Can I become a millionaire trading crypto? I asked.
Looking at me with a "here we go again look", she said. Before I answer, I need to know a few things from you.
What is cryptocurrency?
How does it work?
What and how do you trade?
What and how do you invest?
1/
She asked with a not-too-good-looking face. But this time, I was quick to answer, it's easy you know.
'Haha', she laughed. Now with a relaxed face, she begins...
The question you asked is one that runs through the head of every new and wannabe crypto trader/investor.
2/
The hard truth is that to become a crypto millionaire depends on you. YES, it depends on you. Remember the popular quote by Brian Tracy...
3/
She didn't stop. Cryptocurrency is a broad space, trading/investing is one way to be a millionaire. People rush into trading and investing because of the volatile nature of crypto.
And of course, the volatility is an edge to your success and failure in this crypto space.
4/
In my head, this is enough, all I wanted is a Yes/No for an answer. But hey, do not ask a question, when you're not ready to listen to the answer.
Are you still with me? She asked.
Of course, I'm with you. My crypto friend needs me to be in the now moment.
5/
Now, to your question. YES, trading/investing in crypto can make you a Multi-Millionaire. She said.
I became a crypto millionaire because I knew and understood 4 basic principles.
AB, I will tell you these working principles for free. I want you to become a millionaire.
6/
She continued...
First, you must learn how to preserve your capital. In a bull market, making money is easy.
But when the market dips or a downtrend, what happens to the made money?
You have to manage your risk in the space to be a winner. Remember, cash is king.
7/
Secondly, learn and understand how the market cycle works. I learned this the hard way.
In every business, there is a peak season and a low season. This is the same with crypto, accept whatever cycle we're in. Do not fight it, you can not win.
8/
Your awareness of this makes you think long-term, and every long-term player is a winner. FACT.
Pumped at this point and was ready to execute.
Then she said... Boy, relax. I'm not done. You have to learn to be calm, it puts you in control.
Dopamine don drop, body don calm.
9/
Keep an eagle eye, it helps you spot new and promising projects. $LINK was at $0.15 yrs ago, $BNB was at $0.10, 5 yrs ago, and $ETH 0.45$ seven yrs ago.
Wondering how you too can know about these projects and ape in early enough? Here is the deal, you must do the needful.
10/
Research and experience are the keys. Experience comes with time. You must participate, and be involved in the losses, regrets, lessons, and heartbreaks.
Lastly, I earn from my crypto holdings. You agree with me, trading is active earning, you don't trade, you don't earn.
11/
There is no greater joy than making money while doing nothing. Learn to put your crypto holdings to work. Passive earning is a MUST.
Follow these steps, and you will become a millionaire sooner than you think. You will meet setbacks on the way, it's normal, Keep going AB.
12/
Wealth creation is a journey, a process, and a long-term goal. Don't let anyone talk you out of the possibility of it, you can do it. She concluded.
Indeed, my crypto friend is a blessing. And I hope you're blessed reading this to the end.
13/13.