total diversification : make "piles of money" reselling counter strike items on the Steam Community Market

in #trading7 years ago


A lot of you might already be aware it is possible to earn good amounts of money by trading in-game items for popular computer/videogames. You might wanna skip the next paragraph.

For those who aren't, the steam community market has nothing do do with Steem; Steam is a platform for computer games. They have a community market where you can buy and sell items for most of the popular games they support.
https://steamcommunity.com/market
You will need to signup for an account, but you dont actually have to purchase or play any games, although it can help in some situations. You can only put limited amount of funds into your wallet , depending on your country of residence. You can't directly withdraw your funds from Steam, but there are multiple ways to cashout any profits made there.

There are many guides out there how to trade on Steam and if you want to make the most out of it, I can recommend reading at least a few others, as I can only cover a limited amount of general topics here; those which I find least risky and easiest to apply.
A real no brainer so far has been buying so called autograph-capsules for CS:GO once they are on sale for the current official tournament series. You buy them once they are on sale @50% or even 75% discount, then wait and hold. The price will easily double within a few (1-2) months, at which point I'd recommend to resell, although they can increase in price a lot more. Since Steam charges 15% of any sales made in the community market, you might wanna sell them on a third party site like https://opskins.com/ .This also has the advantage that you can actually cash out your profits there
In general, if there are any limited items for a popular game, you can expect very nice returns from them.
Holding onto them for more than a year isn't recommended though, unless you are sure the game is still as popular as ever. There is still a chance your limited item might get re-released for some reason and therefore lose its value.

Currently, the twitch item collection for playerunknowns battlegrounds might be worth looking into (disclaimer: i bought quite a few of those limited twitch items myself, after they stopped giving them out for twitch prime subscriptions).

You can also often instantly resell items for profit buy simply keeping an eye on all available trade platforms, especially CS:GO and Team Fortress 2 have a large number of thrid party trade sites. Some use their own pricing systems, some use so called keys for pricing (1 key is about $2.5 on Steam and $2 irl cash), but if you do the maths you can often profit from their pricing differences. Beware of scams though, most sites that will not allow you to exchange items for items directly, but instead give you some kind of credits for your items, are scams. Most sites won't require an additional signup but will be happy with using the Steam open auth. All trades on Steam now require 2FA through the free mobile Steam App, so trading is pretty safe there.
If anybody comes up with some weird story or asks you to visit some link, be very caarefull though, there are some bots spamming phsihng links etc.

Getting mony into and out of Steam:
The easiest way is to simply directly deposit into Steam from your bank acount, Paypal etc (sadly they don't accept any crypto yet, but some of the third party sites do). But there is a more profitable way: You can buy items on sites like opskins or marketplace.tf for crypto or fiat and then resell them on the Steam Community Market (don't forget to calculate in the 15% they charge, though). Depsite the rather extreme commisions, you can end up with more funds in your Steam wallet than if you deposit directly. Even more profitable, but potetially more risky, is to buy some items from people directly through trading forums; double check their reputation though, if you plan on going down this road-for some games or items this might also be against the Steam T.O.S, so I'd recommend sticking to "official" third party sites.
I tend to cash out by converting any profits I make to Team Fortress 2 keys and then selling them on dispenser.tf for bitcoin, but some of the already mentioned sites also have an option for paypal, though they also charge 5-10% commisions.

How much can you actually make from this?
It really as with most things depends on the amount of time and energy you put into it; if you learn your stuff and invest about 50$ and 2 hours a day, you can make about 200-500$ a month, depending on how good you are at trading in general. Once you have more funds on Steam and built up an inventory, you can in theory make a lot more though.
If this hits some interest I can make a series out of it if you like, these are just some basics:)
I am not as active anymore as I used to be since I got a full time job etc but can't 100% keep my fingers from it since it's so easy:)

Sort:  

Congratulations @res1234! You have received a personal award!

Happy Birthday - 1 Year on Steemit Happy Birthday - 1 Year on Steemit
Click on the badge to view your own Board of Honor on SteemitBoard.

For more information about this award, click here

By upvoting this notification, you can help all Steemit users. Learn how here!

Congratulations @res1234! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 3 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.19
TRX 0.18
JST 0.035
BTC 91576.55
ETH 3189.08
USDT 1.00
SBD 2.78