Michael Yagudaev, a tech entrepreneur and CEO of Nano3labs known for developing digital products, made a post on his Twitter handle, @_yagudaev, hours ago citing how difficult it is to live as an entrepreneur anywhere in the world. CEO Of Binance, Changpeng Zhao, weighed in on the issue, noting that the situation is even more difficult for crypto entrepreneurs.
<h2>Paying For Expenses Is Difficult As An Entrepreneur</h2>
Yagudaev noted that it is easier for an individual with a regular job who works 9 to 5 daily to explain their finances since they are paid weekly wages or salaries at the end of the month. For an entrepreneur who has to pay for accommodation and other expenses while managing a business, explaining how they earn their money becomes a significant challenge since the cash flow changes over time. The tech entrepreneur suggested that having a steady source of income to cater for the day-to-day expenses would help any entrepreneur when a period of low cash flow arises.

A Twitter user, @derrickgrigg, said he solved the issue of finance as an entrepreneur by creating a system where he gets paid a salary from his business so he can take care of his expenses.

https://twitter.com/derrickgrigg/status/1513653759372677127?t=d_ZIhe3X0d9JGOBHAHW9lg&amp;s=19
<h2>Life As A Cryptocurrency Earner</h2>
According to the CEO of <a href="https://www.cryptoknowmics.com/news/binance-to-open-office-in-rio-tweets-cz-zhao/">Binance</a>, entrepreneurs who depend on cryptocurrency for income find it more challenging to handle their expenses. This problem might result from the fluctuation and instability present in the crypto industry. One moment, the prices are up, and everyone is happy, and another moment, the prices are down. This is quite different from a person who is sure of their income at the end of the month, no matter how the financial market changes.

Most Users who responded to Zhao's tweet agreed with him, citing how the government's policies in different countries affect the income of crypto earners. Regulation and taxation have been a major problem in the crypto community as regulatory guidelines do not consider the volatility of cryptocurrency when enacting laws to ensure that earners of digital currencies pay tax on their income.

Presently, various countries have adopted cryptocurrency, with some already using Bitcoin as a means of exchange. The crypto community can only hope that the market becomes somewhat stable and policies are made to favor the industry.

Living As A Crypto Entrepreneur Is Not Easy, Says Binance CEO

The tech entrepreneur suggested that having a steady source of income to cater for the day-to-day expenses would help any entrepreneur when a period of low cash flow arises.

Prabhjeet Bhatla is a cryptocurrency writer covering startups and a researcher since 2020. She has authored many articles for Entrepreneur India and APAC (digital and print) on cryptocurrency and ever-evolving Blockchain, the technology behind Bitcoin, and other cryptocurrencies. She specializes in applied cryptography, privacy-enhanced information storage systems, anonymous cryptocurrencies, elliptic curve crypto-systems, and satellite television piracy.

Living As A Crypto Entrepreneur Is Not Easy, Says Binance CEO

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