How has Crypto and Blockchain Technology Changed My Personal Finance

in LeoFinance3 months ago

I started my first job job job after uni in 2012 as an intern, bright-eyed and ponytailed, lol what was I thinking? Don't ask me but the mini-mullet look was all the rage back then.

Once I started to earn my own money I had to come to terms with what to do with it when compared to my peers I was pretty frugal and saved a large portion of my income and started to invest it in various products in traditional finance and didn't think much of it.

I knew nothing about money, and I just thought you know let the money people handle that, they know best and I'll save and hand over my cash to those financial advisers and their products.


The introduction

Then in early 2016 a friend told me about Bitcoin, and I bought some, I made profits in a concise period of time, and I sold it and then thought wow, this is awesome and started to buy more.

Then someone told me there's actually more than one coin, and there's this thing called Ethereum which I bought too and never sold, and I've made tonnes of unrealised profit on that trade.

This magic money had me hooked, and when 2017 came around I was riding high, this was my first bull run, and like anyone who buys in at the beginning of the bull run, I thought I had found the golden ticket to the chocolate factory. I was going to be chilling with the Oompa Loompas shortly.

It all came crashing down, and my profits were shot, lol, why me? I knew it was too good to be true. As many of my friends got burned and left, I decided it was time to double down. Something about crypto clicked in me, and I was determined to find out more.

The love of learning

Over the last 3 years, I've learned so much about cryptocurrency and taking ownership of my own finances. I've learned how to investing in various projects, how to use cryptocurrency and the meaning of money and how it works. As you can tell from my blog, I focus mainly on finance, but this has just been me documenting my journey.

Some might think that I know a lot about finance, but 3 years ago I had no clue what inflation does, what a bond is how stocks work, what dividends were, what are non-correlated assets and so much more.

Crypto was my gateway into macroeconomics which is a topic I am fascinated about, and I continue to research and learn as I learn more about macro and behavioural economics I've learned how to bet against or for certain outcomes.

My crypto journey so far

The more I learned, the more bullish I've become on crypto, I've gone from crypto being 1% of my net assets to now being well over 20% and I can't see it stopping there especially as I buy in each day and earn crypto through my various efforts online.

Crypto has made me feel more confident in handling my own money, not trusting 3rd parties, learning to do research, learning to discern fundamentals from narratives and so much more.

Share your crypto journey

Let's create a collection of crypto stories. I'd love to hear yours. If you'd like to share your journey, I encourage you to do so, and you can find all the instructions here.

If you do submit one, feel free to tag me in your post or post comments so I can check it out and kick some crypto your way.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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Posted Using LeoFinance Beta


Seems right around the same time I developed financial smarts from fiat to crypto. There are some parallels on our journey. A friend also shared about bitcoin and altcoins, having the same mindset about letting people who know how to handle money make the decisions, and then learning how to get burned on the trade.

For now I'm still a phase where learning traditional fiat investments become a priority. I do think cryptofinance is really worth the time studying but I prefer a slow build up just to scale up my financial literacy training.

Good luck on your crypto journey!

Posted Using LeoFinance Beta

I do still invest in traditional fiat stuff like stocks, unit trusts and various funds but nothing active mostly looking at passive. I do want to get into precious metals once I feel I've got enough skin in the game in crypto.

Well you still ahead of 99% of the world by realising crypto exists and owning a bit of it.

Thanks and wishing you all the best

Posted Using LeoFinance Beta

I've learned so much about cryptocurrency and taking ownership of my own finances. I've learned how to investing in various projects,

I relate a lot to this line, heck I relate a lot to your discovery and impact of crypto in general, only that I got in about 2weeks to the end of the bull run lol and my first was Steem, not bitcoin or ETHEREUM, I only found out about those later.

Ultimately, crypto allowed me to be my own boss, and I've never looked back. That's my story. I'd be posting mine tomorrow morning

Posted Using LeoFinance Beta

Wow, if that's the case then I am pretty impressed you stuck around, you literally saw one of the worst resets in crypto history thus far, mad respect for sticking around and I hope you continue to profit from your decisions.

I am glad people are waking up to money, taking ownership of their finances I think that's just as important as having this new investment and savings tools

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Lool I got into Steem when it was $8, after the bull run and the decline started, I bought more Steem at $5, with the thought that it was the usual crypto way, till it all kept tumbling down.

I'm impressed too, because all the guys whom I started with are far gone, mostly learning about new things kept me here, discoveries, and the fact that where was actually no better place to be, fundamentally

Posted Using LeoFinance Beta

LOL damn you really took the long way down and back up again but I’m glad you stuck around steem still has a way to go to reach that again but I hope you earned more since then to offset your losses

Ive made so much more both monetarily and other aspects that can't even compare to what I lost. I don't even count them as losses anymore.

Posted Using LeoFinance Beta

Great story, my friend! Most of us had a similar one, and a lot of people came here in 2016-2017, "got burned", and LEARNED... I would say that 90% of people who were here during this period of 2-3 bear years will do very well soon... Because we have been UP, and we have been down... This time, we will play smarter... :)

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Posted Using LeoFinance Beta

I sure do think I am better prepared this bull run and hope to make less mistakes than I did the previous time and take some profits, at least I now have the HIVE mind to keep me up to date with trades and ideas and to earn a bit to offset anything I lose lol

Posted Using LeoFinance Beta

Thank you for sharing your story how it began for you.
I should really start doing my own research on your topics

I would highly encourage it, it's a fundamental part of being a crypto holder

It seems like crypto has the power to really change mindsets over how people see or view their relationship with their finances. It's not for everyone but those who want to have some ownership of their money, it's a great opportunity to do that. On top of researching and all the learning that goes along with it!

That's quite an increase in total portfolio holdings in crypto! If BTC or your crypto goes up, it could be a lot more than 20%!

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I think that each class of Bitcoin is different, like I am of the class of 2016 and we think differently to the class of say 2010 and now the class of 2020. As each year goes by the different classes pass on the info and bring in new people and you can see how that changes the view on Bitcoin. 2016 and before was heavy research-based, Austrian economics, people who felt something wasn't quite right, the ones coming in today are just like store of value narrative types

It's really interesting to watch how it matures and brings in more people of different adoption levels

I guess I'm the class of late 2017 which was a brutal period of crypto education lol! Wonder how the next classes get schooled and how they think about it all, guess we'll find out!

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I think that a lot of us have been positively affected, financially by cryptocurrency. Interesting story; it was good that you adopted cryptocurrency a bit early. I'll share mine soon.

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Well if you’re still here then I am sure it is likely a positive outcome where as witb those that invested in things like Bitconnect or got scammed or burned in a trade they might say it sucks and never come back

It sure has been a roller coaster ride for most. Many choose to stay on the sidelines due to the volatility. Personally I love the volatility.

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Even with all, I learned the volitlity got to me until I started listening to Chris Cole, and I realised volatility is truth, that's how it should be it weeds out the weak hands and moves capital to the better allocators

Still not totally comfortable with it but I am getting used to it

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The more I learned, the more bullish I've become on crypto, I've gone from crypto being 1% of my net assets to now being well over 20% and I can't see it stopping there especially as I buy in each day and earn crypto through my various efforts online.

Crypto has made me feel more confident in handling my own money, not trusting 3rd parties, learning to do research, learning to discern fundamentals from narratives and so much more.

Experience > Knowledge

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The more you learn the more you earn, well at least in this game its been the case for me, I've also had my fair share of dumb luck too

I can relate to dumb luck too

Also dumb misfortune


hahaha i would love to see this!

Isn't it amazing that if for example, someone told me to learn about stocks and stuff i wouldn't even be bothered and i am majoring in business administration :P But when it revolves crypto and our own research we literally learn everything around it :P

Posted Using LeoFinance Beta

LOL I am glad that part of my life is now well behind me and not dragging behind me 🤣

I feel you I am the same I tried learning about stocks but its no boring and its just bout the money really blockchain has so much more to it so I guess that's what keeps me coming back too

Excelent job

Thank you!

Sounds like you've got a nice balance approach, I think it's good to diversify for sure.

Mind you 2021 might be the year that 20% goes to 70% or more!

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LOL I am not ready for that level, if it gets to 70% I will have to sell off and rebalance into other things like precious metals, going to be a fun challenge none the less