If you are reading this article; there is a high chance that your life has already been changed by cryptocurrency. This statement is amplified even further the longer that you have been investing into cryptocurrency, and of course by the amount that you have been investing into this market.
There are some coins that are better than others. Some coins that can help you reach your portfolio goals faster if you're lucky and pick the right one to invest in. There are also coins that may have gone up in price now, but won't be a good choice for the future; as they won't hold onto their value.
The simple point is that if you're reading this and have accumulated a decent amount of crypto; then also continue to HODL and also continue to add more to your position. By doing just these things; this will put you in a very good position to change your life; and become rich. Or perhaps not rich, but to have life changing gains that could drastically make an impact on your life. It happens every generation, and I believe that those of us who took large risks by getting into cryptocurrency will be the ones who reap the rewards. At times it might not feel like it; but you are ahead of many others; and still early. Although; we are now transitioning from the incredibly early stage; to the moderate early range. It isn't too late. The greatest transfer of wealth the world will have ever seen, is just starting to begin. The only question is; are you ready for it to happen?
Remember; life changing gains are merely an amount that would have a significant impact on your life. What may be life changing for you, may not be for the next person, and vice-versa.
For example; let's talk about my favorite coin for a moment; bitcoin. With bitcoin; the idea for a long time was that in order to be able to become rich, to have financial freedom, all you needed to do was to accumulate 1 full bitcoin. And to an extent that still remains true. If you accumulate 1 full bitcoin and hold it; in the future it's value will grow enough for one to become rich most likely. Heck, for many people having one full bitcoin at the current moment would be life-changing for most people. $50,000 is a lot of money. The real question is if it is possible to have life changing wealth from owning just a small percentage of bitcoin. The answer to that question is yes!
Let's be honest; owning just 0.005 BTC most likely won't be enough to make you rich, or maybe not even equal to a life changing amount. But if bitcoin goes to the places that many people think it will. It could actually become quite a sizable amount. If bitcoin were to go to one million dollars in price, that small amount of 0.005 would grow to be $5,000. If you were to be able to accumulate 0.05 BTC, in the future I think that could be a life changing amount for many people. What may not seem like very much today, could grow into something much more in the future.
But, how about Ethereum? The idea was that the goal was always to strive towards owning 32 ETH. This would be enough to run your own staking validator and hopefully be able to live off the passive income from that in the future. While I fully believe owning 32 ETH will make you rich someday, for most people that amount is far out of their reach and unattainable. So how much ETH do you need for life changing wealth? If you were to own more than five ETH, that would put you in an amazing position. Add in the fact that you can stake that ETH on exchanges, which will also give you a chance to earn an extra passive income. Whatever coin I am investing in, I am always looking at ways to get even more value out of my assets. That usually involves lending my btc, and staking my ethereum. Always remember that the amount you're receiving in interest today might not seem like a lot, but if these coins were to do a 10x, or even 20x; that return could become quite amazing.
Finally let's talk about one of my other favorite coins; Polkadot. There has never been a clear accumulation amount that has been recommend to strive towards. While personally I believe that if you're able to accumulate anywhere from 100-200 DOT; that would put you in an incredible position in the future. Especially when you take into account the great interest rate that staking DOT provides. But just like the other examples above; this too is already a lot of money. I think that 50 DOT would be a much more manageable amount that the regular person could strive towards that will become something much bigger in the future.
While this isn't financial advice; I truly believe that we are on the verge of a great transfer of wealth in the world. This wealth transfer will be caused by cryptocurrency. And those without crypto, will be left out in the wind.
My goal/objective is to find the coins that I strongly believe in the most. Bitcoin, ethereum and polkadot. Find coins that have enormous potential, but are relatively safe as well. Then, go all-in!
There will be big price drops, and even bear markets. During these times; go even harder into these markets. The way I view it is that it's like adding more and more weight to a spring, and continuing pushing it further down. Eventually you will take that weight off the spring and it will explode upwards. That is exactly what will happen to your portfolio. You will then be able to reap all the benefits from your hard work and efforts.
But how about you!? Are you striving to become rich from cryptocurrency, or trying for life-changing gains? What is your plan to achieve those goals?
As always, thank you for reading!
Deep analysis 👍