Should you quit your stable job and go all in on Crypto Assets?

This article discusses whether one should quit a stable job and fully dedicate themselves to cryptocurrency. The author provides readers with an in-depth thinking framework from multiple angles such as backup savings, personal skills, networking, profit experience, and risk tolerance. This article is derived from a piece written by Route 2 FI, organized, compiled, and authored by Luffy from Foresight News. (Previous context: Tragic! The UK man who accidentally threw away 8,000 Bitcoins will permanently close the landfill, resigning and spending 12 years trying to dig them up has still resulted in nothing.) (Background supplement: Real-life FX warrior! Japanese live streamer All in binary options, turning 30,000 into 150,000 then to 0 yen.) If you are young, have some savings, and possess certain advantages and connections in this field, you might as well give it a try. Should you quit your stable job and fully invest in cryptocurrency? This is a frequently discussed topic. Here are some brief views: First, do you have enough backup savings? If not, how do you plan to earn a living? Just saying “I want to make money from trading” is far from enough. Ask yourself what you are good at. Perhaps the most important skill in this industry is endurance. If you are willing to invest 12 to 14 hours a day, you could say you have an advantage. Therefore, for those with less capital, time may be your most important asset. You need to continue learning and improving. So, what specific areas should you focus on? Content creation, Centralized Exchange (CEX) trading, industry research, Meme coin trading, non-fungible tokens (NFT), airdrops, YouTube videos, Telegram communities, Podcasts, etc., there are many options to choose from. If you like writing like I do, then Twitter, newsletters, and Telegram are the best platforms for you; if you are better at verbal expression, YouTube and Podcasts might suit your style better; if you are good with numbers and enjoy watching market data, then focus on honing your trading skills and connect with traders you admire on Twitter. So far, do you have a real record of making profits in the cryptocurrency field? Whether through trading, airdrop mining, marketing, or working in the Web3 field. If not, have you considered applying for a related job? Assuming you already have a certain amount of backup savings and have made money in the cryptocurrency field before. So, what will you do if one day you lose all your funds? Please seriously consider the worst-case scenario: will you still be able to pay various bills at that time? If things go south, can you return to your previous job? If you do not fully invest in cryptocurrency, what opportunity costs will you incur? Will you miss out on some potential benefits that your original job provided? Are you sure you are willing to stay in your room all day, with greasy hair and a face full of stubble, staring at the charts, scrolling through Twitter, Telegram, and Discord? You might say this is “freedom,” but is it really freedom? Personally, I am introverted and can adapt well to this lifestyle, but 80% of my friends in real life would be driven crazy by this kind of life. This lifestyle can be very lonely, even though theoretically, you can treat it as a 9-to-5 job, but in the 24/7 “casino” of cryptocurrency, achieving this is much harder than it sounds. Do you have enough self-discipline to complete your work independently? Do not underestimate the comfort that a daily routine and clear work tasks bring. For some, working independently is like magic, but for those who enjoy socializing, it may purely be a torture. Do you think there is room for income improvement after resigning? People easily feel they can multiply their net worth by 10 in the cryptocurrency field, but 98% of people cannot do this, and in fact, they end up losing money. Can you apply for a Web3-related job first and then resign from your original 9-to-5 job once you stabilize? If possible, I would recommend this approach. It’s time to face yourself honestly and ask: “Are my skills enough to get paid?” If the answer is no → seek internship opportunities. Internships can be at cryptocurrency companies/startups, venture capital firms (VC), family offices, or assisting Key Opinion Leaders (KOL) with various affairs, or doing errands for traders you admire (if you do well, they might share insider information with you). Internships usually pay low, so the focus should be on gaining experience and preparing for future development. If the answer is yes → do you plan to make money yourself or apply for a job at a cryptocurrency company? Earning money independently can be a tough and long road requiring full dedication. But if you have confidence in yourself and your skills, and believe that the long-term returns can far exceed that of a regular job, then I suggest you try this path. Applying for a job at a cryptocurrency company is a more stable choice, as you can earn a fixed salary. Moreover, who says you can’t focus on your own matters while working? Although work will take up some of your time compared to fully dedicating yourself to a personal venture, a fixed salary allows you to focus more securely on your side projects. Here’s a small suggestion: I know many people will think, “Now that it's a bull run, I have to focus on trading and have no time to find a job.” But in reality, it’s easier to find a job during a bull run. If your capital is pitifully small, why would you want to rely on trading to make money? Even if SOL triples from its current price, your $1,000 worth of assets can only turn into $3,000. And that income, you could earn in a month with an entry-level job. Most of you will not become the next “Meme coin winner,” turning $1,000 into $1 million. If you really had such amazing skills, you wouldn’t be considering whether to work and wouldn’t be reading this article. If you are going to apply for a company position, make sure to choose a company that you approve of and one where you hope to receive equity or token incentives. If financial conditions allow, you might ask for as much salary as possible to be paid in tokens (provided you are optimistic about the company). If the company eventually develops successfully, you might earn a lot from it. Do you have your own network in the cryptocurrency field? If not, you absolutely need to build one. Having friends in this field enables you to timely learn which airdrops are worth participating in, which tokens have upside potential, and find people to discuss investment strategies with, etc. If you don’t have an account on community platforms in the cryptocurrency field yet, what are you waiting for? To summarize, this question has no standard answer, but if you are young, have enough backup funds to cover several years of living expenses, and possess certain advantages and connections in this field, then I absolutely recommend that you give it a try (as long as you can return to your original job or find a similar one even if you lose all your money). Related Reports: Michael Saylor talks about the “All in Bitcoin” decision: COVID-19 made me see clearly that the dollar and gold are fake. MrBeast: If I could do it again, “I would All in Bitcoin!” Why BTC aligns with his influencer philosophy. The Truth about Web3 Job Seeking: The Bull Run is here, but jobs are gone <Should you quit your stable job and go all in on cryptocurrency?> This article was first published in BlockTempo, the most influential blockchain news media.