Bridging the Crypto <> Fiat divide
This is just one example how digital money can buy real things that can improve your life without going through centralized exchanges as well as the traditional banking system. As such it presents an alternative route through which wealth can be utilized. And these routes are important for the future that is coming as we are right in the middle of a giant battlefield in which the legacy forces and institutions stand opposed to the ideas of freedom and individual autonomy. It is clear that the stakes are much higher than what we first thought when we got interested in crypto technology. It is much more than "quick money", it is a fundamental change to how wealth is distributed and how our economic system can function.
With the right mindset crypto technology can be liberating
Of course crypto doesn't always mean "free" money or opportunities in which we can grow our wealth exponentially. In fact I would argue that to most it may actually be the opposite: a frustrating experience with losses. If you are up in your portfolio in the middle of a bear market (in which we currently are) by still a 2x or 3x you have obviously done something right. But how many will complain to be at a loss? The difference between these situations is a shift in perspective.
It can take a while (there is no better and quicker way to learn from losing money) until you realize that it is all about a long term vision. If you are involved in a project with strong fundamentals, a good and growing community, and continuous development (such as Hive :) there is virtually no way of losing money in the long term. If you hodl and keep building especially in a bear market you will naturally come out much stronger at the end of it. But research has to be done; otherwise you might end losing everything (e.g., the LUNA fiasco).
Building Passive Income with Cryptos
A great deal when it comes to thriving in this world is having access to wealth. Wealth can be generated in the fiat as well as the crypto worlds, although I would argue that it is much easier in the latter (with the right mindset). Cryptos presents a great opportunity to give you a basic income which will help you in your daily life. For example, if you are involved with Hive you are earning about 3% from staking your Hive and another 9% from curation. That is about 12% per year. With the addition of the interest rates on HBD you have an additional 20% APR.
As such, being involved with Hive gives you a 32% APR (with the APY being about 35%). Over 5 years and an investment capital of $1000 this would give you almost $4500 or a 450% increase in wealth.
Passive Income works at all levels of capital. But the real gains are of course much higher with greater capital. For example,
if you have 1000 Hive and 100 HBD you have about 122 Hive and 22 HBD at the end of the year. This would give you (depending on the Hive price of course, but lets assume it will continue to hover around $1) about $144 a year or $12 a month of passive income
if you have 10 000 Hive and 1000 HBD this would be about $1340 per year or $112 a month
if you have 100 000 Hive and 10 000 HBD this would be about $15 200 a year or $1270 a month
This is all of course dependent on the country where you live. $100 a month can go a long way in some countries while in other $1000 a month might be about half of your salary.
I hope these examples show that building passive income should be the top priority for everyone. Because with them we can thrive instead of only surviving .
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