Did you know there’s a way you can cut your unnecessary expenses while growing your Bitcoin holdings?
Yep, that’s right. It’s called stacking sats. And there are some cool ways to stack sats without paying a penny.
Sounds awesome, doesn’t it?
In this article, we will explore the exciting world of stacking sats while giving you tips to convert the expenses you don’t need into BTC.
What Does Stacking Sats Mean?
“Stacking Sats” refers to regularly accumulating small amounts of Bitcoin over time via either buying, earning, or mining BTC. “Sats” refers to satoshis, the smallest unit of Bitcoin.
The unit was named after BTC’s creator, Satoshi Nakamoto, who launched the world’s first cryptocurrency in 2009 after publishing the official Bitcoin whitepaper in late 2008.
How many sats are in a Bitcoin?
1 Bitcoin = one hundred million satoshis
1 Satoshi = 0.00000001 bitcoin
At the time of writing this article, one BTC trades at $8,870, with one satoshi being $0.0000887.
How Did the Movement Start?
Before blowing up the cryptocurrency community, the term “stacking sats” started with a tweet in late December 2017.
Later on, the term was mentioned on several occasions in the crypto community.
However, what helped it become popular was Bitcoin advocate Matt Odell’s “Tales From The Crypt” podcast in February 2019. In that episode, Odell advised his listeners to stack sats by earning or purchasing Bitcoin on a regular basis.
As a result of the popular podcast episode, crypto enthusiasts have started to post screenshots on Twitter as proof for how they’ve accumulated BTC using the #stackingsats hashtag on the social media platform.
After stacking sats became a thing in the crypto space, many blockchain companies joined the movement of accumulating Bitcoin.
With the growing interest in stacking sats, crypto solutions have appeared on the market, offering cashback offers and other ways for consumers to earn BTC.
Even Twitter and Square CEO Jack Dorsey – who has been widely known for his pro-crypto approach – joined the movement, posting a screenshot on Twitter in March 2019 as proof for stacking sats.
How to Stack Sats: Our 9 Favorite Ways to Accumulate Bitcoin
Now that you know everything about crypto’s new trending movement, it’s time for us to show you some handy tips and tricks that you can use to stack sats.
Let’s see them!
1. Invest a Fixed Amount Every Month (Dollar Cost Averaging)
The first option to stack stats is by separating a fixed amount of funds, and using them periodically to purchase Bitcoin (e.g., daily, weekly, monthly).
This method is based on the investing strategy of dollar-cost averaging (DCA).
Unlike lump-sum investing, where you use all your funds at once to purchase an asset, investors using the DCA method decide how much they are willing to spend and at which periods prior to the actual investment.
Let us illustrate this method with an example:
After receiving your salary and paying your monthly expenses, you decide to separate a fixed amount of funds to purchase $100 worth of BTC on the tenth day of the month.
You continue doing this in the upcoming months until you accumulate your desired amount of Bitcoin.
It’s important to mention that the DCA method goes against the strategy of timing your investments.
Therefore, if you choose to stack sats this way, then you should forget about looking at the charts before making your regular BTC purchases.
As a result, this method relieves some stress from investors as you don’t have to worry about checking the Bitcoin price before making your investment. Also, as there is no market timing involved, you won’t feel any regret if the BTC price falls after purchasing it.
2. Cut Your Coffee Expense
Enjoying a warm cup of your favorite coffee is one of the most comforting things to do every morning.
In fact, coffee is the most popular beverage in the world, with over 400 billion cups consumed every year on a global scale.
But what if we told you that many people are overspending on this fine beverage?
According to an Amerisleep study, people between 25 and 34 spend an average of $2,008 on coffee in a year, which breaks down to a monthly $167.
If you recognize yourself among the participants of the study and you are keen on stacking sats, we recommend cutting your coffee expense by a lot.
We are not saying that you should quit drinking coffee ASAP, as we don’t want to take away the world’s most beloved beverage from you.
Instead, you should consider brewing your favorite caffeinated drink at home and take it to work, rather than purchasing a fancy latte for $5 in a coffee shop.
Now, sticking to your new, cost-efficient, coffee-drinking habit, check how much funds you saved at the end of the month.
Oh, and don’t forget to use your coffee savings to stack sats!
3. Stop Killing Your Budget With Smoking
Everyone knows smoking is bad for one’s health.
However, many forget that this expensive habit could easily drain your monthly budget.
If we calculate the average of ten cigarettes (half a pack), that person spends $3.08 a day on tobacco, which adds up to $92.4 in every month and $1,108 annually.
Calculating with the current Bitcoin price ($8,870), this person could use his annual smoking budget to purchase 0.125 BTC.
And what would be more convincing to give up on smoking than some shiny sats in a Bitcoin wallet?
4. Avoid Drinking (Too Much) Alcohol
While alcohol is a popular beverage when one is hanging out with his friends in their favorite pub, it is one of the top budget-killers out there.
According to Alcohol.org, the average New Yorker spends over $2,000 on alcoholic beverages in a year, which breaks down to a monthly $167.
So, if you feel like stacking sats and reducing your luxury expenses, then don’t forget to check how much you spend on alcohol each month.
Even if you don’t want to eliminate the beverage from your life, decreasing the amount you consume in each month could help you in your quest to accumulate BTC.
5. Consider Alternatives to Cable TV
Americans spend up to $100 in a month ($1,200 a year) for cable TV.
And many are paying for their cable subscriptions despite the fact that they turn on their TVs only a few times in a month.
Fortunately, online streaming alternatives – such as HBO Now, Netflix, and Hulu – come at much lower prices. Therefore, switching from cable to streaming could help you in cutting your expenses, especially when a single service is enough for you to stream your favorite shows and movies.
According to Bankrate, those who cut the cord could enjoy tremendous hours of video content for less than $50 per month.
Therefore, canceling your expensive cable TV service could allow you to accumulate at least $50 of BTC every month.
6. Stop Paying for Gym Memberships You Don’t Use
Going to the gym is a great way to lose some weight and stay in shape.
But what is the purpose of your membership if you don’t use it?
According to Glofox, 6.3% of Americans spent a total of $1.8 billion on gym memberships without using them in 2018.
As the average cost of a gym membership is $58 per month in the United States, failing to use it could lead to the unnecessary expense of nearly $700 a year.
Unless you want to start hitting the gym regularly, you can eliminate that expense to stack sats.
7. Earn Cashback on Your Crypto
Now that you have eliminated the expenses you don’t need, it’s time to see an exciting method that lets you stack crypto sats without spending a dime.
As stacking sats has become a popular movement in the crypto space, multiple blockchain projects have introduced apps and services where users could earn cashback on their purchases.
Lolli, for example, is one of the most popular Bitcoin cashback solutions. After installing the Lolli browser extension, the app will let you know when you have visited one of its partner stores where you can earn up to 30% cashback in BTC.
Fold is a very similar service to Lolli. Using its smartphone app (available on both iOS and Android) will allow you to stack sats when you make purchases on popular services, such as Amazon and Uber.
What’s more interesting is that Fold has recently partnered with Visa to launch a card that lets users earn Bitcoin back on their purchases.
Other popular crypto cashback services include:
8. Start Mining BTC
Mining Bitcoin is one of the oldest methods of stacking sats.
As Bitcoin uses the Proof-of-Work (PoW) consensus algorithm, miners in the BTC network are required to use their computational power to maintain the ecosystem, verify transactions, and add new blocks to the distributed ledger.
In exchange, miners earn block rewards after successfully adding a new block to the chain while getting a share of transaction fees for verifying BTC transfers.
However, as opposed to crypto cashback, mining Bitcoin requires an upfront investment from your end as you have to purchase special mining equipment – an application-specific integrated circuit (ASIC) miner – which you have to set up to be able to mine the cryptocurrency.
In addition to the setup costs, you will have to pay for the energy your miner uses as well as for cooling your rig.
Therefore, if you want to stack sats with this method, we recommend calculating your potential income and expenses to evaluate profitability prior to starting your Bitcoin mining operation.
Another method you can use to mine Bitcoin is via cloud mining services. With these solutions, you don’t have to purchase a mining rig, and you don’t have to worry about setting it up or running it as the service provider takes care of those for you.
Therefore, cloud mining is a much more convenient option for those who want to stack sats via mining BTC but don’t have the necessary resources or technical background.
On the flip side, service providers often charge hefty fees for cloud mining contracts, which could decrease your profit margin.
Furthermore, there’s a lot of scams involved in the cloud mining space. Because of this reason, we advise you to do your own due diligence and choose a reputable service if you decide to stack sats using a cloud mining solution.
Pro tip: Some altcoins use alternative algorithms to reach consensus within their blockchain networks that don’t require block validators to physically mine (or use their computational power) to validate blocks.
For example, the validators in Proof-of-Stake blockchain networks are rewarded for locking a part of their coins for a certain time to maintain the ecosystem.
If you don’t want to spend a fortune on mining equipment, you can check out these blockchain networks to stack sats.
9. Earn ASK by Leveraging Your Data and Time
Do you hate that tech giants like Google and Facebook are selling your data to advertisers who use it to bombard you with annoying ads?
We hear you.
But it doesn’t have to be this way.
Meet Permission.io, the cutting-edge advertising platform that rewards you in ASK coins for providing your data with your permission and for taking the time to engage with ads. Download the Permission Browser Extension and have relevant ads delivered to you wherever you surf the web, with crypto payments for every one you watch.
While you have full control over your data, you can use the ASK you earned to stack sats or shop directly via Permission.io’s Shop With ASK store.
And the best?
You don’t have to spend a dime to stack sats with Permission.io!
It’s Time to Stack Sats and Chill
Stacking sats is one of the best things that ever happened to crypto.
If you choose to mine or buy crypto regularly via the DCA method, you invest in supporting the decentralized economy while accumulating BTC.
Stacking sats also helps you to convert those unnecessary expenses into Bitcoin. It’s a win-win scenario as you eliminate your budget-draining habits while accumulating some shiny sats.
Furthermore, crypto cashback apps allow you to shop at your favorite stores while getting rewarded in Bitcoin.
You can even get rid of those annoying ads and choose the ones you’d like to watch as well as control the data you provide to advertisers while being rewarded in ASK on the Permission.io platform.
Aren’t you stoked to be stacking sats while engaging with businesses on the advertising platform of the future?
What are you waiting for?
Head to the official Permission.io website now to stack some shiny sats!