🧘‍♂️Your Financial Freedom #111

Use your negotiation skills to earn a higher salary

Dear Meditators

Oftentimes, success is not due to the tools you have but rather, how you use them ✅

That’s the theme of today’s newsletter 🙏

We teach you how to use your negotiation skills to earn a higher salary 🚀 and, we guide you through interpreting news events in a way that improves your trading and investing 🌎

Read, enjoy and share with your network. Let’s all grow richer together.

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MARKET BRIEFING

  • Crypto. Bitcoin creeps back down below the $50k level today, as traders and investors anticipated comments from Chair of the U.S. Federal Reserve Jerome Powell. His comments impact dollar strength or weakness. Historically (and logically) bitcoin performs well when the dollar weakens. 

  • Legacy. Echoing the above, legacy market participants eagerly awaited Powell’s comments on bond yields today. Of particular interest is his comments on inflation and how far he is willing to go to fight it. 


We are extremely grateful for our partner 👉 Phemex. This collaboration makes our free content production possible 🙌 As well as receiving free bitcoin and discounts for signing up, Phemex have launched Crypto Asset Management 💰 Their savings accounts allow you to earn crypto passive income and as Warren Buffet famously said, ‘you want to find ways to make money while you sleep’.


MARKET MEDITATION 

PERSONAL FINANCE 101: How to Negotiate A Higher Salary

Helping our readers achieve financial freedom is a mission close to our hearts 💜 Contrary to common belief, you don’t need to become a trader or entrepreneur to achieve this. 

📍 In fact, you’re more likely to succeed outside of these professions… but we love the game.

I’ve hired dozens of employees over the last few years and you’d be amazed how easy it is to stand out.

1️⃣Give, give, give and then ask. Remember the best relationships are long-term and mutually beneficial. Focus entirely on how you can offer value. Your job is to convince the employer that:
a. You’ll make them more money than they’ll pay you and
b. You’re going to be great to work with.

For a. research the company beforehand, identify exactly how you will deliver value and tell them! Now b. is harder, not everyone gets along BUT if you focus on being positive and energetic you’ll be miles ahead of the game.

2️⃣Don’t go in blind. Check sites like Glassdoor, and career forums to get a gauge for the market. While each company is unique, you can get a good understanding of the range your role can offer.

3️⃣Move. If you believe you are making someone far more money than they are paying you, move elsewhere or start your own business! In this day and age, you have the freedom of the internet to pursue any and every venture you fancy.

📌 These tips are great ways to earn more but what should you do with that extra income?

Listen to this great podcast with 🎤 Venture Capital VP, Sahil Bloom to find out and stay tuned for more personal finance tips! 

Or perhaps you have considered NFTs? Let’s take a closer look 👇


📊 If you’re serious about earning more, consider joining our community and gaining access to the full range of insights and analysis 👇

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NFT NEWS & ANALYSIS

Kings of Leon Release New Album As A NFT

According to Rolling Stone, Kings of Leon will be the first band to release an album as a non-fungible token (NFT) 🎧 As AriPaul explains on a twitter thread, this unlocks ‘all sorts of game changing stuff’ for the music industry.

The Block reports that the group will release the album, titled "When You See Yourself," along with three types of tokens. The first type of token will be a special album package, the second will offer holders perks like front-row tickets for life, and the third will be for "audiovisual art." 🌎 Kings of Leon joins a growing group of professional musicians that are planning to release NFTs, including Portugal. The Man, Shawn Mendes and Grimes. 

✅ As well as revolutionising the music industry, this shows the increased adoption of NFTs. Transitioning from a relatively underground following to mainstream. As a trader and investor, you may well want to consider NFTs as an exciting addition to your portfolio. 

Does this industry still need to mature? Of course. Are some of the asset values over-inflated? Probably. There is a lot of hype right now: which creates over-inflation. However, this is true of any new and innovative industry 😎 We believe NFTs are a big theme that will shape the future: meaning, the real returns will be in the longer term.

💢 If this still sounds too risky, some investors and traders might be interested in an indirect investment in NFTs. This can be achieved through Ethereum. Because, the majority of NFTs are exchanged via Ethereum 🌐 exposure to the market can be achieved through exposure to the underlying platforms ✅

📣 For those who are up for getting involved in many cool projects and watching this industry maturity, check out our 👉 Introduction to NFTs 💠

We also just released a 👉 video guide on Ethereum and NFT Opportunities for 2021 📺

Now we’ve got a puzzle for you and a couple important points on crypto mining 👇


PUZZLE

Can you work out how to get to 16?

Scroll down for the answer👇


CRYPTO REGULATION

No More Crypto Tax?

Recently, the state of Kentucky in the United States has approved several state tax breaks 🏛️ Most importantly, they have approved House Bill 230, which proposes to remove the sales tax from electricity purchased by local crypto mining operators. 📰 As informed traders and investors in this industry, we know that one of the biggest sources of sell pressure in the crypto market, even during the most recent correction included miners selling their Bitcoin. Could this news remove that sell pressure? 📉

We know the bitcoin network consumes 💡massive amounts of computing power and energy, all at the cost of miners themselves. According to this article, the bill’s sponsor “urged that Kentucky needs to attract more cryptocurrency mining businesses by offering tax breaks on consumed electricity.” This tax break would incentivize more mining businesses 🏢 to open up shop in Kentucky, something that the state has expressed interest in attracting since January 2021. But how does this news impact my journey as a trader or investor? 💹

First, it’s important to understand that a tax break on mining does NOT mean that you no longer have to pay taxes as a trader or investor. Whilst we are not financial advisors, please do not assume that something has changed here. We have a whole section on crypto taxes in our newsletter No More Losses #105 that we encourage you to check out. 

The bill does, however, exempt commercial cryptocurrency miners from paying 6% sales taxes or excise taxes on their ⚡ electric bills and mining equipment. What this means is businesses in Kentucky are less likely to sell their coins in the short term to cover monthly expenses, which directly translates to less selling pressure on Bitcoin. This may be exactly what is needed to incentivize more people to start mining, which also pushes adoption of cryptocurrency as an industry forward. As an investor, both these things are bullish

Keep in mind ⚠️ that markets take time to react to bullish fundamentals and therefore do not always lead to short term bullish price movement. As positive as the news is for the space, responsible traders and investors should use this information as one piece of a greater puzzle when constructing their trading and investing plan relative to their time horizon and risk management strategy. If you’re unsure where to begin, we’ve put together a complete 👉 Risk Management Guide 📺 

Now, your profits are only as good as the security systems you have in place to protect them. Let’s talk about it 👇


ANSWER

12 / 3 + 4 + 8 = 16 Give yourself a pat on the back if you got it right! 


CRYPTO SECURITY

$31 Million Hack?

Meerkat Finance, a decentralized finance project, has just said it has been drained by $31 million worth-of crypto assets due to a hack 😮 On-chain data, however, tells a different story, showing that the hacker drained the funds by changing the Meerkat’s smart contract using the original deployer’s account. Could this be an inside job? 🚨 Either way, hacks such as this remind us responsible traders and investors that, especially in the burgeoning crypto industry, security and ownership of funds is YOUR responsibility. Want to make sure you’re covered? 🤔

One of the biggest differences between traditional finance 🏦 and crypto markets 📈 is that crypto puts the onus on you to take control of your finances. Did you send a transaction to a wrong 📫address by mistake? Did someone hack into your laptop 💻 and steal your coins? Unfortunately, the benefit of being your own bank can often do more harm than good if you ignore setting up proper security protocol 🔑

We recommend you do three things today:

By this point, you’ve probably seen enough text. We’d like to have a conversation with you about financial freedom. So sit back, relax and tune in to our podcast 👇


PODCAST

8 Tips to Achieve Financial Freedom with Koroush AK

CLICK HERE TO LISTEN 🎧

In this episode, we are going to examine 8 key points that can help you achieve financial freedom. Wealth is not a result of luck, but of applying consistent habits that we will break down for you.


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Disclaimer: The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision.