I am no Cryto-guru. My knowledge of crypto currency is minimal but Life lessons can be drawn from any situation.
In my post Timing Is Everything! I shared on the importance of timing. So, if you have been following Bitcoin you will know it has exceeded past performances on Monday, reaching $34000! Before slipping back to around $30000 for one coin!! For those whose world is Bitcoin, their excitement must be off the scales right now. Whilst for many in the banking world the contrast couldn’t be more different with an immense downturn to battle against. However, for anyone who is truly into doing the minimal in effort, simply buying or invest in Bitcoin and then watching, they are the benefactors of a passive means of income.
Basically, the investment is increasing whilst they are not doing a thing.
Passive income is that place where money works for you whether you are awake or asleep. In the office or on holiday.
It is never a good thing to be dependent on one single egg or one Golden Goose.
Even if that Golden Goose is crypto, like Bitcoin. It is still important to have multiple eggs in your basket. A number of things that work passively for you.
Multiple streams of income has always been the wisest mode for living. One job, one wage, one source of income has always been a recipe for struggle, should anything go wrong.
Leaving your future in the hope of a single pension is also a vulnerability. Income coming in from multiple directions is always better than just one.
So what could become a passive income for you? The unwritten book? The undeveloped App still a mear idea? The new online training program you have had in mind for months? Even your Blog could become an income earner. But, to get a passive income into a position where it has become successful is a challenge, but when you do, it is the best thing you could have.
Is this the time, the year to shift this from a thought into an actuality?
Be the change you want to see.