So guys, I'm certain most of you have heard that saying "to make money takes money". Although this is NOT the case 100% of the time it is a very true. And this is not something new, this is something that exists for thousands of years now.
There are multiple ways to earn money, when you have money.
- Invest in a business
- Invest in real estate
- lend the money for interest
- invest to receive royalties
The concept of "Interest" which is the key for passive income from wealth is a very old conception. It dates over 5000 years ago. There is full article in Wikipedia which is worth checking.
Anyway, let me tell you what I remember from when I was younger - the banks were offering high interests on deposits - about 8% for just keeping your money in a bank account. In a perfect world that would of being sufficient for most people to retire with dignity after 20-30 years of working and saving. Let me give you an example what I mean. You test different use cases here: https://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx
The calculation I made is going on like this. You enter deposit of $500 when you are 25 and for 30 years, you deposit small percentage of your salary - $250 per month. At the age of 55, you will be having the amount of nearly $360 000 which in most countries will let you live a good life. The interest of those $360 000 of 8%/year is about 28 000, which is on top of what the country you live in will provide you as pension.
Unfortunately, all that is in a perfect world. Those bank interests declined over the years. Currently if you manage to get 1.5% per year you should consider yourself lucky. Most of the time, the money bank charges you to keep the account open are more than what you earn for keeping the money in the bank.
Currently we are living in a very interesting time - I wouldn't say in the "Dawn" of crypto, but I would define it more as the "Puberty of the Crypto Era". We just started the Teen years of the Crypto - and it is just now starting to get exciting. The volatility is crazy, nobody can predict with certainty what will happen. One day prices go up 50% and the next day they take two steps back. Just like the angry teenager who changes their mood every 15 minutes and every few days they change what they want. But I look on this as a golden time, we have the power to believe in the Crypto and make something of it or stay unaware and lose that opportunity that the previous generations had in the Golden years of the Bank Industry.
That Bank Industry that is now so much afraid to be overtaken by Bitcoin and the rest. And the reason for this is the fact that new and new Companies emerge to offer similar services to what banks do. And they are growing fast and in Billions. Let me just mention few of those so you guys get my point.
Crypto loans with 5.9% yearly interest. I just want to mention that most people here in Bulgaria that are not getting huge salaries are NOT able to receive such credit from a Bank. Nexo also offers up to 8% yearly interest on stable coins like USDT, DAI and others. They are even planning to start their own Nexo Card partnering with MasterCard.
Crypto loans. Interest on Crypto assets - up to 8%(including BAT) on coins and tokens and 12% on stable coins. Bank cards. Investment options.
Crypto loans. Interest on crypto assets. Multiple options.
Investment plans for multiple coins and tokens with yearly yield between 1 and 350%.
My impression is that all of those are legit services that are trustworthy and may offer good solution of keeping coins that otherwise would sit in your wallet doing nothing.
And guys, there are plenty other companies offering similar services in order so we can reap the benefits of the current situation. We can't know what the future will hold for us and for the crypto. Hell, tomorrow 90% of of those nearly 6000 coins and tokens on Coinmarketcap might vanish, but so can we vanish if the next Meteor crashes on the Earth as in those movies like Deep Impact and Armagedon.
The point here is guys, if you believe in crypto now is the right time to take action. "Tomorrow" might be too late. The mass crypto adoption will come, the question for me personally is not "IF" anymore. It is "when". And when that happens Crypto will mature to "adulthood" and we will live in a different world.
