One of the first big moves that I’m making over 2018 is to wean myself entirely off fiat and survive completely on Cryptocurrency alone.
That means I want to pay all my bills and cover all expenses entirely from crypto.
Is this possible? Can you really live entirely off of Bitcoin or Ethereum?
The answer is yes.
I’ve been doing this so far the past 3 weeks and it’s working out exactly as I imagined it would (that is, wonderfully)
How Am I Living Full Time on Crypto?
Now, now live on Crypto, you need two things readily available”
- A means to convert crypto into fiat
- A stash of crypto to live on / or a regular means of acquiring enough crypto to survive on
I have both right now, so this living on bitcoin (or another cryptocurrency) is possible for me.
In a future post, I’m going to detail how to live entirely on crypto and some strategies I’m using to do so. For those in a country that’s looking to tax crypto, you’ll also need to worry about crypto and tax (a big grey zone right now). I’ll take about some of those tax implications (and maybe how to legally get around them).
Right now though, I’m using the Centra Crypto Debit Card to convert my crypto into fiat as needed. This makes living on crypto very easy. Now, you still can live on crypto without a crypto debit card, but it would be a lot more inconvenient, requiring regular meetups to trade in Bitcoin for cash by meeting up with local bitcoin traders, using Bitcoin ATMs, or converting to fiat via an exchange.
A working crypto card, like Centra, simplifies the entire process.
I use the card anywhere that accepts MasterCard, just like a regular credit card/debit card.
The process of using the Centra card is easy. I simply send over a crypto asset (Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, ZCash, Centra) to the Centra Wallet. I then choose (via the Centra Wallet app on my phone) one of the 8 crypto assets as the default to use.
I then use the card like a regular credit/debit card anywhere that takes credit cards.
Centra converts the crypto on the spot into fiat using the current exchange rates.
If you need cash directly, you can simply hit up an ATM and withdraw cash, cashing out your crypto asset on the spot at the current exchange rate.
It’s beautiful and it works.
So stay tuned as I start blogging regularly about living on crypto.