In 2021, one 12-year-old made $6 million and another made $400,000 selling cryptocurrency NFTs, and many others became overnight millionaires. Robert Contesto also known as the Dogecoin Millionaire literally made millions of dollars almost overnight.
So how did these people become millionaires and make money with crypto and can you do it too? In the latest video, Joe Parys, an entrepreneur in cryptocurrency, has shared the top 5 best strategies to win big with crypto, and the best part is that anyone can learn and apply these strategies.
Let’s dive right into this video with our first way to win big with crypto and that is with cryptocurrency NFTs. Just one month ago, an Indonesian 22-year-old made $1 million by selling NFT selfies on OpenSea. This Indonesian college student has reportedly become a millionaire by selling NFT versions of his selfies at OpenSea’s NFT marketplace.
One of the best ways to multiply your money with cryptocurrency and to win big is by getting into new NFT projects early.
Let’s get started with that second strategy, which is going to be building a diverse portfolio. It’s very difficult to track new altcoins within your wallet, especially if you have them spread out everywhere.
Coinstats is an all-in-one platform for managing all of your crypto and DeFi assets. This is where you can put everything together, and give you a very nice portfolio.
The strategy of how to build out a winning portfolio. The first part of building a winning portfolio is going to be never risking more than you can afford to lose. And the second part of building a winning portfolio is going to be diversification.
Buy Red, Sell Green
The third strategy to winning big with cryptocurrency is going to be buying the red and selling the green. If we take a look at our current chart of Bitcoin at the beginning of 2022, you can see that all the way last year we had approximately $69,000 and we are now down deep in the red right at around $30,000 to $40,000.
The truth is most new investors end up buying in the green and then selling in the red. Unfortunately, they do the exact opposite of what you should be doing with crypto.
This is the ultimate time to buy when things are deep in the red compared to when things are in the green. That is the time that you want to be selling.
Navigating Your Emotions
The fourth strategy to win with cryptocurrency is going to be navigating your emotions. At the time of this recording, we are in extreme fear.
When your emotion is telling you to sell get out of the market, this is too much to take. That could be an indicator that you’re actually nearing a bottom and when your emotion is saying: you’re a genius, you’re gonna keep getting rich and everything is amazing! That could be an indicator potentially to take some off the table.
There are always exceptions to this rule. This is where you have to really study the markets and understand exactly what’s happening. Because there are so many different factors that go into buying and selling these assets.
However, as a bonus strategy, here for getting your emotions in check just holding on may be the best strategy. This way, you don’t have to worry about your emotions as much as you’re truly just in this for the long run and you don’t really ever plan on selling.
Getting In Early
The fifth and final strategy to winning big with cryptocurrency is going to be getting in early. Here we are on my website and I’ve re-designed this because I want to share with you and teach you the journey that I’ve been on for the last five years.