Driving Uber vs Trading Crypto
I started to drive for Uber for extra money in July. It is interesting to see where your rides will take you. It is easy; a heck of a lot easier than teaching people how to drive (I say that because I used to teach driving and was recognized as Canada’s youngest driving instructor in 1986). I believe I am providing a safer drive and exceptional service. In return, Uber always pays on time.
After 3 months of part time Ubering, I am worried that I am way underpaid. My ’earnings’ as Uber puts it, includes 13% tax here in Canada. That is after Uber takes their 25%, and before income tax. If I take all the other expenses into consideration, well, let’s just say I don’t really want to tell my most loving husband.
Steemit got me interested in crypto! I made gains with Etherium in July, and also dabbled in Litecoin.
During that huge ‘sell-off’ in September, I sold my Litecoin and lost $60.00. Now I know that isn’t a lot of money to most, but who likes to lose money?
The next day, I spent most of the morning buying and selling at 2%-3% gains until I recovered my $60.00. That is when I understood I could still earn during a down turn. Hmmm, maybe I would like to day trade cryptos rather than Uber. Less expenses for sure.
The Risks
Yes there are risks, but I am cautious, albeit a newbie. There are risks with Uber too; I remember one Saturday in September driving home disappointed that I only ’earned’ $8.00 after 5.5 hours driving.
Skill Set
I didn’t have any trouble watching the charts for half a day when I eventually recovered my losses. (Probably would be different if I watched myself losing.) Youtube is a great resource, and working with small amounts is great experience.
Perhaps I will only Uber on my way to work, that would at least off-set the cost of gas, however, it does still require extra time bookkeeping.
So, what do you think? I’m thinking of starting off with $500 to $ 1000.00 and trade cryptos, with the expectation of earning $60/day as a part time job.
Any advice will surely be appreciated!
Hello @susieisms
That's really nice to know that you had learned to drive at a young age. As for me I'll forget about driving haha. They require a pee analysis before I get a license.
Anyway, if you enjoy driving then why not and regarding trading cryptos, you said that you gained back what you lost. I think you are doing great in trading..
Driving Uber is a more social way to make money... otherwise you'll just be staring at a computer screen. I would figure by the fun factor, Uber might win. @ironshield
you make a good point - I do meet a lot of interesting people.