How to Pay off Debt using Crypto

Crypto is getting stronger each year. Market prices can go up and down but the crypto continues to stay stronger in overall society.

You can use the crypto profits to buy life items for yourself. You can use crypto to buy home, car, bike and some people are also using the crypto to pay debt.

How do people get into the debt?

People get into debt for various reasons - to get student loan, to get loan for home, to get loan for medical emergency, to get married.

This approach leads to get you into debt and then it takes years to pay those debts. In this post, I want to show you what are some of the means to pay off debts.

Here are some of the ways you can get off the debt using crypto.

Trading Crypto

A lot of people are getting into crypto investment and trading short term to book the profits. This is one of the popular way to get out of the debt in the short term.

Risk here is extremely high. You can't time the crypto market nor you can bet on it to be profitable by your own plans. But there are fundamentals that can protect you.

You have to find out various traders and their strategies on how to trade better. Based on their trades you can learn as well. There are some trade platforms that allow you to copy trade.

This is risky and also requires a lot of learning in order to make money from the crypto. But the rewards and the efforts put into are totally worth the efforts.

Crypto Content Creator

I blogged about this part plenty of times in the past. There are many sites poping up that pay you in crypto for putting out the content. You earn good money from them.

Take example of noise.cash and read.cash. You can earn good money from the sites if your content is providing the value to the users and the platform in general.

There are also sites like hive.blog and leofinance where you can earn the crypto too. Just make sure to spread yourself across multiple platforms and earn crypto.

Here the risk is low and rewards are linear. More power you have on platform, the more you earn. You also earn crypto that can be converted into the stablecoins.

Once you turn the stablecoins and then start to pay off the debt, it becomes easier. But here the only catch is that it takes time. You have to progress slow and yet aim for long term.

Start Selling Online & Offline in exchange for Crypto

You can't do just writing and trading and pay off the debt quicker. You have to start selling stuff be it your own or from others to make good money.

Offline selling would require a lot of licenses and the process in order to make some good money. You can also sell online and have limited inventory.

I know many who are selling the products online on facebook shop and whatsapp shop. And earning money from the sales.

Here the risk is low but the growth is good and also if you accept bitcoin cash you would make good money. Start accepting Bitcoin Cash and SmartBCH.

You can learn a lot about this from the noise and readcash users who have setup their own shop on social media.

Stablecoins & Utility Investment in Crypto

Why not invest into stablecoins like FlexUSD, Terra UST, BUSD? When you do this you are storing the amount that you can withdraw for your emergency use.

And whatever you use method to earn online you can use it to pay later in debt payments. Here you have to focus on matching the dollar price.

You may notice that when you convert in stablecoins and utility you won't make much money? Sure but it also protects you when the market goes down.

You can also store your crypto earnings into the bitcoin cash and that would also safeguard your money and you can then sell when you pay the debt monthly payments.

What do you think?

It takes time to pay for the debt and you have to keep investing into the various ways crypto offers you for the investment. These are some of the good ways to start with as well even if you don't have debt to pay.

What's your opinion? Are you invested into the crypto for changing your financial life?

I'd appreciate your comments :)