Is Making a Living on Crypto Possible?

in LeoFinance2 months ago (edited)

People do different things to earn money and make a living. You can make money in crypto, but can you make a living on crypto? In a bull market, you see people quit their job because they make a lot of money that they cannot do so quickly doing a job. So, what’s the point of doing a job?

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When the crypto market changes its color and turns red, things change suddenly. You cannot make that amount of money that you make in a bull market. Moreover, they lose money in a downtrend market. They get scared and exit the market with a huge loss.

Now making a living on crypto is way hard, so they go back to their old job. If you really want to make a living on crypto, you have to be serious about it. When you do a job in a company, is that a hobby? Of course not. You take that seriously. You work hard to do better and build your career.

If you are in crypto, the bull market is a time to get the crops in your home. If you think like a farmer, they work hard to grow crops. There is a time when they cut their crops and bring them home. They are very happy at that time. They sell it in the market, do everything that they plan to do and at the same time, they save money because they need it later.

When you make a lot of money in a bull market, don’t think the situation will be the same always. You should not spend your money recklessly. You should be more careful at that time. You can buy things that you like and you should save money so that you can do different things later.

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People might get hopeless when they see the crypto market keeps going down and there is no sign to change the trend. It is very normal in the market. The market moves through a cycle. When the market is in a downtrend, cryptocurrency prices will go down. Maybe you thought the crypto market would hold at a certain support level. After BTC's all-time high, which support holds so far? Some people say the Bitcoin price will not go below 20K. Now you see what happened.

This is the time you can accumulate crypto and grow your crypto portfolio. What you earned in a bull market, you can invest in crypto according to your plan. A bear market cannot stop you from making money. You can do many things like making content, playing games, trading, and so on to make money consistently. Don’t take crypto as a hobby. You have to change your mindset to make a living on crypto.

When you make a plan about how to deal with different situations, you can handle them in a better way. You don’t have to go back to the job to make a living because you still make money on crypto and you have savings to take care of everything.

So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.

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Definitely all about mindset and learning from our mistakes. Hopping on the potential opportunity of this bear action. Keep rockin Rez.

!LUV

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Things will be different next time because you saw what happened and learned from your mistakes. Thank you @captainquack22! Have a great time!

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It’s always prudent to have multiple sources of income.

When you have to spend fiat for your day to day, you would be forced to liquidate crypto regardless of market condition.

Can it be done? Sure, but it would require discipline to sell into the bull market, hoping the amount is sufficient to ride out long crypto winter.

Yes, multiple sources of income definitely help. When you are in crypto, you can make multiple sources of income. You should go for multiple sources of income if you think of doing crypto full-time.

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