HOW CRYPTO AND BLOCKCHAIN HAS IMPACTED MY PERSONAL FINANCE
The breakthrough technological advancement called cryptocurrency has impacted my personal finance in more ways than I could imagine. I just fully absorbed the wonders of blockchain technology a few months ago even though I have been involved with it for years. At a time the whole concept of blockchain technology seems complex in my head but it was just a deflection for me.
Having fully comprehended the importance and potential of cryptocurrency, I now invest myself into it more. This has positively had a much larger financial rewarding impart in my life and also an easier way of accumulating wealth. Before now, I see cryptocurrency as just a way of earning a living but more knowledge has opened my eye to the bigger picture. A lot could be done with blockchain technology.
On the current issue of how crypto and blockchain has impacted my personal finance, I will say in lots of ways. Gone are the days where I keep my money in the bank but lately I have been converting my cash into some crypto’s to prevent them from depreciating. With my money safely stored in crypto, I have been able to accumulate more money in crypto form from the rise in the value of some crypto.
Although, it’s not all positive as I have lost a huge considerable amount of money too from investing in some coins such as Uptrennd (1up) and Sports token (sportstalksocial coin). I remember buying 100 dollars worth of 1up coin and seeing the coin fall below 40 dollars in value. Also, I remember getting 9000 sports tokens for 50 steem and we all know the story of Sports token.
These examples above didn’t even come close to the huge loss I face regarding the 30 dollars purchase of Nuvo coin I made. The investment was a total loss as over 200,000 Nuvo coin worth nothing at the moment.
This was still the early days of me trying to find my feet in the blockchain world but I have learned a lot during that time and moved on.
Of late, I have been investing more in BNB and some Binance tokens such as Cake, LFI and Bake. The major simple reason for my involvement with these tokens is due to the fact I could passively earn for holding these tokens. by holding them, you can stake them and earn more other tokens. The introduction of Defi gave me the go-ahead to invest in this token.
Aside from passively earning through staking with my tokens, I have also been able to earn little from my engagement in some writing crypto platforms such as Scorum, Hive, Leo and Blurt. For now, though, Leo and Blurt to be having more time more. Not because I earn a tangible amount from them but because I have come across articles which as helped shaped my life while impacting my personal finance.
In a nutshell, I earn very little from writing but I learn and get tips on how to manage my financial life while also opening my eyes to more ways to earn. Also, I save my money in cryptos to fight against the depreciation of the value. I also earn passively from staking too. My personal finance has been nominally touched by crypto but that can only improve with me becoming more knowledgeable.
My entry to the contest by @theycallmedan. It's one contest that brought back memories and its shows how far is have grown
Posted Using LeoFinance Beta
