Even if I'm on the path to become a nomad digital, some of my old friends are still considering I'm a dreamer. But that's not the main point.
In 2019 I started some online side hustles to make pocket money, but the goal of becoming a digital nomad came in late 2020, when I was still a student.
At this time, I was building my portefolio websites (I'm still) to generate incomes, from everywhere. And yeah, I want to be the cliché of the "travel blogger".
Now, my plans had changed a little bit, and let me tell you why. As we're still early, it's the best time to build real passive income sources from blockchain to make a living and travel all around the world.
Main goals :
- Decorrelate personal time and incomes
- Having predictable incomes
- Be able to do this everywhere
Needed to achieve them :
- Reliable income sources (no fluctuation)
- A way to use crypto everywhere
- Some ways to grow income sources
- Risk management
- Budget tracking
I'm considering mooving to Chiang Mai, a nice place in Thaïland for digital nomad. The living cost is very low, and it's sunny !
Without going in too much details on that, I'll consider a $1000/month budget is enough for me :
- Rent : $400
- Food : $250
- Transport : $70
- Internet : $30
- Extra : $250
Just learn what does it take to live in Chiang Mai, and set up your own budget.
The income sources
Passive income for everyday expenses should be very safe in my opinion, even if I'm also in love with degen projects like BNB miner.
That being said, I'd consider :
- Having passive income from stablecoins
- Split the amount staked on several platforms to lower the systemic risk
Meaning that I'd have to stake $100k worth of stablecoins, and that's a lot.
So let's find some ideas to generate more incomes to lower that amount.
A lower amount to get my $1000 each month means I will have to increase the risk.
Of course I can, but I'll try to do it the safest way :
Considering the budget above, I would try to put the higher risk on the less important budget part. I can, for instance try to generate both extra and transport budget with a higher risk :
On the Binance liquidity swap, you can earn at this time 31% on the AVA/USDT pool. In the case you're not familiar with AVA token, I'll explain you why it's a good choice as a digital nomad.
Thus, with 7k5 worth of AVA and $7k5 worth of USDT, I can cover both transportation and extra cost.
Meaning now, I only need $82k worth of stablecoins to cover other costs.
Keeping some exposure to the market
I also want to keep some exposure to the market, and be able to accumulate, specially during bear markets.
And yes, you got it, I have to generate more income sources ; to invest, and to have an "in case of" plan.
The backup plan that can be turned into a successful business
The main issue with this strategy is the income stability, that's why I prefer to have an edge, like a side hustle, something I'd like to do.
There are tons of business ideas to generate more predictable incomes :
- Starting a crypto digital nomad blog
- Starting a crypto digital nomad Youtube channel
- Sell online courses on how to become a crypto digital nomad
- Scaling my "Biswap method"
- Bonus : Buying real estate with crypto and becoming an host for crypto digital nomad
What's next ?
In the second part, we'll see how to pay for everything with crypto, and how to book flights, hotels...etc, so stay tuned !