How Can You Afford Not To Be Involved In Crypto?

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The average person is living on credit and hasn't managed to catch up the debt since last years lock downs. Stats say that 75% of salary checks are being spent on paying debt which is worrisome for what lies ahead.

With economic sanctions hitting Russia the affects will ripple across the globe leaving no prisoners. Everyone will be affected in one way or another so don't kid yourself as this could get ugly.

2 days ago the price of fuel in South Africa jumped by 7% and we are expected to have another one in 3 weeks time by another 9%. Leaked info normally comes true as it is just a warning to let you know it is happening.

We all know a petrol price increase of his magnitude means everything goes up besides your monthly income. 99% of all items found in the shops are delivered by road which shows how bad the infrastructure really is as the rail option has never been used properly.

The daily bread will rise as 13% of the wheat cost is entirely due to road transport costs. I can see a loaf of bread rising by 25% over the next month which is a staple diet for the poor.

I don't know where that leaves my industry manufacturing plastic packaging as these increases also affect us as the raw materials are a by product. We are currently on a sabbatical stock piling raw materials instead of manufacturing as the prices are hard enough to keep up with as they have been changing 2 or 3 times per week.

This all leads onto my post for tonight as whatever way we look at what is happening we are all going to have less in our pockets. I was wondering today how many people are out there scratching their heads trying to find an extra income or two. Making ends meet will be tough as we are talking about food prices sky rocketing.

According to some surveys a decent percentage of the population in South Africa is involved in crypto which I think is misleading. Most people in crypto have multiple wallets as that is how we operate. I would comfortably say this figure of 7.1% is lower and more like 2 or 3% max.

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The people I know who have crypto are the ones who can afford to do so which means the masses who need it cannot afford to get involved. That is the harsh reality of every day living as there is no extra to do investments. The only ones who have it locally are the foreign workers as they use crypto apps to send finances home to family members mainly in Zimbabwe.

I would definitely say the ones who have crypto here are middle to upper class and use it more to get ahead and to have a safety blanket away from the tax man. I would say this is more hidden money that hasn't been earned the legal way thus having no tax implications for now anyway.

I do expect to see a recession at some point as everything I see is leaning that way. Terrible prospects for many with many businesses already on the brink having not recovered from last years lock downs.

I know what crypto means to myself as the possibilities are endless on what you can earn if you are smart. We all know this and it wouldn't take much for me to go full time once I have everything in place as the ability to earn more than a normal job is actually not that hard even at these prices.

Everyday I thank my lucky stars for getting involved with crypto as this is going to make a big difference when the economy crashes. The ability to earn more than the person next to you just by what we have learned over the last few years sets us apart financially. This is when I expect crypto to come into it's own as this is exactly what was required for mass adoption to kick in.

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The issue of fuel increase has also affected my country Nigeria as well which in that aspect so many prices of stuffs increases and this will definitely be a major problem for the poor masses that don't have a tangible income to settle such situations. In that aspect as well I believe crypto is helping most people that is involve in it financially and that is a better advantage as well for future purposes.

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Our gas is up about $2 per gallon over where it was a month ago right now. It is going to be pretty brutal this summer travelling if it doesn't go down by then. Especially pulling a trailer when you only get 10 mpg and you have a 37 gallon tank. Thankfully I should be fine. Others will not. Very sad.

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