It took me nine years to become a crypto millionaire what I like to do is kind of like educating people and shortening their process based on the number of mistakes I made, it can definitely be done in a year if you understand what you are doing the first thing I see people do who are newer to crypto and have been in less than four years to make mistake after mistake drains our portfolio is a self-taught crypto millionaire crypto catch-up author and host.
He is going to share the top three tips and tricks on how you can become a cryptocurrency millionaire in a year without further ado bit boy crypto.
How did you succeed to become a crypto millionaire ?
I went from zero to a hundred kinds of fast maybe not really fast but a little fast I was like my biggest Flex here what I’m going to say is my second decade in crypto.
I’m now in my second decade of being in the crypto world and that doesn’t mean that I bought Bitcoin early and I got rich and I’m sitting on an island it means that you know it took me nine years it took me nine years to become a crypto millionaire,I made a lot of mistakes, I lost all my money twice in the world of crypto , you know how to sell and go up gox, then later in 2017 going up, then going back down to the very bottom in 2018.
So, I kind of did everything, you know, I am now doing very well financially and I am able to invest technically, I think I am probably an accredited investor by the archaic and accredited investor laws that we have in this country.
But like I’m here now but I was also where everyone else was, you know, just an ordinary guy, I have a family, you know, I have three children, I was living paycheck to paycheck, I fell into this whole world and you know, in my opinion, it’s kind of like taking every step of the way.
You know how it should probably be done by an ordinary person which gives me the opportunity to talk and communicate with people, you know, but wherever you are in your crypto journey so you did it in nine years do you think it’s possible to do it in one yes, I mean the reality is even if it took me nine years like it was really eighth to ninth grade, you know they are really where I earned all my money.
And basically what I like to do is kind of like educate people and shorten their process based on the number of mistakes I made because if I would have made mistakes if I wouldn’t have made any mistakes, it would have taken me a year to become a crypto millionaire if I had taken all my money, I bought Bitcoin to spend it on software for a company I ran.
So if instead of doing that, if I had just bought the Bitcoin and kept it then I would have been a millionaire in about a year the price went from you know twelve dollars until I can’t remember where it peaked, I think I sold mine for about three hundred dollars,so it was about 30 shares where I bought it my first purchase of Bitcoin was 450 for 37 Bitcoin so about 12 dollars a piece.
If I would have just sat on it at the top of the bull run this last time, that alone would have been worth, you know, three million dollars.
So the point is, if you fast-forward 2017, I entered, I had a full time in crypto, I guess it’s all in crypto a little too late inside the Race,in 2017 for the first half of the year, I was looking at Bitcoin like I think the price is going up a little like maybe this thing is not over because I thought Mount gox had killed Bitcoin.
You know in 2014, I made so many mistakes that I should have made more, but in the second half of 2017, when the price started to skyrocket, I was like I had to jump all the way in.
Now if I had had the education, here’s the important thing that people didn’t understand if I had had the education and understood what I was investing in, I could have been a millionaire like five or six different years alone like I could have said 2016, I could have become a millionaire in 2017.
You know, 2020/2012/2013, it could have been so easy for me, but I made it difficult for myself because I didn’t understand and also the educational resources weren’t really available then as they are now, I remember in 2013 I was trying to look up what bitcoin is, I was like who is this Japanese guy and why does he have all these miners on his property as if I didn’t even understand it.
So I think really, it can definitely be done in a year if you understand what you are doing, the problem is that too many people come, they just start throwing money at the ticker symbols because this guy said it was popular and they didn’t really do the research themselves to understand what the difference is to invest in some like shib or Sheba, then invest in something like ethereum or cardano.
There is a drastic difference, but people kind of look at them the same way when they are not educated and I know everyone wants you to know quick tips and tricks to become a millionaire, I think one thing everyone should do is follow bit boy, follow altcoin daily for exposure and continuous information, because it’s really going to come with more complex understanding so make sure you follow bit boy make sure you follow altcoin every day, but that being said, Benjamin, let’s be practical, let’s be achievable.
What tips and tricks do you have for someone who wants who is hungry, number one as I said, get an education as we will just it’s just a standard that you have to do number two.
You know it’s very simple but it defies the logic of psychology that goes into a market Buy in the red sell in the green and it’s amazing, no matter how many times I hear this myself, we have some examples of wallets, an example of a wallet of one thousand five thousand ten thousand twenty-five thousand dollars, we have real money in them.
But maybe one thing that’s really interesting is that about six weeks ago I was in Boston for our crypto book catch-up tour and I was at crypto lifers house, so I went to his house and I made my portfolio video and that was the day when Bitcoin was like skyrocketing like stuff flying like ICP, was killing it optimism was killing it like all these coins were killing it Bitcoin was like about 25,000 it was going great and man it felt good for the first time since we built these strategies or these others in August, they were all in the green and I was like man that’s great.
We’re crushing it feels good let’s wait to do something next week and then the next week comes and I said you know when I was feeling good, that’s when we should have sold like when I was feeling good about the location of the portfolio, that’s when I should have said okay let’s take profits so two weeks later.
What is happening is the same thing, a lot of projects are increasing in price and I say that you know what even if it seems that this pump will continue here, we will take profits on many of our coins as ICP was one that, as I think, we were up two or three times on our money and so as we sold 25 of our portfolio, and we bought filecoin and we bought conflux with it conflux is up 100 since we bought it.
So it’s this constant game of lily padding like jumping from this game to this coin that’s in the red and then when you go back into the winnings, jump back and start over, I think it’s really a good strategy for people, it’s the only way to take a set amount of money and turn it into the maximum amount if you just didn’t hold back,you’re going to make money in the history of crypto you’ve shown that over time, if you’ve been in a crypt for more than four years.
You will do well, that’s what the statistics show, it’s not guaranteed that it will continue in the future, but that’s history, so with all that being said, you know you can’t hold on or snuggle as they say, but if you sell in the green and buy in the red throughout the cycle, that’s when in my opinion youwill have the best chance of succeeding in becoming a millionaire.
It seems simple, but as you said, human psychology, many people you know miss this simple thing,and it’s hard to do because obviously it’s hard for us to do it even if we know it.
Here is another good strategy in my opinion the to really make money to become a millionaire you really have to have good choices you have to have probably depends on how much you start with a hundred thousand you should be able to get there ,you start with ten thousand you are going to have to have some kind of falling stuff and break all the way through the race where you will have to have like a coin like Solana is not a great way to put money now, I think, but you know we were talking about Solana when it was a dollar up to 250.
We are cardano that we were talking about when it was two cents, it went up to three dollars, as these are easy wins that will be able to crush your wallet, but one of the things that people have to keep in mind when trying to become a millionaire is not necessarily how do you add, but how do you prevent your losses because it’s really important .
The first thing I see people do who are newer to crypto who have been around for less than four years who make mistake after mistake drains our wallet says to yourself, I’m just going to move to the stables right now, like Bitcoin is falling, I’m going to move to the Stables, I’m going to move to the usdc, then Bitcoin will continue to fall, then I’ll put the money down the road.
It is a bear market strategy it is a good strategy if you sell Bitcoin again in the green at the top of a market or in the 20 to 30% from the top towards the stables and you move it up to the bottom, you can really improve your Bitcoin holdings.
I’m talking more at the micro level up to where as you know this big thing happened in China where they talked about a Bitcoin ban man, let’s go ahead and sell to the stables, at the moment when the news comes on the market a lot of times and people start to have this idea of like it’s going to go down a lot ,like I need to move to the Stables it’s the best way to lose I saw it above I made this mistake.
You know several years ago 2017,2018 I made this mistake all the time the last Market I really didn’t do that because I learned this lesson what will happen is let’s say the price of Bitcoins at forty thousand dollars and you see there is this huge evil, the news that comes out on this ETF or on China, like let me go ahead and take this Bitcoin and move it to forty thousand dollar stables and you hope that the price will go down to 30 or 35 and you can redeem what is happening is the news is like a delayed indicator a lot of times.
It’s already moved in that direction because some people, some of the big players probably knew that this stuff was already cooked and what happens is that you end up moving stables on bitcoin to forty thousand dollars and the price goes to 50.
Instead of making money on the price of moving Bitcoin, you just lost 20 of your Bitcoin holdings with the same amount, so I would say that these are two principles that I really think people need to take into account:
Number one is to buy the big one or buy the red one sell the green one,number two be very careful moving your money to Stables thinking that you are smarter than the rest of the market.
Does your strategy change at the beginning compared to when you are approaching the million, for example, is there a difference in what you do at the very beginning compared to when you are approaching the million or is it exactly the same ?
It’s a great question I don’t think you look like you’re a millionaire, it’s cool how I can’t move forward like,I’m not going to flex on all of you and be like I’d like to be a you know a 70,000 error like no,how I like being a millionaire multimillionaire it’s nice how it feels good it’s years and years of validation and validated work, which brought me here and so there’s a lot of cool stuff about it, but the difference between having nine hundred and fifty thousand dollars and a million and fifty thousand dollars is not so radically different.
So for me, if once you reach the million dollars, if you change your strategy, you don’t really do it right, you should always look to maximize your gains and minimize your losses, I think in the world of Bitcoin, it’s very interesting because the way Cycles work well as generally what we do should look and you know that the bear market is well understood, no pun intended.
There is a year of bearish action that is last year, a year of some kind of slight upward sideways action that is this year and then next year about halfway through the year, we should finally start to see the things that you know become parabolic in 2025.
The price of Bitcoin should be really very high, you have to operate according to this schedule, you don’t need to operate against where your money is at that time if you send 200,000 and we are halfway through 2025, you are probably not going to get to a million at this point just with the way time and Cycles work, you just have to know that the most important part is to know where you put your money during the different parts of the cycle, as it changes a lot.
So right now, we’re just entering the second quarter and the third quarter of this year, some big hedge fund venture capitalists have told me that the second quarter and the third quarter are the ones where you can look to make your best investments in altcoin, that’s when you’re looking like okay, we know that cardano is going to win, we know that xrp is going to win as long as they win the deal, so we know that the rise in Ethereum tokens is phenomenal, we know that Bitcoin is going to rise as we know that we generally know those on the best coins.
So I’ve really encouraged people over the last year to really stack up on these top coins and now it’s time to start looking a little lower at the market capitalization of the coins, and look at some of the niches that will have big winners, so Layer two on the right, we know the arbitrariness, we know the optimism, we know polygon they’re going to do very well.
You know you’re looking at a part of the AI niche that you’re looking at Singularity agix,you’re looking at some of these other coins that you know you’re looking for dot AI maybe GRT there are some really good ones out there too and so you start looking a little further down in these niches and maybe find coins that you haven’t necessarily heard of that you can research and find other winners in these niches.
It’s time to start doing quarters two and three of this year so I think it’s really your strategy that should change depending on your situation in the cycle and not depending on how much money you have you know like me I think I had a million dollars in my wallet for the first time on New Year’s Eve 2020.
You know, we had almost everything of 2021 to really get there and it happened quickly the way it happened, it had only been about three months since I turned, you know I was probably sitting there, I bought a house and I think I was probably around $150,000 in crypto at that time and in three months, $150 turned into a million, so you just have to understand where you are in the cycle and you have to understand when to take profits in the cycle when to accumulate in the cycle and then what type of coins to accumulate depending on where you are at.
Conclusion :
The crypto world is crazy there are a lot of interesting things happening on a daily basis and right now the thing we are all looking at is these bank failures and the insolvency of banks and and I really think about it when you are thinking about trying to become a millionaire like that, it’s great, like everyone in their heart wants to be in a place where you are doing well financially.
You know, unless you know someone who just wants to have no money, there are some people out there like that, but when it comes to banks and insolvencies, that’s when you really start to see that crypto is about more than just making money.
You know it’s really about protecting yourself and your family for the future and when you realize like yes, all banks are insolvent and that’s actually their business plan, you can learn how to start withdrawing from this system,one thing I went through a signature bank was my bank actually.
You know different transactions with crypto, you know coinbase wire and in 2020, buying a house is actually what BB T used to close my bank accounts and so I’ve been looking for a way to withdraw from the banking system and I think with the last two weeks have shown that crypto is great you can make money with crypto, but it’s about more than that and it’s about can you actually move and withdraw from an archaic system broken passionately.
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