Become a cryptocurrency Millionaire with $1000
What's up everyone this study journey crypto in this video we're gonna be talking about how much money we need to invest to become a cryptocurrency millionaire we're also gonna talk about the possibility of turning $1000 into $1000000 in cryptocurrency so we're gonna get into all that in some examples before you started
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I will be launching a huge crypto give away to get back to the community once we hit 50000 you can also comment below and I will try to reply to all those comments also be aware there's a lot of scammers in the comments right now using my name and logo so keep in mind I would never give you guys a phone number to contact in the comments.
So you may be thinking turning $1000 and a $1000000 is impossible in the crypto space now and it probably is for most people but keep in mind that there is opportunities out there constantly you just have to be able to research and find the right ones so of course you're not going to get a 1000 X. in bitcoin investing in it today at $38000 so the first time I heard about bitcoin.
To buy illegal drugs and things so I didn't want to get involved with it at the time and there was really no other crypto currencies at that time in the concept of crypto and bitcoin was brand new at the time everyone I asked didn't even know what they claimed was and they said it was a scam so I didn't end up investing in it at the time which was one of the biggest mistakes in my career if I had bought bitcoin in mine bitcoin at $30 that would now be over a 1000 X. with big point being over $30000 now at 38000 today. So that's one of the biggest mistakes and that is an example of the 1000 X. so another example of a 1000 X.
Many other projects out there did see over 100000 percent if they'd bought in the ICO and it's sold at the peak of the war and of course how many people really were able to do that especially if you buy into theory and on in the ICO in 2014 at $0.31 a coin and then you saw this go up to around $30 just a few years later you would be very tempted to sell because that's in itself is a 100 X. and that's pretty rare in the financial world so most people can't make it to hold to 100000 percent are why that's why I say it is pretty much impossible for most people because most people are going to want to take profits at some point even being up 100 percent or 500 percent you're going to want to take profit on their investments and that is the point of investing in cryptos is to make profit so you I can't blame you there.
But if you do want to be a massive 1000 X. return on investment you're gonna have to have very strong hands and hold very long term so the odds of you finding the next new cryptocurrency. Project and investing in it very early on it near its inception is going to be extremely rare you're gonna have to do endless research digging for this hidden gem and it's really going to be impossible but those chances are still out there they're still great cryptic currencies being created every single day.
That do have huge R. O. Y. potential so as you guys can see here on coin market cap at the top you can see how many crypto currencies there are there's currently 8000 200 total crypto currencies just listed on coinmarket cap there's thousands of other crypto currencies that are not even on coin market cap so by the peak of the next 4 and they'll probably be be 20000.
It cryptic currencies on here more because with everything being so bullish everyone's going to want to make a cryptic currency for their idea so the chances of getting a 1000 X. in the crypto or turning $1000 into $1000000 are going to be very slim and most likely you're going to lose that money instead of making it that massive potential profit especially investing in brand new crypto currencies is extremely high risk and I don't recommend that for anyone.
I would diversify a portfolio if I was a new crypto investors spending $1000 in crypto for the first time I'll show you guys a pie graph showing that what I would buy at what percentage is just to be diversified and be more likely to be successful in the crypto space so I actually did a on the same topic at the beginning of summer 2020 and I do want to go over some of the things I talked about in this blog.
I did point out a couple investments I think can do it 1000 X. but of course these prices are history by now so 1 of the things I pointed out in this was Cardano possibly doing a 1000 X. from that point and as you guys can see in this Cardano is just $0.6 in this and this was actually up from where I bought it as well and this was before the announcement of the Shelley mainnet which was coming which was introducing staking Cardano was at only 1. Point $6000000000 market cap and if we check it out now include market cap it is touched 10000000000 yesterday it is correcting though so overall Cardano is already up huge so the possibility of doing a 1000 X.
From the current market cap is much less likely than if you invested in back here when Cardona was much cheaper. So later in this. I also pointed out spark point S. R. K. and has you guys can see the price of SRK was point 000048 at the time with a 2 under $60000 market cap and this is 1 of the projects I got in early on and I am a marketing adviser for this project as well so I have been holding this since the very beginning and I have no plans of selling this anytime soon so I've been accumulating this even at the peaks here on dollar cost averaging I'm doing the same thing with Cardano because these are 2 projects I believe in long term they have a good long term vision they're building good utility for their token. And spark point S. R. case now around 8014 $0 market cap.
So it's still very early on for sparkling S. R. que in massive upside potential here as well as Cardano but not nearly the same as in that as you guys can see the market cap the $250000 ridiculously low price here so just to show you guys the massive potential of investing in good projects early on we can multiply divide the current market cap of spark point S. R. K. by the market cap in this here back in 5/20/20 of $260000. And as you guys could see that's 50 X. the market cap that is currently at and I still think it's very undervalued for everything they have going for them now so 50 X. in less than one year so if you put $1000 are you would now have $50000 worth of S. R. K. if you put in $10000. You will now have $500000 in sparkling S. R. K. just insanely crazy potential there so I'm not telling you guys to go out there and buy spark point S. R. K. 2 give me 1000 X.
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Averaging and what this is is just spreading out your purchases in intervals so let's say you make $5000 per month and you want to put 20 percent of that per month into crypto which is $1000 per month and let's say you get paid by weekly this means every 2 weeks you would be putting $500 straight into the crypto currencies of your choice whatever ones you see best fit for the long term people that do this and then do some day trading and up sell when they have profits in buying cryptos they have a better return.
On investment opportunities people that do that in the long term are very successful so another thing that's getting very popular is staking and lending your cryptocurrency out in order to earn passive income paid in cryptocurrency so that is a way to increase the amount of crypto currencies have while you're holding the cryptocurrency and it's not doing anything. Anyways and many projects can do this Cardano can actually now do this you can delegate your 88 points to a staking pool and then earn a percentage annualized return so the percentage is pretty small on either right now. So let's say you want to put in 100008 A.
Which is currently around 20 $8000 U. S. value your annualized return at 3 percent per year which is pretty low is going to be about $870 worth of a day or 3000 88 you would be earning per year staking this but if you're just holding ada and waiting for it to go up in value anyways you might as well be staking it or lending it out and earning some passive income on that at the same time doing staking or landing at the same time as dollar cost averaging can have a massive impact on how much return on investment you have over the years so there are crypto currency platforms out there that allow you to lend out your cryptic currency and earn a high percentage annualized return on that cryptic currency.
Some of these percentages are actually pretty good and I am going to be doing a coming up here showing you guys buy recommended platform to lend out your cryptic currency I'm also going to tell you guys how I did a cryptocurrency backed loan and they saved me over $100000 by not having to cash out distant Derian so as you guys can imagine there's a number of different things you can do to increase your return on investment profits like lending your crypto out sticking your crypto day trading your crypto there's even a much more risky things like leverage trading where you can do 10 to 100 X.
But you can also very easily get liquidated doing that so I do not recommend leverage trading for it new crypto investors and I would only recommend that for very advanced technical analysis experts in the crypto space so combining these different things over time and doing dollar cost averaging and always buying in in intervals you can definitely reach that 1000 X. in the long term but I wouldn't be expecting this in a year or 2 I would have a long term strategy 10 years out or more and doing a combination of different things you can be very successful in the crypto space and many people already have been so don't expect to buy into bitcoin Ethereum or Cardano even include a 1000 X. just plain holding that long term it is very possible Cardano.
This at $8000000000000 now which is pretty insane if you got into Cardano around 2 to $0.3 this might be possible with Cardano hitting 2 to $3000000000000 market cap but even that is very far out so I hope you guys got some useful information out of this in the upcoming couple days I will be doing some how I would spend $1000 in the crypto space if I was brand new to crypto and how I would double divers to find this to be successful in the long term and I'm also going to do a on how to pick good all coins and how to find good low cap altcoins like I mentioned the spark point S. R. K. finding good hidden gems out of 8000 crypto currencies out there is extremely difficult to do I do mention some as I find them by pretty much.
All of my researcher all crap. So I'll also be doing on that on how I took out a crypto loan and save myself $100000 and how you can also earn a good annualized percent interest through the same account so there are people out there that have earned over $500000 paid interest just with these lending accounts so if you have a couple $0 in one of these lending accounts you could basically live off of that passive income and not even have to work which I know a lot of people out there are doing so I am going to be getting into a lot of different topics in the upcoming week.
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