Have you ever wondered how long it takes an average person to make their first million in cryptocurrency? Many believe it requires talent, vision, luck, and years of dedication. However, this is the true story of someone who achieved this feat in under a year, working part-time. Perhaps you're closer to that million than you think.
Introduction
Hello, everyone. I am BCHAN905. Many people come to the crypto space (B-Chain) to make money and potentially retire rich. If you're new to this, there are numerous ways to make money in crypto, including:
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Buying and selling at low prices
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Trading contracts
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Participating in pre-sales
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Investing in mainstream cryptocurrencies like BTC, ETH, or VCB
Today, I want to share a story about how an ordinary person earned their first RM1 million in the cryptocurrency world, using strategies that are replicable, with a dose of luck.
The Story of "A"
"A" is a friend I met at the gym. He works in the catering industry, which was significantly impacted by the pandemic. His income declined considerably in recent years. Interestingly, he consumes entirely different information compared to me. Because he doesn’t understand Chinese, he follows Western KOLs and focuses exclusively on Solana, ignoring everything else.
From Airdrops to Trading
Like many others, he works during the day and spends a few hours at night on crypto. Initially, he participated in airdrops, earning a few thousand dollars a year. However, by the beginning of last year, airdrops became less profitable, and he switched to trading at the end of the year. This proved to be a turning point. He began using a trading robot.
Robot Trading and NFTs
He uses a robot with DLMM to achieve a set rate mode. His involvement is minimal – he simply buys NFTs, receiving a share profit, potentially over a hundred dollars a month. He initially bought the NFT, using Robotics, for RM2,000. He called me in November when the price dropped to RM1,500, then RM1,000.
I sold his currency very quickly as I've lost a lot of money in NFTs. I'm not a big fan of NFTs due to their poor liquidity and high fees. However, the key is that the NFT's share is given in a currency called GB, which is not well-known in the Chinese circle.
The Rise of GB Coin
This GB coin's price has skyrocketed recently. The reason for this surge is the coin's destruction mechanism, facilitated by Bonfant's interest, where a portion is used to destroy the coin. The recent hype surrounding Bonfant has led to the destruction of over $100,000 worth of GB coins daily, which is the catalyst for GB's growth.
My friend bought GB at $0.02, prompted by the robot's requirements, and held onto it. He held it for a whole year. The currency price fluctuation before July was minimal, and it often went close to zero. It was almost a abandoned project. However, he primarily held it to support the robot's functionality, which provided him with daily profits.
Achieving the Million
Recently, with GB's surge, he took 0.5% and left the rest in the market. He now holds over RM1 million. Before this, he was a smallholder. Every time he made money, he invested $200-$300 into Solana.
His goal was simple: to earn 1 million RMB and retire. He has achieved this goal in almost a year. He also bought 3U and 5U worth of crypto. He is resistant to high-risk coins.
Lessons Learned
There are several valuable lessons to learn from his journey:
- Value for Money: He earned money using GB. The robot made money every day, allowing him to hold GB. GB was an extra benefit – as long as it didn't break the robot, he was fine.
- Project Understanding: He deeply understood the GB project. He participates in their Discord group, stays informed about the project's developments, and trusts the project.
- Strategic Stability: He consistently invested in what he trusted. When he had extra funds, he bought Solana.
In crypto, playing high-risk, high-reward projects is acceptable.
Risk Management and Investment Strategies
Everyone desires to get rich quickly. However, ensure that the money you risk won't significantly impact you. Proper fund allocation is essential. No one can predict the future. If you lose, you must accept it. Selling can be considered making money.
If you're new to crypto, allocate significant funds to relatively low-risk projects like Bitcoin or Ethereum. Alternatively, you can also play cash online. You may want to also take a look at my previous English video.
After that, allocate small funds to high-risk ventures like gambling or trading contracts. The loss might sting, but it shouldn't devastate you. However, the potential profits could far outweigh your investment. Remember, true success lies not in earning 100 times more than others, but in surviving the market.
Community and Resources
If you want to learn more about P&W projects, let me know in the comments. I'll share more of the stable projects that I am playing.
Since the WeChat group has been closed, it is only open to a small number of people in the new WeChat group.
If you're interested in contract trading, we have moved to DingDing. To join, use my VIX link to register and have at least 500U in your account. This helps to reduce the risk of the group being closed.
The group's deal results have been good lately. If you're interested in contract education, feel free to join.
That's all for today's video. See you next time.