Topic: Does Digital Currency can Activate Someone's Financial Freedom? - page 3. (Read 582 times)

Yeah we can do that at our own freedom if we have such capital to invest while the opportunity is there. There's a lot of ways to do it but the problem is how to initiate a good strategy. Digital currency financial freedom differs from fiat system, because you can do it at your own will without being controlled by centralized regulation.

I personally think that the traditional banking system often fails to meet the needs of the people of a country if the country's government experiences a period of political, economic and cultural instability. But this in my opinion does not apply to cryptocurrency. The cryptocurrency and blockchain ecosystem can continue to develop during this period. People can not only depend on these assets for daily payments, but also use them to produce more wealth. Some things from my opinion which in my opinion are financial freedom from cryptocurrency

1. Buy and Hold
buying cryptocurrency in small or large quantities and holding it for several months is a form of financial freedom from cryptocurrency. Unlike a bank account, creating a new cryptocurrency wallet is very easy for anyone who has access to a smartphone or computer connected to the Internet, you can install and access the wallet in just a few minutes.
2. Daily trading
Cryptocurrency is traded on an exchange, whose function is similar to that found in global equity markets. If you have expertise for technical or fundamental analysis and believe that your skills are suitable for the cryptocurrency market, trading can be very profitable. However, daily trading can be a risky endeavor, given that some tokens can experience short periods of high volatility at any time.
3. Mining
Mining refers to the process of using computing power to verify transactions and create new cryptocurrency units. While some cryptocurrency like Bitcoin cannot be mined using consumer level hardware, it is different from others like Ethereum and Zcash. Although mining can be very profitable, a large amount of investment is indeed needed at the beginning in the form of hardware. But if you pay attention, mining can be profitable and can generate income passively

Based on that, I think that we as holders and users of cryptocurrency have financial freedom over all the money we have. Although the above is not a complete list of how someone can achieve financial independence with cryptocurrency, the above is in my opinion a good starting point for someone new to the world of cryptocurrency. Do you agree with my opinion? Or you want to add some important points to this?

There's no difference having financial freedom with fiat and cryptocurrency. You named different ways to acquire bitcoin and altcoins but that doesn't mean that you'll be financially free once you've done any of those.

Unless, you've made that much and you have accumulated at the cheapest price before the price multiplied, I think you can live financially free if you have hundreds of thousands to millions of dollars worth of bitcoin or altcoin with the value right now.

1. Buy and Hold
buying cryptocurrency in small or large quantities and holding it for several months is a form of financial freedom from cryptocurrency. Unlike a bank account, creating a new cryptocurrency wallet is very easy for anyone who has access to a smartphone or computer connected to the Internet, you can install and access the wallet in just a few minutes.
2. Daily trading
Cryptocurrency is traded on an exchange, whose function is similar to that found in global equity markets. If you have expertise for technical or fundamental analysis and believe that your skills are suitable for the cryptocurrency market, trading can be very profitable. However, daily trading can be a risky endeavor, given that some tokens can experience short periods of high volatility at any time.
3. Mining
Mining refers to the process of using computing power to verify transactions and create new cryptocurrency units. While some cryptocurrency like Bitcoin cannot be mined using consumer level hardware, it is different from others like Ethereum and Zcash. Although mining can be very profitable, a large amount of investment is indeed needed at the beginning in the form of hardware. But if you pay attention, mining can be profitable and can generate income passively

I personally think that the traditional banking system often fails to meet the needs of the people of a country if the country's government experiences a period of political, economic and cultural instability. But this in my opinion does not apply to cryptocurrency. The cryptocurrency and blockchain ecosystem can continue to develop during this period. People can not only depend on these assets for daily payments, but also use them to produce more wealth. Some things from my opinion which in my opinion are financial freedom from cryptocurrency

1. Buy and Hold
buying cryptocurrency in small or large quantities and holding it for several months is a form of financial freedom from cryptocurrency. Unlike a bank account, creating a new cryptocurrency wallet is very easy for anyone who has access to a smartphone or computer connected to the Internet, you can install and access the wallet in just a few minutes.
2. Daily trading
Cryptocurrency is traded on an exchange, whose function is similar to that found in global equity markets. If you have expertise for technical or fundamental analysis and believe that your skills are suitable for the cryptocurrency market, trading can be very profitable. However, daily trading can be a risky endeavor, given that some tokens can experience short periods of high volatility at any time.
3. Mining
Mining refers to the process of using computing power to verify transactions and create new cryptocurrency units. While some cryptocurrency like Bitcoin cannot be mined using consumer level hardware, it is different from others like Ethereum and Zcash. Although mining can be very profitable, a large amount of investment is indeed needed at the beginning in the form of hardware. But if you pay attention, mining can be profitable and can generate income passively

Based on that, I think that we as holders and users of cryptocurrency have financial freedom over all the money we have. Although the above is not a complete list of how someone can achieve financial independence with cryptocurrency, the above is in my opinion a good starting point for someone new to the world of cryptocurrency. Do you agree with my opinion? Or you want to add some important points to this?

OP's aspirations are not impossible as we've witnessed some people did in fact achieved financial freedom by doing those things. Also, financial freedom and the feeling or its achievement is not the same for everyone since its highly subjective. Some don't even have to be required to invest a huge amount of money just to attain it. Imho.

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

This is delusional.
You won't achieve financial freedom by trading mining or buying and holding. Unless if you already have  a LOT of money and you are willing to risk all that money in those risky activities.

Bitcoin won't increase its price by 10.000% again. Ok, it may happen, but are you willing to take the risky?

Let's suppose you need 1 million dollars to achieve your financial freedom.

So if you invest 100k USD in btc (10 BTC), and if the price goes to 100.000 USD per BTC, you have achieved your goal.

But do you have all that money? Are you willing to do all in strategy? It isn't worth, because the price may go down as well

I personally think that the traditional banking system often fails to meet the needs of the people of a country if the country's government experiences a period of political, economic and cultural instability. But this in my opinion does not apply to cryptocurrency. The cryptocurrency and blockchain ecosystem can continue to develop during this period. People can not only depend on these assets for daily payments, but also use them to produce more wealth. Some things from my opinion which in my opinion are financial freedom from cryptocurrency

1. Buy and Hold
buying cryptocurrency in small or large quantities and holding it for several months is a form of financial freedom from cryptocurrency. Unlike a bank account, creating a new cryptocurrency wallet is very easy for anyone who has access to a smartphone or computer connected to the Internet, you can install and access the wallet in just a few minutes.
2. Daily trading
Cryptocurrency is traded on an exchange, whose function is similar to that found in global equity markets. If you have expertise for technical or fundamental analysis and believe that your skills are suitable for the cryptocurrency market, trading can be very profitable. However, daily trading can be a risky endeavor, given that some tokens can experience short periods of high volatility at any time.
3. Mining
Mining refers to the process of using computing power to verify transactions and create new cryptocurrency units. While some cryptocurrency like Bitcoin cannot be mined using consumer level hardware, it is different from others like Ethereum and Zcash. Although mining can be very profitable, a large amount of investment is indeed needed at the beginning in the form of hardware. But if you pay attention, mining can be profitable and can generate income passively

Based on that, I think that we as holders and users of cryptocurrency have financial freedom over all the money we have. Although the above is not a complete list of how someone can achieve financial independence with cryptocurrency, the above is in my opinion a good starting point for someone new to the world of cryptocurrency. Do you agree with my opinion? Or you want to add some important points to this?

OP's aspirations are not impossible as we've witnessed some people did in fact achieved financial freedom by doing those things. Also, financial freedom and the feeling or its achievement is not the same for everyone since its highly subjective. Some don't even have to be required to invest a huge amount of money just to attain it. Imho.