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Buying and Holding
When it comes to any investment the people who made the most money off their investments are the ones that forgot about them.
Stategy 1:
Buy 1 - 10 Bitcoins and hope they reach the predicted prices of $50,000 - $100,000
Strategy 2:
Invest in altcoins
I would suggest picking some low marketcap coins with great potential, a coin that will solve a real problem and invest around $2000-$5000 in that coin if you can afford to do so.
Why invest at least $2000?
From what I have seen the amount that most crypto millionaires invested was around that much, take this stratis investment for example where you only needed $2000-$3000 (depending on your timing) to make $1 Million.
Another example is a fitness instructor who made $1 million from a $2000 investment and this teenager who became a millionaire after investing only $1000. If you want to become wealthy in cryptocurrency (or Bitcoin) without breaking the bank this seems like a great option.
However research here is key, the best investment oppotunities to look for include:
- Blockchain development platforms (like Ethereum).
- Projects that can link other projects or blockchains together.
- Projects that do something that has never been done before.
- Coins that will be used in a B2B setting (do not underestimate business-to-business sales, unimaginable amounts of money are made behind the scenes), Ripple is a good example.
Additional tips:
Do not focus on the price of the coin, focus on the marketcap and how much you invest, a $5 coin with a $1 Million marketcap has A LOT more room for growth compared to a $0.5 coin with a $10 Billion marketcap.
Buy when people are selling (when the price is dropping, I like to call this discount season) or when not many people are talking about the coin (gives you a chance to buy as much as you can before the price explodes).
Do not invest all at once if the price has already risen, invest around 40% to set your foundations then slowly invest more as time goes on, making sure to invest larger amounts if the price drops.
Once you have a decently sized position all you have to do is wait.
For more such Crypto Advices
Follow @yashhanda
Thank you for the encouraging post, it was a pleasure reading it.
I find crypto currencies to be the next big technological discovery, just like world wide web was. And when it comes to new breakthroughs in technology, patience was the key every time, because eventually, all these new discoveries become mainstream and worldly accepted. I have no doubt same will happen to cryptos. Buying and holding it for a longer period of time is my strategy too. Its not just investing for profit but for the future.
Thank you for your post, upvoted and followed!