How I turned $500 into $25,000, and will most likely turn that into millions and you can too. [aka Crypto101]steemCreated with Sketch.

in cryptocurrency •  3 years ago 

1. Buy everything you believe in. And keep up-to-date on them.

Remember back in 2012 when Bitcoin started to get semi noticed by the world and had its first glimpse of greatness? Remember when people preached of Bitcoins being worth $1,000,000? Well Bitcoin was worth $90-$400 around those times, back when having a single article on Forbes about Bitcoin was unthinkable. But look around, we are slowly climbing the mountain. Even with all the drama, price dumps, exchange crashes, government stupidity & weak handed sissies, Bitcoin still grows. We are are at all time highs and I wouldn't be surprised if we hit $4,000 Bitcoins this year. Then after Bitcoin corrects, altcoins will boom.

That brings us to altcoins, who's market has also grown tremendously in value as of lately, owning the coins you believe in, have researched and keep up to date with are the ones that will help you grow, you have one advantage everyone else does not, you know why this coin is valuable. All you need now is for everyone else to know it as well and you are in the green. And that day will come. 

2. HOLD IT. 3mo-1yr, Buy on mega dumps.

Don't be that guy that bought PIVX at 10 cents just to have sold it at 16 cents... if you buy something and you know why you bought it and have done you research, you are much less likely to get weak hands and sell for minimal profit. All of these projects have so much room for growth and dumping early is one of the easiest ways to kick yourself for years to come. So instead of dumping with the market when everyone starts taking profit, start buying and increase your stash of cheap coins, because one day, all of these coins will be worth 10-1000 times what they are today.

3. Once you are up 200-300%, sell your initial investment. Trust me.

Obviously theres risk involved in crypto, so to be more safe and secure your investments, when your some of your alts have a mega spike, why not sell 1/3 of your coins which usually equals out to your initial investment and put that back into something more stable like Bitcoin until the price corrects? It always happens, no matter the coin. And it helps you sleep at night, or atleast not wake up at 5am to check the price lol.... you know you have all done it...

4. Buy More, Hodl More.

Crypto is bullish. Every chance you get you should be purchasing more BTC with USD, earning more BTC online, buying more Altcoins, increase your positions in your favorite alts and just get involved in general. The only way crypto is going to 'go mainstream' is if everyone adopts this mentality. You can already LIVE on crypto currency and I personally do so quite well. So why not shake the past and start living in the future? FIAT is a dying concept of money and we all know it, therefore we should all be dumping our FIAT for Bitcoins and other cryptos.

5. Oh and don't forget to keep growing your coins, using Steemit for example!

A great way to increase your stash without pulling money out of your pocket is to simply be active, use services like Steemit.com, be active on subreddits about crypto, be active on your favorite forums about your favorite crypto or whatever it may be and I promise it will pay of for you, you will either get in early on a generation 3 currency, earn alot of $$ on Steemit or even find yourself a sweet blockchain funded job! Those seem to be all the craze these days..

6. Crypto is a Bullish market overall, don't forget that folks, FIAT is dying before our eyes.

Like I said before, crypto is bullish, any coin that stays alive for the next 5 years will see insanely gains no matter what, its the nature of the system. While I don't suggest to buy more than you can manage, owning more than 1-2 coins is a very good idea for the next couple years, even if some short term losses occur overall we're all going to make quite a hefty amount of profit due to the nature of the systems we are investing into. We are still early adopters folks!

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This is a great success story! Thanks for sharing and encouraging others.

Thank you!

Thank you for composing this and encouraging others to get involved. I completely agree with this strategy, most importantly #1. Invest in what you believe in! This is an age old investing strategy touted by billionaire moguls in every industry. You don't need a crystal ball or be a master at economical statistics to figure out what coins to invest in. Read up on their history, founders, vision, goals and find what resonates and aligns with you personally. This is the strategy I have always used in investing and it has always worked, while allowing me to sleep at night. I invest in what I genuinely believe in and can get behind. If I lose money, then I have no issues with it because first, I only invest what I can afford to lose, and second, if I genuinely believe in the vision and support the coin, I'm rooting for it to win, but if it doesn't work out, I know at least I've done everything I could to help.

Bottom line personally I believe Cryptocurrency is the future of humanity. The chances of it completely dying out and disappearing is pretty much negligible. Pretty much any coin available today, as long as you confirm it isn't a scam by investigating the companies/people behind it (these definitely exist), has a good chance of increasing over the next few years. Find the ones with visions you can rally behind, that have a genuine technological use or value to contribute, and invest only what you can afford to lose. I believe there is still plenty of time to take part in profiting from the gold rush of the 21st century before it goes mainstream.

this is my mentality. once mainstream adoption happens then these coins will store even more value.

I expect this ecosystem to continue to grow for atleast 15 more years before 'the battle for the world currency' is at a closing point, maybe even longer. There is ALOT of wealth in the world...

I agree, and your positive attitude is the right one. There is plenty of wealth, there is plenty of time and we can all benefit. The current crypto-environment and market conditions are causing people to feel that they are going to miss out, but there will always be opportunities because there is a diverse range of crypto's that cater to everyone's unique needs. I enjoyed your post

I am curious to see what this industry looks like in 10 years and if the world changes any more or just adapts to avoid crypto...

100% I would like to see how this distribution of new wealth and decentralisation of the current banking system will look like. I image it will offer an attractive alternative that once the masses find out about cannot ignore!

Why wait ten years, the environment is changing so fast I am looking forward to the next ten minutes.

Great lesson of risk management in this volatile cryoto world.

Thats the idea! People tend to get all excited and scared when it comes to this much gains and losses lol gotta remind them from time to time.

  ·  3 years ago (edited)

Steem tokens could pay out more than Bitcoin returns in 2 years since the platform is still infant in comparison. The bad thing about selling 1/3 of a coin is if you have a winning coin longterm you can be millionaire just buying $20K-$30K of ETH for example last December and waiting till Casper release. For example; An ETH ICO investor that put in just $10,000 was worth about 3 million when ETH touched $100. I am not saying don't take profits at some point but if you have a true winner don't sell it until it matures. Usually 3-7 yr. holds return the best. That's true in the VC world and remains true in early stage crypto investing.

I agree I was simply giving people some advice to spread thier risk and possible losses. It's always a crappy feeling when even your initial investment is taking losses and this helps combat that. People are encouraged to make thier own choices obviously though. I for example don't intend to powerdown anytime soon.

  ·  3 years ago (edited)

That's true. Also selling your initial investment can make people better hodlers to reap massive longer term multiples. It's tempting to cash out and sit on the beach though isn't? But that's the game is to get those huge multiples first before doing that ;-)

Hahahah screw a beach! I want my own Island with a Bitcoin/Steemit powered village!

I hear that. Hodling the right crypto investments for the right amount of time will buy the whole beach as the inevitable crypto/token adoption sweeps the world.

I can see it now... a craigslist post looking to buy an island.. we should call it Cryptonia lol

that's the journey, longer term outlook on all of these cryto's. My 2 cents , bitcoin has transaction issues so mass adoption is proving to be difficult. In my humble opinion coins like Ethereum, Litecoin, NEM, Ripple and Peercoin Offer better solutions for mass adoption. Steem is going to be a game changer industry revolutionary innovation, which I am also excited for

The best post of the day. Well enjoyed.
First bought pivx at $0.39
First bought bitcoin at $170
First bought steem at $0.17

Sounds alot like me! I got into PIVX a little earlier, steemit a week later it seems and Bitcoin $60 less but had very little to invest back then. Started with 1 Bitcoin I got for $90... and thanks for the love! I enjoyed writing it. I see alot of newcomers lately who haven't learned the ropes lol so I thought I'd give a opinion on the subject with success to back it.

I was lucky to strike on Pivx at .07 cents

Nice!

Wow! Bitcoin at $90.00 what a steal! Yes solid advice backed by experience!

I'm one of those newcomers, so I really appreciate the post. Trying to soak up all the info I can find and I gotta say...it's a little daunting for my aging brain lol.

whats pivx, is it worth being invested in?

I would say it is worth it. But, I would look into investing more in steem, ripple and maybe Iconomi. But yea I like pivx. You could stake it just by having coins in your wallet. It's like Dash but probably better. Diversify and do your research.

thanks will do, thanks for the follow :)

Good insight. The total crypto market cap passed $55 billion today!
https://steemit.com/cryptocurrency/@digicrypt/total-cryptocurrency-market-cap-surpasses-ususd55-billion
Which is awesome! but as I point out in my article, Apple could buy the entire crypto sector 5 times over....so yes...a lot of room for growth still! Exciting times!

Great tips, so many crypto projects addressing so many traditional business models.not all will succeed but the ones that do will be massively profitable for the early holders.

Yea and it's obviously best not to have all your eggs in one basket as well haha

So i have managed to make roughly $400 profit through etherium in just one week! Transfer a good amount yo steem. Something as simple as a $0.50 increase can yield fantasric results if you own 100-1000 coins. Thays big money were talking about here!

Isn't it fun!?

Thank you for sharing this. I'm still learning and very much a n00b when it comes to crypto, I have been on the fence about making an investment in it. After reading some very helpful posts here on Steemit over the past week and a half I believe I'm ready. This post definitely motivated me to take the plunge. I have a feeling I'm NEVER gonna look back!

I'm glad I could provide some insight! Don't listen to the naysayers, if crypto was going to die, it would have by now. Nowhere but up from here! Also; don't invest more than you can lose in the short term. It might drop 50% before it rises 200%, keep that in mind.

Once you are up 200-300%, sell your initial investment. Trust me.

I'm up 200-300% on my steem stash, not selling at these low prices. Steem should be valued at 1billion marketcap at least right now

Steem is a different beast, since you can earn here its wise to keep it in an interest bearing account and cash out years from now. Good move sir!

Only put in what you can afford. Trust me there has to be losers when people are winning.

The losers in this long-term case is the people staying in FIAT :p

Yeah, there are definitely many losers already. Just look at the coins that have gotten delisted from Poloniex. Game over. They lost. Maybe that makes crypto more healthy than the dotcom boom. Weak ideas are getting axed pretty early on.

Agree. I got into PIVX early around .20, also bought some at .30 and .60. Once it hit around 1.50 I cashed out what I put in, "just to sleep at night". I really believe in the coin and I'll be staking my stash until the end. You have to do your research and if the tech looks good, put your money in and just wait. Want to diversify for sure, just in case some of your bets don't play out. Who would have thought Ripple, Stellar, and NEM would have took off like they did. If you stay in the top 50 coins, you'll be ok. I actually like the Bitbean coin and it's around 200 or so in the marketcap, but it's basically bitcoin with 20mb blocks that you can stake, actually really good coin, will it ever make it, well time will tell :)

I'm really loving POS coins. It's like mining on steroids.

Yep, and you don't have to pay crazy electrical costs. I think when Ethereum switches to Casper, and hopefully successfully, is when proof of stake coins are going to be recognized and rocket in value, either that or they'll live up to the other POS acronym :) Can you recommend any other good staking coins besides PIVX?

Fiat money...the true bubbleimages-3.jpg

Totally agree with this. I always make sure to get back my initial BTC and maybe a litle extra pretty early on, unless I am very certain that a project will be successful. Then it's all fun and games from there.
Very exciting to be involved in a so very young market.

It helps ease the soul and turns crypto into an endless spring of free gains! haha

What I like / hate about crypto is the market is open for 24 hours. It creates panic for those who wish to trade.

Which I did. And got burned back in 2014.

Now the HODL lesson is learned and embraced fully! :)

Lol trust me man I know how it feels to buy Litecoin at the top...

Great advice, especially #1. I'd rather hold long term knowing there are smart people working behind the scenes to improve a platform than gamble on daily fluctuations. Crypto is much more predictable long term than short.

Great mind brother.

I'm happy to be follower and look forward to more of your articles!

You have some great points here. I really like the idea of buying coins I believe in and hodl, then buy more on the dumps.

Thanks! Years of experience under my belt helps.

Thanks for the good information Up voted and following!

I totally agree with you in fact im invested in every coin on poloniex 66 think. Every time I add money I split it equally among all the coins I call the strategy FOMO NOMO

Lol nice man! I personally only own like 12 coins as I can't manage much more..

You can do it your off to a good start did you pick any good coins? and which ones your best so far?

I have the following currently: Steemit, PIVX, Trustcoin, Ark, Komodo, Shift, Maidsafe, Stratis, Litecoin, Bitcoin, Transfercoin, Ethereum Classic & launching a new coin here with some long time associates soon. (I'll be doing the design related work, website, etc)

  ·  3 years ago (edited)

Cool nice cryptofolio. I'm interested in this new coin gonna follow you. Will you post updates about the launch in the future?

Of course! Just was asked to wait until the ANN thread is up before I go spilling the beans :p

nice

Excellent advice which should get posted on welcome to Steemit FAQ :)

Followed.

I put about 15k into crypto overall now its worth close to $200,000. I'm grateful. I also have pivx as well

It's a little sad (and I apologize)... when I liked this article you lost $0.01. :(

Lol! Don't worry man. I have another account that has plenty of Steem Power :P

Awesome post, I am going big on NEM, XRP, PIVX, ETH, and GNT

Thank you!

Great post!
I agree to holding on for years to come.
Thanks for sharing and Steem on!

Glad you liked it bossman!

I totally agree with you! We are at the beginning of something truly great. And we have to get more and more people on board!

I really enjoyed reading your strategy and dig your positive attitude . Best of luck.

Thanks for sharing! I am interested to find out what is you opinion. To me, it looks that we are entering bubble territory for a vast majority of alt coins (except Bitcoin probably). Just think about and analyze the following facts:
At least several dozens alt coins market caps skyrocketed 300%-4000%(yes, four thousand!) recently just over last 2 months!

The beginning of sharp increase happened around middle of March of 2017 for ALL alt coins!

Yes, some alt coins sharp increase is logically justifiable. For example, Ripple XRP: http://www.cnbc.com/2017/03/01/japanese-banks-plan-to-adopt-blockchain-for-payments.html . Maybe there are couple other alt coins where this huge growth is also justifiable.

But for vast majority of other alt coins nothing has changed drastically during the last 2 months! At all! Neither in their technologies development, nor in their business development! But nevertheless, their market cap skyrocketed 300%-4000% in just 2 months!

The only explanation which comes to mind is that huge amount of new capital is coming to cryptocurrencies market. Probably these are the people/investors who have heard about the first wave of Bitcoin and Ethereum successes, and they have a FOMO (fear of missing out) now. They don't have deep understanding of cryptocurrencies space and their differences, but because of FOMO they still invest in all other alt coins hoping to hit jackpot!

Does it remind you anything? Yes, exactly, dot com bubble of 2000 looks very similar!

Therefore, I would expect some kind of significant downside price correction within next several months for the majority of alt coins. Would you agree?

You Must to publlish a guide step by step Like "for dummie" on this! is it greath

Wow, so much good info in this post. In your opinion, what is the best way to earn crypto on line. I know in the early days you could do this on Reddit, but not sue if that is still the case. Besides Steemit, of course.

)..very good....,...and + DASH..)

Ive been buying BTC and crypto for about a week now, before this i was invested in the Canadian stock market, ive seen some great gains but have no doubt in my mind that blockchain technology and crypto currency is where the huge gains will come from.

This is a great strategy, especially for those who have daytime jobs and doesn't have the time to be daytrading.
I also agree that crypto markets in general seems to be bullish in the long term.

I agree with much of the post but question a couple of areas. First, when it comes to cryptocurrency, I agree with taking out your initial investment after an increase. After doing so, everything else is free money. Also, diversification is generally a good idea. However, so many of these coins are virtually brand new. I don't know how anyone could project increases into the future. My gut tells me that only a handful of these coins will have much of a future. Fomo is rampant right now and knowing the best time to get out is nearly impossible. What will our investment be worth if the feds decide to make cryptos illegal? Look up the tulip mania in Holland for a historical reference.
Side note: I'm not all that tech savvy; any good hardwallet recomendations?

It is unbelievable that one is sitting on over 700% ROI on Ripple in just a month. Where else can that happen? If you are not bullish in Crypto, expecially the altcoin then you are missing a lot!!!!

Good points

🌀

Spot on. I was into XRP. I got in at 0.05 and chicken out at 0.13 right before it went to 0.30. That's life, I wished I had more cojones...

YUP. I like your strategy and advice. My game plan is similar... although I wish I could hold more to the 300% levels instead of exiting earlier!

I think a great coin to accumulate now is XEL. Hold for a year or two and hopefully it pans out :0)

Thanks for the advice, many needs to learn from this.

If I could, I would give you 100 upvotes man. Great article and very inspiring. I am already a long term hodler. This just reinforces my belief in what I'm doing. Thanks.

Thanks for ur story.Please encourage me also

I like this approach. Thanks for sharing

great lessons for wishful cryptocurrency investment. Longtime holding happens if we strongly believe what we invested.And its important to diversify and create a strong portfolio.

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