Becoming Financially Free With Bitcoin

[imstillthebest]

The main problem with Btc as an alternative payment option is that fees are still too high.

thats why there are altcoins . they are invented to solved the most known issue of btc like high fee and slower transfers  but not all times btc has a higher fee. sometimes the fee only depend on its value whilst other platform and service use a fix fee no matter what the price of btc is  .

On exchanges it cost you about 5$ to transfer your Btc.

whats the name of that exchange ?  5 usd is large enough for a small time traders especialy if the amount that they trade is lower than 5 usd   . its not wise to trade thier or better if you can stack up your btc for a while and only trade when it becomes large enough  .

[VDraci]

Everyone has a slightly different method for becoming financially free, based on their personality, skill-sets and appetite for risk.

I haven't come across many other BTC enthusiasts though that are using Bitcoin to become financially free, so I thought it might be interesting to share what I'm doing.

My plan, simply put is:

• Invest a % of my Income into BTC (£100,000 / $120,000) - I have almost completed this step
• Wait for that investment to grow by 5-10x
• Pull out my profit and invest into residential property
• Live off the rental income (passive income will be £100,000 / $120,000 p/a)

That’s if it goes according to the plan I’ve detailed here: https://youtu.be/SiYc6ipKefQ  

Some may perceive my plan as extremely reckless.

I know I could potentially lose everything that I invest, but I’m prepared to take that risk, because in my mind the potential reward outweighs the potential risk.

If Bitcoin goes to 0, then it will be a major setback. It won’t ruin me, but it will take me two years to save up that money again (saving £50k from my £75k post tax income).

If it pays off, my route to financial freedom will be LIGHT YEARS faster than I could ever expect from property, gold, bonds, or investing in the stock market as a whole.

Although I fully understand the risk involved, I don’t see this as a gamble. I truly believe in Bitcoin as a technology. I’m willing to bet on something that I believe will have a positive impact on the world going into the future.

If I’m wrong, I’m wrong. That’s it. Start again.

But if I’m right, my life will change.

That’s really just a brief summary of my investment strategy (there is actually a bit more to it) - I’ve created a video, also linked to above, with a clearer explanation here: https://youtu.be/SiYc6ipKefQ

It would be interesting to hear if anyone is doing anything similar to this, and what peoples' thoughts are.

This is a great plan indeed for someone like you who can use that large amount of money to invest, its a big risk but i am sure its worth it, as for me if i have 120k i won't bother to invest it all in bitcoin, way too much and can't take the risk, infact i can have a good life with that amount

[Danslip]

I am not planning to become financialy free with bitcoin. I invest in bitcoin to have some extra money some day, but I don´t think I have money enough to reitre.

If you are young and have sufficient information in financial markets, you have more chance to be out of the rat trap than the ordinary people who have less desire, information. The financial literature can save the life of the person and lifestyle of crypto trader will let you to live your life however you desire and the 5-9 job requirements will not be the chain on your shoulders in my opinion. Crypto traders can invest small percent of their monthly paycheck in the reliable projects but they need to be careful from the scammers of the crypto speculators. As the crypto portfolio grows, the market will reward the crypto trader for the smart decisions based on the trading skills and money management. It is never too late increasing the financial literacy, the life will rule everything as it goes like in the crypto trading.

[qiman]

We had this chance in 2018 to procure property by selling out Bitcoin and Altcoin portfolio but unfortunately we were unable to do so as we had decided to hold the liquid investments for longer. So now we are trying again to put in some funds very slowly into Bitcoin etc in order to procure a decent sized investment. I wish to congratulate you on the fact that you were able to build this big investment in Bitcoin ad I am sure now when Bitcoin went up, you did very well and have probably already now purchased some real estate. The passive income from real estate is a very nice way to become retired fairly fast and for those who have achieved it already in this sector are doing very well. We have to start now from the beginning again unfortunately due to some unforeseen circumstances and bad luck.