After the enormous uprising in the Bitcoin prices there has been an entry of a new genre in the millionaires club “Crypto millionaire”. So who are these people, how did they achieve so much and did they do anything illegal? These are some of the common questions that arises in people’s mind when they hear about this new genre of millionaire’s and in some cases billionaire’s.
If you think these are perfect examples of overnight success stories your are definitely wrong. The reality is that these are just people who were and are still exploring game changing technologies.
Here are the 3 golden rules, which will help you to become a Crypto millionaire:
1. Avoid the criticism:
It’s not surprising these days to see old suited folks like James Dimon, Warren Buffet and other politicians taking a low blow at cryptocurrencies by saying it does not have any intrinsic value, it’s a Ponzi scheme blah blah blah...
But if you are smart enough to adapt to new trends you will be able to understand how the mechanism really works. It is important to avoid what the critics say because if you listen to them all you will be doing is supporting that criticism. So think with your head and listen to your feelings.
2. Identify the next big thing:
There are almost 37k + tokens on Ethereum in ICO stage, promising thousand different things. But if you won’t do your research you may end being scammed by them. So now the question how do you know in which one to invest shows up.
You have to find something new, something different than other projects. It is important to research their team, read their whitepaper and look if their project is already in the making or is it just the idea. Probably all of the serious teams have Github account, where they make updates on improving their program/project. Follow them on social media’s and then think if is it worth to invest or not.
3. Buy low and hold more:
Most of new coins/tokens usually start trading below $1. I have a very simple philosophy on the token market when it comes to generating returns, which is: “the more amount you hold, the more exponential returns you will get”. It is a simple logic. If you have 100$ of capital and you buy the coin/token at 0.01$ you’ll get 10000 of them, but if the price is 0.1$ you’ll get only 1000 of them.
Remember!! You must only listen to yourself, think with your head and do a good research. Then I believe you’ll make the big amounts of money.