How To Make A Fortune By Investing In Cryptocurrency
You probably think of stocks, currencies, commodities, and bonds as the only items to invest and trade over exchange markets. But don’t be amazed and give me that odd look when I told you cryptocurrencies have emerged with a bang to trade over the exchange markets worldwide as well.
Cryptocurrencies are those items holding names such as “bitcoin” and “ethereum.” They are digital currencies that are computer generated using a decentralized system to bring forth a more stable currency. And the fact of the matter is people all over the globe are getting rich with these cryptocurrencies.
Today, there are over 984 digital currencies with more coming to the market every day. With most of them having their status shooting higher and higher over and over again. And with their upcoming, they have provided a breeding ground for traders to make extra millions.
But what is cryptocurrency
Cryptocurrency is a bunch of digital numbers generated by computers. Their primary purposes are to work as a channel of exchange using cryptography to create an environment that is more secure for transactions as well as the creation of additional units of digital currencies. Cryptocurrencies provide a more secure level of anonymity with transactions being irreversible and can’t be faked.
Cryptocurrencies use a decentralized system unlike other currencies controlled by centralized banking and other financial institutions, economic system, and governments. The decentralized system means digital currencies can be available to anyone, unlike centralized system which decides the clients they want to open accounts.
The first cryptocurrency is bitcoin which emerged in 2009, using blockchain technology application. And as a new channel of digital cash, cryptocurrencies markets have developed for small and large investors to trade and make huge money out of it.
What should you do to make millions out of cryptocurrencies?
Cryptocurrencies are much equivalent to bonds and stocks. That’s why many of them are trading at huge discounts with a great opportunity for investors to grow wealthy very first.
If you have some savings lying around, you would be surprised what that cash can do for you. Few Euros, Dollars or your home currency worth of cryptocurrency can bring you fortunes. No brokers are charging high fees, nor any other middlemen to deal with. There are no barriers to market entry; it’s just amazing to make money any time you sport an opportunity.
To trade a cryptocurrency, one must be familiar with some knowledge regarding various businesses, consumer supply and demand, and the general economic trading at any moment.
Having this knowledge gives a massive advantage over other traders who are the early adopters of cryptocurrency, cryptocurrency miners, and programmers. These traders focus on a small technological innovation that indeed helps them to earn a profit without much thought of how the currency performs outside the exchange market.
With that said, let me walk you down on how to make a considerable profit margin using any cryptocurrency that you chose as your primary digital currency. First, you have to buy some cryptocurrency. Many exchange markets are offering any purchase you wish to make. But, it’s a better idea to purchase bitcoin for new traders.
With bitcoin, you can trade any other cryptocurrency available in the market. The most significant advantage with bitcoin is that you can buy fractions of bitcoin called Satoshis instead of buying the whole unit.
Once you have your cryptocurrency, it’s time to find for an exchange. Some exchanges are best, others are bad. It’s up to you to do some research and choose that will not fail you. Don’t rush to those that will instantly shut down or have your cryptocurrency stolen. My advice for you is going to those exchange that has done exceptionally well since infancy.
Now, with cryptocurrency and exchange, you can start to trade. However, before you choose some cryptocurrencies to trade, it’s advisable to do research first. The best way to know how you will make the profit is by researching the coin to trade. So, before you go some trade have some information regarding that coin supply details, its current and future development plans, its performance within cryptocurrency community, and a lot more.
If you invest in a good coin for short-term or long-term, there is no hindrance from becoming a millionaire. You will walk around with your head high saying, “Damn! What an investment to plough me back millions.”
Why should beginners trade bitcoin to become millionaires?
The first cryptocurrency was introduced in 2009; the electronically mined currency Bitcoin has made it possible for every trader to make millions. With bitcoin, you can get productive with it using two ways: trade or mine.
But mining bitcoin has become extremely difficult. The pioneers of bitcoin engineered it in such a way that it becomes more difficult to mine it as time pass by. Turning on your computer to extract bitcoin will make it heat up and very noisy. And if you lucky enough to mine some bitcoin, it’s more likely you will have spent more on electricity bills.
The most realistic way of making millions worth of bitcoin is trading it in the most public prominent exchange markets. If you are that person who purchased bitcoins in 2011 when they were selling at lower prices, you are making a huge profit today. By then 1 bitcoin was worth $10 while today 1 bitcoin is worth $2800, making a $2790 profit is worth it.
Trading bitcoin is risky due to it high fluctuating price, but with the volatility there exists an opportunity. As long you have some capital with you to trade, you can convert it into millions.
The reason I recommend bitcoin to beginners is that it has a strong background and it’s here to stay. As earlier said, it does big favors for traders since you can buy it in fractions and trade it with any other cryptocurrency worldwide. Unlike other cryptocurrencies that comes into the market and die off, bitcoin has its existence 2009. Therefore, you should not worry if it’s your first cryptocurrency.
It’s important to note that bitcoin holds 50% of cryptocurrency market and it is, therefore, most performing currency today. Though, you can start with ethereum the second best from bitcoin.
How it feels to be a millionaire
Things are changing first in the world of cryptocurrency. Tomorrow and the day after tomorrow is another universe of being a millionaire. If you have the feeling that there are no millionaires in the crypto world, then you are wrong. People are making money by making a rational decision.
How does it feel to wake up one day being a millionaire? Well, the feeling is incredible. Being a millionaire means resigning your day job and traveling the world within the next few weeks. It means having a luxury car, living in a mansion… the list is endless.
But this doesn’t come for free. It involves taking a huge risk. Investing in cryptocurrencies is one way people are using to get rich; become a millionaire. But it doesn’t mean you become a millionaire instantly. You have to research and analyze every coin to make decisions that brings you fortune.
Indeed, cryptocurrency can make you rich overnight.
Rachael Chapman
A Complete gamer and a Tech Geek. Brings out all her thoughts and love in writing blogs on IOT, software, technology etc
