CRYPTO INVESTMENT TIPS: HOW TO BECOME A MILLIONAIRE BY INVESTING IN CRYPTOCURRENCY

Like any industry #investing has its tenet, which is market agnostic—that’s whether, in the stock market or real estate or #cryptocurrency market, the principle holds in all similar situations.

And this is what many young crypto investors fail to pay attention to, likely because of the volatile and speculative nature of the cryptocurrency market, many assume it to be a kind of casino bang bet.

It’s this mindset that results in failed expectations and frustration amongst some unsuccessful crypto investors.

So, as you plan to jump on the bandwagon or if you are already investing in the cryptocurrency, be mindful of your mindset towards the investment.

If you approach the market from the perspective of traditional investment adhering to the core tenets of investment, you stand the chance of becoming a millionaire in just 6 months.

This is a fact.

In this article, I will condense the tenets of traditional investment Grahams’ winning philosophy to show you how to become a millionaire by investing in cryptocurrency within six months.

Here we will discuss how to create a holding plan—through the lens of investment portfolio planning.

Traditionally, an investment portfolio is a collection of assets.

For a cryptocurrency investment plan—your holding plan should be a portfolio design to take full advantage of what the cryptocurrency ecosystem can offer in terms of volatility, Decentralize Applications and a wide variety of assets.

These unique features of the cryptocurrency landscape place one in a position to make a huge return on investment within a brief span, unlike traditional investment instruments.
Okay, here are the steps to create a holding plan that will make you a millionaire:

1.Consider your current financial state:
Creating a holding plan is more than just making a list of coins to buy and hold.
First, consider your current financial situation.

So, you need to have an honest dialogue with yourself—by looking at your pressing financial needs, income and expenditures to know how best to adjust your lifestyle to raise the funds you will invest in cryptocurrency.

Another important thing you need to do is to define your timeline and how much risk you’re willing to take and what sacrifices you need to make to raise the funds to invest in cryptocurrency.

But know you do not have to have a lot of money to invest in cryptocurrency, you can start with just NGN 5,000 ($10), maybe you can map out that every end of the week that you will invest $10 within 3 months, and

this very investment can earn you around $1500 to $8000 if you invest in the right coins.

2.Set financial Goals:
The next step in creating your holding plan is to define your goals. Why are you investing? What are you hoping to earn money for? And how much do you expect to earn?

Do the math and make your projection base on the previous historical price data of the coins you want to invest in to know if their past performance shows a promising path.
And this can fit within your goal time horizon.

3.Take care of your psychology:
Unlike traditional portfolio management that doesn’t give you flexibility and easy access, like a crypto investment where you can get rid of your investment easily if you run out of patience.

Because of this, you need to make sure you deal with any factors that will trigger impulsive decision.
And how to avoid this is to decide how much risk you will take and you shouldn’t invest any funds like borrowed funds or your house rent.

It is not advisable to invest any funds that will put you in a tight corner; such as borrowed funds, house rent, or school fees.
It is better to save the funds and then invest them.
By doing this, you will manage your investment well and wait for the maturity period you targeted

4.Choose Trading Account:
Like in traditional investment there’s an advantage you gain by choosing the right account, the same applies to cryptocurrency, well we might not call it, account here, but choosing the right wallet and exchange platform is of great importance.

In choosing this you need to consider a lot of factors such as transaction fees, a wide variety of coins, security and other added values.

Some exchange platforms charge high fees, have fewer coins, platform glitches, and are prone to security compromise.

Typical you should be very concerned about security because the exchange platform offers a non-custodian wallet, in case they hacked the platform you will lose your assets.

Before choosing an exchange platform to create an account, you need to put this into consideration.

Well, I recommend @Binance, you can create an account by clicking on the link: https://accounts.binance.com/en/register?ref=BORZZSJK

The reason I recommend this exchange is that they have a wide variety of coins to select from alongside its powerful security features and amazing investment products to subscribe which ranges from savings, staking, and P2P trading.

Apart from wallets exchange platforms offer, you need custodian wallets, and I recommend Trustwallet and Metamask. You need both wallets to access a wide range of decentralized financial products that you can take advantage of to maximize your return on investment.

5.Assets Allocation:
The secret of turning small investment capital into a million dollar return on investment in cryptocurrency is diversification and sound assets allocation strategy.

Traditional investment wisdom is equally handy to come up with sound assets allocation strategy in cryptocurrency investment—that is value investing and income investing strategies.

Well, in cryptocurrency to adopt this you need to first conduct coin research to create a list of promising coins to invest in, to lesser the tasks of the research I will recommend you research by narrowing down on Top 30 ranking cryptocurrencies,

utility tokens and Defi tokens will lessen the burden and there are greater chances that you will select high yielding coins to add to your asset portfolio.

And don’t forget to include the big wings which are Binance coin, Bitcoin and Ethereum.

In other to do cryptocurrency research here are simple steps you can follow;
http://1.Read  the white paper to understand the crypto project

2.Try to find out the people behind the crypto project—what’s their track record
http://3.Market  product fit and use cases: check to know if the crypto project has achieved market product fit
4.What is the press saying about them, and who are their partners?

5.Check the active wallet address, is it increasing or decreasing?
6.Check to know if the crypto project has strong media hype and community
7.Look into the historical data, market cap, and daily transaction volume

8.Find out what’s the emission rate, token supply cap and token distribution
http://9.Run  code analysis.

Coin research is the pinnacle of building high yielding crypto asset portfolio, because while at it you will discover promising coins that tend 2 pump
An important factor you need to know is how to use traditional investment wisdom to build a high yielding crypto asset portfolio

Ok, let’s run a quick one on this.

Making a million-dollar with your crypto asset portfolio is possible if you adopt these ageless investment strategies that the likes of warrant Buffet used to grow their assets.

Though we use these strategies when investing in stock, they can also be handy when investing in cryptocurrency.

Here is how it is done:

Value investing: the principle behind value investing is simple; buy stocks that are cheaper than they should be.

This applies in the cryptocurrency this way, buying promising coins that the price is within the range of 0.0025 cents to 1.75 Dollar.

Like in the stock market, finding stocks that are underprice takes a lot of research on the fundamentals of the underlying companies.

Also, in the cryptocurrency market the same scenario plays out, but to lessen the tasks you need to focus more on utility coins and Defi coins, than any other tokens, to select the major promising ones

—there are greater chances you will discover coins that will do 10x price action compare to other types of coins.

Why should you zero your search on coins their price is within 0.0025 to 1.75 Dollar?
The reason is that when you buy the coins, you will get more units, which will have a significant Return on Investment if the price rises.

For instance, if RSR is at 0.080 and Aave is 350. And, you have $50 you want to invest. You will get 625 units of RSR with $50, while with the same amount you will get 0.142857 units of Aave.

If for six months both coins rise by 350% for RSR, you will make $225, while for Aave you will make $174.99.
Hope you get it now?

The next strategy is always to invest with a margin of safety.
The margin of safety is the principle of buying assets/coins at a significant discount to their intrinsic value,

which is thought to not only provide high return opportunities but also minimize the downside risk of an investment.

In simple terms, the goal is to wait for a major market correction to buy, normally within the month, there will be a major market correction.
So be patient and wait when this happens to buy the coins.

Income Investing: Your goal here is to include in your crypto asset portfolio those coins that in their white paper that state that the holders of the coin will periodically get Airdrops if the individual holds a certain quantity of the coins.

Though, before you settle for the coins you need to look at the metrics, if the coin shows a promising trajectory, you might include the coin amongst the assets you want to hold.

6.10x Your Return on investment:
Don’t buy the coins and keep them idle, take advantage of Defi (Decentralize financial products) to increase the return on investment.

There are many Defi products like Staking, Liquidity mining and Savings.
The interest you will earn by either putting the coins in savings or staking will increase the units of the coin.

To access Defi products that will 10x your return on investment you need to download @TrustWalletApp and @MetaMask wallet, if you are using @Binance you can access some of these products on the home page of the App.

7.Monitor your investment and rebalance the assets:
After putting together an asset portfolio, the management process begins. This includes monitoring the investments and measuring the portfolio’s performance relative to your goal or target earning.

One of the thing you will do to monitor the assets, try to dis-invest from low-performing asset and invest the proceeds to new promising coins that are recently released.

Typically, every six months new coins are launched in the crypto market, so take the opportunity of this to achieve your targeted earning or financial goal.

Another thing you need to do to achieve your targeted earning is to rebalance the assets by selling coins that have reached their targets and buying new coins that offer greater upside potential.

To learn more, I have created an Investment club where I help investors to become profitable. You can join this club by clicking on the link: https://t.me/mrchino_inc