Can you get rich trading crypto?

Can you get rich trading crypto?

By MadMaxx | Psycho Crypto | 14 Feb 2020


Possibly the most asked question online.

Everyone believes that crypto is the "key" to unlocking all their hidden wealth.

So they take a bunch of their savings, and with no education whatsoever (they were told that crypto ONLY goes up, so it's a no brainer) they jump head in into a coin that's thoughtlessly named. Something like HTY or something.

Then they buy like 1 million units of the thing because it's so cheap. And of course they lose.

Because they had no plan. They had no education. They just wanted to turn $10k into $1 billion and go and spit in Warren Buffets face. Who's spitting where now?

So can crypto really make you rich?

That depends on your definition of rich.

I personally believe that everyone should have a reason for trading crypto. That would control how much risk you take.

For instance, if your plan is to turn 10k into 30k in 4 months, you would take less risks than someone trying to turn 10 into 100 in that same time. Why? Because smaller percentages on your money give you great amounts. Not so much for the 10 dollar guy.

So back to the answer I was giving. Your definition of rich.

To me, a "rich" person is someone who can do what they want, when they want and can go anywhere they want in the world. They also live happier lives and don't stress the small stuff.

If that is your definition also, you can definitely become rich with crypto.

I don't like giving numbers out, but I started trading crypto in 2017, few months after Binance came out. I started with 2k USD, and I have turned that into a solid 5 figures today. I will hit 6 figures by the end of this year, should I play my cards right.(spoiler: I will.)

Ok. So how can you achieve this success also?

Simple. Have a plan.

Not just for your trading, but for WHY you're trading. If you want to see if it's possible to make money trading financial markets, then you don't need 10000 dollars to prove yourself right. You can trade with 10 dollars, and if you make a consistent profit, you'd see that you CAN make money through financial markets.

If on the other hand, you're all about that yellow lambo life, you'll need a more sizeable starting amount and a decent chuck of time to invest into learning materials and practicing.

But the answer is yes: Crypto trading can make you rich.

Thanks for reading.


MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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