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

If you are young, have some savings, and possess certain advantages and connections in this field, you might as well give it a try.

Written by: Route 2 FI

Translated by: Luffy, Foresight News

Should you quit your stable job and devote yourself entirely to cryptocurrency? This is a frequently discussed topic. Here are some brief thoughts:

First, do you have enough backup savings? If not, how do you plan to make a living? Simply saying "I will make money by 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 put in 12 to 14 hours a day, you can say you have an advantage. Therefore, for those with less capital, time may be your most valuable asset.

You need to keep learning and constantly improving. So, what specific directions should you focus on? Content creation, centralized exchange (CEX) trading, industry research, Meme coin trading, NFTs, airdrops, YouTube videos, Telegram communities, podcasts, and so on—there are many options to choose from.

If you, like me, enjoy writing, then Twitter, newsletters, and Telegram are the best platforms for you; if you are better at verbal expression, YouTube and podcasts may suit your style more; if you are good with numbers and like to watch the market, then focus on honing your trading skills and connect with traders you admire on Twitter.

So far, do you have a real track record of making profits in the cryptocurrency field? Whether through trading, airdrop farming, marketing, or working in Web3, etc. If not, have you considered applying for a related job?

Suppose you already have some backup savings and have made money in the cryptocurrency field before. Then, what if you lose all your funds one day? Please seriously consider the worst-case scenario: will you still be able to pay all your bills?

If things go south, can you return to your previous job? What is the opportunity cost if you don’t go all-in on cryptocurrency? Will you miss out on some potential benefits from your original job?

Are you sure you’re willing to stay in your room all day, with greasy hair and a stubbly face, staring at 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 go crazy living like this. This life can be very lonely. Although in theory you can treat it as a nine-to-five job, in the 24/7 "casino" of cryptocurrency, it’s much easier said than done.

Do you have enough self-discipline to work independently? Don’t underestimate the comfort that comes from a daily routine and clear work tasks. For some people, working independently is like magic, but for those who love socializing, it can be pure torture.

Do you think there is room for income growth after quitting your job? It’s easy for people to think they can 10x their net worth in crypto, but 98% of people can’t do that; in fact, they end up losing money.

Can you first apply for a Web3-related job and then quit your nine-to-five after you’ve settled in? If you can, I would recommend this approach.

It’s time to be honest with yourself and ask: "Are my skills enough to get me paid?"

If the answer is no → seek internship opportunities. The internship can be at a crypto company/startup, a venture capital (VC) firm, a family office, or assisting key opinion leaders (KOLs) with various tasks, or even running errands for traders you admire (if you do well, they will share inside information with you). Internships usually don’t pay much, so the focus should be on gaining experience and preparing for future development.

If the answer is yes → do you plan to make money on your own, or apply for a job at a crypto company?

Making money independently can be a tough and long road that requires full commitment. But if you have confidence in yourself and your skills, and believe that the long-term returns can far exceed those of an ordinary job, then I suggest you give it a try.

Applying for a job at a crypto company is a more secure choice, as you can get a fixed salary. Besides, who says you can’t focus on your own projects in your spare time?

Although working will take up some of your time compared to going all-in on your own business, a fixed salary allows you to focus on your side projects with more peace of mind.

Here’s a small tip: I know many people think, "It’s a bull market now, I need to focus on trading, I don’t have time to look for a job." But in reality, it’s easier to find a job during a bull market. If your capital is pitifully small, why bother thinking about making money solely through trading?

Even if SOL triples from its current price, your $1,000 asset will only become $3,000. And you can earn this income 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 skills, you wouldn’t be considering whether to work, let alone reading this article.

If you are applying for a company position, be sure to choose a company you recognize, and one where you hope to receive equity or token incentives. If your financial situation allows, try to request as much of your salary as possible in tokens (provided you are optimistic about the company). If the company develops well in the end, you might make a lot of money from it.

Do you have your own network in the cryptocurrency field? If not, you definitely need to build one. Having friends in this field allows you to keep up with 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 a social media account in the crypto field yet, what are you waiting for?

To sum up, there is no standard answer to this question, but if you are young, have enough savings to cover several years of living expenses, and possess certain advantages and connections in this field, then I definitely recommend you give it a try (provided that even if you lose all your money, you can return to your original job or find a similar one).