As one of several experiments in autarchy that I’ve engaged in over recent years, I invested a little money on cryptocurrencies, and enjoyed the process of learning and writing about them. This was after the 2017 rally, so I missed out on that, but during that time I learned about several coins and took an interest in Stellar Lumens, which–together with Ripple–was created in order to facilitate inexpensive and quick international transfers of money while avoiding the hefty fees that poor people everywhere pay to companies like Western Union just to transfer money to their family members in other lands. Now, it’s possible to send money to Mexico, or Kenya, or anywhere else for pennies within seconds. I admit that my small investment in Lumens had as much to do with solidarity with its noble purpose, as it did with the fundamentals of the currency itself–which are strong.
Supporting initiatives like Ripple and Lumens is also one way to promote competition against the Big Banks, and to help drive down arbitrary and expensive transaction and exchange fees. Lumens is a non-profit alternative to Ripple that invests in underserved communities, but otherwise uses a somewhat similar protocol to Ripple. Earlier this week, Stellar Lumens was added to Coinbase, which is the most mainstream alt-coin exchange. This gives it an advantage over the thousands of other coins out there, as it signals greater liquidity. Furthermore, it’s also the coin being used to facilitate inexpensive international bank transfers in IBM’s blockchain-based BWW network, which is beginning to enjoy global adoption.
Which brings me to the purpose of this blog entry: if you follow this link to buy $100 in bitcoin from Coinbase, the company is offering you and I both $10 of free bitcoin. From Coinbase, you can also trade Litecoin, Ethereum, Ripple, Lumens, and a few other alt-coins. The company has recently announced that it will give free Stellar Lumens coins to users who learn the XLM protocol as part of an educational initiative, where the user simply has to watch 3-5 short videos and take a short quiz to earn tokens.
I’ve had the link available for months, but there’s a reason why this is relevant now. It has been over a decade since the 2008 financial crisis, and many investors are beginning to prepare for the next contraction. One of the ideas for making money in the coming years is buying bitcoin–which is much more affordable now than it was at its height in late 2017. This follows the logic that bitcoin is digital gold–the kind of currency that is used to store value–and that when currencies (like the US dollar) lose value, investors flock to gold, silver, and other alternatives to hold their wealth. So if you’ve been thinking of buying bitcoin and diversifying your holdings, please follow this link and take advantage of the $10 bonus.