Passive Income Road Trip #4: Cryptocurrencies

I arrived today in the dusty city of Las Cruces, New Mexico. I have fond memories of this place from when my wife and I made this road trip in 2012.

I remember a lush, green desert landscape; that memory is not what I saw today. The city looks like it did not survive the pandemic lockdowns.

As humans and investors, we must ensure we stay on top of trends or run the risk of becoming “dusty and worn down.” 

The Magic of Living Below Your Means

Welcome back to the Passive Income Road Trip series (Financial Mindset, Retirement Planning, Dividends), where I dream of passive income adventures aloud.

The future of cryptocurrencies. The future of cryptocurrencies is bright, although you wouldn’t tell from the news. The news cycle constantly brings you doom and gloom for the future of decentralized finance. 

News channels sell fear and panic because it’s the easiest way to gain clicks—it also works on the average person. Therefore, cryptocurrencies, DeFi, and the Metaverse all suffered from a “run on the bank.”

However, we must persist and understand that all new and different ideas go through these growing pains. The internet, video games, and social media also went through the same harsh media scrutiny.

Pay Off Debt or Start Investing 2

What to believe. The media will have you believe that cryptocurrencies have no intrinsic value. This means that they are worthless and consist of “made-up value.”

They will tell you that the root cause for crypto is “the bigger fool theory” that purports someone has to buy your coins for a higher value than you paid. We can also call this a Ponzi scheme. 

These talking heads have not understood the power of cryptocurrencies and DeFi. Currently, we can make trust-less loans, invest in new coins with staking, and send money to the far reaches of the world without a bank. 

Crypto lets the banking and peer-to-peer genie out of the bottle, and traditional finance wants to put it back inside. As I wrote in “Crypto Investing 104: Start with Stablecoins,” the world will now have access to the US Dollar via USDC stablecoin—this is magical.

From Zero to Zeros: $0 to $200,000

Get started with crypto. After reading a book, the best way to get started with crypto is by investing for interest. 

My favorite centralized exchange, Voyager, is going through a tough time. They used a lending house that was placing some highly leveraged bets for the future of crypto. 

The lender went down because of margin calls, which also brought Voyager down. Voyager is currently in bankruptcy proceedings and restructuring. 

I have all my crypto money (about $10,000) tied up in Voyager, so I am just playing the waiting game. I can’t recommend another place to invest, except for perhaps Coinbase.

Investing for Interest 103: Treasury in Treasuries

Either way, be careful for now. The considerable interest that companies paid came from the enormous risks their underwriters took. Hopefully, as crypto markets recover, exchanges are smarter with whom they conduct business.

The Metaverse calls us. If there was ever a bull case (a positive endorsement) for cryptocurrencies, it’s from the future of the Metaverse. 

The metaverse will run on digital currencies, with crypto forming the interworking of the entire system via smart chains. We will also conduct business and pleasure by exchanging coins inside these massive worlds. 

Real Estate Investing in Your 40s

I have been hard at work giving my vision of the future of the metaverse. Below I gathered all the articles I have written thus far. 

1. The Metaverse 101: Enter the Metaverse
2. The Metaverse 102: Real Estate in the Metaverse
3. The Metaverse 103: Business in the Metaverse
4. The Metaverse 104: Education in the Metaverse
5. The Metaverse 105: Employment in the Metaverse
6. The Metaverse 106: Relationships in the Metaverse
7. The Metaverse 107: Friendships in the Metaverse
8. The Metaverse 108: Fitness in the Metaverse
9. The Metaverse 109: Content Creation in the Metaverse
10. The Metaverse 110: Life in the Metaverse
11. The Metaverse 111: Transfer of Wealth in the Metaverse
12. The Metaverse 112: Artificial Love in the Metaverse
13. The Metaverse 113: The Metaverse vs. Your Job
14. The Metaverse 114: Consulting in the Metaverse
15. The Metaverse 115: Coaching in the Metaverse
16. The Metaverse 116: Advertising in the Metaverse

How about NFTs? It seems that Non-Fungible Tokens (NFTs) have had their day in the sun. The highly speculative auctions and easy money have slowed down tremendously. 

Don’t worry; they will make a comeback and be better than ever. NFTs started purely as speculative ways to build capital gains—a bigger fool has to come along.

USDC vs. Treasuries vs. Saving Bonds

They will relaunch as ways for artists and companies to give more value to their customers. Sure, these NFTs will grow over time, but almost everything increases in value in the long run.

NFTs allow creators to make wholly unique digital products and give them to their most valued members. Imagine me creating a book just for you. It’s a fantastic concept and one the creators will flesh out in the near term.

Conclusion. Cryptocurrencies, decentralized finance, the Metaverse, and NFTs will all have better days. We are in the early innings of this fantastic economy.

Start a Consulting Business Towards Passive Income

The only way to see through the noise (news media) is to read books and follow crypto websites. Here you will see the value of “the people” building their products outside large companies and governments. 

If you need to catch up on crypto, please read “Counting on Crypto 2.” I will release part three in a couple of weeks. If I remember, I will go back and add the link here.

The crypto-verse is unknown to most people, so they fear it. It’s not going away anytime soon. You can either get on board and ride the wave to better fortunes or end up like this dusty, forgotten city. Good Luck!

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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing