Published in · 5 min read · Jul 13, 2021
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Robert Kiyosaki quotes, “Financial freedom is freedom from fear”. Everyone’s ultimate goal is to accomplish Financial Freedom. It is a monetary state that allows you to have complete control over your finances and life choices. It also implies that Financial Freedom would have varied meanings for different people; nevertheless, the challenge lies in getting there.
Given the current pandemic crisis, the majority of people are facing financial hurdles. We are beset by mounting debts, financial emergencies, daily expenses, and other issues that prevent us from accomplishing our goal. Consequently, it’s not easy to achieve Financial Freedom overnight. Regardless, putting forth a consistent effort and adhering to the practice can lead to Financial Freedom. And just because you’re financially secure doesn’t mean you’re “free” from the obligation of managing your finances appropriately. Financial Freedom entails having comprehensive Financial control.
You can achieve Financial Freedom in the following two ways: reducing expenditure or boosting your income. One such source brimming with opportunities is Cryptocurrency. The new generation of investors are embracing Cryptocurrency as a tool for Financial Freedom. It can be considered as a critical step as well as a long-term vision to reach Financial Freedom. Along with the widespread Crypto adoption, there are numerous incredible Crypto stories from people sharing how it has positively impacted their lives. Many early Crypto investors are already reaping the benefits, and it is still not too late for you.
Since the market is extremely volatile, then how can you exclusively attain Financial Freedom through Cryptocurrency? There is, however, always a loophole. Many investors have discovered the silver lining between trading, earning, and living entirely off their Crypto profits. As enticing as it may sound, achieving this level requires dedication and perseverance.
In this blog, we are going to highlight how to achieve Financial Freedom with Crypto
The traditional banking system usually fails to address the requirements of the masses during periods of political, social, or cultural turmoil. The Cryptocurrency and Blockchain ecosystem, on the other hand, can thrive in such circumstances. As a result, Cryptocurrency provides an unprecedented level of Freedom to its users.
- Freedom from relying on intermediaries, or third parties.
- Freedom from the interference of centralized authority.
- Freedom to borderless transactions.
- Freedom to have complete financial control.
- And, ofcourse, Financial Freedom.
People can rely on these assets not just for day-to-day expenses, but also to grow their wealth, and achieve Financial Freedom.
Also Read, Investing In Cryptocurrency This 2021
Methods for achieving Financial Freedom with Cryptocurrency
- Mining — Crypto mining with an upfront investment can be quite profitable. It has the potential to help you generate passive income.
- HODL — Despite the Crypto market’s volatility, it is always suggested that buying a small number of currencies and holding them for a few months is a viable alternative.
- Day trading — Crypto trading is conducted on exchanges that are quite similar to global equity markets. The day trading method is a risky endeavor; however, if you have a knack for the Crypto market and have experience with technical and fundamental analysis, this technique can be incredibly rewarding.
- Staking — Staking allows holders to earn interest on their tokens by assisting in the network’s security. The more the number of tokens staked, the greater the reward.
- ICOs — You can yield exponential profits by investing in a reputable and promising ICO.
- Airdrops — Many new Blockchain projects offer a modest amount of free tokens to their users. The goal is to get as many people as possible to try out their new service. However, a surprising number of tokens have real-world value, so you can even trade them for another Crypto or fiat currency instead of using them.
Also Read, 5 Hacks to Identify the Best Cryptocurrency to Invest in.
Detailed Guideline to attain Financial Freedom with Cryptocurrency
As a Crypto trader, it is feasible to foresee a 3% increase than a 30% gain in Cryptocurrency. In most cases, a prediction of 2% to 5% gain is advisable through merely following chart patterns or analyzing the market sentiment. At the moment, you might also want to consider trading with leverage. However, this method is particularly risky, but it maximizes your chances of winning big when betting on modest percentage movements.
Traders strive for higher entries to make more profits, which can only be attained when your portfolio grows. Furthermore, holding Cryptocurrencies from the time they are purchased until their value has increased to the point when they offer the best deal for selling attracts a higher profit. To strengthen the position, traders should also hold their funds when a bull market is imminent, and then trade them when a bear market is approaching. The profits you may make by simply holding on to your coins are likely to outweigh the possible trading profits. In the event of market volatility, investors should move to stablecoins and hold them until the situation has stabilized.
Aside from Financial Freedom, Crypto traders are also confident that their funds are secure. For most investors, investing in coins that can sustain the value of a US dollar at the pinnacle of a bull market protects their money from a potential market crash. It also enables individuals to make informed investment decisions if the markets drift sideways. A few of the many popular stablecoins to invest in are Tether (USDT), Binance USD (BUSD), and Gemini USD (GUSD).
Once the funds have significantly increased, they can be converted into stablecoins. The ideal strategy to go about it is to stake your stablecoins or save in a savings account for 7–30 days. This method will help generate high interest, which is also referred to as a reward. Then the reward can be re-invested in the trader’s preferred Cryptocurrency, or it can be spent using a Cryptocurrency debit card. Repetition of this process leads to complete Financial Freedom, which is the primary goal of most Crypto traders and investors.
To conclude, Financial Freedom is personal growth and independence. It refers to having sufficient savings and investments to afford the lifestyle you desire. In addition, it is like cultivating a wealth farm that will empower you to make life decisions because you are prepared for the unexpected. It is when you don’t feel constrained by your financial status. It signifies that your money works for you rather than the other way around.
To achieve Financial Freedom with Cryptocurrency, you must put forth the effort to follow through with exhaustive meticulous work. As the Cryptocurrency industry continues to develop, it is also reflected in its growing mass adoption. As a result, it is a terrific place to start and embrace the road to Financial Freedom.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
