Be a Crypto Millionaire in 1 Year (even if the market sucks)

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your chances of becoming a crypto millionaire are almost zero the reason is most people look for the easiest path possible if that's what you're looking for you're better off watching a different video but if you're truly looking to capitalize on the next wave of technology before it's too late then this video is for you as new and exciting the crypto business is it's just that business so let's look at lessons from the past to find the best path to crypto millions see the crypto scene has been compared to everything from tulipmania in the 17th century to the more recent dot-com bubble when i started looking at the many possible ways of becoming a crypto millionaire a different image floated into my mind i pictured gold rush miners hitting california in the 1840s and 50s hundreds of thousands of miners arrived from all over the planet hoping to scoop up on giant gold nuggets and become instant millionaires but the vast majority of them went home as poor as before or even poorer so who made money during this time of frenzied speculation in high hopes in general terms it was the people who looked at the situation differently either they found out things that others didn't know and took a smarter approach or they left the mining to other people and sold the essentials like food tools and clothing to miners at a huge markup how can you use these same principles to avoid pitfalls that have stopped so many people from making millions in web 3.

let's find out by looking at the most popular ways of making money in the space and what exactly they involve the crypto startup scene is hot funding is flowing into the space like never before there's almost limitless possibilities so where do you start the best place to start is by searching for an existing need finding that gap in the market this could be like acquainting when they realized that crypto users needed a simple largely automated way of tracking the tax on their crypto transactions they saw an existing need and they filled it the blockchain has been around for more than a decade already but it still feels so fresh and new there's still opportunities that no one has thought of yet or that could be done better think about the sticking point what is overly frustrating or complex for you for me i'd say getting money into d5 and the issue of scams are at the very top of my list these are clear problems the next step is to find out why they haven't been solved yet or you look at the data what are the key problems that crypto owners currently suffer from well 40 of traders mentioned security as their key concern others mention high fees and poor customer support solve a problem that currently exists and you've got a great basis for a profitable business so what does it take to make a million dollars here current crypto on-ramps charge between two and five dollars per transaction at two dollars you'd need around twenty thousand customers making just two transactions a month to generate a million dollars in one year or maybe you get into the scam detection business and start auditing crypto projects for five thousand dollars a pop find 200 customers and that million is yours of course this isn't without some risk it's such a fluid and fast-moving industry that can change overnight imagine if new regulations were introduced and made your company obsolete or if cutting-edge technology meant your services were no longer needed it's impossible to think of every future outcome in this industry so all you can do is make a plan with the information available and just start the crypto business i run is on information and research i created a membership that will get you access to coaching every single day trade signals research reports and a community to help answer any questions you might have in the entire space members will tell you there's nothing like this on the internet for the price and i did that for a very specific reason i saw that groups with comparable quality we're charging hundreds of dollars a month and i wanted to see if it was possible to do the same thing for as little as ten dollars and guess what i discovered a gap that wasn't being filled that'll be linked in the description if you're looking to check it out now when people think about making a million in crypto they're typically thinking about investing or mining because we've heard the stories at the start of 2021 it was estimated that the number of bitcoin millionaires rose from 25 000 to 100 000 in just three months so what did professional investors do to try and maximize the chance of making money when investing in cryptocurrencies they stick to the same basic principles used in traditional investments first they diversify buying a few tokens they can closely follow rather than pinning all their hopes on one single project truly understanding all of the news events of a crypto can give you a massive advantage over other investors second they invest in cryptos that serve a purpose there are thousands of crypto projects if you're investing in one you better choose one that actually solves a problem a good question is how much do you need to invest in bitcoin to make a million in the future if you'd invested just ten dollars in bitcoin at the start of 2011 you'd made more than a million dollars by 2022.

If you join in 2018 you'd need about 450 000 to have a million now the price of bitcoin in five years is anyone's guess however you'll likely need a few hundred grand invested to hit that million dollar mark in a relatively short period of time now how about mining is it still worth the effort to mine a cryptocurrency now there are a few variables that you have to consider when getting into mining the price and hash rate of your rig which is basically how fast the rig runs electricity cost and the price of the crypto that you're mining the variables mean that your profits can swing wildly right now using a popular bitcoin mining rig with average u.s electricity cost it would actually take several years just to make your money back this isn't to say that mining couldn't be a good long-term business but it's unlikely to make you a million in one year without a massive upfront investment nfts have had quite the year we went from nfts being this kind of obscure term to every single artist college kid and their mother trying to sell them it seems so easy pay someone on fiverr like 2 500 bucks to generate some images and then sell them for millions that's it right well it certainly has happened it's become too easy you need to be a little bit more creative but before we talk about how to be creative i want to cover how you won't likely become an nft millionaire and that's by playing games where you earn nfts players in these games typically only manage to grind their way to small earnings sure it's possible to get in early on a game and see crazy price appreciation but that's not the kind of luck that you want to bank your financial future on now it's possible to trade nfts and make some serious money but this does come with a major caveat it is a lot of work everyone i know who is consistently successful at nft trading looks at it like a full-time job they're spending eight to ten hours a day in discord servers and sweet talking discord mods to get them on whitelist it's possible but it's not something easily done by spending 30 minutes a day and then there's building your own nfts again it's very doable to make money here but you need to be creative no one wants your 10 000 jpeg penguins just because they're for sale you want to check at least one of these boxes first real world value what can you attach to your nfts a membership a pass a key of some sort how can you build a legitimate community that others aren't building two legit art if you're an actual artist creating pieces with meaning and you can communicate that effectively you'll have a much easier time finding fans a promising future that you can actually make happen we see many nft projects looking to build their own metaverse or do something huge and exciting but maybe have no programming experience this can be exciting but we need to be realistic what exciting future can you promise to holders that you can actually deliver that you actually have a chance of achieving let's look at a few examples of people who have made fortunes creating and selling nfts nyla hayes has sold digital art worth almost seven million dollars to date her images of women with elongated necks have struck a chord with the public she made use of unique artwork but it's not just art that's used as the basis of nfts irene is an instagram influencer from singapore she decided to sell her photos as nfts rather than post them on social media this has earned her more than five million dollars she made use of her large following next we have the strange case of sultan this student has been taking selfies every day since 2017 for a reason that he hasn't revealed but then he began listing them as nfts and people began buying i mean prices were initially three dollars each because who couldn't resist buying one of this guy's random selfies this eventually made him a millionaire when his collection went viral and the price of each selfie rose to nearly one eighth the problem is he doesn't know why people are buying selfies but i can tell you exactly why it's because it's unique creative and it feels authentic it doesn't feel like a cash grab so it's possible to make a million from selling nfts but in order to do so you have to use what you have and think outside of what's already being done copying will only ever make you a watered-down version of whatever the original is if you're interested in purchasing nfts or other digital assets check out my channel sponsor ftx there you can buy digital assets for as much as 85 cheaper imagine that nfps that don't have insane gas fees and whenever you make a trade over 10 on ftx you get paid back in free crypto the more you trade the more you earn that will be linked down below now millions of people all over the planet are fascinated by cryptocurrencies they all want to know more but there's a major problem it's overwhelming and there's a ton of bad information could you make your crypto million from educating others on certain aspects of the industry the answer is yes but what if you're not already a finance expert how can you teach people it's actually fairly simple i've seen this done very successfully you take people along with you let's say you're a beginner in the space you get the basics of what a crypto is and that's about it there are literally millions of people in the exact same vote as you so start there it's relatable start with the honesty that you don't know everything but you're working to learn more we all are none of us know everything and start with the basic fundamentals what is a blockchain what are the various cryptos become fluent in vitalik memes learn everything you can about each basic piece until you can explain it simply again positioning yourself as someone who is also still learning taking others along with you on this exciting ride newbies actually have an advantage because you remember what it's like to not know something experts often don't that's why you often see a scientist who can't really explain very well what they're working on and then write about it make videos or speak on the subject another method would be to become an expert in something very specific maybe that's crypto startups technical analysis trading strategies or nft waifus aim to know as much as you possibly can about one area and this will allow you to find insights that others simply don't see in this niche on youtube you can earn about 14 per 1000 views conservatively at that rate you'd need to rack up about 72 million views to make one million dollars but realistically you can make a million with more like 30 million views considering sponsors and affiliates that's still a lot of views but we're talking about a million dollars my biggest piece of advice when it comes to content is to just start it's going to be bad at first you might as well just get the crap out of the way go watch an old video of mine if you want to cringe now fun fact as much as 20 of all bitcoin has been lost since the cryptocurrency began it sounds weird now when a single bitcoin is expensive but we need to bear in mind that for several years these things were virtually worthless i personally have several thousand dollars in bitcoin from 2013 locked away that i will never get access to but this isn't the case for everyone of the more than 100 billion dollars in lost bitcoin it's estimated that as much as 4 billion is totally recoverable and people are getting paid big bucks for this service literally how it works is someone will have a specialized computer surprisingly not all that different from a bitcoin mining rig they then use that computer to crack bitcoin wallets with brute force and this is actually feasible especially if the owner remembers any part of their lost password now as much as half of the cracked wallets end up having no bitcoin in them but others have multiple millions of dollars so if you can crack one you can get a healthy share of the reward then go ahead and celebrate with a pizza or two there are literally hundreds of ways to become a millionaire in this exciting growing space and if you want to increase the odds of that next millionaire being you you have to be willing to think outside the box how can you solve a problem be new and creative and help others achieve their goals if you can do this you will be successful now the question is where can you go to find out more about the fundamentals of cryptocurrencies for that i recommend checking out this video where i put everything you need to know into an easy to digest format

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