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Author Topic: Is it possible to survive on crypto while pursuing MS in the US or Germany?  (Read 126 times)
Ranly123
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December 31, 2017, 09:24:03 PM
 #21

Will I be able to cash out and at the very least support my livelihood if I pursue Master's degree in countries like USA, Germany or Australia? I dont want to do odd jobs, only dedicate my time to studies and maybe trade a little when I need to make cash.

How much savings do you reckon is needed to survive for the 2 year course as a student? Will cashing out and such be problems being a foreigner?

It is always posible but it all depends on how you manage your study and your ways of income. In a country like US and Germany i think it will be hard for you to coup up your study while crypto is your only means of income. Also cashing out would be a problem if you dont have a foreign family, since the regulated wallets need some verifications before you can create one.

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bill gator
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January 02, 2018, 05:57:31 AM
 #22

Will I be able to cash out and at the very least support my livelihood if I pursue Master's degree in countries like USA, Germany or Australia? I dont want to do odd jobs, only dedicate my time to studies and maybe trade a little when I need to make cash.

How much savings do you reckon is needed to survive for the 2 year course as a student? Will cashing out and such be problems being a foreigner?

You should probably attempt to cash out a hefty amount prior to moving wherever you do end up going, because sometimes exchanges have a tough time working with visitors/immigrants, there might be delays or difficulties, even grey areas that you may have to overcome. I lived off of my bitcoin stash when I went through a tough time in other areas of my life. I made 2-years, on about $25,000 while i was pursuing a degree, eating pretty well daily and enjoying some nights out at the bar.

It's almost impossible to tell you how much you will need, because everyone is accustomed to a different standard of living. $12,500 a year in a country like Germany, or America might sound crazy to you, be it too little or too much. This question is similar to "How much $ do I need to live 1-year?", it has a million different answers and none of them are wrong or necessarily right. You should create a budget for yourself, figure out how much your living situation will cost you, figure out if you're going to have a car, how much you're going to spend on food (don't estimate, look up recipes, ingredient prices and even local restaurants). Once your figure out fundamentally how you'll be living, and where it should bee pretty easy to throw together a budget and figure out almost down to the penny how much you will need to make it. I would bring 10% extra, whatever you decide is enough, bring a little more just to be safe; and while you're doing the budget you should figure out what it will take to cash-out your coin if you should need to in the future.

You cannot hit a target you are not aiming at, so make a plan, set a goal and make it happen!

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January 02, 2018, 06:09:49 AM
 #23

From what I know some master's degrees like Master of Business and Administration (MBA) requires you to have a minimum time of work experience in order for you to enroll the course. So you have at least that time to save and earn money in order for you to fund your own master's degree. Even if work is not a requirement I still would suggest for you to stop studying first and try to gather work experience for you to understand more what you will pursue on a higher degree. Also to answer your question it will always depend on how much you will earn and how much time you will contribute to doing it.

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ricardobs
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January 02, 2018, 08:16:26 AM
 #24

Will I be able to cash out and at the very least support my livelihood if I pursue Master's degree in countries like USA, Germany or Australia? I dont want to do odd jobs, only dedicate my time to studies and maybe trade a little when I need to make cash.

How much savings do you reckon is needed to survive for the 2 year course as a student? Will cashing out and such be problems being a foreigner?

It is always posible but it all depends on how you manage your study and your ways of income. In a country like US and Germany i think it will be hard for you to coup up your study while crypto is your only means of income. Also cashing out would be a problem if you dont have a foreign family, since the regulated wallets need some verifications before you can create one.
It’s not possible. Yep, it is not possible, you need more better than crypto to survive, and by the way, withdrawal will be a difficult thing, especially in the U.S. unless you’ve got an actual job in Bitcoin that pays you like $50,000 to $100,000 in a month, if not, you’re not going to find it easy. Don’t think that making $100 to $300 or $500 (which is not on regular basis) from trading can help you. Better make good plans.

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January 02, 2018, 08:32:18 AM
 #25

-snip-
It’s not possible. Yep, it is not possible, you need more better than crypto to survive, and by the way, withdrawal will be a difficult thing, especially in the U.S.
-snip-

I don't understand how you can say this with such confidence, as if this statement is definitive. How can crypto not be enough to survive when the market cap of bitcoin alone is over $200 Billion. OP did not disclose his current holdings in bitcoin or other cryptos, so it seems a little foolhardy to assume that crypto would not be sufficient.

If OP had 50-bitcoins, wouldn't you agree he could easily pull this off without much second thought? I'd agree if OP has anything less than 5-10 bitcoins (and plans to keep any of it) then they should definitely look into all other options, because it just won't be enough and isn't reliable enough to plan your life around it.

In my experience and everyone I know has never had a problem liquidating their  bitcoin in the US for $. There is a constant supply, any big exchange can handle almost any amount you can throw at it pretty much instantly. Again, I'm not sure how the rules work for someone that moves there, is on a visa or other sorts of restrictions, but I know citizens and anyone with "residential" documents have no problem using almost any and all exchanges.

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January 11, 2018, 09:01:13 PM
 #26

Will I be able to cash out and at the very least support my livelihood if I pursue Master's degree in countries like USA, Germany or Australia? I dont want to do odd jobs, only dedicate my time to studies and maybe trade a little when I need to make cash.

How much savings do you reckon is needed to survive for the 2 year course as a student? Will cashing out and such be problems being a foreigner?
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TorbjornE
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February 12, 2018, 07:17:35 AM
 #27

You need to take into account the legislation of the future country of residence, so that not to break by ignorance one of the laws associated with crypto-currencies.
Example USA:
CryptoCurrency Tax Fairness Act

"A solution may be on the way. A new proposal by US lawmakers in the form of CryptoCurrency Tax Fairness Act (CFTA) introduced in the House of Representatives."

"CFTA is currently being debated in the U.S. Congress. If it is passed, it would subject digital currency to a similar tax regime as what currently exists for foreign currency. It would also eliminate a disincentive for people to use bitcoin (and other digital assets) in day to day transactions."

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