LEO, HIVE & CUB: Being In Control Of Your Finance & Investments
I have taken time to learn lots of new things lately and this includes how to spend less, invest more and unlock more opportunities to increase my passive income. Today I was in the bank with my cousin who is running a fixed deposit account of a sort.
He has a locked fund that would mature in about three years time and he was trying to get the account officer to calculate his prospect interest for three years and it turns out that he cannot get the account officer to calculate his interest for him for having his money locked for 3 years. He was a little bit apprehensive and saddened. He was a business man that wanted to be able to calculate how passively he would earn.
I told him about cubs, hive and how we have tool that could help him calculate how passively he could earn. I told him how he could manage to control his investment as to if he's choosing to delegate, manually or automatically curate, buy into splinterland cards or just hodl, go further into buying tribe tokens like POB and LEO and he was so estatic as to how much control he had.
This negates what the banks offered. He has been misled into believing that crypto was a dangerous venture and he only began to seek for an alternative outside the banks when he felt the bank wasn't offering him any sweet deals for locking in his life savings.
The banks are often telling people that crypto is risky and this is how they take people's money and give them almost zero percent of interest return for a specific period of time. I found myself buying more cubs lately, powering and holdling my Leo and the fact that I could look at look at my stats through token pocket or trustwallet allow me to do an estimation of what I might earn on a daily.
Truth is stats motivate people. When people are given opportunities to manage or take control of their finances they always do better than when a third party is involved. One thing I've learnt since I started earning passively online is that opportunities are very limited especially for people who live in my country.
Sometimes people lock their investments in banks not because they expect returns but because there are hardly legitimate opportunities that offers you more on your capital at hand. Apart from buying gold or maybe investing into real estate what seems popular nowadays is scammy ventures that promises you 200% on your investment while scamming you at the end of the day.
I was scrolling through on twitter some days ago and I notice that a lot of people would rather put their money into Ponzi schemes simply because to them crypto is risky. This is quite surprising, many more would rather invest their life savings on online gambling of which they entirely rely on luck. These schemes controls people's money taking away their opportunities to exit when they like. The fact that a person cannot control their money in any sort of investment schemes only shows that they're not entirely in charge and anything can happen.
The prospects of Crypto still feels unrealistic to a lot of people and this is as a result of not understanding the technology. A lot others have been stuck to how finance works and how bitcoin hardly follows the rules of traditional fiat currency and this makes it unbelievable but then this is changing, the cheating and the fascist tendencies or traditional commercial banks and dwindling options for investment are making people track back to what they believe is unrealistic and unobtainable
Interested in some more of my works?
Ode To Endless Belle (An Original Poetry)
Why "Value Quota System" Will Determine Who Is Rich Or Poor In The Future
The Art Of Pricing & The Variables That Has Made It Impossible In The Current Market
Being Receipients Of Criticism; Understanding Judgementalism From An Objective Point Of Way
The Diverse Learning Opportunities Which We're Afforded In Our Different Life Races.
My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. 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
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Thank you
I'm sure you know the term or saying "God forbid" that's what your cousin has done putting my money in a fixed deposit is telling myself am very stupid.
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Well people want to earn passively from their money and sometimes fixed deposit is probably the most popular method that people knows, we can say a lot of people are still ignorant of what's going on in the Cryptosphere.
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Actually majority are still ignorant which is sad though
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Many that aren't ignorant anymore are actually scared of Investing and putting their money to good use.
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This is the best point here
It is all about confidence
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You're said, it's like being responsible for one's money, it makes people do better than they naturally would
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You made a valid point. I just wish I was there to see the look on you cousin's face.
He will be like; "Hey Cous, when did you become a financial expert"? 🤣
Loll... The truth about crypto is, those that are not into it will never have a full taste of what it entails. If all businessmen are opportune to cross path with someone like you, they would have been much more in control of their finances.
Well Done Bro.
Looool I'm even a learner, Crypto education is something that no one is 100% knowledgeable of, it's a forever thing. But then I have learnt enough to decide my finances by all means. I bet a lot of people are going in all Crypto throughout their lives, it's promising and totally exciting
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A friend of mine has is account frozen for no reason for over 2 months, he kept complaining and all that could tell him if that he should exercise patience, a lot of of business deals got lost just because of that
Banks are anti-progress my friend hahaha, I guess Nigeria as a country is the definition of backwardness
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Actually I'm pretty excited and having an entire cryptocurrency portfolio this is absolutely phenomenal.
I am super excited and I can't wait to see the future because it is coming very quickly especially when we are enabled with all these financial tools that even the banks don't have and need to play catch up.
Continue growing your investments and yourself as well.
We really appreciate your post thank you very much.
Haha having a Crypto portfolio is phenomenal if you ask me, I mean the ability to control what comes in and what goes out is great. Thank you also for dropping by, we're builders, crypto is the game.
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I was explaining a friend the power
behind DEFI and flat out told me
I prefer the banking system cause at least
I will not lose my money.
Quick I changed the conversation
cause it is not going anywhere.
It is what it is.
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Haha many would still prefer the banking system, I mean they feel they don't lose with the banks but then, this is all lies honestly it's all different with DEFI and it's inevitable for people, this friend of yours might just be a Defi addict in the future.
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