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I’m no cryptocurrency expert, and this piece isn’t about the best cryptocurrencies to buy, hold, or sell.
You might wonder why I’m discussing crypto investment out of the blue. Well, this blog post topic popped into my head when I was thinking that I might not invest in crypto.
Instead, I’ll continue to invest my money, time, and energy into something I’m investing in right now.
I have had a chance to look into the crypto world for a whole week, watched a ton of videos on YouTube, and signed up for a popular crypto exchange to get an idea of how it works.
Then I decided not to go all-in, and if you keep reading this blog post, you’ll understand why you shouldn’t aggressively invest in the crypto or even better put your time and money into something better.
So if you’re also looking for the best crypto investment alternatives to invest your money, then stick around for a while and you’ll learn something new.
|Disclaimer: This blog post is neither financial advice nor I’m an expert on cryptocurrencies. I’m just a blogger and niche site builder who shares his learning and experience. Please don’t make your financial decisions based on this blog post.|
Without any further ado, let’s get right into the cream of this blog post.
Stop Cryptocurrency Trading and Do This Instead: Build Profitable Niche Websites
I have nothing against cryptocurrencies, and it’s not like I won’t ever get into crypto. I won’t mind investing a dollar out of a thousand into it, but I won’t be pouring my heart and soul into something I have no control over.
All I’m saying is that I have a better plan to invest my money, time, and energy.
After studying cryptocurrencies for a week or so, I concluded that I’d continue to do what I’m doing right now, which is building niche websites.
Here’s why building niche websites is far better than putting your hard-earned money into cryptocurrencies:
You could say that it takes a lot of work to build, run, and grow a niche website, and maybe it’s not completely passive. However, I have hundreds of examples where bloggers don’t have to put out fresh content once they’ve published 100 to 200 articles, and the sites continue to grow and earn money.
All I’m saying is that it’s doable. I have done it in the recent past. I built a website with 21 articles, didn’t work after that, and the site started earning passively.
Once you learn how to build a profitable niche website that makes money regularly, you can repeat the process and build multiple niche websites. The scalability of the niche website business is a huge factor.
Most niche website builders scale their business by hiring writers, VAs, and editors that make the process easier. It’s a bit difficult to manage several things once you have a portfolio of multiple niche websites.
One of the biggest perks of building niche websites or acquiring already built niche websites is that you can flip these websites for a profit. The industry standard multiples are 26x to 42x, meaning you can sell your niche website for 26x to 42x multiple of monthly profit.
Not only do niche websites make money, but they’re flippable, which makes them a business asset. If I were to invest $1000, I’d surely invest in niche website building or buying. The reason is that I know that I could make money from them as well as flip them for a profit.
I don’t have a doubt that niche websites make a great investment opportunity, but it’s my opinion, and you don’t have to agree with me, not to mention consider this as advice.
|Motion Invest is a fantastic website flipping platform. You can buy or sell small to mid-range niche websites on Motion Invest. Check It Out!|
Here are some popular platforms for selling and buying niche websites:
- Motion Invest
- Empire Flippers
- Quiet Light
- FE International
- Just Website Brokerage
- Blogs For Sale
Additional Income Stream
A niche website could be a great additional income stream, for instance, if you buy a niche website (after some due diligence) that makes $50 a month, you’d be sure that a certain amount is going to be received in your bank account every month.
On the contrary, you can’t consider your cryptocurrencies as an additional income stream. There is no way you could earn consistent money every month from cryptocurrencies without spending hours and hours every day.
There are always some exceptions; you’ll find crypto investors that make money by selling cryptocurrencies for a profit. They won’t tell you how long it took for that cryptocurrency to give some profit.
Why Cryptocurrency is Not the Best Investment
I have explained why niche websites make the best cryptocurrency investment alternative. Now allow me to shed some light on why crypto isn’t the best investment:
Cryptocurrencies are volatile
Since I’m not a crypto expert, so I can’t go deep into this stuff. However, I can only say what’s going through my mind right now.
It shouldn’t surprise you when I say crypto is volatile – one day you wake up, the bitcoin is at $60,000 and after a few months, it comes down to $35,000.
And what drives me crazy is that no one knows what’s going to happen next. The crypto enthusiasts would argue that it’s good because the governments don’t control this digital currency.
So, what about the majority of investors who could manipulate the crypto prices by buying and selling the coins?
I don’t know what to say more about this.
Mostly long-term investments benefit
I read this everywhere: if you had bought bitcoin in 2013, you’d be a millionaire by 2021. Well, maybe it could have made you a millionaire, but it would have taken eight years to get you there.
I see crypto as more of a long-term investment, and that’s why you shouldn’t quit your day job or stop working on a side hustle.
I build and sell niche websites on the side, and I’m well aware that any new niche site won’t be worth thousands of dollars within days – it always takes time.
If you’re after any “get rich quick” schemes, you’re going to regret it later.
Crypto trading consumes a lot of time
One of the things I hated about cryptocurrency trading is that it eats up so much of your time. Not only do you have to keep an eye on the market, but you’d also have to follow crypto experts that talk about cryptocurrency trends.
After doing week-long research on this topic, I ended up frustrated because it was so time-consuming. Sure, you could set alerts or even place crypto orders for buying or selling once they hit a certain limit, but still, the temptation to see the prices won’t let you walk away.
Would You Invest in Crypto or Find an Alternative?
You don’t have to make a decision right now or even think about it.
I don’t have a problem even if you’re still interested in investing in cryptocurrencies because this isn’t financial advice. I’m only sharing my personal opinion on the subject matter.
However, I’d love to know your point of view on crypto investment. So don’t shy away from typing in your comment below.
I’m interested in reading your comments on crypto.