The Choice To Be CRYPTO-CALLY Proactive

avatar

PicsArt_08-02-07.23.22-02-01.jpeg



Savings & Insurance

Being economically responsible is an example of being proactive with one's financial situation. So is seeing the need to save. In Nigeria for example, savings is mostly how people tend to accomplishment a lot of goals and ambitions and not necessarily their salaries, incomes or earning.

To me, savings is being proactive. It helps people take care of their emergencies and also functions as a fall back plan when people are no longer in a position or capable of working any longer. I've seen people with meager salaries build and own landed properties overtime of saving, building and earning, while I've seen many others with fat earnings accomplish nothing after a really long period of earning.

Insurance companies and institutions have taken advantage of this phenomenon to build something for themselves.


Being Proactive

Make no mistake, I still believe insurance companies are legal thieves, and this reason is because they're just like commercial banks.

They offer you a savings path but take away the things of which they should really insure you against. Truth is, people are aware of financial proactiveness, they're just not aware of the numerous opportunities outside the financial institutions.

One of the things that has awakened people to financial proactiveness in recent times is Covid-19. For example, there are people who depend on daily returns to take care of their needs and hence they'll need to physically go to their stalls where they meet their clients for business transactions. Because they make money on a daily, they feel they do not need to save but something as unexpected as Covid-19 happened.


Crypto as an insurance

Covid-19 has brought a new awareness and even people who are banking with insurance companies had to endure the pain of being out of jobs, staying at home, no means of income with their money stuck with insurance companies against things like fire outbreak or retirement. They cannot get their money simply because the plan wasn't for a pandemic.

This is a typical example of people being wrongly proactive with the right Intentions. A lot of people have come to key into the flexibility of crypto. While insurance companies are limited in terms of financial policies, people have come to understand that centralized financial institutions are only good with goading people, while using their money to earn from other financial schemes.


Wealth Transfer

For example, leaving my binance keys or my hive account to my next of kin, maybe my child will be a far more smooth process of transition than when you're leaving them an insurance policy or a heavily studded bank account. Why is this?

Wealth transfer through centralized financial institutions can be very difficult. This is the same with transferring a property that's tied with any financial government agency.

Truth is, the decisions itself to save money in crypto rather than insurance schemes saves you from being financially cut out especially when something as unexpected as Covid-19 happens, this is to show that crypto is having more utility.

With DeFi for example, you get to earn passively and with stable coins you can save for a futuristic goal without the fear of volatility.


Crypto: Unlimited

Crypto then offers you accessibility at any point in time, this is what a lot of financial institutions hardly do. Personally the only thing I use traditional bank account for is transactions or fiat currency.

I feel that Nigeria as a country has limited crypto in this aspect for fear that it might cripple her native currency. If people are able to transact money using crypto as an extra option, nobody will use commercial banks anymore.

But then, I feel people should decide for themselves rather than being denied that opportunity, I think being stifled from digitized opportunities in a technologicalised and sophisticated world should be against one's human right.

Poverty is eating deep into Many African countries simply because of the lack of choices, people are left with coping with monopoly, Inflation and being choked into using fiat as the only means of exchange.




Image owned by me



Interested in some more of my works?


Why Do Nigerians Choose To Dye Their Hair? (Feature Article)
How Life's Issues Prevents Us From Obligatory Priorities
A Sense Of Self Accountability: Why Minimalism Exceeds Beyond Spending Money.
A Taste Of You.... (POB WOTW) {An Original Poetry)
Causality & Common Sense: Some Answers To Most Plausible Questions?


IMG_20210621_075339_422.jpg


My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers


@Josediccus, your brother-in-pen & heart


I'm hoping to reach more people who are broken at heart and spirit, so share on any platform or reblog


My Twitter handle

Posted Using LeoFinance Beta



0
0
0.000
12 comments
avatar

Congratulations @josediccus! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 300000 upvotes.
Your next target is to reach 310000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

0
0
0.000
avatar

financial institutions hardly ever offer something better than 12% annual profit from my experience. awfully low when compared to anything crypto-related. even hive's hbd savings is at least as good. but long-term investing in crypto has gigantic advantages almost no one understands

0
0
0.000
avatar

You're more than correct, we use to look at the fact that they offer certainty and as a result of this we forget how limited and so little they offer, the age of crypto is beginning to expose them, by all means.

Posted Using LeoFinance Beta

0
0
0.000
avatar

insurance companies are legal thieves

They definitely are because they are always trying their best to never pay out. Even though they are, we can't avoid paying for it because we never know when we will get a unforeseen accident.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Truth is at the end of the day, we hardly get up to these 50% accidents we try to insure ourselves against, for example,no one insured themselves against Covid-19 infact having a stack of crypto would have done that.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Make no mistake, I still believe insurance companies are legal thieves, and this reason is because they're just like commercial banks.

Bro you are my dude. You bring it each and every post and straight dropping mics.

untitled.gif

0
0
0.000
avatar

Hahaha, thank you, i try to always give it a shot, sometimes it mistakenly comes out really good. Hahaha.

Posted Using LeoFinance Beta

0
0
0.000
avatar

I know a little about insurance
and indeed you can put them in the same basket as banks.
Somehow they are helping the banks to siphon the funds through insurance.
The more you know about finance, it will be a lot easier
to fit the profile of crypto.
A lot more to come with crypto.

!BEER

Posted Using LeoFinance Beta

0
0
0.000
avatar

Their schemes and activites are all over televison and radio as they try to always siphon people of their money by selling them these schemes, it's how commercial banks eventually does it too. Crypto is more altruistic by all means and flexible and brings a lot more utility than these two I guess.

Thank you, for dropping by.

Posted Using LeoFinance Beta

0
0
0.000
avatar

True. Crypto is the real insurance. Not only against your savings, or stock investments but overall. Even a part of your job insurance, as you shared, people suffered a lot who relied on daily sales and revenue.

Maybe they would have suffered less if they knew a thing or two about crypto.

I am sure, after covid, more and more people will understand the benefit of crypto investments in the long term.

Thanks for sharing your perspective on investing in crypto as an insurance🙂

0
0
0.000