Initially popularized by Bitcoin enthusiasts, stacking satoshi (sats) is becoming increasing popular and refers to the act of building a savings of Bitcoin (BTC) over time. A satoshi (or sat) refers to the smallest unit of Bitcoin @ 0.00000001 BTC.
If you're new to this, today's guide will be perfect for you - we're gonna show you how to start Stacking Sats. If you're already doing this, we hope some of the tips will help you out even more! Remember, no amount is too small when it comes to saving - a small amount can grow into a sizeable mound over a period of time with discipline.
Up your sats stacking game!
Introducing: Stack Sats on CoinGecko. Use our handy calculator to see what you can achieve by consistently stacking sats. (psst be the first few to find the 🛸 and tag us on Twitter @coingecko for some swags!)
Not sure how much you can stack? Read on for some tips and tricks for you:
- Setting aside a small fixed amount (i.e $2/day)
- Cutting unncessary expenses
- Cashback options
- Bonus: Stack sats for free with LNTX bot Telegram
1. Setting aside a fixed amount consistently
Save, save, save! (Image Source)
The easiest, and likely to be most rewarding one is to consistently save by setting aside a small amount each day. $2/day may not seem like much, but in a year's time, that would be $730. In Bitcoin terms, you've just saved yourself approximately 0.1 BTC (based on current prices).
Money saved = approx. $60/month
2. Cutting unncessary expenses
Another source of potential savings can come from cutting expenses that we never really thought to, either because we're so used to them, or we just never considered an alternative to it. Here are some to help you get started:
Rise and shine! (Image Source)
The average American easily spends $10/day on coffee with ~3 cup of Coffee a day at $3.28 a cup. This is a great place to start because there are lots of ways to get cheaper coffee without sacrificing the caffeine fix. Some awesome folks have made the calculations to show that it only costs $0.9 to brew your own coffee. It's worth it even after considering the investment needed for brewing equipment and beans!
You can be creative with this - coffee brewing is an art and there are many ways to go about it. Learn something new, save some money, stack some sats and have fun while at it! :)
Money saved = approx. $150/month
2.2 Eating out
Panda enjoy food. Panda no enjoy bill. (Image Source)
We'll keep this short and sweet, since everyone's mileage varies when it comes to food. But know this: it has been estimated that you can potentially save up to $5,800/year just by eating out less, packing your own lunch, order smaller portions and repurposing leftovers. We also know that the average working adult (above 25 years old) spends over $3,400 in a year eating out - so let's take both into consideration and assume that saving $5,800 is quite ideal and cut that in half.
Money saved = approx. $2900/year, $240/month
2.3 Subscription based services (Gym, streaming)
Netflix & Chill to a whole new level! (Image Source)
We don't have figures for this, but subscription services such as premium membership for certain apps, gym membership and streaming services can quickly add up - go through your credit card bills and look for those. You might be surprised to see that you can actually remove some of them and it wouldn't affect your quality of life at all. Let's go for a low-end esimate since this one can vary quite wildly across people.
Money saved = approx. $20/month
2.4 Lifestyle purchases
Cigarettes, booze, designer clothes, latest gadgets etc. are some of the things we sometimes can't help but spend on - it doens't always have to be that way! Think about it - do you really need the latest gadgets? If the current one works fine, you'll be doing your future self a real solid one by not changing it and saving the money instead.
Money saved = approx. $20/month
3. Cashback options (it's almost like free Bitcoin, yes?)
After cutting your expenses, you'll be left with necessary expenses. And if you have to spend those money, why not get some cashback while you're at it? Some services offer cashback or rebates in BTC when you spend, and here are some options we found:
- Lolli (Bitcoin Cashback as you shop )
- Pei (Cash rebates in BTC/USD when you use their linked cards)
- SatsApp by Casa (Get paid simply by using Bitcoin)
Note: This is not an endorsement, rather what we found while Googling around. Gentle reminder to always do your due diligence!
4. Bonus: Stack sats for free!
Who doesn't love free?
- Check out CoinGecko's guide to stacking sats for free by receiving ads on LNTX Bot (You'll have to see some ads, but aside from that it's quite literally free)
- Also, the wildly popular Coinbase Earn. Earn Crypto and Learn Crypto (has a good ring to it, no?).
How much can you then stack?
Including all the savings mentioned above, we are looking at nearly $6,000/year (or approx. 0.9BTC/year!) that's freed up from changing habits or reevaluating some of our spending choices.
It's never too late to start - we also analysed historical data and we found that in most years the returns from stacking Bitcoin have been positive and you'll likely end up with a sizeable stack of Bitcoin if you start stacking sats now & do it consistently.
Of course, once you've saved up any amount, you should feel free to invest it anywhere else that you see fit. Afterall, the aim of this article is to help you think about aspects or parts of your life that can be optimized to remove unncessary spending. Having a cushion for any emergency is never a bad thing - you never know when rainy days will come!
That said, however rewarding Stacking Sats may be, it's definitely more important to not do it at the expense of your family, loved ones, yourself or your friends.
And that's all - I hope you've had fun reading this as much as I have writing it. Stack on and keep hodling!
Jin is a Market Research Analyst at CoinGecko. In his free time, Jin enjoys messing with crypto related stuffs on a slightly technical side and generally learns about crypto as he munches on snacks. Follow the author on Twitter @jin_8315