Disclaimer: This plan is not applied for HIVE yet because I am circulating HIVE within the community as much as possible to avoid bleeding and at the same time still supporting content creators here
It is never easy to learn about economy.
Especially when we grow up with the wrong mentality that investment is a bad idea, probably no thanks to those ponzi scams from the then Multi Level Marketing hype.
My parents were never a credit card person, which is a good thing (from over spending); but they never learn further than "keep the salary investments into the employee provision fund, and let the government deal the maths and help our money grow".
It was fine back then, banks interest rates were high, economy was booming, no one really bothered to set aside by rolling (investment) for the rainy days. Everyone was happy with their retirement saved up money with a single annual interest rate.
I was never taught to "grow" my money. Period.
Later when BTC first came out and I was enthusiastic about its (then) potential technology, gleaning satoshi and trade it off for money to pay bills or testing out shops (at the time in Europe) that accepts BTC was already a really great discovery for me.
Then I started knowing friends who didn't have a stable day job, and their income stream was all about trading. I never liked trading because I have seen people who dabbled in the stocks ended up in massive loss and committing suicide jumping off buildings because of bulls and bears; but I still learned to trade a little when BTC was low and I traded off my first ever crypto earning platform (Steemit then) at the time with a bull price and introduced internal trading among fellow Malaysians just to encourage them to earn and sell off crypto that they earn and see the potential of crypto verse as the rainy day savings, especially when the hype of The Shmita Cycle started flooding all over the YouTube, and the discovery news of the New World Order (aka now The Great Reset).
Now I am blessed with both Steem and Hive tiny bits of "blessed pennies" where I shouldn't be complaining, including Read.cash expanding my writing skills as well (whenever I have the time).
At that time, I knew I had got to do something, but with sudden mounting of medical bills and my friends (who had been side-lining investing) started helping me out tackling the bills, I got to find ways to either pay it forward or set aside to help them back should they need help in the future.
Then, came DeFi, where (trader and investor hype) friends in the #teammalaysia community kept telling me about DeFi, I took home something very important in all the sharing:
Why would you just let your crypto sit in the hardwallet directly after you earn from blogging / content creating, while you can roll it off for something first THEN place it to the hardwallet?
From there on, even though I start in quite a late stage in life, I think this could still be a workable method as long as the initial investment I planted in (including receiving tips and curation rewards fiat-invest-free) is something I am ready to lose while it rolls, and hopefully snowballs to something much better?
Even though many crypto gurus at the moment do not favour stable coins as the possibility of crumbling fiat is getting closer, I still think stablecoins offered from Defi plays the easiest way grow passive incoming; and I do hope that with dollar-cost-average way I can roll a tiny bit more before moving into to mainstream crypto for saving up (and buy low sell high when emergency arises) for the rainy days.
So far, the ones that I am currently rolling from after RealT would be either Nexo / Celsius, where both offers free withdrawals except Celsius has a better dollar-cost-average method because its minimum withdrawal is $1 USD worth.
Maybe when it reaches a bigger rolling portfolio I might use that as credit borrowing and roll further but I think this is not a good idea until I have enough to cover the interest rates payment without a hiccup.
One would definitely needs more learning - and prepping before jumping into it.
Which makes it so interesting because I am still learning something new every season, every day!
How about you?
As a benefited writer here tipped / sponsored in BCH, will you roll your revenue further first before saving up, or you are just going to use what you earn here to tip others mostly?
You'll never know, when you have enough (to lose) to send out to roll for at least 5% per annum, you could send it back here to tip other great authors!
I would love to hear whether you prefer trade / investment or you dabble in a bit of both?
Feel free to share your experience at the comments below!
Posted Using LeoFinance Beta