Don't Confuse Investing In Crypto With Generating Daily Crypto Income

Mindsets & Approaches To Crypto Wealth Creation

It is very important not to confuse the tools that are available within the Crypto space and to use them appropriately. I think for the most part, many have an investor mentality in that they want to accumulate BTC or a specific altcoin and hodl on. There is nothing wrong with this approach and I practice it myself but unless the goal is understood, misinterpretation can lead to a completely incorrect assessment of many a portfolio design. What I am really trying to bring home is the fact that the Crypto economy is so rich with opportunity that if you have not moved into multiple ways and mindsets of generating income, then you are missing out on the true essence of Crypto.

Satoshi built the foundation for a new way of operating within the finance world and what has transpired since Bitcoin's inception is a truly revolutionary economy that is able to sustain itself, mostly without traditional trade and methods of business. Staking, DeFi and yield farming have so clearly shown the world that Crypto is more than a way to store and transfer value.

In fact Crypto is able to create daily revenue and create independence from the traditional world of business. Unless you are incredibly wealthy, expecting to earn a full-time income from your BlockFi account is rather unrealistic but that same amount would go a lot further to reaching that goal if it were put to work in some type of DeFi orientated protocol.

This Is What A Crypto Entrepreneur Does

Safe and sure thing boats are not going to make you considerable income and an entrepreneur understands that. There are very few people reading this article that are actually generating a full-time living in the Crypto space and what needs to be realized is that the rules are different. Earning a living in Crypto demands high risk and remaining with traditional and conventional wisdom simply does not work. Many people will look at a project and consider it something to be avoided because it does not have the reputation and track record of a more well known and respected platform.

The entrepreneur crunches the numbers, works out strategies and then proceeds to utilize such an opportunity, understanding the risks involved. This is the very reason why I never advocate any project! I have done the time, strategized my game plan and familiarized myself with the dynamics involved. I may succeed where others fail but only because of the research I have done prior to acting upon my strategy.

Somebody just wanting to increase their Crypto holdings over time would not consider such a path and rightfully so. Understanding the objective also serves as a compass in the Crypto world and will point you in the right direction of which platforms and protocols to make use of.

One-Tracked Mind

This dynamic can be explained in another way. Say that you are earning approximately $700 a month in Crypto and that you tell this to a friend who is not involved in Crypto at all. You and I both know that the majority of this amount is earned in a predominately passive way. Your friend may consider this to be a small amount due to one very important factor.

The only income he may know is that of a wage and so in his mind this amount is automatically compared to that amount and as a result, comes up short. He will reason that he earns 10X this amount and will most likely laugh to himself as he can only comprehend a wage. The reality is that this is a bonus on top of your wage and barely requires much time at all. However, his limited viewpoint of how one can actually gain income robs him from the many ways in which his income could be supplemented on an ongoing basis.

Define your goals and allocate accordingly. Everyone is on a unique journey, although some may be very similar.

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