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How To Become Rich In Crypto Today

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Written by   318
2 months ago

If you are investing in cryptocurrency, it is likely that we share the same goal. We all hope to eventually escape from the rat race, and take back control of our own lives. We are hoping to obtain financial freedom. Each person may have their own personal view of what financial freedom would mean for them. Perhaps it would mean finally being able to pay off all of your bills and escape from debt. Or maybe it would be to no longer live from paycheck to paycheck and have a bit of a financial cushion. For others, it may mean no longer needing to work and potentially being able to retire early. Whichever goal you have, it is all possible with crypto.

But the answer for how to make this dream a reality may surprise you and be much more simple than you make think.

Most will assume that you need to already have a lot of money to invest in the market or be an incredible trader to make this happen. I won’t lie, both of those would make this process a lot easier and faster, but aren’t necessary.

A different assumption will be that we need to find the next hyped cryptocurrency and invest in it before it goes up in price by 1,000x. Again, this would be very helpful and possibly make you rich overnight, but not necessary. In fact, I would argue that this is one of the most dangerous strategies out there. Being exactly the same as putting all of your money in the lottery and hoping to get a jackpot. It could happen, but most of us aren’t that lucky. Instead, the odds are that we would end up putting our money into coins that trend to zero over time.

When it comes to investing, often the best ways to become rich and grow wealth are the most boring ways. In the stock world, one of the surest ways to grow wealth over the last several decades has been to put money each paycheck into the S&P index funds that take an average of the market. Most of us aren’t skilled enough to choose individual stocks that will perform incredibly well. In fact, these funds often outperform even some of the best traders. While investing in crypto is arguably much more exciting than investing in stocks, and definitely much more volatile. The reality is that becoming rich in crypto should be just as boring.

Here is the secret to growing your wealth with cryptocurrency. While many will say that you need to find the next hot altcoin, the truth is that all you need to do is buy Bitcoin and Ethereum. It’s as simple as that. The cryptocurrency’s market adoption rate is often compared to the adoption path that the internet had. On that same scale, we are incredibly early in the cryptocurrencies lifespan. Similar to what the internet was in the year 2000. That is where we are in Bitcoin and crypto’s life. When we are so early in the market it means two things.

(The Early 2000s internet)

1)

The first thing is that the market has unimaginable potential. If we are only in the “the year 2000” when compared to the internet, that should give you a general idea of how much more adoption we could see. Think about your friends, family, and everyone you know. Chances are a majority don’t use crypto, and even more, know extremely little about it. Today everyone uses the internet, and there will be a time when the same can be said about crypto. What this means is that prices in crypto are still at bargain levels. With Bitcoin at $20k, and Ethereum at $1.6K, that is a sentence that may sound false. After all, not many people have enough extra cash to buy a full coin of either option. The great thing is that you don’t need to buy a full coin initially. You can buy small percentages of Bitcoin and Ethereum, and keep stacking until you eventually accumulate a full coin. Once the crypto market has reached mainstream adoption, it is likely that Bitcoin and Ethereum will have done a 50 to 100x increase in price. Buying now could make you rich within a long enough time frame.

2)

The second thing is that because we are so early in crypto, it also means it is a dangerous time to be investing. There are no guarantees on which coins will be successful and stay around for the long term. Meme coins that were born out of greed will most certainly go to zero. Other cryptocurrencies will have great promises and ambitions but eventually fade away as well. It will be similar to the dot com crash in the early 2000s. Many internet companies crashed and burned during that time, but others such as Amazon survived and became heavyweights in the industry. However, there is a general consensus that out of all the cryptocurrencies out there, Bitcoin and Ethereum have the best chance to stand the test of time. Don’t try to overthink the market and buy coins that won’t have value in the future. Just stick to the blue chips and accumulate as much as you can.

It’s hard to imagine a world where Bitcoin could be priced at several millions of dollars and Ethereum at hundreds of thousands of dollars. But, it’s a future that I’m becoming more convinced by the day, will be a reality. Those who accumulate as much as they possibly can today will eventually be rewarded, and possibly become rich. It isn’t too late, we are all still early.

How about you? What are you doing in crypto to become rich?

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Written by   318
2 months ago
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Comments

Just staying the course for right now as I alluded to in my last comment. I sure hope you are right.

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1 month ago

it also means it is a dangerous time to be investing. this is true also have in mind that investing now can be of profit or lost Great article

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2 months ago