Sustainable income from crypto earnings
Many people want to be financially free and some are mostly depending on their crypto earnings to achieve that financial stability. This has been the new trend because there are enormous opportunities available in the crypto world. In order to be financially free, there is also proper planning required. There are many income streams available in the crypto world but they are also affected by many parameters. We will not be able to get a stable income both during a bear market as well as during a bull market. That's why we have to plan it in such a way that none of those parameters affect the equilibrium that we expect.
In this article, I'm going to be discussing the parameters that would be affecting our goal towards sustainable income from crypto earnings and some ideas that would help in managing them.
Proper market stability
The market plays a very important role in our growth. Most of the time the market decides if we would be doing good or bad in the crypto world. Imagine a situation where we are able to earn very well but the market is very bad which makes the earning slow. There can even be times when the market is very good but our earnings are very small and we have to keep looking for the right opportunity to improve our earnings.
In order to make our income streams sustainable, we have to make sure that the income is not affected by the market situation. Having our money in the form of stablecoins can be a good possibility but in addition to that we have to keep looking for the right investment to make and that would take the invested value to a good position. The investment should be a balance between both market-affected investments and investments that are not affected by the market conditions. We need market-affected investments because during a good market, there is also a possibility that our investment could take our value to a great position.
Multiple income sources
Always having multiple income streams is very important and that will help us keep the income sustainable. The reason why people keep saying this is because if we are dependent on only one income stream and for some reason, if that income stream stops, we would end up suffering. We can plan and have multiple income streams and even if one income stream stops, we can focus on the other income streams and keep going. This would also reduce the loss we would incur if some income stream stops or takes away our investments. Managing the asset plays a very important role in this.
Mostly passive income
Focusing more on passive income is very good because we don't have to do any work and the income keeps happening. There can be cases where we might have to work a lot first to bring passive income. Most of the passive income streams look for initial investments and the initial investment will also have to be very strong. Without proper initial investment, it can be hard to create passive income streams. There are also streams that are not money based by based on our efforts, we might have spent a lot of time and effort in building something and that would gradually start giving us passive income after a point of time. These types of passive income sources are hard to find but the focus can also be on finding something like this.
Real-world investments with crypto earning
In order to keep everything safe, it is also good to take the money out, pay the taxes and do some real-world investments with the money. The main reason is that we cannot be sure about the tax regulations government would bring and at the same time, there are risks in keeping our money as crypto itself. If the money is on a bad project, there is a high possibility that the next day when we wake up the money would be completely gone because of some odd reasons or even because of the market conditions. It is always good to take the money to the real world and also have some real-world investments that are backed by the regulations and government norms so that we have a small protection over there.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Vote@balazas aHive Witness
Vote@kanibotas aHive Engine Witness
When I learned different platform to earn some crypto I got interested on it. Although it's not that easy to earn instantly but it is worth trying for.