Does Digital Currency can Activate Someone's Financial Freedom?

[fiulpro]

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?

Well I think by freedom I think it's freedom from the government , for the big business men ...freedom to do whatever you want to with the money you own ..

The freedom is not minning or making money , freedom is actually being the boss of your own funds.

Banks can close your account anytime and you should be able to comply with that ...that's how government works ..but bitcoins is something that we can believe they can't control ...

For better or worse it is also saving people from oppression...

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[michael_97]

I don't think that digital currency can activate someone's financial freedom, it's simply like buying a company's stock and one just cannot have financial freedom just by investing in some assets. Buying cryptocurrency can act as a topping on the cake but for that, you need to make sure that you are ready with the cake.
Also, now you cannot expect to see that rise in the cryptocurrency again because it's not a hoax anymore, now people are buying & selling it at their pace but investing in it by thinking that it will give them financial freedom will not going to work.

[bitbunnny]

It's possible but very difficult.
To get financial freedom and to get fully independent from fiat money someone should have constant income or profit in cryptocurrencies and that is very hard to achieve. Even if someone makes it it's usually on some period but on long term it's almost impossibe. Unless for early adoprers who kept their Bitcoin long enough to make profit so big that enables them financial freedom for life.

[livingfree]

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.

But many will think twice now about investing even to bitcoin if their mindset keeps telling them that it's kinda late but to be honest, it's never too late for someone that wants to invest to bitcoin.

Many studies says that even owning 1 bitcoin at the current rate is likely to give you much wealth in the future. Only applies to those people that are believing that there's something more in the future about bitcoin.

[SirLancelot]

The system has been developed to bring financial freedom to anyone that understand it well and decide to apply it to that particular area where it would be useful, which makes it depend on the approach of each and every one of us to it and our belief about it. There are so many people that no matter what they do in the crypto space, they don’t get it right and reason why you see many of them criticizing the crypto space or against what you have said.

From the first point, people don’t believe holding it as an assets, but we have seen how holding it has paid for some people in the past, and mining, mining may be expensive, but those than can handle it will surely get the financial freedom while trading is still the easiest way to me because you get instant result on that one.

[trickyriky]

Op, the way you put your post is not really the fact, it is not a guarantee that digital currency would get someone into being financially independent. It is possible though but not in all cases because you can also lose everything if you invest in a shit coin.

Cryptocurrencies provide the highest level of financial independence with the specification of digital financial independence. Since, for example, having a case full of dollars, you will also be financially independent, and observing some accuracy in their spending so as not to attract attention to your own person, you will be able to be financially independent for a rather long period.
So now, the most financially independent people can be considered those who have a sufficient amount of cash or crypto.

[minersday]

Well,  cryptocurrency presents the kinda financial freedom where you can easily send and receive funds from any part of the world with the lowest transaction fees seen in the financial ecosystem. Thus the kinda freedom cryptocurrency gives the people who decide to use it for their financial transactions...

[TheUltraElite]

It seems to me that getting financial freedom to get with digital currency is difficult but possible. 

The two of them are not inclusive or exclusive. They are different things and mean different things to separate people.

First of all, everyone has his own freedom. 

Freedom in life and financial freedom are not the same thing. Most people who are using banking system are free physically by not financially free.

Secondly, you must first invest a lot in order to increase it later.  And so if you have zero now and tomorrow you want to be financially independent this does not happen.

Not exactly correct, because cryptocurrencies again dont give you a complete financial freedom. We are making crypto more centralized with governments coming up with laws against crypto and attempting to create new coins that would be centralized. Thus we are moving away from financial freedom. In true sense a financial freedom in the wrong person's hand will lead to crimes, which is why governments try to prevent it.

[jake zyrus]

I don't see financial freedom with those things. Yes, trading, buy and hold, and mining can help you to earn but that doesn't mean your financially free. That you don't have to worry about your expenses and daily living, because in crypto, it's a lot of risk. You may gain but you're also at risk of losing.
Well it's still possible if you were born with a golden spoon.

[jostorres]

cryptocurrencies again dont give you a complete financial freedom. We are making crypto more centralized with governments coming up with laws against crypto and attempting to create new coins that would be centralized. Thus we are moving away from financial freedom. In true sense a financial freedom in the wrong person's hand will lead to crimes, which is why governments try to prevent it.

Everyone do understand what centralization is, and even when you see people keying in to some of those centralized coin that is being released, they do because they wanted to explore the opportunity that is available in them , but they never take those coin as the real coin that would give them that freedom of their finances.

When it comes to income generation, people are ready to take any system provided it bring money, but what bitcoin uses to supersede them is that anonymity that money of these centralized system are willing to give in to, because it will never benefit them, but bitcoin can easily do that because it is not interested in the profit but what it can do for the user, and this is why decentralized coin like bitcoin will always be the lead.

[fullhdpixel]

I don't see financial freedom with those things. Yes, trading, buy and hold, and mining can help you to earn but that doesn't mean your financially free. That you don't have to worry about your expenses and daily living, because in crypto, it's a lot of risk. You may gain but you're also at risk of losing.
Well it's still possible if you were born with a golden spoon.

It becomes a financial freedom tool for those that know how to unlock its secret, for me, crypto has even gone beyond just trading or buying and holding, I mean it has helped me beyond that, what cryptocurrency has done for me, is what I have been struggling with for year.

I am an importer of goods and I buy from some of these sites, there is a particular site where I wishes so much that I could be importing from because of the quality product that they have and their very cheap product, but the main barrier for me all these years has been issue of payment because western union and other means of making payment to them from my country does not cover that area,. But since the establishment of cryptocurrency, I have been able to easily communicate with the seller in terms of payment and this has increased my financial base a lot.

[shark1006]

It seems to me you are right, but I need to clarify. If you look more deeply at this interpretation, financial freedom applies to Bitcoin owners and traders as much as possible because it is the most decentralized asset. But in general, you are absolutely right, crypto users are financially free and independent

[TheUltraElite]

Everyone do understand what centralization is, and even when you see people keying in to some of those centralized coin that is being released, they do because they wanted to explore the opportunity that is available in them , but they never take those coin as the real coin that would give them that freedom of their finances.

It is their nature to take that risk though so these coins propagate a lot. Many shitcoins are born just because they are promoted by some venture capitalists like Btrash by RVer and CraigFraudstar. Its not about them but also the exchanges like Binance which allow a centralized system to trade. Again Dex are not that secure, but they need more awareness.

When it comes to income generation, people are ready to take any system provided it bring money, but what bitcoin uses to supersede them is that anonymity that money of these centralized system are willing to give in to, because it will never benefit them, but bitcoin can easily do that because it is not interested in the profit but what it can do for the user, and this is why decentralized coin like bitcoin will always be the lead.

Bitcoin is not completely anonymous, its pseudo-anonymous. Thats why people are paranoid about using mixers and tumblers, though I feel that as long as you are not doing anything that is illegal and thus pose risk, they are no need for any sort of mixing for your coins. Bitcoin is though the only coin they need to keep. Rest other out there are nothing but money making schemes for others, not you.

[Gi01]

Financial freedom is defined as the ability for an individual to be totally in charge of their financial transactions with no limitations. Digital currency such as Bitcoin provides the avenue which can be described as financial freedom since everybody using Bitcoin can decide when to do their transactions. Transactions can be done at any moment in time and anywhere you find yourself.

[EdvinZ]

1) A decentralized cryptocurrency definitely gives you the freedom to transfer any amounts of money to anyone on the planet with minimal fees. Moreover, transactions often take place within a few seconds. 2) As for achieving financial freedom with the help of cryptocurrencies, this involves investing in digital assets, a thorough analysis of the market situation, and taking all the risks associated with this activity.

[bhabygrim]

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

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.

I agree we could use crypto to earn and make some more business not just in crypto but also in real life.
Of course we shouldn't just rely on crypto we should also have some back up's in real life so the title could be true,
Crypto or Digital currency can activate someone's financial freedom it just all depends on how they would handle it.

[Kakmakr]

You know financial freedom is the freedom to do transactions with anyone all over the world, without any restrictions and also the freedom to send ANY amount of money to that person. Centralized financial services are also a barrier to entry for a lot of people and this is why there are millions of people without Bank accounts.

Bitcoin allows anyone with internet access and a mobile phone to store their wealth <no matter how little it is> and it also allows them to buy whatever they want to buy or sell. If you want to use your bitcoins to donate money to say WikiLeaks, then Bitcoin will allow you to do just that. <We saw how centralized services like Credit card companies, blocked payments to WikiLeaks>  

https://www.forbes.com/sites/andygreenberg/2010/12/07/visa-mastercard-move-to-choke-wikileaks/#37f45a3e2cad

[ethereumhunter]

People who invest in bitcoin from the first time bitcoin launch has reached financial freedom, especially for who have much bitcoin. They already cash out their bitcoin and convert it into fiat in 2017 ago, and now, they become a billionaire in their city. But I don't think that they will reveal to the public that they have a lot of money from cryptocurrency because that will trigger the government to search for more information about them. It is better to reach financial freedom by secretly without anyone knows so we can enjoy the wealthy, prosperity. And we can make our time worth doing other good things.

[darewaller]

People who invest in bitcoin from the first time bitcoin launch has reached financial freedom, especially for who have much bitcoin. They already cash out their bitcoin and convert it into fiat in 2017 ago, and now, they become a billionaire in their city. But I don't think that they will reveal to the public that they have a lot of money from cryptocurrency because that will trigger the government to search for more information about them. It is better to reach financial freedom by secretly without anyone knows so we can enjoy the wealthy, prosperity. And we can make our time worth doing other good things.

How many of those people do you still think will have that their holding in their wallet, many of them must have even changed it all before bitcoin even get to reach its last all-time high, and those who have even change their money when it reached new high, I hope they are able to use the money to invest in something good outside the world of cryptocurrency because that is the only way they can fully guarantee financial freedom.

Bitcoin is good to be held as asset and when it grows and reaches all-time high, it could guarantee a future of financial freedom, but don’t forget that this use of bitcoin for investment will only be a temporary thing and never be permanent, it will stop when the volatility of bitcoin reduces and people start making payment with it only.

[Chrystora123]

Op, the way you put your post is not really the fact, it is not a guarantee that digital currency would get someone into being financially independent. It is possible though but not in all cases because you can also lose everything if you invest in a shit coin.

OP only explained what he found in the field, and I think it's a reality because some people are already financially free because of cryptocurrency and digital currencies.

People who invest in bitcoin from the first time bitcoin launch has reached financial freedom, especially for who have much bitcoin. They already cash out their bitcoin and convert it into fiat in 2017 ago, and now, they become a billionaire in their city.

The people who first invested in Bitcoin (2010-2016) and Ethereum (2013-2016) then sold their coins and convert it into fiat during the 2017 Bullish market were those who enjoyed financial freedom.