Bitcoin for Financial Goals | Mining, Staking, Invest
Investing - April 27, 2021
Bitcoin is more than just magic internet currency. The cryptocurrency is a combination of several assets. From assets for long-term wealth creation to assets for short-term income generation. In this video, we explain how Bitcoin can be used for several financial goals.
When setting a financial goal, there are few common things to keep in mind. Income, or the amount do you receive on a recurring basis. Expenses. what you spend on a recurring basis. Savings, the difference between the income and expenses.
Once the savings are determined, you look to investments. Traditionally, investments followed the growth and income combination. Growth assets are those assets that provide long-term growth. Income assets are those assets that provide periodic income. Typically, growth assets are stocks and income assets are bonds. They are invested in an 80:20 ratio.
Beyond the usual stock and bonds mix, there are alternate assets. Assets like real estate, gold, and art are the usual suspects. However, these are illiquid. But now, with the advancement of crypto, there’s a new option.
Cryptocurrencies like Bitcoin or DeFi tokens better the traditional stocks vs bonds mix and the alternate assets mix. This is because they provide both growth and income all rolled into one. Through Bitcoin mining, DeFi staking, lending, and transacting, you can earn income. Each coin can also be held for long periods to earn long-term wealth. This was not possible with other assets.
Bitcoin and DeFi coins are changing the way we look at our financial goals.
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