How can you become a crypto millionaire?
You invest a few euros in a relatively unknown digital currency and a few years later you’re a millionaire. It may sound unrealistic, but for many smart investors, this fantasy has become a reality. They have become millionaires by investing in the right cryptocurrency at the right time. On this page, you can read whether you too might become a crypto millionaire.
A small investment, a big fortune
Those who correctly assessed the opportunities of the Bitcoin and other cryptocurrencies have become millionaires with a small investment.
They bought Bitcoins or other digital coins when their value was still very low. Now that the Bitcoin price is much higher, they have become wealthy.
How can you become a crypto millionaire yourself?
Method 1: active speculation
You can actively speculate on the price movements of crypto. By actively trading, you can react to both rising and falling markets. This is, of course, not without risk, and you also need sufficient capital to start.
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Method 2: investing in an ICO
If you invest in the right ICO, you can become a millionaire with a small amount of $1,000. Ethereum, for example, was launched during the ICO for just over 30 cents.
Unfortunately, most ICO’s are fraudulent, and it can be very difficult to tell legitimate projects from illegitimate ones. You can learn more about ICO s in this article.
Method 3: slow investing
The most realistic way to become a millionaire with crypto is by investing slowly. For example, you can invest a fixed amount monthly in some well-known cryptocurrencies.
If the price is significantly higher in ten years, and you hold on to your investment, you can eventually become a crypto millionaire. You can use dollar cost averaging: buy Bitcoin at fixed intervals.
Examples of cryptocurrency millionaires
Most of the people who have become rich with Bitcoin are young. This is not surprising, as in the first years of the digital currency, it was mainly the “innovators” who quickly recognized the value of Bitcoin. Allow me to introduce you to three of the many young cryptocurrency millionaires.
Livaneli is a 23-year-old boy from Rotterdam. He invested 100 euros in cryptocurrencies when these coins were virtually worthless. Today he is a real crypto millionaire. He has well over one million euros worth of crypto coins from a one-time investment of 100 euros.
The 25-year-old American Jeremy Gardner also became a millionaire. He bought Bitcoins, went on safari in South Africa and forgot about his digital coins for a while. When he returned, he saw that he had become a millionaire with his crypto coins.
The Bitcoin Family
Another example of a crypto millionaire is The Bitcoin Family. This family decided to sell everything they owned and exchange it for crypto. Due to the high level of volatility, their lives have become a rollercoaster.
Another example of a (temporary) crypto millionaire is Glauber Contessoto. He converted all his money into Dogecoin and became a millionaire. Unfortunately, he did not sell the crypto in time, causing him to lose a large part of his wealth.
Finally, there is Fernando, a 20-year-old boy who invested in Ethereum. With his relatively small investment, he can now pay off his parents’ mortgage. This proves that you can become a millionaire not only with Bitcoin, but also with successful Altcoins.
Not a crypto millionaire? You’re not alone!
Are you disappointed that you haven’t become a cryptocurrency millionaire? Don’t worry, you’re not alone.
One famous story is that of someone who ordered 2 pizzas for 10,000 Bitcoins. Today, this amount of Bitcoins would be worth tens of millions of dollars. In retrospect, these were probably the most expensive pizzas in the history of humanity.
Another story is that of James Howells. He had stored around 7,500 Bitcoins on a hard drive. However, James threw away the hard drive and forgot about the Bitcoins. When he threw away the hard drive, the Bitcoins were already worth almost a million dollars.
Always remember that with Bitcoins or other cryptocurrencies, you can suffer a big loss. After all, investments in cryptocurrencies involve risks. But no matter how much money you lose, there are always people who were worse off in the history of Bitcoin.
Conclusion: Can you become a millionaire with Bitcoin & other crypto?
You can certainly become a crypto millionaire, but luck plays an important role. There were very few people who predicted that Bitcoin or Ethereum would be worth as much as it is today. That random altcoin you invest in today could be the next Ethereum.
In most cases, however, it turns out differently and the new coin loses its value. If you really want to become a crypto millionaire, you need discipline. For example, you can invest a fixed amount in crypto every month.
Getting rich with crypto is not an option for most people. So don’t be naive and avoid falling for a crypto scam.
Disclaimer: Past results are not a guarantee of future performance.