Your financial life will be stable, secure, and free when you have a passive income source. Passive income is also not dependent on your time and effort. It is the ability to make money without actively participating in the process. Crypto bots are the perfect tools to achieve this goal. They monitor the market 24/7 and make split-second trades to turn a profit.
The first step is to understand that you will need a system to help you achieve your goals. Systems are crucial. You’ll find them everywhere. We live in a solar SYSTEM. We have a seasonal SYSTEM. Your body has 9 systems that make it work. Systems make success PREDICTABLE. Additionally, systems help you know what you’re doing wrong, so you can adjust and have a benchmark to measure yourself from. To begin with, you must identify your goals.
Use Compounding to Achieve Long-Term Investment Goals
Would you like to earn just a few hundred dollars passively per month or would you like to replace your income with six figures?
Decide this first so you can work backward from there. For instance:
If you’re looking to earn a few hundred dollars a month, then you’ll need to find opportunities that will generate approximately $75 per week. This means you need coins that fluctuate around that amount. BTC and ETH are examples.
You will need to compound your capital first if you want to replace your income but do not have a lot of capital to begin with. This way it will be easier to generate small amounts from a larger sum in the future.
Here’s an example: Let’s start with $10,000 and compound it at 11%/month (or 2.5%/week). In two years, $10,000 will be just over $100,000.
When that happens, you only need 0.5% to 1% to live a life of freedom. Don’t underestimate the power of compound interest. Of course, you have to execute on your system and manage your risk, but when you do, all of the above is possible.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
