In one of my previous articles, I talked about my 'Monthly Expenses For Living' and after I've seen a handful of similar articles lately, I figured I'd try to go one step further and to see if it is possible to become a full time crypto blogger or not. This obviously depends on your living expenses, so where you live plays a major role in this, but I will talk about this from my perspective and more about my personal chances of becoming a full time crypto blogger.
Feel free to crunch some of your own numbers in the comments below.
I bet that even though most of us probably have hopes of earning something extra from our crypto adventure, I am sure that there are dozens of people out there having dreams and hopes of quitting day jobs to become full time crypto bloggers instead, at some point. Even though I personally would not quit my day job for any amounts in the world, I would love to reduce the work load and work less than I do today. You see, I love my job so I would never turn my back on that. I have found my true calling so to speak, so I wouldn't give up on that. If I ever were to become financially independent, and never had to care about money for food or rent, I would still continue with my day job. I could easily have done it for free if that were that were the case, but I would definitely work less than I do today.
However, I love to dream and think outside the box. I like to think about different scenarios, regardless if they are likely- or impossible to ever happen. It's fun. That's the reason for this article. I want to see if or when I could become a full time crypto blogger, and what it takes, if I ever were to try.
Working from home has many benefits and even though one of the consequences would be to actually commit- and dedicate ourselves, so we are sure that we spend the necessary hours we need to generate the income we wanted, it is much different compared to this date. Even though I guess that most of us are blogging from our homes at this point. We don't rely on our rewards or crypto-blogging income in the same sense as we would if we were to be full time crypto-bloggers.
Let's dive deeper into this by looking at some numbers:
Our beloved tokens Hive and LEO sits at prices of ~$0,11 and $0,20 right now. LEO trades for ~1.78 Hive, which basically means that you get 1.7+ Hive for 1 LEO if you were to sell your LEO tokens. As most of us earns tokens from multiple sources simultaneously, we also accumulate tokens faster than ever before. This is all thanks to Hive and the different communities we have. With one single extra tag when we publish our articles, we get more tokens. That's pretty cool... But is that enough?
According to Hivestats, I have made 56.47 USD during the last week and a total of 302.86 USD in the last month. While these amounts are looking great, especially for someone who does this on the side of a day job, it looks different when I look at Hivetasks.
If we calculate these results based upon the current prices I mentioned above, we get these numbers:
482 x 0.11 = 53.02
275 x 0.20 = 55
According to this, I have earned a total of 53.02 USD from my Hive rewards and 55 USD worth of LEO, which equates to a total amount of 108.02 USD.
When I looked through the reward transfers for these last 7 days, I noticed that I had earned a total of ~96 Hive Power and ~97.8 Hive if I turned the HBD into Hive. That gives me a total of 193.8 Hive and not 468.58 which is stated on the screenshot from Hivestats. That being said, it looks like the second screenshot, the one from Hivetasks is more accurate in terms of HP.
However, 193.8 Hive at $0.11 gives me a total amount of: $21.31, so using Hivestats and/or Hivetasks doesn't seem like a good idea at this point. Nothing seems to add up.
I looked even closer on these numbers and calculated my total earnings from LEO manually:
782.81 LEO from articles, including pending rewards.
This does not include rewards from comments.
As I get to keep 50% of the rewards on LEOFinance, I get 391.4 LEO and not the 275.76 LEO that is stated on Hivestats, so the amount of USD shouldn't be accurate either..
391.4 LEO x 0.2 = 78.28 USD.
That being said, I wouldn't use neither Hivestats or Hivetask at this point, if you are looking for accurate details regarding your rewards, but I might have missed something..
My 100% vote on LEOFinance is currently worth 0.310 and we all know that you can basically vote 10 times per day to fully recharge to the next day. As we keep 50% of both curation and author rewards, I can earn a maximum of: 1.55 LEO per day from curation. As Hive and other communities have a different reward curve, we earn less and I don't feel the need to go into those details.
So, 1.55 LEO per day from curation. That equates to a total amount of: ~50 LEO per month, as my stake will grow, the votes will be worth slightly more as well. Without making any calculations, I think I'd get about 53 or 54 LEO the second month, 56-59 LEO the third month, if I only staked my curation rewards.
I don't use Publish0x and have never used it, but it seems like popular posts earns anything between $2 all the way up to $8, so I guess cross-posting could be a decent option to earn some extra money. Especially as you can simply just copy & paste all your contributions from Hive. With links to LEOFinance, Hive or any of the other communities, it might also increase traffic.
Even though I am not sure about it, we'll go with an average of $1.50 per day from Publish0x which equates to $45 per month, as long as you are active each day.
That being said, ~50 LEO per month from curation and $45 from Publish0x gives us a total of: $55 per month, at the current price of $0.2 for LEO. Add the LEO rewards from articles (78.28 USD) and we end up with a total amount of: 133.28 USD per month.
On top of that, we have $21.31 from Hive, which equates to a total amount of:
$21.31 + $78.28 + $55 = 154.59 USD.
If we look at my previous post that I mentioned earlier, I have monthly expenses of 1420 USD per month, which is the very minimum I would need. I haven't included money for clothes or any other extra costs, besides the basic stuff. 154.59 USD is a little more than 10% of the money I need, so it's safe to say that I would not be able to make this into a full time thing at these current prices of $0.11 for Hive and $0.2 for LEO.
Imagine these tokens at $1 instead..
That is about 9x Hive and 5x LEO..
With the same results I've had, my earnings would be:
That would be 604.5 USD per month, which equates to about 40% of my monthly expenses.
If we saw these tokens sitting at $2 instead, things would be very different:
That gives me a total of: 1166.3 USD per month.
Add the extra $45 per month from Publish0x on both of these calculations and we end up with: 649.5 USD and 1211.3 USD respectively.. With all that being said, and all these numbers, we can see that the price of $2 would make things really interesting and it would basically become doable for me to become a full time crypto-blogger, as long as I can generate the same results on a monthly basis.
I don't even have to tell you what would happen with prices of $5 or $10...
With time, things could be very interesting and also life-changing for literally everyone, regardless of where you live.. But, you should also know that your results will change with time as well, as the distribution is affected for each token that goes into the hands of a user..
With that being said, there's no better time than right now to accumulate tokens and to start putting in effort and time to give yourself a superb chance to change your life in the future.
