Fiat & Crypto - Effective Expert Advise

[oktana]

OP, you cannot live the life of not checking the price on the price tag if you aren’t your own boss. Unless you’re paid really well, but then, that would be temporary because if you got fired, you’ll fall back to checking prices before buying stuff. You said your pay grade is good enough, if you’re working for someone in your current job, I’ll strongly suggest you work a lot harder. No matter how good the pay is, you can always get fired. So, you may want to start a business of your own. It could be anything, but be the boss. And from there, scaling happens. The wealthy people we see today didn’t make their money working for someone, they started their own thing (even if it felt small at the start).

[summonerrk]

~~~

It is important to be able to not waste your time and energy on too many things. You need to be able to focus on a narrow specialty where you are clearly better than others. For example, you know how to draw, or understand the peculiarities of the market, or maybe good at mathematics. In general, I am for the fact that you need to focus on your predispositions. Also, in order to live, despite the price tags, you need to understand what standard of living you want to get, living only on the profit from cryptocurrency. You need to determine the exact size of the deposit, the percentage of profit from which will provide you with a decent living. I think for most it's $300k.

[DVlog]

It is important to be able to not waste your time and energy on too many things. You need to be able to focus on a narrow specialty where you are clearly better than others.

I can not agree more with your statement. Some people just jump from here and there to make things hard for themselves when focusing on one thing gives quality outcome. Another thing we should keep in mind is that it's not good practice to look for suggestions on the internet. Your passion and interest are well known by you not by some youtube. Find your interest and start developing it so that it can generate money for you. 

[Spaceman1000$]

Comfort Weather to Everyone,

It has been a long time outside cryptocurrency forum world that I have been with/to, and here I am still looking for another Plan to achieve my Goal which is to have the Life of not checking the  "PRICE on the PRICE TAG".

I'm trying to learn all Trades just to discover what I am good at. Unfortunately, I can't say that I have Learned and Discover my expertise yet, what I do recognize is I am versatile in everything in any kinds of industry I have worked with.

my Pay Grade currently  is just  Enough for the Skills that I am executing (Exchange for Fiat).

However, I know the capability of cryptocurrency because it has Facts of its growing Value, way back let's say 2009 up to date. I have known Names - evidently showed Lifestyle change because of Crypto Savings.

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".


P.S. Bees don't waste their time explaining to flies that Honey is better than shit - theyoganists. credits to the Owner of this quote

If you have a satisfactory salary and you still want to go into cryptocurrency, I will advise you learn to understand how the market works, and since you already have the knowledge of investment and how people can invest and hold their bitcoin for a long time, since you're not in a rush, you could buy some coins gradually and start holding them till they yield good profit overtime.
 you said you're trying to learn all trades, you should continue with the learning process, take time to study a trading pattern that will easily resonates with you, because the market is volatile so you need to be careful with your decision.

[Dunamisx]

If you're having fiat today, then as much as possible to make investment in bitcoin or any other cryptocurrency because it's in many way far better than the holding our asset in local currencies because they will depreciate over time, we may try to manage having some in fiat but the most of our investment should be in cryptocurrency because of the vast financial opportunities that comes with crypto than in fiat.

[suzanne5223]

my Pay Grade currently  is just  Enough for the Skills that I am executing (Exchange for Fiat).

Exchange of crypto to fiat currency is never a skill and it's something a newbie in crypto with simple transaction knowledge can do.

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

You never make a statement about having a tech skill but according to the information you provided, you can the loan service, or extend your P2P trading service to the most reputable and used P2P crypto exchange.

[tjtonmoy]

Diversification is the key as people say and I totally agree with it. Financial stability comes from financial freedom. In order to achieve with unit something that is not affected by inflation. And I can only think of one thing which is Bitcoin. But that doesn't mean you should only stick to Bitcoin and hope for the best. The future is uncertain and we can't predict it. So anything could happen at any time. For this reason don't rely on only one thing.

Making savings in Bitcoin is a great choice for the long run. But in order to survive between the time gap, you need to have other thing in your hand if you want to do it properly. You're living your life comfortably with what you earn, but that doesn't give you stability. And also you can't rely on one thing. Fiat money isn't bad thing if you use it properly. Money makes more money. In order to grow what you already have, you need to do investment. Keep investing on Bitcoin while you focus on other thing. Because Bitcoin investment will take time so meanwhile we should find other ways to increase your income. That's how we fight inflation and bring stability to our life.

[KingsDen]

Has anyone seen or heard of anyone that is completely financial stable that they do not need to invest again, no business or plans to earn, they only spend from what they earned or establishments that is functioning. If there is such a person, I would want to know.

Op, trying to be more financially stable is a good gesture, doing it in a crypto way is not something you should seek an advice because you are already into cryptocurrency and you know what is good for you. Again, the adage of flies and shit in OP, summarises it all.

If you're having fiat today, then as much as possible to make investment in bitcoin or any other cryptocurrency because it's in many way far better than the holding our asset in local currencies because they will depreciate over time, we may try to manage having some in fiat but the most of our investment should be in cryptocurrency because of the vast financial opportunities that comes with crypto than in fiat.

In as much as I support this, we should also not forget the risk of cryptocurrency. There are alot of risks associated with cryptocurrency ans when mentioning crypto, try to be specific. Bitcoin is the only coin that can be trusted for many years

[komisariatku]

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

If you already have a stable and more than sufficient income then you can enjoy what you get and don't need to look for anything else. However, if you want passive income then you can start by investing. If you have a lot of money, then the investments you make will have lower risk than someone who has little money. The concept of Bitcoin investment is actually simple, we just need to hold it until the target price we want is reached. If you have a lot of money then you don't need to rush to sell your bitcoins because of a sudden need, if you can do this then investing in bitcoins is a very good way for you to aim for financial freedom in the future.

[Yatsan]

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

If you already have a stable and more than sufficient income then you can enjoy what you get and don't need to look for anything else. However, if you want passive income then you can start by investing. If you have a lot of money, then the investments you make will have lower risk than someone who has little money. The concept of Bitcoin investment is actually simple, we just need to hold it until the target price we want is reached. If you have a lot of money then you don't need to rush to sell your bitcoins because of a sudden need, if you can do this then investing in bitcoins is a very good way for you to aim for financial freedom in the future.

Seeking for more is not a bad thing however, seeking for financial stability from an investment is. Investments can generate profit but will not always result to financial stability unless it generates consistent profit such as with normal businesses. But with cryptocurrencies with volatile market prices, you may only earn profit thru right market analysis. Even experienced ones in this industry are still experiencing loss which should be enough to manage our expectations. The amount of profit as well would depend on the amount of money you will invest which is also a factor. Based on the present, this idea is unrealistic but is valid at some point.

[komisariatku]

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

If you already have a stable and more than sufficient income then you can enjoy what you get and don't need to look for anything else. However, if you want passive income then you can start by investing. If you have a lot of money, then the investments you make will have lower risk than someone who has little money. The concept of Bitcoin investment is actually simple, we just need to hold it until the target price we want is reached. If you have a lot of money then you don't need to rush to sell your bitcoins because of a sudden need, if you can do this then investing in bitcoins is a very good way for you to aim for financial freedom in the future.

Seeking for more is not a bad thing however, seeking for financial stability from an investment is. Investments can generate profit but will not always result to financial stability unless it generates consistent profit such as with normal businesses. But with cryptocurrencies with volatile market prices, you may only earn profit thru right market analysis. Even experienced ones in this industry are still experiencing loss which should be enough to manage our expectations. The amount of profit as well would depend on the amount of money you will invest which is also a factor. Based on the present, this idea is unrealistic but is valid at some point.

Yes, you are right that bitcoin has a fluctuating price so bitcoin trading cannot guarantee financial stability or monthly profits. It is very difficult to earn a stable income from bitcoin through trading even if it is done by professional traders.

I don't dare advise anyone to trade Bitcoin and make a profit from it, especially if they don't have other income such as a job that provides a stable income every month. It's too risky if we rely on trading, I always recommend holding bitcoin because it's easier and we save bitcoin for future investment, for the long term, don't make bitcoin for main source of income because it's too risky.

[Captain Corporate]

I would say passive income is the way to go in the world if you do not want to work. Bitcoin and passive income is not all that common but also not impossible. If you have a good amount of bitcoin invested, you could get from %2 to %5 levels yearly return from safe places, that means if you have 100k, then 2-5k per year income, plus on top of that bitcoin prices will go up as well. People should look into that type of thing, reinvest if you can while you are working, since you have a decent salary, keep on earning and living from that, whatever you earn from the passive income goes back to investing, and if you can keep on saving more then keep investing that too. Eventually, one day, your passive income will be enough for you to live with, without having to work.

[Dr.Bitcoin_Strange]

If you want to invest in cryptocurrency, then you should start with Bitcoin. There are thousands of altcoins in the space, but before you get convinced to buy any, you should have a significant fraction of bitcoin in your wallet. There's always the law of investment, which is not to carry all your eggs in one basket. You could be seeing your job as your sustainable source of income, but you don't know what can happen the next moment. If you have set up your own streams of income, you definitely will not be in shit, but if you have altcoins as your only backup plans, then you might lose out entirely.

[Mauser]

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

It's a bit hard giving general advice without knowing more about you. From what I understand here is that you have a good salary from which you can save money each month. Having a fixed savings rate that we take out from our salary immediately is the best approach to not overspend and will lead to longterm financial stability. A few years ago the question between fiat or crypto currencies was easy to answer because the interest rates where so low and there was no point in saving fiat money. But the world looks a bit different, banks are offering up to 5% for a savings account with new money. This increases the opportunity cost for cryptos and we need to make sure we can achieve those returns. Bitcoins is definitely a great longterm investment to save money in, but when choosing alt coins to trade we need to make at least 10% per year to compensate for the risk we take.

[TimeTeller]

If you want to invest in cryptocurrency, then you should start with Bitcoin. There are thousands of altcoins in the space, but before you get convinced to buy any, you should have a significant fraction of bitcoin in your wallet. There's always the law of investment, which is not to carry all your eggs in one basket. You could be seeing your job as your sustainable source of income, but you don't know what can happen the next moment. If you have set up your own streams of income, you definitely will not be in shit, but if you have altcoins as your only backup plans, then you might lose out entirely.

As any investment piece of advice, you should always diversify your portfolio.
Whether in crypto or other assets. You should think of the contingencies and worst possible scenarios that you may encounter with.
Alternative options on how to survive will give you an edge to combat possible crisis.

[Dr.Bitcoin_Strange]

As any investment piece of advice, you should always diversify your portfolio.
Whether in crypto or other assets. You should think of the contingencies and worst possible scenarios that you may encounter with.
Alternative options on how to survive will give you an edge to combat possible crisis.

I have had tough times with altcoins, and that's why it's usually difficult for me to tell people, mostly newbies, to diversify their portfolios. Let it be a choice they make by themselves or from what others have told them too. I know how much I have lost with altcoins, though it might be small if I mention the figure, but that was fucking money I sweated to earn; I didn't pick it up on the street. Altcoins can give one the privilege of earning some profit in a short period of time because of their pump and dump mechanism, but the question is: what is the certainty that the token is going to be pumped?

[ancafe]

It has been a long time outside cryptocurrency forum world that I have been with/to, and here I am still looking for another Plan to achieve my Goal which is to have the Life of not checking the  "PRICE on the PRICE TAG".

We wish you luck and we want to hear news of your success another time. Life without planning is the same as people who don't work smartly because even though they can make money every day, their ability to improve their level of income will never change.

I'm trying to learn all Trades just to discover what I am good at. Unfortunately, I can't say that I have Learned and Discover my expertise yet, what I do recognize is I am versatile in everything in any kinds of industry I have worked with.

Trading is not something that is easy to do and you have to take risks if you want to be successful in trading. The relationship between risk and failure are two things that are quite close but it is not recommended to get involved in trading when we do not have the knowledge. Expertise will be formed when you have a good understanding of trading while experience will take you to the stage of perfection.

However, I know the capability of cryptocurrency because it has Facts of its growing Value, way back let's say 2009 up to date. I have known Names - evidently showed Lifestyle change because of Crypto Savings.

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

In a way, you already know the capabilities of cryptocurrencies now and then how you can use them is your decision. Talking about crypto in general, there may be many coins in it and maybe you just need to choose one of the best. As many have concluded, Bitcoin is one that has potential in the future and from there you can learn to pursue your desire to generate success in it.

Financial stability must be prepared from as early as possible and if you have a steady income from a monthly salary then learn Bitcoin because only in that way will you gain financial freedom and also be able to maintain the value of the currency you own. You can adjust approach in a responsible way and there is no need to force yourself to pursue too large assets in the near future if you don't fully understand.

[Marvell1]

As any investment piece of advice, you should always diversify your portfolio.
Whether in crypto or other assets. You should think of the contingencies and worst possible scenarios that you may encounter with.
Alternative options on how to survive will give you an edge to combat possible crisis.

I have had tough times with altcoins, and that's why it's usually difficult for me to tell people, mostly newbies, to diversify their portfolios. Let it be a choice they make by themselves or from what others have told them too. I know how much I have lost with altcoins, though it might be small if I mention the figure, but that was fucking money I sweated to earn; I didn't pick it up on the street. Altcoins can give one the privilege of earning some profit in a short period of time because of their pump and dump mechanism, but the question is: what is the certainty that the token is going to be pumped?

If you have invested in bitcoin, you don't need to invest in altcoins for diversification and it is not called portfolio diversification to minimize risk because it is all crypto, and all are dependent on bitcoin. If bitcoin collapses, there will be no altcoins that can continue to exist to minimize your risk. Diversification is when we invest in unrelated assets such as gold, real estate...But is diversification really necessary when our capital is so small? Why don't we focus on a single investment to get maximum returns?

[Dr.Bitcoin_Strange]

If you have invested in bitcoin, you don't need to invest in altcoins for diversification and it is not called portfolio diversification to minimize risk because it is all crypto, and all are dependent on bitcoin. If bitcoin collapses, there will be no altcoins that can continue to exist to minimize your risk. Diversification is when we invest in unrelated assets such as gold, real estate...But is diversification really necessary when our capital is so small? Why don't we focus on a single investment to get maximum returns?

Personally, for me, I can say that altcoin is a game, and investing in it is based on an individual's decision to choose if they can play the game because it's either a win or a loss; nothing is certain. Some people invest in altcoins, and they get lucky along the line to make a profit from the altcoin they invested in; meanwhile, they still invest in bitcoin too. Investing in altcoin might not really be bad for an experienced crypto expert who knows the ins and outs of the market. Definitely, they can be able to handle the risk and also know when to sell the tokens when the price is dumping, but for newbies in the crypto space, altcoin is something they need to avoid until they become more knowledgeable about crypto.

[Raflesia]

So In conclusion, I respectfully ask "what is your Effective Expert Advise for a Person (me) that has enough Salary but still want more Financial Stability using cryptocurrency".

I am not an expert on this but if I may say so, when you believe that Crypto can make you financially better then learn first.
It is important as you said in the last quote that bees do not need to waste time explaining to flies that bees are better than dirt so indeed in this case I also will not comment much because you have to learn more about what you want to do.
Investing in bitcoin will always be the best advice, it's just that when working on it you have to go through the way you learn yourself because after all, when you only listen to the words of others then it is the same as you making your last quote as your own representative form.