image from @anomadsoul

As we all know that in over decades that Cryptocurrency has really gained more significant popularity which bitcoin has really gave Cryptocurrencies well known by people. And most individuals have really depends on investing on Cryptocurrencies as a way of Sustaining there livelihood and they keep exploring on the chain of cryptocurrencies so as to expand the way it can benefit the individual.

But we all know that no matter what has an advantages will surely have its own disadvantages as well, so as Cryptocurrencies is so fun and enjoyable during the bull market but there are lot of work done before the enjoyment and some challenges also encountered the Cryptocurrencies investment as well. So in this writing I will explain and touch some advantages and challenges that may occur when depending on Cryptocurrencies investment as a way to sustain a livelihoods.

ADVANTAGES OF CRYPTOCURRENCIES INVESTMENT IN MAKING A LIVELIHOODS

When depending on Cryptocurrencies for a living, that means we depend on it due to it potential for high profit which is main advantages that most people believe in before committing into investing in Cryptocurrencies and when we come to look at it, Cryptocurrencies have witnessed substantial price appreciation as well over the years and which enables early and subsequent investors to achieve and makes high profits. And moreso we a know that Cryptocurrency is been operated on decentralised network which gives investors investing in Cryptocurrencies to have access to it a over the world.

Been a decentralised network makes it another advantage for individuals who are having issues with traditional banking to depend on it as a way of living because the can have access to there asset at their own convenient moments and it doesn't need them to wait or queue to get into there assets and it is been more secured talkless of running with traditional financial systems.

In addition to the advantages of cryptocurrencies is that it offers diversification of investment which you need to learn and understand more than bitcoin and can also invest in other assets or coins such as Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and more Iike that which give you room to keep learning and earning each day, when you depend your lifestyle on Cryptocurrencies investment that means you need to keep learning everyday and you don't limit your knowledge so as to earn big everytime.

SOME CHALLENGES IN CRYPTOCURRENCY INVESTMENT

Cryptocurrencies will teach you life when you're not learning from it because of it fluctuations in price and the main challenges of cryptocurrencies investment is the unpredictable price fluctuations as it has been happening since some days back which we are witnessing some dips and liquidations in the price and the market keep fallings and when this occurs some investors might not be able to see no gain or even fall back in the investment and think it's all over for them.

And moreso the lack of a consistent regulatory framework can create uncertainty and potential legal challenges for individuals relying on Cryptocurrencies for their living and the regulatory is always vary across each countries and jurisdictions. Also lack of knowledge on blockchain technology and experience on the market trends can lead to a poor investment decisions and financial issues which people who depends on Cryptocurrencies investment for living who are lack in having more knowledge and experience in the technology can face lot of challenges depending on it to make a good living.

In conclusion, when you're the type of person who depend on Cryptocurrencies investment as a way of living, it can be so challenging that you'll experience a significant emotional stress due to the fluctuations of price and the liquidations as it has been happen some days back now and it can also affect your decision making and your overall well-being but when you can overcome all the challenges then you are a good investors and you are good to go to make a good investment. Untimely, a balanced and informed approach is necessary to navigate the volatile world of cryptocurrencies and make sound financial decisions.

Thanks for stopping by my post and I'm always open for additional or corrections if you find any. I'm still learning and I will like to keep learning day by day.