Coping With The Dip & Cutting Some Expenses

Humans naturally will always look for alternatives to adapt to situations it’s an inborn trait. We can see that playing in reality, now I understand every time I asked my dad for something and he replies, “I will give you when the economy improves”. But this time I find myself making plans towards when the market recovers. Being a person that majorly survives off crypto, the market changes are always affecting me.

source

I’m a Hodler quite alright, some people might wonder, why complain if all you do is hold your coin. Well, am a hodler who doesn’t let his coins stay idle in a spot wallet. There are numerous opportunities of earning while you hodl, staking on DEFIs, Lending and using Binance earn. So this means that when the market is in a bull run, the value of my earnings are higher but when they are in a dip, the value of my earnings are lower. Currently, the value of my earnings are half the value they were a month ago, what can I do?

You have no choice but to cope with the dip and try to work harder to sustain yourself. Some people have the opportunity of freelancing and using freelance platforms like Fiverr, lucky them, at least they have skills that can be used to provide sustainable income that will help sustain them. I once signed up on fiverr to see if I could utilize the system and make some money, but unfortunately, I couldn’t find one skill to fit into because my confidence is so low that I felt I wasn’t qualified enough.

The dip has come with a lot of reasoning, I have found myself trying to look for other sources of income in sustaining myself and also in buying the dip. This was when I realized that crypto has taken a major part of my life, my life revolves around crypto, from my tokens, to my NFTs, to Hive blog. While this sounds like a good thing, I can’t help but think of the moment, am stacking all these for the future, but right now man gotta eat today, and withdrawing any of my long term crypto is not an option.

What does this mean to my expenses, this means that available funds will have to be spent on things based on scale of preference,meaning that money won’t be spent on unnecessary expenses anymore, until there is another source of income or when the market recovers. 😂 this just reminds me of how I used the money I was saving up for my laptop to buy the first wave of dip until the dip got dipper. Now I have half the amount I invested initially in the dip. That was a risk I took to see if it was worth making few profit to complete the laptop’s price. Now I find myself in a dip with my laptop’s money and no laptop. Sacrifices and choices we make in life, while we are waiting for the market to recover and moon, life still has to go on.

The world is changing, people are changing the ways they earn and stack money, the internet and crypto is gradually dominating, while this seems like an eye opener, it’s wise we take full advantage of the situation. The internet is so great that people are creating generational wealth and new set of new money from the internet. It’s archaic to think that office work is the only way to earn seriously, I wish older people in Nigeria knew better. But telling someone who doesn’t believe in crypto the market is in a dip and I just need another source of income to sustain me while I wait for the recovery, can easily enable them try to prove to you that this is sign that crypto is about to crash and be gone.

Posted Using LeoFinance ^Beta