Most of us aspire to be wealthy. Who does not? We all want to be wealthy and financially independent, but not everyone has a strong desire to do so. So, how can you get rich or become a billionaire in a simple method that anybody can accomplish? There are various alternatives available. One can, for example, play the lottery, marry a billionaire, inherit a fortune from parents, or invest in Bitcoin. We all know that the first three solutions are impractical. Of the four mentioned, the easiest and the most possible we can do as ordinary citizens are the last ones. Do you agree? Let us talk about why investing in Bitcoin can make you a millionaire.
Bitcoin is Risky. Period?
Isn’t investing, particularly in Bitcoin, risky? Yes, investing is risky if you do not know what you are doing. Those who become millionaires all make investments. They take a chance. Now, if you are hesitant to invest, it is as if you are terrified of becoming a billionaire. And if that is your attitude, you will be in the same state you have been in for a lifetime.
Many of these folks have become millionaires through the use of bitcoin. They are the ones that adjust first. They are the folks who took the risk of investing in bitcoin when no one knew what the future of bitcoin would be. However, these individuals did not consider the cost. They are interested in Bitcoin possibilities. The ordinary individual is oblivious to this because they are too preoccupied with the present. All they can see is what is occurring right now. They will make their decision based on what they see right now. However, they failed to recognize the promise of the future.
Even if the cryptocurrency market is volatile, this does not imply you should avoid investing in it. You must identify a technology or platform that has the potential to decrease risks. Choose a platform, like Bitcoin motion, with a well-designed gateway to help you reach your full potential and capitalize on the volatility of the bitcoin market.
Journey to becoming a millionaire
Forbes published a story about a man who made a fortune by investing in bitcoin. He did not want to expose his true identity, maybe for security concerns. So we will call him John. John is a software developer who works in Silicon Valley for a tech business. In July 2010, he learned about Bitcoin via a techie acquaintance. It piqued John’s interest due to its quick price growth over five days, from $ 0.008 to $ 0.08. Consider that bitcoin was still relatively inexpensive back then. For latest news visit: bitcoinevolution.co
However, John did not invest right away. Before investing, he researched the technology for a few months. John invested 3,000 USD in October 2010 since he can earn a lot of money as a software developer. What was the total amount of bitcoins he purchased? Only 20,000 BTC are available. It only cost $ 0.15 per bitcoin because the value was so low.
However, John has no intention of selling it immediately away. He is interested in seeing how high the price of bitcoin can go. His approach is long-term. John does not check the price of bitcoin regularly to see if it is rising or declining. But it is only after a few months that he looks at it. Because John was preoccupied with his work, he did not discover the bitcoin investment until three years later. It was almost as if he had forgotten about it. However, Bitcoin value had grown by this time in 2013. John is at a loss for what to do as the price rises by 10% every day. As a result, he chose to sell 2,000 bitcoins for $ 350 each (a whopping USD 700,000). Consider that John only made a $3,000 investment. He still has 18,000 BTC in his account. Bitcoin then reached $800 a few days later. Of course, John made a profit on his 2,000 BTC ($ 1,600,000). He made $ 2.3 million in a flash.
He has also resigned from his position. John attained his long-awaited goal of financial independence. He resigned from his job and went on a globe tour with his lover. Perhaps you are wondering what happened to the remainder of his bitcoin. The newspaper stated that he had already sold the others and that John’s total profit was $ 25 million. He got $ 25 million with a $ 3,000 investment. And he barely has 1,000 BTC remaining at the moment. John stated that he was waiting for bitcoin to hit $150,000 before selling it.
John is just one of the millennials who has made a million dollars thanks to bitcoin. There are many more out there, each with a unique story to tell. You might be asking right now, how to be like John? It all comes down to one crucial principle in investing: the willingness to take a risk. Some people are ready to incur financial risks in potential wealth pursuit, while others are not. It genuinely is a question of personal preference. It reminds us of Steve Harvey’s famous risk-taking quote. It goes like this. If you want to be successful, you have to jump. Your parachute will not immediately deploy after you jump. However, if you do not leap, your parachute will not deploy. You will never soar if you stay safe.
To Sum It Up
It is important to note that before beginning crypto trading, you should undertake an extensive personal study. Several aspects influence success in this profession, including the capacity to make reasonable judgments, undertake technical and fundamental analysis, and much more. Every market comes with its own set of risks. Generally, it comes down to whatever market you choose to take a chance on.
Whether or not to begin crypto trading is ultimately determined by an individual’s willingness to take a risk. Some people opt to take the risk of losing money to pursue future wealth, while others choose not to take the chance and continue with the status quo. It is a personal decision; thorough market research is essential before entering the crypto industry. Traders can go to crypto sites that have educational sources, like coindesk.