Don't Live With Your Crypto Money!

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(Edited)

Cryptocurreny is our own money. It is not printed by central banks. That is why your cryptocurrency assets should not be spent if you can not regain the amount you have in your previous time.

https://pixabay.com/photos/bitcoin-cryptocurrency-digital-2007769/

If you have $10,000 in crypto then you live with your cryptomoney, you will spend some of your $10,000 to daily living. It means that you have to reduce the amount of the $10,000.

Let's take an example. You spend $100 for your daily needs. Then your asset is now $9,000. When you can not return your asset to $10,000 you will lose your asset.

Sell half of your crytpto assets at ATH.

In the ATH, it is time to collect fiat. With 50 % assets that you sell at ATH, you can use 50% of the money. 50% fiat from selling your crypto is to buy back crypto assets at the lowest price.

10,000 previous assets. Let's say Hive is $1.
Sell 50% hive at ATH. You will earn $5,000 .
$2,500 you can spend for your offline needs. and $2,500 is to buy back your coins.

Now you have $5,000 in hive, and $2,500 in fiat. When hive prices drop to 50%, you should buy hive with that $ 2,500 fiat. Then you will get 5,000 hive. Now your crypto asset is back to 10,000 hive.

After you can buy back your hive, never sell your hive for your daily needs. It is better you invest $2,500 for an offline business. $2,500 for an offline business will fund you for daily living.

After you have a stable offline business, you can grow your hive to the higher amount. You can use the first strategy to increase your value of assets.

After you have an offline business, you will not spend any money from your cryptocurrency assets. It is time to diversify coins for hodling or put more funds into your offline business.

Thanks for reading, I am not a financial advisor, this is just an experience that I want to share with you.

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8 comments
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Wow this is really an interesting information,this info will help one to be able to increase their crypto assets and at the same time still be able to spend money for their needs offline..


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I have experience living with crypto money, and I got bankrupt in 2018 because the crypto price dumped


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Nice plan. In theory. But don't forget about timing.

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Timing can be conditional. What should we train is that knowing the ATH. Sometimes we are too greedy so that we miss ATH.

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I suppose it depends which crypto as well. I remember when Steem hit $6 and everyone's favorite crypto analyst was saying will go to $18. And of course we all know what happened next.

In principle, definitely agree with holding on dearly when cheap and selling at ridiculous prices. Ultimately, we just need to make sure that we can take care of things in real life.


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It depends on the crypto that we hold. I prefer to hold one or two cryptos because by watching only a few cryptos I will know the characteristic of the price movement so that I can decide easily when to sell and when to buy.

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Yes, it is best to have your major stake in one or two good crypto projects where there's a lot of development going on. Also how active the community is, is another good indicator when it comes to the viability of the project.

One i recently got into was Banano because of the active community, but let's see, could got to zero too.


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