Between job stability and investment risk
Hello everyone, I hope your week is progressing very well. I recently commented that I have entered the world of Blockchain based video games with my participation in Axie Infinity, and it is not going bad, not at all, I think that if you make an investment and in two or three months you can aim to recover your capital is something that is very good, achieving that in a traditional business is difficult, it is likely that if (for example) is a bakery the business in which you invest, you are going to need some years to have your capital back, it is what usually happens.
So yes, thinking in business is fine, cryptocurrencies currently offer a good way to be able to generate income, in some cases without investing a penny you can start earning, as for example in this platform, in which by writing, you have the possibility to earn. At this point there is a minimum investment, I must say, you must have internet, plus you must have a computer or a good phone to write, plus your time invested, which for me is valuable, but the above are things that in general people have.
So yes, they can generate income with little or no investment, now, there is something that does catch my attention, and that is that I have heard some stories of people in the Philippines, who left jobs to dedicate themselves only to the game axie infinity, wow, I can not say that it is not profitable, but leave a certain security to dedicate themselves to a game, I do not think it is the best, Why?, They are cryptos, although it is true that the daily rate of return is currently very good, everything can change from one moment to another.
If we analyze the graph we can see that three days ago the SLP coin cost 0.32$. And now, at the time of writing this post it is worth 0.284. That is to say, the volatility of cryptocurrencies is always necessary to be considered. We can not take such radical decisions impulsively.
I would say yes, but the same applies as for other businesses, looking at it as such, we should not put all our eggs in one basket, because it may happen that we end up with an income that is insufficient to live with dignity.
That is why I mentioned the case of some citizens of that Asian country, it is not the first time that something like that happens, but it will always be somewhat risky to do so.
I believe that the logical thing to do is to establish a medium term plan, that allows to consolidate diverse incomes, and that can be maintained in the time, to guarantee the monthly expenses of house is necessary, and also to generate additional to be able to continue investing.
Many wish to have that longed "financial independence ", but to achieve it is not always easy, to try it does not mean that it will be reached quickly, the logical thing is to be organized in everything that we intend to do, so that later we do not regret of badly assumed decisions.
I must say that this is not a financial advice, they are just a set of ideas that came to me from some recent news.
Back to the game, Axie Infinity, so far so good, in theory based on the current price I should be able to recover my investment in maximum two months, but I am very clear that if the SLP coin drops in price that recovery period could be extended, so you have to tread carefully and not risk that you can't afford to lose.
I bid you farewell, wishing you a great week.
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Hello friend @josevas217. As far as I have been able to appreciate this game has given topic to talk about, but it is also seen that you have to invest taking the risk to win or lose, although with the benefits it leaves it is worth taking the risk to invest, the best job stability that we must have is to have savings and be able to invest them and thus yield them, Greetings friend and thanks for your valuable article.
Currently there are many games based on cryptocurrencies, some have too gigantic profitability, I see that people invest and obtain profits, but others due to their ambition stop earning a certain percentage, so you have to be very attentive with all this. The good thing is that cryptocurrencies will be better known and more accepted.
Yes, risking all the capital you have, or borrowing for risky investments is crazy, but there are those who do it. You must always have a plan, it is necessary, otherwise, we can enter a point of very large losses.
Thank you for commenting
Hello friend, I know that this game has given a lot to talk about, although the investment to be made is quite large, but with those profits I think it is worth it. With respect to the other thing, if we have savings and we are sure of something, why not take the risk? You did it and so far you have done well, so I think that doing something that we really like is the best option.
Yes, it is a big investment, that's why scholarships are more and more in demand, because not everyone has the money to invest. But, it is worth it.
Friend, I am very happy that you are working for your financial independence, in the end we all seek that, and if it is as you say that in 3 months you can recover the investment it is definitely worth it.
I hope to get a scholarship for you hahahaha
The scholarships, that's a great detail, it takes money to be a scholarship holder, I hope soon to be able to. do it. And yes, looking for that economic independence, that's what I'm totally looking for.
That's a good point my friend, I had already heard how the Axie Infinity game has become the main source of income for many families in this Asian country, and certainly as this platform has become a source of income for many people in countries going through a strong crisis, putting all your eggs in one basket is risky because of the volatility of cryptocurrencies, the best is to diversify or have a fixed source of income such as a salary and combine it with investment in cryptocurrencies.
Salaries can be a double-edged sword, I have had them, and my greatest economic growth has been when I no longer have a salary, which I think is for the best.
All your eggs in one basket, no that's crazy. Totally agree, we need to diversify.
Hi @josevas217.
Excellent your approach to financial independence that is the path we should all follow, and personally, I think you are an example to follow for all of us as you are always looking to motivate us to continue growing in every way including economically, and that friend says a lot about the quality of person you are, thank you for that and God bless you and your family, I wish you much success and your investment approaches.
Thanks for the kind words my friend @rbalzan79
I like to help, that I will always do, I know there are options, I like that everyone can be better off than they are, and I know it can be done.
Greetings. Blessings.
Hello friend, if it is the case here in Venezuela, it is advisable not only that person invest in a good internet, computer, if not also in a good power plant, because when you are working either on this platform, or for example in the game Axie Infinity power supply falls you do not have to stop production because it has a power plant.
You have to take into account that here to work online is like a preparation to go to a war camp, ie you have to be well equipped.
Greetings and thank you for your perception of the investment.
That is the reason why I do not believe that having only one source of income is not advisable, much less in this situation of service crisis.
I agree with you a real business will cost both time and money were as a virtual game will cost that much money and time we just need to invest and get the return but the risk is always their in virtual game for its success if it fails your money will be lost. As compared to real business the risk is only whether your business will run or not all the assets will give money on resale.
Yes, it is a very interesting money game. I also agree in the creation of assets, we can not leave everything online, because we run many risks, a physical business can always help us to solve.
Greetings friend @josevas217, excellent topic that you share, because leaving a fixed income aside for a game is quite risky, although that salary is little will always be useful, which is why we must diversify our income and not focus on one to achieve the long-desired financial stability that many desamaos.
The detail that I see in everything is that people can abandon something relatively safe without having a plan, kind of like thinking that it will be whatever God wants, and I think that part of things should depend on ourselves, to plan logically.
I committed the folly of taking the risk of living off Hive, Steemit and Noise. I ventured into this knowing it's a risk, but here I am. It's not easy, you worry when you see those numbers in the red, but the satisfactions that the process gives, not only financial, but personal, make it worth it.
That's what they call it, madness, but without a little madness you continue to do what everyone else does, and it's not the best thing. Because it leads to the same place everyone is.