How to Achieve Financial Independence using Cryptocurrencies

0
255

There are many great opportunities to make a living with digital currencies. The industry has experienced rapid growth, which can be compared to the Internet in the 90s. Many investors with the determination to build online businesses have made a fortune using digital currencies and other digital assets. 

The financial entry barrier to start investing in cryptocurrencies is lower compared to other industries. Digital currencies empower investors by giving them full control of their money. This fact has left many asking, is Bitcoin a good investment now? Many have made millions investing in Bitcoin and other cryptocurrencies, and it’s possible for anyone with the right strategy. 

That said, it is your responsibility to conduct due diligence before you begin investing in 

cryptocurrency. 

19-Year-Old Millionaire Investor’s Advice 

Erik Finman, a young Bitcoin Millionaire, asked investors to “find what they are good at, and find a way to make a living out of it.” It has been reported in the past that Finman owns at least 400 Bitcoins currently valued at around $4.2 million. The teenager began investing in Bitcoin back in 2011 and attributes his interest in Cryptocurrencies to his political interests. 

The millionaire is hopeful about the prospects of BTC and other cryptocurrencies and urges people interested in the assets not to waste time hoping, but start getting their hands on some coins. 

Other interesting success stories

Another young person that has benefited from cryptocurrencies is Jeremy Gardner. The 25-year-old rakish investor has even built a crypto castle with his wealth. He owns a hedge fund and is serving as an inspiration to many. 

Gardner specializes in Initial Coin Offerings (ICOs), which help companies raise funds by creating digital tokens. He was behind the Augur ICO that raised over $5 million back in 2018. Currently, the token trades for $13 with a market cap of around $146 million. 

Grant Hammer is another beneficiary of cryptocurrencies. He is the founder of the San Francisco Ethereum Meetup. Recently he stated that his co-founder committed $40 million of their own crypto-made money to their new $100 million hedge fund, Chromatic Capital.  

However, Hammer was a bit scared because of the increased cryptocurrency volatility, and it reached a point he didn’t care anymore. He almost lost $1 million in one day, but he was okay with it. Today he has millions of dollars in crypto wealth thanks to his hodling philosophy. He tells crypto investors to HODL when everyone has FUD. 

Roger Ver is another success story. He is well known within crypto circles thanks to his early involvement and contribution that saw him dubbed the crypto Jesus. He became a cryptocurrency millionaire after investing in Bitcoin-related start-ups. Ver has continued to use this strategy to great effect, managing to amass a fortune of over $520 million. Ver is a diehard fan of Bitcoin and agrees with the idea of economic freedom from traditional fiat currencies. 

Another influential guy that has struck gold within the crypto industry is Charlie Shrem. He took a huge risk by purchasing large quantities of Bitcoin before it exploded in price. He also engaged in other cryptocurrency investments, which saw him amass a cool $450 million. 

With his newfound wealth, he has gone to launch BitInstant. Unfortunately, he was charged for money laundering. He was released in 2016, and he got right back to business, founding Intellisys Capital, a company that sells investment portfolios for blockchain firms. 

What can you do to be the next beneficiary of crypto wealth?

The one common trait of these crypto millionaires is they were able to get involved with different projects quite early before they got to the masses. They did their research and invested heavily, which has paid off handsomely. So due diligence is key.

Then sign up on a reputable crypto exchange and purchase the token you feel has the best chance of offering you excellent returns. Also, trading platforms like PrimeXBT offer users an opportunity to benefit from cryptocurrencies by trading futures for assets like BTC, ETH, and XRP without owning the actual asset, which is great since you can make money when the price of the asset rises or falls.  

If you opt to purchase the asset itself via an exchange, you can hold and wait for its price to go up and sell or engage in active trading through leverage and other means. It’s not easy, but with dedication and education, it can be done. It’s always good to research and understand what specific factors affect a particular cryptocurrency’s price movement before engaging in any trade. On PrimeXBT, you can even access expert trading strategies on covesting and implement them to your trades for better outcomes.  

Conclusion 

Many young investors have gained financial independence by investing in the cryptocurrency market. There are few barriers to entry and unlimited options to make profits. However, this is a high-risk industry, and you should do your research before investing in any digital asset. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here