Path to becoming a Millionaire. My take on Cryptocurrencies.
Hi all this is a quick update on my journey to becoming a millionaire. Here are some of my keys to success that I am following in business and investments:
- Research. Research. Research. Be reading and learning new things daily. If it sounds like a good idea see who else is looking into it. Check for possibility of viability and adoptability.
- Don’t Ever Invest more than you are willing to lose or anything that could drastically hurt you if you don’t receive it back.
- Once you have researched and decided that you can check off viability and adoptability than invest early and hold.
- Look where the market is going and position your investments in that future direction.
- Be First in and Last Out. Procrastinate on selling. A lot of bitcoin owners sold when it reached $200 and they became millionaires which is great had they held onto a good amount still the current price is $4700ish today. Can you imagine?
- Don’t fall for rumors. Rumors influence markets all the time despite regulations. Press releases make or break even big companies in the stock market. I have made the mistake of selling when it looked like the whole market was going down only to be shocked when everything bounced back up.
- Spread out your investments. The age-old phrase “Don’t keep all your eggs in one basket”
- You only need one of your investments to hit big.
I have invested a small amount into cryptocurrency and I have already seen significant increases. I started with a few cryptos such as ETH and XRP and from there have spread to about 15 different coins and my initial investment of $5000 is now worth about ten times that. I believe I am still early in the game and I am working to continually enhance my portfolio.
Please comment your favorite Crypto below so I can look at it and improve my knowledge.