{"id":548057,"date":"2023-02-05T13:40:00","date_gmt":"2023-02-05T10:40:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\/"},"modified":"2023-02-05T13:40:00","modified_gmt":"2023-02-05T10:40:00","slug":"is-it-possible-to-achieve-financial-freedom-with-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\/","title":{"rendered":"# Is it possible to achieve financial freedom with Bitcoin?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a25db44044b8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a25db44044b8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\/#%E2%80%9D_Is_it_possible_to_achieve_financial_freedom_with_Bitcoin_%E2%80%9C\" >&#8221; Is it possible to achieve financial freedom with Bitcoin? &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\/#Hodl\" >Hodl<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\/#Dollar-cost_averaging\" >Dollar-cost averaging<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\/#Self-custody\" >Self-custody<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Is_it_possible_to_achieve_financial_freedom_with_Bitcoin_%E2%80%9C\"><\/span>&#8221; Is it possible to achieve financial freedom with Bitcoin? &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Over the last 14 years, investors have been attracted to Bitcoin (BTC) for many reasons \u2014 from being a potential solution to the economic woes of the existing fiat economic system to reaching the unbanked and diversifying portfolios. However, a large portion of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> public sees Bitcoin as a gateway to financial freedom amid growing fiat inflation and geopolitical uncertainties.<\/p>\n<p>Traditional banking systems have, time and again, served as a tool for centralized governments to dictate financial access, especially during emergencies. Most recently, the Ukraine-Russian war served as a case study for how cryptocurrencies helped the displaced and the unbanked access funds for basic necessities. <\/p>\n<p>As intended by the creator Satoshi Nakamoto, Bitcoin seeks to bring power back to the people. No amount of regulations, sanctions or bans can stop people from using Bitcoin as money. Beyond that, a calculated investment in Bitcoin has the potential to bring people closer to attaining their dream of financial freedom. But how can people achieve that?<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hodl\"><\/span>Hodl<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The massive volatility of cryptocurrencies coupled with the restlessness of an investor is a recipe for an instant loss. Many fail to understand that Bitcoin \u2014 unlike other cryptocurrencies \u2014 is a long-term investment. Hence, Bitcoin veterans recommend holding the asset during bull markets and buying the dips during bear markets.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.upmyinterest.com\/fund?tick=Bitcoin\">According<\/a> to\u00a0data from UpMyInterest, setting aside a few off-years, Bitcoin holders witnessed a mean annual return of 93.8%, which in its best-performing year, spiked to 302.8%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/1dfcf203-707b-4a46-8ec2-6aa5ef8032f3.png\"><figcaption style=\"text-align: center;\"><em>Historical summary of Bitcoin annual returns. Source: UpMyInterest<\/em><\/figcaption><\/figure>\n<p>As simple as it sounds, hodling (crypto lingo for holding assets) has proved difficult for investors. Some factors that trigger abrupt Bitcoin selling include the spreading of FUD (fear, uncertainty and doubt) and price movements.<\/p>\n<p>While it makes sense in the short-term to earn profits off Bitcoin\u2019s volatility, zooming out the price chart reveals a long-term greater incentive in holding. Moreover, investors owning Bitcoin will always have the option to utilize this spending across geographical boundaries without losing value.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dollar-cost_averaging\"><\/span>Dollar-cost averaging<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Considering Bitcoin as a viable long-term investment option, many investors tend to implement the dollar-cost averaging (DCA) strategy. This involves setting aside a predetermined dollar amount from a regular income to be reinvested in Bitcoin every day, week or month. <\/p>\n<p>While El Salvador was initially criticized for adopting Bitcoin as a legal tender amid crippling inflation, the country could repurpose the resultant unrealized gains to fund <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> projects, such as building hospitals and schools.<\/p>\n<p>With the Bitcoin bull run running out by 2022, Salvadoran President Nayib Bukele followed a strategy similar to DCA, wherein the country would purchase 1 BTC every day.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are buying one <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> every day starting tomorrow.<\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1593113857261965312?ref_src=twsrc%5Etfw\">November 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>When Bukele announced his plan for buying Bitcoin, it was priced roughly at $16,600, as shown by data from Cointelegraph Markets Pro and TradingView. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/a37a3fe2-187b-47f9-816d-b9559491bf95.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin price movement ever since Nayib Bukele announced plans to purchase 1 BTC every day. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Since then, BTC\u2019s price has surged 40.46%, providing much-needed relief to Salvadorans. Investors looking for financial freedom must pursue a similar strategy while reacting to market changes and public sentiment.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Self-custody\"><\/span>Self-custody<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When it comes to the long-term holding of Bitcoin, the key is not to trust any other third-party entity with the assets&#8217; private keys. Investors who store Bitcoin on crypto exchanges unknowingly give away complete control of their assets. <\/p>\n<p>Ever since the FTX fraud came to light, the case of self-custody grew stronger. Investors that suffered losses owing to the alleged mis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriation of funds realized the importance of self-custody. Maintaining ownership of the private key \u2014 via self-custodial wallets \u2014 becomes paramount for those that seek financial freedom in its truest sense.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Will be sending an email every week strongly advising our people to never keep savings on any exchange, including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/paxful?ref_src=twsrc%5Etfw\">@paxful<\/a> This is the way ! Self custody your savings ALWAYS! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/DI95Gaa5Y6\">pic.twitter.com\/DI95Gaa5Y6<\/a><\/p>\n<p>\u2014 Ray Youssef (@raypaxful) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/raypaxful\/status\/1601934200893997057?ref_src=twsrc%5Etfw\">December 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The FTX fallout also forced crypto exchanges to prove the existence and safety of users\u2019 funds in order to avoid a low liquidity situation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance Releases Proof of Reserves System | Binance Support <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pdA2OdvAKG\">https:\/\/t.co\/pdA2OdvAKG<\/a><\/p>\n<p>\u2014 CZ  Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1596125314282921991?ref_src=twsrc%5Etfw\">November 25, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Although hardware alternatives for crypto self-custody require an upfront investment, it is up to the users to choose an ideal method of storing the private keys, even if it means writing the private keys on a piece of paper.<\/p>\n<p>The three practices mentioned above \u2014 hodl, DCA and self-custody \u2014 form the main pillars of financial freedom. However, users are not limited from trying other strategies that suit their needs.<\/p>\n<p>Achieving financial freedom with Bitcoin is possible. Given the nascency of the crypto ecosystem, investors are advised to focus on the long-term benefits of Bitcoin while reaping short-term gains in the process.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/is-it-possible-to-achieve-financial-freedom-with-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Is it possible to achieve financial freedom with Bitcoin? &#8220; Over the last 14 years, investors have been attracted to Bitcoin (BTC) for many reasons \u2014 from being a potential solution to the economic woes of the existing fiat economic system to reaching the unbanked and diversifying portfolios. However, a large portion of the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":548058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/d926d4a9-c812-45c9-8be3-88ca9082e0c4.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,89034,139454,120791,138031,74355,70610],"class_list":["post-548057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cold-storage","tag-financial-independence","tag-financial-literacy","tag-self-custody","tag-adoption","tag-finance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=548057"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/548057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/548058"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=548057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=548057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=548057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}