Everyone who enters the cryptocurrency market has one goal in their mind; to make a lot of money, change their lives and obtain financial freedom. The interesting thing is that the definition of this achievement is different for everyone. For some people, it could mean finally being able to escape from the heavy burden of debt and no longer living paycheck to paycheck. For other people, it could mean finally having enough money to have a downpayment towards their dream house. And for others, it could mean having enough money to retire, quit their job, or pursue whatever they are interested in.
The great thing about the Bitcoin and cryptocurrency market is that all of this is possible and more.
However, the question that everyone wants to know the answer to, is how they can make this dream a reality. The harsh truth is that there isn’t just one answer. In fact, most often it will involve several methods that will take a good amount of time to achieve.
Today’s article won’t give you the answers to that impossible question, instead, we will be talking about the signs or hints that show you are on the right path toward making it big in crypto. I fully believe that if you have these traits, and continue to do them for the long term; the crypto market will be very kind to you.
1. You’ve Fallen Down the Rabbit Hole
For you to make it in crypto, you need to first dive into this unknown world and fall down the rabbit hole of Bitcoin and crypto. Learning why it’s important, what makes it valuable, and also the potential it has to change the world. Along the way, you will also learn what money really is, how to budget and invest, and also how corrupt the world is.
Eventually, you will come to the conclusion that you can no longer imagine a world without Bitcoin. You also begin valuing your Bitcoin more than your fiat money. Surviving the crypto markets through several cycles will be one of the most challenging things you have ever done, and you will need to have strong conviction in this asset class.
2. You are well-versed in all things Crypto and Terminology
Not only do you need to fall down the rabbit hole, but you also need to be well-researched as well. Putting in the time to learn the terminology, what makes a project great and what is a scam, being an expert in sending transactions, taking self-custody, and navigating the crypto market.
These are all essential tools that will not only help you pick out the winners in the market but also protect you from losing everything.
3. You HODL for the long-term
To be successful in crypto you need to come in with the correct mindset. Those who are hoping to become rich overnight have a much higher chance to lose everything. Especially while investing in the most volatile financial asset class on Earth.
Many experts are predicting that the cryptocurrency market will someday cause the largest transfer of wealth that the world has ever seen. The only problem is that no one knows when this will happen. It could happen next year, 4 years from now, a decade later, or possibly never. One thing is for certain, people who decided they will have a long-term approach have a much better chance of being successful than those who are here just for a season.
4. You are Hunting for Airdrops
One of the great things about the cryptocurrency market is that there is free money everywhere if you just know where to look for it. One of these methods is crypto airdrops. By risking some initial crypto to perform certain tasks on new projects, you could become eligible to receive their airdrop.
Often times the value of these free airdrops will be thousands of dollars depending on your qualification level. With several airdrops throughout the year, some people are making a living solely by earning airdrops. A key thing to remember is that there is no guarantee that an airdrop will actually happen, and you could lose your initial investment.
5. You are Earning a Passive Income with Crypto
One of the best ways to become wealthy in the crypto market is to earn passive income. While in the past one of the most popular options was lending crypto via 3rd party services. That turned out to be a much more dangerous method than most were expecting. Instead earning a passive income through staking, something that is baked into the blockchain is a much safer route.
By locking up your crypto such as Ethereum, Polkadot, or Solana, you can earn a great passive income for doing little to no work. While the interest you are earning today might not seem that much. Once your crypto does a 10–20x during the next bull cycle, all of a sudden that interest you earned will become something much more substantial.
6. You have made Crypto one of your side hustles
If you have truly fallen down the rabbit hole of crypto, you will begin to think of methods that would allow you to accumulate even more crypto. You will begin considering starting your own crypto YouTube channel, a crypto blog, and much more.
The great thing is that once you have been in the crypto market long enough, you will have obtained a wealth of knowledge that is priceless to newcomers entering the market for the first time.
7. Continue Investing
Finally, it's important that you continue to invest through good times and bad. During the last crypto cycle, one of the darkest days was the March 2020 Covid price crash. Bitcoin’s price dropped by 50% in just a few hours. And there was a real belief that the death blow to the crypto market might have finally been dealt.
However, looking back we now know that was one of the best buying opportunities of a lifetime. People who bought during those times were able to completely transform their portfolios.
How about you? Can you think of any other signs that you’ll make it in crypto that I forgot
Read Exclusive Articles 1st on
or
As always, thank you for reading!
