For some of you, these last few weeks have been tough. You were dreaming of a world where cryptos would have replaced fiat currencies. You thought that Bitcoin had already replaced gold as a value asset. Unfortunately, the regulators decided that the game was over: starting from China, greatly helped by the contradictory tweets from Elon, the anti-crypto wind is now blowing over Europe & America. Now the question is: with all these uncertainties on regulations, can you still earn money with cryptos, and if you still can do it, how can you live on cryptos?

1) Can you still earn money with cryptos?

There are at least three strategies:

• Buy and hodl: the most famous one. "Hodl" is like a magic word in the crypto world. When it is said by an exchange boss like CZ during a crypto crash, I have some doubts about the objectivity. Furthermore, if you had bought 18 months ago, it would be fine. But if you buy now, who knows?
• Follow the swings: buy the dip and sell at the top. Well, that's a good strategy. It seems that some studies have shown that you can double or triple your gains compared to the buy and hodl strategy. That's great, if you know where the dips and tops are. I am sure you've already tried...
• Buy stablecoins and put them on custodian wallets or DeFi protocols: in both cases, you will get some yields (APY) greater than in traditional banks. However, there are some risks: custodian wallets can close any day, they do not offer the same guarantees as traditional banks; and DeFi protocols can be hacked or subject to rug pull.

2) How can you live on cryptos?

There are some conditions:

• Depending on your needs, you will have to put a huge amount of money to live on cryptos. Otherwise, everybody would stop working and invest into cryptos. Just think about it: who would make our food, our cars, and our houses? Somebody has to work... The world has always been divided between workers and capital-owners: most of us belong to the first category, but we all dream of belonging to the second one. Hopefully you are aware that having a few stock shares and cryptos is not sufficient to belong to the second one. Therefore, you would have to invest a lot and hence to take a lot of risks to go there. One option is to progressively invest while you are still working in order to become a capital-owner in a few years.
• You need to secure your crypto assets. There are some basic rules to respect: do not leave them on centralized exchanges - although it looks safe, it can easily be hacked. Furthermore, the regulators of your country may decide to close some of these centralized exchanges any day. The only way to secure your crypto assets is to put them on a cold wallet, which can be a hardware wallet or a paper wallet. However, none of these solutions is 100% safe. Therefore, a good option consists of having several wallets, protected in different ways.
• You have to invest into coins or tokens that have a future: it is the most challenging part. You will find many advices and recommandations, but in reality nobody knows which ones will win. So you have to listen to the trendsetters, without believing them: if you plan to live on cryptos, you will have to bet on the future. So ask yourself: what is the utility of this token? What are the use cases? Does it get a good support from the institutions, bank and industry? How does it differentiate from the other ones?

3) What's next?

• If you have not done it yet, leave the centralized exchanges and custodian wallets, create your own wallets and keep your keys in a safe place.
• Invest only the money you can afford to lose. If you have already put enough money into cryptos, focus on the profitability of what you have.
• Drop the "joke coins" (I prefer to remain polite) which have no other utility than speculation and invest into cryptos that have a real future...

Click on this link to get more insight into the most promising cryptos.