Achieving Financial Freedom in Cryptocurrency

cioreviewindia Team | Tuesday, 22 June 2021, 09:17 IST

Achieving Financial Freedom in CryptocurrencyFinancial freedom is when one takes full ownership of their own finances and has a dependable cash flow which allows them to live the kind of life they want. This financial freedom is a goal for many people and it can be achieved through financial discipline, value-oriented approach and goal Based investment. In the past few years, achieving this freedom seemed unattainable but it has become more realistic, thanks to cryptocurrency.

Many people have embraced Bitcoin trading and start trading immediately after learning with a specific aim of making more profit within a short period of time.  With consistency, focus and determination, there is a group of people who have been able to successfully trade and earn and an amount that permit them to live off completely from their crypto profits. These people mostly predict a 2-5% gain which is more realistic than a 30% gain following the charting patterns and they are also able to do this by exploring the sentiments in the market.

To earn more profits, traders aim at having higher entries which is only achieved when one’s portfolio grows. Also, holding the cryptocurrencies such as Bitcoin from the moment they are bought until they have an increased value best for selling attracts more profit.  It is also advisable that the traders should hold off their funds when a bull market is approaching then trade them when a bear market is approaching in order to increase their positions.  In cases of unstable markets, the investors should change into stable coins and hold onto them until the situation is cleared.

Besides financial freedom, crypto traders are also assured that their money is safe.  For most investors, placing their funds into coins that are able to maintain the value of a US dollar at the peak of a bull market helps them protect their funds from a possible market collapse and also give them a chance to make a better investment decision if the markets drift sideways.

Once the funds have accumulated to a great figure, they can be moved into stable coins, from where they can be spent according to one’s desire. Saving the stable coins in a saving account for about 7 – 30 days earns a high amount of interest known as a reward.  The reward can be utilized in two different ways; it can be reinvested by the trader to his cryptocurrency of interest or it can be spent through a cryptocurrency debit card.  Doing this over and over again leads into full financial freedom which is the main aim of most traders when they begin their investment in crypto trade.

With the invention of BitQT trading app Bitcoin traders in order to gain more profits, as a step to achieve financial freedom in cryptocurrency.  According to the financial conduct Authority’s Cryptoasset Consumer Research Report 2020, close to 80 % percent of the items surveyed were Cryptoasset bought via an online exchange. This illustrated how easy it is to buy cryptos and using them as an exchange commodity.

Availability of Bitcoin in the crypto market has also taken a great part in achievement of financial freedom as noted by RACONTEUR as it is a decentralized option of the traditional finance hence, they are less prone to failure. Their high resilience, efficiency and democracy are the major component that has made Bitcoin to be the most preferred by many investors in the journey heading to financial freedom.

The fact that this market is virtual and there no interference by any moderator and there is a strong assurance of security, it has been a strong tool that empowers investors to have the power of their wealth in their own hands. Cryptocurrencies have therefore given an alternative perspective of how to build trust in the financial industry.

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