Being a digital nomad and living in a country like Thailand can be a dream come true, but even though Thailand is a cheaper country to live in, it still costs money.
Depending on your style of income stream, trading in Crypto currencies can be an alternative way to inflate your wallet.
The market for BTC Bitcoin, ETH Etherum and other currencies is hot right now, and if your living in Thailand with a local bank account Buying bitcoin in Thailand could not be easier.
Visiting a Thai based bitcoin trading websites like bx.in.th is a great way to get started with your investment portfolio.
Once you have your Thai based bank account, register on bx.in.th and link your bank account. From there, using their secure 2 factor authentication you can be safe in knowing your account is secure.
How much you buy and sell is all up to you. As a newbie, starting with a small investment to test out the site is always advised. Keep a track of what your investment is doing.
It doesn’t matter if you have based yourself in Bangkok, Chiang Mai, Pattaya or Phuket, you can do this all from your mobile phone or laptop.
How about teaching English in one of the schools and subsidising your income with some bitcoin trading?
When the price goes up, consider selling your profits to pay for things locally, transfering the profits to your Thai bank account for cash.
When the market drops, invest more if you have it available, because when the market increases again, which it does, your profits will be double.
There are many shop and business’s in Thailand now accepting Bitcoin, in large places like Bangkok through to a small pizza shop, Wize Guy Pizzeria in Ban Pong Ratchaburi.
This means that if you want to use your currency wallet to spend directly instead of converting to Thai Baht, your ability to do it with ease is available.
I personally have not done a lot of stock trading, well to be honest none at all, I have invested money previously but being the stock market I had a broker take care of it all.
The major difference now with cyrpto currencies is you are 100% in control of what you buy and sell, yes you are paying a small comission to the website you are using, but the buy and sell is instantanious and all controlled by you.
Simply put, you do not need $10’000 to get started you can start with as little as you feel comfortable with, but remember that the more you invest the higher the profits are, but also higher the risk is if you lose.
With that said, the most important lesson I have ever learnt is this; you only lose if you sell below your purchase price, so if the market starts to drop, don’t panic, stick with it and wait for it to rise again to at least what you paid for it, then there is no loss.