It's no secret that cryptocurrencies are becoming more popular. This means that people are accepting the idea of having an independent online with digital currency. It's not just a few people that are involved, as there are millions of cryptocurrency users now in the world and probably soon it going to billions of users. In this article, I'm going to highlight some points about whether our involvement in cryptocurrency can be seen as being self-employed.
We all know what cryptocurrency is all about but if there is someone here that don't know or heard anything about it yet, let me just take that as the first step in my explanation.
What is cryptocurrency?
Cryptocurrency is the most recent form of money. It is a digital currency that is traded online. It is not backed by any country or government but instead is designed to be decentralized and not controlled by any other entity. A cryptocurrency is made up of software code, which is used to secure and verify each transaction. You can trade it online without bank or government interference nor controlled by a single person or company. Instead, it is a collective effort of many people and companies. Cryptocurrency is not a form of currency, but rather a form of digital cash. It has become the most popular type of digital cash for most of us to trade and wish to be independent with Crypto.
Relating cryptocurrency with self-employment whereby you own your business nobody has control over you.
Self-employment?
Self-employment is when you're personal ownership of a business or a profession. It has many different types of self-employment, being an entrepreneur, independent contractor, and consultant are different kinds of self-employment.
To be self-employed, you need to be your boss and run your own business which has many benefits attached to it, including having more control over your schedule, being able to pick your clients, and making your hours. However, self-employment is not for everyone. Many challenges come with it, such as earning a living wage and meeting the many expenses associated with running a business.
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Can our involvement in cryptocurrency be seen as being self-employed?
Cryptocurrencies are a relatively new phenomenon because it's still in an earlier stage not billions of users yet, and many people are not sure how to classify themselves concerning cryptocurrencies. But the question is are you a business owner involved in Crypto?
A self-employed bear the risk alone and when it has the highest profit it shares it with no one which means it is in control of there business
However, our involvement in cryptocurrency can be seen as being self-employed because it is a digital asset that is used in a self-employed environment. You have control over your digital asset, being able to pick your coin to trade and make your hours to invest in it. In other words, cryptocurrency can be part of a self-employed profession. Bearing the risk alone when the market is not stable is also involved.
But still, I have seen a lot of people that have become rich involved in Crypto without any other jobs, and many millionaires are still on the way coming.
I conclude our involvement with cryptocurrency is self-employed. Being self-employed in the business aspect, entrepreneurs have the same principle as cryptocurrency.