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How To Live 100% On Crypto

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聽聽2243
2 months ago

There are so many services, products, and applications that enable you to spend, earn, trade, and store cryptocurrency. There are so many in fact, that you are able to live 100% on cryptocurrency. Let鈥檚 discuss exactly how you can start today.

While I am writing an entire book (very slowly) on this topic, I had someone recently asking me to go through how to actually do this and while I鈥檝e covered many different aspects in separate videos, I鈥檇 like to do one comprehensive video giving a high level overview on the many ways to earn, save, store, and spend crypto so you can live 100% on crypto.

Living on crypto to me really means living decentralized. While you can live on crypto in a centralized way, it defeats most of the purpose to do so. So, I will be looking at this from the lens of decentralization.

Why does this matter though? Whether you are a libertarian and value freedom, or you value your financial privacy, or perhaps you want to maliciously evade taxation, this is how this is achieved.

Earning Crypto

路聽聽聽聽聽聽聽聽 From sharing content on and using crypto monetized and blockchain social media platforms

路聽聽聽聽聽聽聽聽 From staking, liquidity providing, and other DeFi activities

路聽聽聽聽聽聽聽聽 Get paid in crypto from an employer or do side jobs

路聽聽聽聽聽聽聽聽 Get paid in crypto using BitWage

Storing Crypto

路聽聽聽聽聽聽聽聽 Never on exchanges

路聽聽聽聽聽聽聽聽 Store on a self-custodial wallet that only you control 鈥 You get the private keys and seed phrase

o聽聽 Ideally a hardware wallet that is offline when not in use

路聽聽聽聽聽聽聽聽 Practice good security measures - Use multi-factor authentication

Trading Crypto

路聽聽聽聽聽聽聽聽 Only use decentralized exchanges and swap exchanges where possible

Withdrawing Crypto

路聽聽聽聽聽聽聽聽 Withdraw your crypto in cash from an ATM

路聽聽聽聽聽聽聽聽 You can use centralized exchanges to withdraw via etransfer and other methods, but be advised that it鈥檚 highly likely this is all tracked and you will have to pay taxes on it

路聽聽聽聽聽聽聽聽 You can 鈥渨ithdraw鈥 your crypto by spending it directly

Spending Crypto

路聽聽聽聽聽聽聽聽 Dash now has many online stores and physical locations that accept DASH natively as payment in the US and is continuing to grow

路聽聽聽聽聽聽聽聽 You can use sites like CoinCards or Bitrefill to get physical or digital gift cards to pay for anything. These sites don鈥檛 require any information from you

路聽聽聽聽聽聽聽聽 In Canada, you can use BitcoinWell to directly and anonymously pay for utility bills. In the US, you can use Walmart gift cards at their kiosks to achieve the same result.

路聽聽聽聽聽聽聽聽 You can use crypto visa/debit cards, though typically they require a lot of documentation and KYC from you making it not very decentralized in comparison to other spending methods. I have tested a couple and predominantly use Bitvo, however I鈥檝e since switched to just using gift cards for total anonymity.

Is there a crypto that is best suited for these use cases? I would say DASH is the best based on fees and transaction speed. Decent alternatives would be BCH or LTC. Don鈥檛 be fooled by marketing to believe that DOGE is good for transactions given its current fee being $0.60. You can find all the major coins fees tracked and compared here: https://bitinfocharts.com/comparison/transactionfees-doge-bch-dash.html#1y

How do you earn, store, withdraw, trade, and spend your crypto? Am I missing anything? Do you value decentralization? Let me know what you think about this in the comments below and don鈥檛 forget to subscribe!

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

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Comments

Living 100% off crypto, nice one, i still think there is a little while it will be accepted as what cash is now.. can't wait for that day.

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1 month ago

I have very little experience with crypto investing. That's why I prefer to hold crypto, although I'm a newcomer to the crypto world, but I'm looking to the future.

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1 month ago

Lots of information here about this digital currency. Yeah,it's tough to understand for Beginner's but the sequence can help people. Thanks for this nice video.

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1 month ago

Crypto trading very important now a Day and guiders are also because they are doing very hard work for us to understand how we are trade on cryptocurrency market and This Is very valuable . In coming Days only cryptocurrency in All Over The World .. thanku Sir for this PrEaCiOus Information

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1 month ago

Thank you very much friend, could you make a post about how to gain more followers on the web?

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1 month ago

Very refreshing to read this piece, have been looking for ways to spend my assets on my trusted multi-coin wallet from https://atomicwallet.io/ which support several coins on a single platform.

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User's avatar Frd
1 month ago

I never store my money in a cold wallets. I always got it through different social media networks then send it to my binance wallet, leaving a bit for donating or using QR code, where i also have my money for trading.

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1 month ago

thank u for sharing ur ideas.im a newbie here

$ 0.00
1 month ago

It is very good Kumar's friendship has told you very well that the car is not good for you.

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2 months ago

I also think that's possible. Crypto may help us get away from the system we are living in. We may have a better life with crypto. We don't need a boss to tell us what to do, we don't need to prove something to others to work. We could be totally independent !

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2 months ago

Who knows if I will ever be in the camp of people "living entirely on crypto." I guess it could happen. Although, I have always been slow to adopt new things. It took me forever (back in the day) to switch from writing checks to using a debit card. It took me years to switch from using a flip phone to a smart phone. And even the smart phone I have now is not the newest, latest thing.

But it does seem like an interesting direction, and the more I learn about crypto the more I am interested in it. All aspects of it. Using it, earning it, growing from it and so on and so forth.

So, for me it is a wait and see thing. Eventually I will adopt it more and more, but who knows to what extent?

$ 0.00
2 months ago

What method (service) do you utilize to cash out some funds from the read.cash wallet?

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2 months ago

I send BCH to my cold wallet

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User's avatar scottcbusiness
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2 months ago

Nice one, if I could live just 70% in Crypto I would think it is enough already. How do you manage to be rewarded byt the Read.cash bot despite posting on multiple website? I can't seem to do it.

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2 months ago

I'm not sure honestly. It doesn't let me post similar articles like my reports

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User's avatar scottcbusiness
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2 months ago

About living hundred percent on crypto, I totally agree with you because there are great blogging and content sharing websites where one could earn well such as noise.cash, we also have other sites where one could also earn passive income when put in the maximum efforts in content creation such as read.cash, hive, steemit. Honestly speaking crypto and Bitcoin cash have made the world a better place for many people especially we the content creators and bloggers.

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2 months ago

I have never invested my money on crypto, all I do is just to write contents, earn crypto, hold crypto when it necessary then sell it off when its moons.

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2 months ago

That amazing information thanks

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2 months ago