Is it possible to survive on crypto while pursuing MS in the US or Germany?

[synapsisxxx]

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?

[1713946965]

1713946965

[1713946965]

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[1713946965]

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[mrtryonebiggums]

It is entirely possible but that depends on how much money you have in crypto and how much you can afford to leave in versus take out. I would reckon you need about 50-100k depending on what region you are going in those countries and yes cashing out may be your hardest problem especially if you live in the USA they are really strict and their tax law just got worse the other day.

[synapsisxxx]

I can keep using sites like localbitcoin or paxful right? My concern is what about the bank account? I reckon I can have a bank account while in another country, so once I do encash to my bank account will that create legal problems for me?

[LeGaulois]

Living in the USA is just horrible for several points. In Germany, you need something like 15000€ per year to live like the average citizen (house, food, insurance, etc) The average cost to live in Australia is so high.. Between this 3 countries, Germany is by far the cheaper.

Once in Germany open a bank account and use Kraken to sell your cryptos and receive the money in your bank account. But be sure with what you do before, otherwise you may end working at McDonald.

[Hydrogen]

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?

The most affordable option for higher education aka college/university degrees I know of are a new thing called micro degrees offered on sites like these:

https://www.coursera.org
https://www.udacity.com

Micro degrees used to cost around $50 for the certificate. I can't comment on how useful the degrees are in finding a job, I've never undergone the process. I've done some of the free courses for fun and they seem like they're good.

To support yourself trading crypto, you would need to trade in massive sums. And you would need to be perfect. From a statistical perspective, its impossible, here's why. Let's say the average price movement of bitcoin is around 8.6% per day moving from 13000 to 15000 or the opposite. That gives you a maximum potential profit of 8.6% per day without factoring in losses and mistakes which cause you to profit only a fraction of total price movements.

When you do the math and break down the problem, it becomes more difficult. Especially over the long term where consistency is key. Suffice it to say you would probably need $10,000 minimum to trade. Then you would need to profit enough of a percent on that $10k to pay your bills. Of course, there would be some days where you lost money instead of making money.

If you want to get an idea of how much you can make trading, take a small sum like say $20 and see what percentage of that you can profit over a week/month. That will give you an idea of whether its feasible without having to make any long term commitments or risk more than you can afford to lose.

[signaturecoin]

You can, but you will need to use several bitcoin preloaded cards like the ones who wirex is offering right now ( i dont know if they ship to the US)

but yes, as long as you have enough crypto you will be able to do it, but why dont you withdraw the money on Usd?

[orka39]

I can keep using sites like localbitcoin or paxful right? My concern is what about the bank account? I reckon I can have a bank account while in another country, so once I do encash to my bank account will that create legal problems for me?

You will not create any problem by making bank account in that county.
Before making new bank account in another country, you need so much document to prepare.

[synapsisxxx]

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?

The most affordable option for higher education aka college/university degrees I know of are a new thing called micro degrees offered on sites like these:

https://www.coursera.org
https://www.udacity.com

Micro degrees used to cost around $50 for the certificate. I can't comment on how useful the degrees are in finding a job, I've never undergone the process. I've done some of the free courses for fun and they seem like they're good.

To support yourself trading crypto, you would need to trade in massive sums. And you would need to be perfect. From a statistical perspective, its impossible, here's why. Let's say the average price movement of bitcoin is around 8.6% per day moving from 13000 to 15000 or the opposite. That gives you a maximum potential profit of 8.6% per day without factoring in losses and mistakes which cause you to profit only a fraction of total price movements.

When you do the math and break down the problem, it becomes more difficult. Especially over the long term where consistency is key. Suffice it to say you would probably need $10,000 minimum to trade. Then you would need to profit enough of a percent on that $10k to pay your bills. Of course, there would be some days where you lost money instead of making money.

If you want to get an idea of how much you can make trading, take a small sum like say $20 and see what percentage of that you can profit over a week/month. That will give you an idea of whether its feasible without having to make any long term commitments or risk more than you can afford to lose.

I am afraid online courses are not an option, i plan to study CS or such from a proper post-graduate school, hopefully with a scholarship, be it survive on crypto or education loan. I have rapidly expanded my portfolio in the last 2 or 3 months, and plan expand more within the end of next year before choosing a university.

$20 is useless though playing the market with at least $2k does the trick quite well unless BTC decides on having a bull run all of a sudden in the midst of investment.  

[synapsisxxx]

You can, but you will need to use several bitcoin preloaded cards like the ones who wirex is offering right now ( i dont know if they ship to the US)

but yes, as long as you have enough crypto you will be able to do it, but why dont you withdraw the money on Usd?

Thats what I hope to do for the 2 years, I wont/cant be doing the odd and stupid student jobs unless i get the opportunity to turn into an assistant to a professor or something

[NUFCrichard]

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?

In Germany you wouldn't need $50k per year to study, as long as you are happy to live like a student.
I reckon 15.000€ would be enough per year for a flat share and living reasonably..

Living on Crypto would be more difficult. There is a supermarket that accepts Bitcoin and a take away service, but you'd be severely limited in your options, as well as getting badly ripped off by paying in Bitcoin for a 10€ pizza with 25€ of Bitcoin (more recently)

[synapsisxxx]

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?

In Germany you wouldn't need $50k per year to study, as long as you are happy to live like a student.
I reckon 15.000€ would be enough per year for a flat share and living reasonably..

Living on Crypto would be more difficult. There is a supermarket that accepts Bitcoin and a take away service, but you'd be severely limited in your options, as well as getting badly ripped off by paying in Bitcoin for a 10€ pizza with 25€ of Bitcoin (more recently)

Oh i will be living the complete student life no worries. Also Germany has the free tuition fee option, I am looking at TUM University quite seriously.

 And I wont be paying for ANYTHING ANYWHERE with bitcoin until LN is implemented.

[Hydrogen]

$20 is useless though playing the market with at least $2k does the trick quite well unless BTC decides on having a bull run all of a sudden in the midst of investment.  

...

There's a method behind trialing small sums to test potential profit. 

With trading, two of the main concerns are percentage difference, and consistency. Using smaller sums, like say $20, allows a person to do real world tests on percentage gain/loss and consistency, without the high degree of risk present in using larger sums like $2k.

Whether a person is trading $20 or $2k the percentage gain or loss will remain the same. It may be the percentages that matter. Trading small sums can also be good to gain experience and test different trading strategies.

Sometimes I test different sports betting strategies with small sums. I'll start with $20 with the goal to turn that $20 into $200 for a 10x gain. I've succeeded a few times and failed far more times than I've succeeded. The failures can be valuable learning experiences.

[synapsisxxx]

$20 is useless though playing the market with at least $2k does the trick quite well unless BTC decides on having a bull run all of a sudden in the midst of investment.  

...

There's a method behind trialing small sums to test potential profit. 

With trading, two of the main concerns are percentage difference, and consistency. Using smaller sums, like say $20, allows a person to do real world tests on percentage gain/loss and consistency, without the high degree of risk present in using larger sums like $2k.

Whether a person is trading $20 or $2k the percentage gain or loss will remain the same. It may be the percentages that matter. Trading small sums can also be good to gain experience and test different trading strategies.

Sometimes I test different sports betting strategies with small sums. I'll start with $20 with the goal to turn that $20 into $200 for a 10x gain. I've succeeded a few times and failed far more times than I've succeeded. The failures can be valuable learning experiences.

True I agree with that, sometimes the market reacts unusually too,  but a high volume exchange does the trade especially with small percentage gains since the big players in the market always seem to move it enough to take back their targets and its always a matter of playing in the safe zone.

[surix]

I survived my master degree in France with a scholarship of 1000euro per month, and college fees are free for me as well.

[hungryforapples]

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?

Come to Serbia or Romania and you'll live like a king with your crypto savings. 

[HeRetiK]

I can keep using sites like localbitcoin or paxful right? My concern is what about the bank account? I reckon I can have a bank account while in another country, so once I do encash to my bank account will that create legal problems for me?

Localbitcoins has stopped their services in Germany, be aware of that. Paxful, I don't know about. If you want to live off crypto while in Germany, you'll likely have to rely on exchanges such as Kraken, Bitcoin.de or Bitstamp. There shouldn't be any legal problems (disclaimer: not a lawyer) but be aware that while you reside in Germany, any incoming bank transaction from outside Germany of EUR 12,500,- or more needs to be reported to your local authorities and bank beforehand (AWV Meldepflicht). Otherwise you might head into trouble.

[dynospytan]

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 possible but it will depends on how you manage your earnings. Like you I am also a student and I am taking a BS Computer Engineering. Before I was working at a fast food chain but thanks to bitcoin because it sustained all my needs in my school. As long as you are good in managing your money you can survive. Just do more hard work and think always to your dream or goal in life.

[pitiflin]

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?

Entirely on your own  it would really really hard for you to depend upon crypto if you're new to this and you don't have any initial investment investment then you'll have to find an alternative. And studying in the US for 2 years you'd need money for your education, your stay, your livelihood expenses, other expenses. Better borrow an education loan. You'd an yearly requirement of 45000$, trust me.

[MairaObergh]

If you're going to depend on just trading, that could be extremely risky. One bad move and all is lost. I was going to make another point, I can't remember it. Anyway, if you decided to do this, just have to consider and accept the possibilities.

[mutrang23]

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?

I also want to study in an advanced country like UK or USA but this is really hard for me. When you immigrate to a country, you have to list the property and they are taxed this makes me think.