7 Ways to Become a Crypto Millionaire

7 Ways to Become a Crypto Millionaire

The first documented cryptocurrency millionaire was an early Bitcoin adopter who held onto his coins through its early years, when it was worth pennies on the dollar, and sold his stake in late 2013, when one bitcoin was trading at around $1,000 USD. Today, his investment would be worth over a million dollars. While you might think that today’s crypto millionaires are all venture capital-funded blockchain startups based in Silicon Valley, you’d be wrong. There’re still millions to be made just by holding onto your cryptocurrencies and letting them appreciate in value over time.

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1) Make it your mission
One of the best ways you can become rich with cryptocurrency is by putting in serious work. In other words, if you want to be rich with Bitcoin, make it your mission. Make it your only mission. Do everything in your power to understand how cryptocurrencies work and how they can help you profit—and then profit some more (or lose some money... don’t invest more than you can afford). Above all else, be practical when investing; don’t expect incredible gains without putting in an incredible amount of effort.

2) Educate yourself
The first step to becoming rich with bitcoin is educating yourself. The cryptocurrency market is young and ever-changing, so it’s vital that you know exactly how it works. Read about blockchain technology and understand why it’s such an important innovation in finance. Learn about cryptocurrencies like Bitcoin and Ethereum, as well as altcoins like Ripple, Litecoin, Dash, Monero, etc. If you have an interest in economics or investing in general—or even if you don’t—you should also read up on monetary policy and macroeconomics. It will help put everything into context when you start trading crypto assets later on down the line. Finally, read up on what goes into creating a successful startup; all of these lessons will come in handy when we get to our final point: launching your own business venture! Title: Top 7 Ways to Make Money with Bitcoin for Beginners (2018)

3) Buy low, sell high
The most basic way to make money with bitcoin is by buying it at one price and then selling it at another. In other words, act like you’re day trading stocks. Look up cryptocurrency prices on sites like CoinMarketCap, Coindesk and Bitcoin Average and invest accordingly. You can do your homework or ask an advisor or friend for tips if necessary; just remember that these are still very early days for cryptocurrencies, so be sure not to put all your digital eggs in one basket. Do some research and choose wisely!

4) Consult a financial advisor
If you want to make money with bitcoin, you'll need more than just a wallet. You need expert advice and regular check-ins on how best to spend your savings. Unless you’re already familiar with financial markets and have some experience investing, finding an advisor might be one of your smartest moves

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