How to be a millionaire in crypto with its current state

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So you are interested in becoming a millionaire with crypto? It’s a good thing and it is very possible. The information here can make you a millionaire in a few years. But first, you need to learn how to keep your emotions in check. There are two major emotions that drowns success. The first is fear, the second is greed. Any of them can ruin you. You must set your eyes firm always. This is important if you’re going to make millions in crypto.

I do not consider myself a crypto expert. Have I made a lot of money like that in crypto? No (I was late to the buy-and-hold party), but I’m certain I will. I can’t advise others and not put to work what I know. I have not come to load you with insider tips or smart predictions. All I have are fundamentals to build upon. The principles here are instruments that can make you rich and stay rich. It’s about building a sustainable portfolio in the crypto ecosystem. This is about building wealth.

In 2011, to become wealthy would be to buy bitcoin and hold it up till now (or 2017 at least). Now, it’s a little too late for that narrative. Not that bitcoin cannot climb to $50k like the predictions say, but what if it doesn’t. $10k is already a milestone, and I expect it to go further but I don’t depend on it going further. That is because investing prices risk. Gambling hopes.

Today, the crypto world is creating it’s own financial ecosystem and it’s still in its infancy. The key to become wealthy in crypto now is not to buy and hold, rather it is to diversify and thrive. What does that mean? It means to create a sound investment portfolio in the crypto world that produces for you and keeps on driving itself with the progress of the ecosystem. The answer here is a healthy and balanced investment portfolio within the crypto ecosystem. Is that possible as of now? Yes!

Before we go on, there is a critical instruction you must adhere to. Have wallets in (at least) 4 different places. You can start with 2 and as you deal with more money, open more wallets in other platforms and spread your holdings properly. This is very important

The following are the categories where you should spread your investments. The real deal here is the percentage you allocate each category. I will not be giving a percentage, you should work that out yourself. But I strongly advise that the low risk areas should outweigh the high risk and also there should be a bull/bear balance within the portfolio. You can be optimistic but don’t be naive. Remember, time is the real money. Here are the categories:

Mining (low risk, long term, passive income, thrives in a bull market)

Trading (medium risk, short term, capital gains, thrives in bull market)

Highly Speculative Tokens (high risk, medium term, capital gains, thrives in a bull market)

Platform Coins (Low risk, long term, capital gains, thrives in a bull market)

Fixed Value Tokens (low risk, long term, no gains, useful in a bear market)

From ICO to exchange (low risk, short term, capital gains, thrives in a flat market)

Shorting Crypto (high risk, short term, capital gains, thrives in a bear market)

In closing:

  • Do your own research
  • Diversify your investment and thrive
  • You have not made profits or losses until you sell
  • Your low risk holdings must outweigh your high risk holdings
  • All 3 financial market scenarios must be accounted for: bull, bear and flat

The bottom line here is that you can walk your way to wealth in the crypto world while you sleep well at night. Gambling may make you money but investing will make you wealthy.

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Inspiring and educating people about money, entrepreneurship, investing, and mindset. | For writers → amazon.com/dp/B08P2F2BPH | Others → davidolarinoye.com

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