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
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