How You Can Become A Millionaire In Crypto
How You Can Become A Millionaire In Crypto
A friend made a great statement about the future of wealth that got me thinking. Many never took him seriously, but I know what he meant.
Here is what he said that you should pay attention to. He said, here is how different industries and the market had created millionaires.
It started with the agriculture industry where those that have cash crop farms become very rich. But when time passed, the trend faded.
Then what followed in places like Nigeria was the oil business. This business created many millionaires, some are still millionaires today. Then came the gold rush, where those that have gold become millionaires.
The new trend is technology. But to be very specific, Cryptocurrency is the new gold rush. It is likely creating millionaires faster than any other invention in human history.
I have been saying that Cryptocurrency is more than a business, it’s rather a disruptive technology. Those that embrace it early will reap the first-mover advantages.
The goal of this article is very clear. It is to show you how you can also make your millions in crypto. That way is the Trenndify way. Are you excited already? Now let’s get started.
The Trenndify Blueprint To Make Millions In Crypto
What works always ends up becoming a blueprint or a template. During my research for this article, I discovered a thread on Twitter. The thread asked this question; what is the one word to be rich. The responses were mind-blowing, but it is similar to what I will be sharing.
Compounding is an investment principle that means the multiplicative growth of an asset. It is like planting a seed and harvesting hundreds in return. In crypto, your investment has the potential to compound 10X and even 1000x. This is due to the speed in the adoption of crypto innovations by institutional investors and the growth of the crypto industry.
But, it is not all crypto projects that have compounding potential. The risk is very high, as there is a 100% chance that the project may not succeed. But, good projects like Solana(SOL), Avalanche (AVAX), Axie Infinity Shard (AXS) will always succeed.
Here is the secret.
In investing, a portfolio is a term used to mean a collection of investment vehicles like a basket containing different fruits. So, in crypto, a portfolio is a collection of different crypto assets with the goal of growth.
How do you know the digital assets to include in your crypto portfolio? How do we know the ones that will compound in value after sometimes?
Trenndify uses a tool called the 7G indicators to research and build portfolios for its clients. The 7G indicator helps you to research great coins from shit coins on Coinmarketcap and those not on Coinmarketcap.
Imagine, you have a crypto portfolio worth $10000 and in 1 year it grows to $1000, 000. What do you call that, it is the compounding nature of crypto.
This was exactly what happened to Solana (SOL) investors and holders.
After that, you need a set of skills to manage the portfolio. They are explained in the next session.
Crypto Essential Skills
It is good to hold crypto assets or digital assets but it is better to hold crypto assets with certain skills. Here are the basics skills you need to develop.
- Knowledge Skill: You certainly need to know how to use your wallet and manage your crypto assets. You need to know how to protect your passphrases; you might share them with an untrusted fellow.
- Timing Skill: Holding digital assets or crypto assets is a business of time as investing is time in the market. So, you need to know two things, the time to enter the market and the time to exit the investment.
- Patience: While the patient dogs eat the fastest bones, the greedy dogs eat no bones. You need to be patient and don’t be emotionally glued to the market.
Here is an analysis of how to make decisions based on market phases.
The market is volatile but over time your investment will compound and not overnight.
But when it does grow, don’t allow greed to keep you longer in the market, the negative side of volatility is loss-making.
Trenndify believes the above three areas form the basic template and blueprint for making your millions in crypto. It is faster to become a millionaire in this age than it was decades ago.
With Cryptocurrency, the possibility has become a reality. What a generation and a moment to be alive and be active.
Originally published at Trenndify and authored by Progress Ibrahim