CRYPTOCURRENCIES AND THE CONCEPT OF FINANCIAL FREEDOM ARE THEY RELATED 73909 1 - CRYPTOCURRENCIES AND THE CONCEPT OF FINANCIAL FREEDOM, ARE THEY RELATED?
July 12, 2022

Cryptocurrencies have shown the amount of profit they can produce as long as the resources have been well managed and, of course, with risk management limiting negative operations to their lowest expression. Furthermore, click this link to get into the cryptocurrency investment concept.

These returns are compared with what financial freedom could represent; the long-awaited economic-financial status people want at a certain point in their lives.

The financial interaction with various types of currencies makes achieving that financial freedom is even more tempting since multiple goods and services can be purchased without being limited to a specific legal tender currency.

What is financial freedom?

At the time of defining this concept, we find ourselves in a diversity of opinions which merge to understand that financial freedom is the ability of a person to satisfy their needs, tastes, and passions without carrying out activities daily or working traditionally.

It is to reach the point where the economy and finances worked in a previous period already work for us; it could be considered the amount of time a person can generate income without working for it.

It is to obtain comfort and tranquility over time where financial activities are done for pleasure and not out of obligation; it is an emotional state that generates stability and where external factors are not the main engine that drives investments.

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Relationship between financial freedom and cryptocurrencies

Cryptocurrencies have emerged in the constant search of people for alternatives that provide a variable but continuous income over time.

For two years, this concept of investment for many has become a business; it has begun to attract the attention of thousands of people; consequently, many economies in the world are beginning to transform, and the cost of living is becoming higher.

Cryptocurrencies have become the perfect option to give value to the already owned capital. Still, with investments that could generate even more than 100% of the money invested, a digital financial proposal that could be a fantasy is a fact.

The interaction between various investors worldwide has been able to offer all users of digital currencies the answer to that need to be their bosses and maintain profitability that allows them to savor what financial freedom means.

This concept of financial comfort can be related to digital currencies from the decentralized perspective of these elements because freedom, as its name says, is independent. Therefore, it fits perfectly with cryptocurrencies and their platform.

In a few words, cryptocurrencies, like financial freedom, do not depend on a bank or financial institution; they are directly managed and controlled by their owners or users.

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Who offers more financial freedom?

Worldwide many people have a bank account associated with a particular financial institution; the fact is that there is also a considerable percentage that does not use these instruments since they consider the process cumbersome. In addition, the documentation required in some cases is excessive.

Banking entities often have greater control over the money available to their customers through savings accounts than the savers themselves.

Suppose the case is a request for financing. In that case, Banking is in power to collect the money corresponding to the financed capital at the time they consider appropriate. It shows that these entities do not offer freedom but control and supervise the assets.

Given this traditional scenario, the annual benefits are usually a percentage that is not profitable to keep the savings stored for an extended period.

Unlike digital currencies, the risks and returns assumed are for the account of 100% of the users, to the point that the benefits obtained are managed in a decentralized manner through digital wallets, and the disposition that is had concerning this is at the discretion of each user. When financial freedom is achieved in the crypto environment

At the moment when a user can compound their funds steadily and earn returns even in whatever digital assets trend.

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It is having that peace of mind that regardless of whether digital assets increase or decrease in price, returns will be generated. The possibility of having your money anytime and in any amount without needing to be controlled or limited by a third party.

Conclusion

Cryptocurrencies and financial freedom are considered in the future by anyone. We all have that desire, but it should be noted that this is not achieved from one day to the next; constancy and perseverance are responsible for giving back through stable finances.

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