It is getting harder everyday but this is the life we chose
Living off crypto is an adventure on its own. In periods like this, you can really be brought down to your knees and reminded of how much you still have to go in your journey.
Yesterday evening, my wife was expressing her concerns about the crypto market. She was worried about how it will affect our already minimal lifestyle and I did what I could to allay her fears.
In my mind though, I'm also concerned about it because it will affect how much spare we have to invest and how much we sell to sustain life.
Living off crypto isn't for the weak-minded. Honestly, I would have been much happier if I could get a well-paying job that will enable us to keep all our crypto earnings online but those aren't available.
The best I can get is a lecturing job that'll pay $200 per month and while that's enough for us, it will deprive me of my time. The most I can do now is take on part-time roles but those ones aren't even worth the time and effort.
The alternative is to set up a physical business and I've thought about it for a long time. It's a plan for the future because we can't afford it now.
As the crypto market gets further into the reds, life in Nigeria doesn't make it easier to cope. We're dealing with a wicked level of inflation and economic turmoil that's led to the price of virtually everything rising.
There's also the fact that in Nigeria, prices NEVER go down. Yeah, the Naira could lose AND gain sometimes against the dollar but prices just stay the same. In fact, every time Naira loses against the dollar, prices go up and when it gains, nothing changes. It just waits for another loss to rise again.
This means that as the days go by, living in Nigeria is becoming more expensive. This situation isn't helped in any way by the current situation of the crypto market but alas, this is the life we chose.
Making it work
I consider myself blessed to be in the position that I'm in today. I get to live in a nice house with my beautiful wife, got a puppy and play video games. On top of that, I earn from doing what I love and working doesn't even seem like work.
I've been able to grow my portfolio over the years by focusing on volume, rather than dollar valuation. My thought process is simple; we're all early.
So, thanks to that, we've been getting by, predominantly with Hive upvotes. In fact, just from those upvotes, I've also been able to diversify my earnings into Splinterlands, Cubfinance and a bunch of other ventures.
In the midst of this horrible bear market, I intend to do more of the same but it will be much more difficult. I try to be patient and avoid making any rash or desperate decisions along the way.
I want more like I naturally should but I'm also pretty happy with where we are today. Yes, we've been hit pretty badly by the current market situation but this is what we signed up for.
I'll be turning 30 this year and I have less than two years of post-university work experience. In Nigeria, my chance of employment is next to none.
Perhaps when we move to another country, I'll be able to get a job with flexible hours that enables me to continue working in the crypto industry. Until then though, we'll continue taking it one day at a time, through bulls and bears, just squeezing out enough for living and growing in the process.
Contact & Support
- Discord: belemo#9593
- Twitter: https://twitter.com/belemo__
- Hive.vote page
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Life in nigeria is really tough now and the government are doing nothing about that which is sad.
I'll advise you to pick up another job aside crypto.
The problem is that I can't think of any job that will pay me enough and also give me time for my crypto activities
I just made a post about $HBD Certificate of Deposit earning high yield. If you could find the right mix of earning stable interest while continuing to build your holdings you can find a way to live off of crypto! Be sure to check out the post and comment
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Thanks. I have 2350 HBD in savings and plans to get it to 10k this year. One of my long term plans is to get up to 100K HBD in savings.
https://twitter.com/belemo__/status/1485700940791439360
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Honestly and I want to agreed with those that predicted the third wave, right now it is now becoming a reality,but of all better days are coming
Amen to that
Keep up the great work!
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I'm so poor I want to cry. I was living large just a month ago mehn. Look at me running out of data like a typical unemployed Nigerian yoot
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My data plan still has some way to go. Try doing mega plans when next you have money
I want to get a MiFi soon so these mega plans will be worth it.
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It is really not easy o, times like this would make you reconsider getting a job no matter how small the pay would be just as an extra backup...
But we stay strong and move, better days ahead.
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Amen to that
I no dey fear anything abeg 😄
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Wishing you both the best
Thanks Lizzy.
Omo! E choke. For the first time in a long while, I understand what it means not to have enough. It's been crazy this year. I just have to make some minor adjustments. Nevertheless, this bear market is affecting most of my plans. Thankfully my partner has a steady job. I am the outlaw here 🤡. Seeking a job is a no-no. I need to develop more digital skills that will make me relevant outside this space.
We will find our way. Love and light to you and @wolfofnostreet. You lot got this 💪🏿
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The matter tire me but we just have to soldier on. Both of us are on track to develop digital skill, once the bread set, we moveee
Maybe you could brand yourself as a financial adviser and do some finance thing, I bet you would do great but then again the time thing.
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Doesn't that require some sort of license?
Well in another part of the world yes, in Nigeria, the right CV and some sort of proof does a lot at least from what I've seen.
So many people freak out about their crypto dropping down while having other jobs. I can't imagine how it must be when crypto is your main income source.
Hope you can make it through crypto winter and enjoy the ups once they are there again!
Just keeping my head down and making the best out if every minute. Not much else I can do
We have similar conditions with you in Iran. Prices are rising every day and life is only getting harder. But your writing and the hope in it made me feel good. I'm very happy that you made money through Hive. This added to my motivation and hope.
Sorry about it man. I hope things get better for you as well
I think if one tries to live as frugal as possible, they can best Nigeria at her own games 🥺😔
That's the best we can do
I am glad you agree
The greatest challenge in a bear market is liquidity/cash flow. If the dollar value of your generated Crypto income is below expenses, Cryptoneurs then have to sell off from their portfolio, which in the long run is a bad move.
Two options - increase the Crypto income or find supplementary income in the short term.
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Working on increasing supplementary income as we speak
I was still thinking about this yesterday because my income majorly is from crypto and the difference is that I’m still single but still not easy for me. Nothing is good in this country even to find good people self na wahala.. the lord is your strength bro
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Quite a touching read...The odds are against you the moment you're given birth to in Nigeria, much more so if you belong to a middle class or lower. As such, the onus is on us to even or beat the odds by the profitable actions and decisions we make daily.
"My thought process is simple; we're all early." I'm encouraged by these words. Thank you
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I've been living off crypto in the U.S. for almost a year now and it's definitely not for the faint of heart. It takes strategy and diamond hands. The key is to keep earning and focus on volume, not price as you said. We will all win in the end. We just have to stay focused.
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