How Has Crypto & Blockchain Technology Impacted My Personal Finance?
First things first, much love to @theycallmedan for this LEO Finance initiative! Great way to fuel the community fire amidst the surge in membership!!
This is a topic that everyone can relate to in one form or another so if you haven't participated feel free to share your story. Check out the original post below
#cryptofinance Initiative: How Has Crypto & Blockchain Technology Impacted Your Personal Finance?
Being a member of the HIVE blockchain for the last 3 years, reading some of the entries definitely takes me back to a time (the 2017 bull run and crash to be specific). So many lessons were learned in that period...most either won or loss big, not many in between.
Now to answer the question:
How Has Crypto & Blockchain Technology Impacted My Personal Finance?
A better question in my case would be, "How hasn't it?!"
In 2016 I was working part-time and had my 1st baby on the way. After swinging and missing on a couple of small business ventures I decided to focus on using the little income I had to start creating an investment portfolio. I had recently started investing in precious metals and some stocks.
Being a student of economics and finance I had heard about Bitcoin here and there but never took the time to look into it because all of my previous studies when it came to assets focused on paper (stocks, bonds, notes, etc.) and tangible (metals, commodities, etc.) assets. Ethereum actually ended up being the catalyst to get me in the space in the spring of 2017. The whole idea of complex smart contracts is really what made me dive in headfirst.
So in May of 2017 I made my first baby Bitcoin purchase lol.
After experiencing how I was able to move my own currency around I was hooked. Plus familiarity with other assets, mostly stocks and precious metals, really helped me understand a lot of the crypto lingo in the early stages but over time I realized the crypto world was actually helping me identify all the levers and variables in the traditional finance world. Crypto gave me a better understanding of traditional finance because of its comparable parts. I was now looking at tokenomics like fiscal policy, staking like savings accounts, those who stake like shareholders, etc.
As a noob, I definitely took my share of punches in 2017 just figuring things out. You know they say experience is the best teacher, I just wish losing money wasn't apart of it. Whether it was chasing altcoins or thinking I magically became a skilled day trader overnight, I took plenty of hits when I could have just been accumulating.
Fortunately, I was disciplined enough to always hold at least half my baggage in BTC. I was going through some tough times late 2017, early 2018 and had a small amount to cash out whenever I had things to take care of financially.
Since that experience, I have been much more systematic with my approach to investing and creating rules for myself. The creation of LeoFinance really helped me in regards to that. A general, finance-focused crypto platform seemed like a no-brainer as a place to be for me.
Getting multiple perspectives from investors all around the world with different strategies has definitely enhanced my vantage point as an investor. @rollandthomas, @scaredycatguide, and @taskmaster445le's content, in particular, has really helped keep me sharp through all the madness so salute to you guys and thank you!
Over the past year, I've put my focus on introducing others to blockchain tech and it has become a revenue stream for me so not only has blockchain affected my personal finance from a learning standpoint, it also has created another stream of income for me in the real world. Being in a position to educate people about anything that can push them closer to their independence is an empowering feeling and I owe that all to crypto.
I'm looking forward to the narratives we all will get to add to this story in the near future!
Posted Using LeoFinance Beta
