That’s the questions many of us ask ourselves these days. If only I had invested back in 2009 when Bitcoin was worth pennies…
Yeah the imagination can run wild. But we are here and now in the early 2018.
So the question is: “Can crypto make you rich?”
The obvious answer is yes. There are plenty of folks who’re making great money trading crypto-currencies as we speak. One of my favorite places to go is YouTube. You’ll find plenty of guys bragging to have made hundreds of thousands or even millions of dollars from crypto. Are they lying? Possible, it’s the internet in the end 🙂 But given the rise of Bitcoin and alt coins last year, there shouldn’t be any doubt that making money with crypto is definitely achievable.
How to Make Money with Crypto?
That’s of course the next question. And to answer that, there are 3 ways to do is that I know of:
- Using Crypto Trading Bots – Yep, if you haven’t heard about it, there are these tools, some hosted on cloud, some you can install on your own PC. They essentially buy and sell coins based on the parameters you put in. It’s quite new things still, so if you’re interested, definitely check it out.
- Trading Crypto Manually – What does it mean? Simply put, you sit behind your computer screen or mobile device and keep checking the coin trend. It really is that simple. If you see it going down, you buy hoping it will rise. If it rises, you sell and make nice profit. If not, well you’re shit outta luck 🙂
- Buy and Hold – It’s the dummy way of making money and becoming rich with crypto. You don’t need to think, don’t need to work. Just have some spare cash to invest and hold. Now it depends on what coins to buy. Do you trust in Bitcoin enough? Or new altcoins that are popping up every day? Either way it may be the simplest, but can definitely pay off in the long run.
Of course, it may sound all nice and dandy. Everyone’s talking about investment opportunities and new ICO’s. It’s easy to get pumped and jump into the game blindly. But I would urge you to be very careful. You don’t want to invest in another Bitconnect.
Here’s golden rule you need to stick into your brain: Make sure you only play with money you can afford to lose. It’s heartbreaking listening to some people who’ve invested all their life savings into Bitconnect, to lose it all. We’re talking $50,000 – $200,000 USD turning into 0’s. Ouch. So never risk your lifeblood money. Only the cash you can accept losing. I would suggest to start with few hundred bucks in the beginning. Once you get a grasp of how it works, put in some more.
Leave the comments below and share your opinion about crypto. Have you made any money with it yet? Lost some? Give your input.