What lessons we can take from the bit coin millionaires?
It is true that cryptocurrencies are the money in the future. For the young generation it is the revolutionary concept and they must have to enter in this world to be successful. Many millionaires have followed the smart concept of cryptocurrencies and now they are happy. A bitcoin millionaire named Tim Draper also realized the value of cryptocurrency and said that “In five years, if you try to use fiat currency, they will laugh at you. Bitcoin and other cryptocurrencies will be so relevant… there will be no reason to have the fiat currencies.”
According to us wastage of time is not good. We must enter in this world timely. Let’s have a look on the self-made crypto millionaires that will inspire your success. We should take lessons from their stories:
Story of 12-year old kid: One twelve years old kid hated going to school so much he made a bet with his parents that if he becomes a millionaire before eighteen then they would not force him to go to college. He started to invest smartly in the bitcoins manages his and his family’s bitcoin investments. While living in the Silicon Valley, he was busy with his all projects and now he is twenty. At the age of eighteen in 2017, he owns 403 bitcoins (values nearly $ 8233). He put his bitcoin value at $3.3 million. Further he also invested in the ether and Litecoin. You know what is his name? He is “ERIK FINMAN”. He did not go to college.
Another story: Charlie Shrem is noted as the youngest millionaires from the bitcoin. He was the co-owner of a well-known gastropub in Manhattan named “Eyr”. In the way, first he started to accept bitcoin payments. Then he purchased bitcoins for $3-4 initially. After few months the price of the bitcoin reached up to $ 20. He purchased more and more. After that he organized an exchange platform for Bitcoins named “Bitinstant”.
Another bitcoin millionaire from south Africa at Johannesburg, named Mpho Dagada was interested in the crypto investments in the year 2013. During his study in the university, he started a laundry business and invested all his profits in the bit coins. At present he owns many restaurants and a logistics company. Still he earns a lot from the bitcoins.
We suggest you invest in the undervalued tokens.
We all know that the cryptocurrency market is volatile. Beyond the price, there are tons of coins that have great potential to become the next big thing, but these are mostly buried underneath. These coins are best to invest. We suggest you invest in the undervalued coins that have a strong potential in the future.
Hold your coins
If you want to invest in the field of cryptos then the first rule is to buy and leave them into hold. You can take an example of Jered Kenna. He started to trade in the market of cryptocurrency by buying the coins at $0.20 each and after few years he sold them at $258 each. In 2016, the value of the bitcoins has soared up to eight folds. Many self- made millionaires hold their tokens and forgot about them. When the price rose up, they turn them into active.
Smartly manage you accounts: Investors have both hot and cold wallets to keep their coins. You can keep your hot wallet as your current bank account and the cold wallet as your savings. Use your hot wallet for daily purchases, all the rest should sit securely in a cold wallet. Another basic thing is to remember is that you must keep your private key hidden to get security from the theft.
Above all the lessons that we can take from the previous millionaires. They can help us to come and survive in the world of cryptocurrency.