I've been living on #crypto since 2015. I've learned a lot, and made a lot of mistakes.😬 These are my 5 biggest ones and what I learned from them.
If you want to #GetOnZero fiat, read this thread, ESPECIALLY #5. Let my errors save you from doing them too!
1/7
If you want to #GetOnZero fiat, read this thread, ESPECIALLY #5. Let my errors save you from doing them too!
1/7
#1: FIGURE OUT ONE MAJOR EXPENSE
I just stopped earning fiat and then was scrambling to figure out how to spend my crypto. I should have figured out how I was going to pay my bills.
Before going fiat-free,practice paying at least one major expense (like rent) with crypto.
2/7
I just stopped earning fiat and then was scrambling to figure out how to spend my crypto. I should have figured out how I was going to pay my bills.
Before going fiat-free,practice paying at least one major expense (like rent) with crypto.
2/7
#2: PLAN YOUR ACCOUNTING
I just started downloading and using crypto wallets at random, causing an accounting nightmare.
Streamline the main wallets you'll use so your accounting is much simpler (especially for freelancers or multiple income sources).
3/7
I just started downloading and using crypto wallets at random, causing an accounting nightmare.
Streamline the main wallets you'll use so your accounting is much simpler (especially for freelancers or multiple income sources).
3/7
#3: HAVE A VOLATILITY STRATEGY
I just earned and used crypto at whatever price. If I had to do it over again I would have intentionally timed more expenses for bull markets so I could easily live lean during bear markets.
Plan purchases/buy gift credit/use stablecoins.
4/7
I just earned and used crypto at whatever price. If I had to do it over again I would have intentionally timed more expenses for bull markets so I could easily live lean during bear markets.
Plan purchases/buy gift credit/use stablecoins.
4/7
#4: LEARN MERCHANT TOOLS
A big part of living on crypto early on was convincing local merchants to accept it. But I started out ignorant on what tools they'd need to actually do that.
Learn a good POS app, fiat conversion service, and accounting strategy to recommend.
5/7
A big part of living on crypto early on was convincing local merchants to accept it. But I started out ignorant on what tools they'd need to actually do that.
Learn a good POS app, fiat conversion service, and accounting strategy to recommend.
5/7
#5: USE MULTIPLE COINS
The first year I only used Bitcoin, the next few I only used Dash (though I still use ~90% Dash).
Don't make the mistake of sticking with just your favorite coin. Use whatever combination of blockchains works best. Your life will be MUCH easier!
6/7
The first year I only used Bitcoin, the next few I only used Dash (though I still use ~90% Dash).
Don't make the mistake of sticking with just your favorite coin. Use whatever combination of blockchains works best. Your life will be MUCH easier!
6/7
If you enjoyed this, please consider giving me a follow, and check out my channel where I educate on crypto/NFTs/decentralized tech (and how to live on it like I do) on YouTube:
youtube.com/c/digitalcashn…
...and Odysee:
odysee.com/@DigitalCashNe…
Cheers everyone! 🍻
7/7
youtube.com/c/digitalcashn…
...and Odysee:
odysee.com/@DigitalCashNe…
Cheers everyone! 🍻
7/7
@threadreaderapp unroll
• • •
Missing some Tweet in this thread? You can try to
force a refresh
