Yesterday I was reading about the stories of people who had made massive profits from Bitcoins in a really short span of time. One of the millionaires wrote that firstly he found the idea of spending the real money on something like digital which only exists on a public ledger in cloud ludicrous. But when he read about the fact that the price of Bitcoin had risen up to 700% in 2017 since its launch and Ethereum (other cryptos) rise up to 3900% in no time, he was surprised and invested the huge money in Bitcoins (which obviously made him millionaire after a few months!). So, reading about the potential of Bitcoins and how the volatility can earn you huge profits might increase your interest in investing the Bitcoins. In this article, let us understand methods which can help you in becoming Bitcoin billionaire. Along with it, snippets of the success stories to pump up your hopes will also be mentioned.
Can Bitcoins Really Make You A Billionaire?
Tracking the past records, it can be advocated that Bitcoin is having a really high potential to make your wealth grow and become a billionaire. It can prove as the great opportunity of investment without taking the global economic condition in consideration. Introduced in 2009 by the pseudonymous Satoshi Nakamoto, Bitcoin was exchanged through its own payment network. Based on Blockchain technology, Bitcoin follows the decentralisation model where no intermediary is needed to back and manage the transaction between two parties. Digital currency based on a peer-to-peer network having no impact of global inflation can be considered an option of investment to earn huge profits. Undoubtedly, early birds have earned millions from investing in Bitcoins but according to many analysts, it is never too late to invest in Bitcoin because of the unique features it possesses and the gradually diversifying sector all across the world. Let us read some of the tips which can help you in becoming Bitcoin Billionaire.
Tips To Become A Bitcoin Billionaire
How to get rich from Bitcoin? In this section, I will try to describe several means for making money out of cryptocurrency and also Blockchain Technologies. Following tips are based on analysis of public registries and confirmed by some of the Bitcoin Billionaires.
- Trading: First and foremost method would be buying and selling the Bitcoins with the help of various crypto exchange platforms like exchanges (Coinbase, Binance, etc), OTC brokers, decentralised exchanges, peer-to-peer platforms and many more. If you had bought some of the coins in 2011 at $10 per Bitcoin price, then today you might be enjoying the fame of Billionaires. Either you can go for the highly risky (highly volatile Bitcoin) intraday trading or you can go for the long term investment plans and wait for the right time to sell the Bitcoins to earn massive profits.
- Strategise the Investment plan: Throwing the coin in a fish pond and waiting for the miracle to happen might not be the right approach in the crypto industry. You have to develop a written financial plan with an effective strategy based on historical trends and future prospects. You can follow the basic rule in the industry of investing when the prices of Bitcoin starts to rise, hold the coins till the growth stabilizes and then sell the coins for allocating the profits in another promising cryptocurrency available in the crypto marketplace. Demarcate your goals and targets beforehand in your financial plan.
- Invest in High Yield Investment Plans (HYIPs): Crypto doublers or the community who follows the shortcuts to double their cryptocurrencies might advise you to invest in some high yielding investment projects. You can invest in the promising ICOs but with the proper research of the authenticity with the help of given websites, whitepaper, team members, testimonies, licenses mentioned and many more. If you are lucky enough like that of Ether holders, you might become a Billionaire with minimal investment.
- Be a merchant: Do you know the fact that the first order placed with Bitcoins was that of two pizzas in exchange of 10,000 Bitcoins in 2010. Now, you can easily imagine the worth of those pizzas. So, if you are a merchant or any professional, you can ask for the payment in terms of Bitcoins or any other cryptocurrencies which might make you a Billionaire in the near future.
- Gambling: If you are a gamer either online or offline, daring enough to take the risks in Casino games, then you must try your hand in the Bitcoin gambling marketplace. It works like the traditional gambling but the money at stake got changed from fiat to Bitcoins and has the potential to make you a bitcoin millionaire overnight. But you must be careful with your money and spend only as much as you can afford to lose. This might be a shortcut but can effectively turn you to a Bitcoin Billionaire.
Stories Of A Bitcoin Billionaires
Some of the stories are associated with regular people who had made fortunes in crypto and became the Bitcoin Billionaires in no time by investing at the early stage of the launch of Bitcoin. These stories are primarily making the pans and shovels in the digital gold rush. You can also be lucky enough if you buy the bItcoins or other cryptocurrencies and the prices gradually emerge in the future (most probably they would emerge!). Some of the famous Bitcoin rich stories are:
- Erick Finman (Bitcoin millionaire kid): In 2011, Erick borrowed $1000 from his grandmother to invest in nascent stage currency, Bitcoin worth $12 per BTC. In the span of just two years, he became the youngest kid to earn the massive profits when Bitcoin hit $1200.
- Winklevoss Brothers: Twins were the earliest investors who earned the massive millions with the new groundbreaking technology-based Bitcoins.
- Peter Saddington: Peter bought the coins when the BTC was only $3 per coin back in 2011 and sold them when the BItcoin hit the price charts with $5500 within a few years earning the profit of almost 250,000%. Being a computer engineer and mathematic enthusiast, he said that an algorithm can never sink your money.
- Charlie Shrem: Charlie started as one of the first places to accept Bitcoin payments when Bitcoin was worth $3-4, slowly he had thousands of coins till the price reached $20. Later on, he expanded his business and now serving as one of the exchange platforms with the worth of multi-millions.
Beside Bitcoin millionaire stories, I must tell you that few of my friends bought 100 BTCs in 2010 when it was a few dollars worth and they sold it in 2017 with the worth of almost $20,000. Finally, luck hit their fortune and turned them into multi-millionaires in just seven years.
Thus it can be concluded that cryptocurrencies in the past have created a number of opportunities to become Billionaires and have the potential to make the same in future too. So, you can start with a small amount of money and when you start to earn a few of the profits, you can try for the big fish and become a Bitcoin billionaire.
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Tarulika is an engineering graduate and an eloquent crypto blogger. Being a digital economy supporter, she keeps herself updated with the course of the latest innovation in the crypto industry, Blockchain Technology, and the Internet of Things. Currently, she is dedicatedly curating the simpler and interesting content for crypto guides for beginners to accelerate the movement of the financial revolution. If you want to learn more about the cryptocurrencies, latest trends of blockchain-powered AI applications, you are free to follow her on LinkedIn.