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I will be starting a new project called the $100 to $1,000,000 crypto wealth project.
Yeah, it sounds like a stupid, crazy, “dream on” idea. But I think it’s possible:-)
When you compare the Crypto market to the Stock markets, in terms of return on investment and the speed of the ROI, Crypto definitely comes first.
I’m saying this based on the explosive growth we’ve witnessed in the past few years on many crypto assets such as Bitcoin, Ethereum and many others.
On any day, (including weekends), a typical crypto asset can potentially move multiple percentages in an upwards or downward direction.
Due to the sheer volume and volatility in the crypto markets, there’s always an ongoing opportunity to profit (or lose) from Crypto.
This also means we get a chance to potentially make multiple gains during a 24-hour period.
I know it sounds so unrealistic right now. But I want to just explain some of the ideas on how I aim to accomplish this goal.
Here are some of the ways I’m thinking…
- Research into various strategies that will enable me to grow a small account, ie scalping, and day trading strategies.
- Diversify my portfolio, for example, invest in multiple different assets, with the aim (and hope) that at least some of them will make gains.
- Use leverage features available on some Crypto exchanges, to multiply gains
- Re-invest and compound my profits each time, as a result making the investments larger each time.
This post was just about some initial introduction and brainstorming on the project.
I intend to create more posts to document my journey on this project.