Daily Writing Prompt: What are your thoughts about cryptocurrency?
Through out history, currency has changed. From spices to gold. Whatever we deem precious becomes currency. This is why I don’t typically invest in the US dollar but chose precious metals, cryptocurrency, or real estate.
I watched an episode of ‘Best Food Ever Review Show’ where the host Sonny was in Lebanon or Turkiye I think or some country, I don’t really remember.lol As he was talking to the people, they explained how one day they woke up and their money was worthless and how that affected their everyday life. This made me more serious about how and what I invest in because relying on something that holds no actual value is a dangerous game.
Investing has been something I enjoyed since my first job. I worked at The House of Blues inside the Showboat casino. I wanted to contribute a little more than the standard for my 401k and because I did not know much about it or how I should invest, I called the company and had the lady break it all down for me.
She was very patient and let me ask as many questions as possible.lol By the end, I had all the information I needed and shared that information with others. Like…sign up for after tax and not pre tax because you will be taxed twice if you go with the standard. Why? The government is sneaky lol.
Every lunch break I would sit in the cafeteria listening to Mad Money Mike and Suzie Orman as they talked about different ways to invest and grow your money. This started my love for investing.
Many people believe they do not have ‘enough’ to invest in themselves. There are so many ways to invest, different apps that let you invest small amounts consistently in whatever interest you. When you invest like this, it tends to add up quicker than you think and it is low risk. It also helps you learn what to invest in and trains your mind to look at money differently.
Living a nomadic lifestyle, I actually wasn’t concerned about a “retirement” fund and used my investments to help me whenever I decided to transition from a job or state. Instead of just hoarding money in my savings, I would break it up into different investments and accounts that accrued interest. A few years ago I learned about cryptocurrency when I was investing in precious metals. I joined Coinbase, which is great because they have learning modules to give you more information about how different cryptocurrencies work and their real world value.
I am a fan of cryptocurrency because I believe we should have more control over our finances. I also like how it is tied to something valuable although volatile, so you have to look at the future and how it will be relevant, instead of focusing on the current trend. It also requires patience. Cryptocurrency is a long game and the way of the future. Also, it is easy to switch currencies if you travel abroad.
Would I invest all of my money into crypto. NO! But it is good to have a variety of investments and I do believe it is the way forward.
Leave a Reply