You can absolutely make serious money in crypto, even if you start now. The key is to learn how to invest first and figure out which projects are solid versus potential scams. Many people jump in without knowledge and lose money. Instead, consider micro-investing to learn. This means investing between $0.10 to $1 instead of $100 or $1000. Many successful meme coin traders don’t make large trades; they often work with small amounts to limit their risk. Start with small investments, seek knowledge, and test your strategies with little investment. Remember, it’s risky out there, so try to learn before committing larger amounts.
It’s doable. Think of it this way: you’re ahead of many who don’t even consider it yet. Start slow. If you want to gamble on shitcoins, go for it, but expect luck to be on your side. A 3 or 4x return is good. A 5-10x is rare. But within all this, you could lose big a few times. Don’t invest everything, or you might end up losing it all like Terra did.
This is a technique that could get you up to a comfortable amount. Not investment advice, just how I would start from zero.
FYI: You don’t even have to invest if you don’t want. I could talk about how to get involved through mining and educational resources.
$100 mark:
Start by putting in $100. Take profits every time you reach 30% growth, reinvesting the earnings into stable assets like ETH or BTC until you’ve recouped.
$1,000 mark:
Once you hit $1,000. Split half into DeFi projects and diversify about 75% of the remaining into solid top projects. Use the leftover amount on the wildest shitcoin you can find. Plenty of tools can help, but be careful not to invest too heavily and exit quickly if you profit.
$10,000 mark:
Continue this pattern until you reach $10,000, always taking profits when you see significant growth. Don’t let greed get to you. If you hit 12x to 80x growth, take your original investment out. With the extra $10k, choose 8-10 reliable projects and refrain from checking them frequently. Clear your wallet of distractions. Focus on your risky investments and DeFi options. Use tools to link your wallets if you want to keep an eye on your investments.
Tired of all this? Take a break, wait for the next bull run, and potentially sit comfortably with $50,000 to $100,000 in a few years.
If you want to hear about the $10k to a quarter-million strategy, let me know. I could discuss more advanced terms like dolphins, sharks, whales, yield farms, and liquidity pools.
What does being rich mean? Start with $1,000 and if you can 5x your investment, you’re at $5,000. Do it again to reach $25,000. Repeat and take that $1,000 to $125,000. I’ve experienced many 100x returns during the last cycle. It was a full-time job for me; 10+ hours a day consistently. Sometimes I even woke up at odd hours to catch trades.
You have numerous ways to grow your wealth, from trading BTC with leverage to letting your portfolio grow through multiple cycles. Making 10x each run with significant investments is definitely achievable, but be aware that it won’t be a walk in the park. Learn about potential scams along the way.
@Amelia
How much have you gained in crypto? You can message me if you’d rather not say publicly.
Dacey said:
@Amelia
How much have you gained in crypto? You can message me if you’d rather not say publicly.
I’m currently at $500,000. The recent bull run just kicked off, lasting around 10-12 months each time after BTC makes new highs. I began with $500 during the last upswing.
@Amelia
How long did it take you to get to $500,000?
Dacey said:
@Amelia
How long did it take you to get to $500,000?
Around 14 months.
Share your wallet addresses if you have a concentrated amount. Remember, don’t trust anyone who refuses to share. If they’ve claimed a number, they should show transaction proof (not just pictures). It’s about transparency in this space.
P.S. I’m not pushing you to share yours. I’m just saying for the benefit of others to avoid getting scammed.
@Angel
I only cash out $500k out of a potential $5 million. I didn’t even trade that remarkably well. I made $100k on Nexo doing BTC transactions. They don’t take US traders anymore. My best hits were on Safemoon, Minidoge, and Cryptoblades. I’ve performed thousands of trades, holding over 35 ETH, 35 BSC wallets, 10 Polygon wallets, and 9 on Solana, along with some in Cosmos, Coinbase, and Crypto.com. Right now, I’m only keeping about $15k in Solana airdrop farming on platforms like Parcl, Kamino, and MarginFi. I trade forex now, which I’ve done for two years during the downturn. I used to trade forex with success before moving to crypto. With $500k, I now earn more with less risk in forex. My journey isn’t anything special, it’s just a product of dedication. You can find plenty of people online willing to teach you. Dabble in crypto and you risk losing, and that’s no casual hobby if you want success. You must truly put in the hours to compete. Sadly, a lot of individuals miss that point; they lack determination and knowledge, are too hasty or emotional, or simply unlucky. You must commit and trust that you can succeed without stopping. That’s how you make it. Some may not be cut out for it. You’ll know once you try. I still play a crypto game called Star Atlas, owning five ships from a couple of years back, which generates about $400 monthly, but that’s just for fun. I hope the game gets built out eventually. I’m not about to share my wallet details, as I have nothing to prove. I’m here to offer help when I can, focusing on professional trading tips because few manage to live off trading. I am grateful for the chance I’ve had.
Your future looks bright.
‘Rich’ is subjective. Your version of ‘rich’ may differ from others.
There’s still time to seek out profit opportunities, but don’t wait too long
Another Luna might emerge soon. I realize I’m not a financial advisor. This isn’t financial advice. Consider waiting for a 30% drop in BTC to find new coins - avoid those from the previous cycle, or step into the base ecosystem (consider how Coinbase’s involvement with BTC ETFs can raise attention for its L2 base). Keep an eye on the Atom ecosystem for potential airdrops; right now, sol cat meme coins seem to be strong, but I worry the momentum may not last long. The current surge in memes makes me think we’re nearing a tipping point. Fear and greed are at 90%.
Your chances of losing in the second market are pretty high. The title of your post shows it.
That’s a pretty naive question honestly.
Trying to get rich overnight through anything is just gambling, which is risky except for those lucky enough to hit the jackpot.
However, with time, given that fiat currencies are diminishing in value due to inflation and public debt, cryptocurrencies may take their place since they’re deflationary and decentralized. People who invest in exceptional cryptos are likely to boost their net worth over the years.
Will you be able to afford a luxury car? Maybe. But unless you can afford ten, buying one isn’t smart.
Focus on growing and securing your wealth, building generational wealth rather than vying with social media kids to see who can waste the most money.
You left when LUNA went down because you didn’t genuinely believe in the process. Crypto is good at shaking off those without true commitment, as they’re in it for quick profit. Those making money now? They persevered through hard times.
If I’m aiming to increase $10,000 to $50,000 within a 12-18 month time frame, I’d place $5,000 into BTC, $2,000 into Solana, and the remainder of $3,000 into AI and gaming narrative tokens.
Learn to trade and eliminate guesswork from the process. Investing in unsound coins and rug pulls will end up being costly.
Orin said:
Learn to trade and eliminate guesswork from the process. Investing in unsound coins and rug pulls will end up being costly.
Can you share any references?
Orin said:
Learn to trade and eliminate guesswork from the process. Investing in unsound coins and rug pulls will end up being costly.
Can you share any references?
I prefer not to post links here. But if you’re serious, send me a message, and I’d be happy to share some free advice.
A. Learn to read charts.
B. Use Trading View to track those charts.
C. Earn money as good coins appreciate while being alert to bad coins that decrease.
D. Stay updated with relevant news. I recommend Milk Road for newsletters and CryptoPanic for apps.
It’s essentially straightforward, but the effort is vital.
@Laine
I’d advise against trading quickly. If your practice money is doing well, then you’ve got potential, but I’d urge against trading in crypto as a newbie.