Topic: Grow your wealth with cryptocurrency. (Read 243 times)

Op you've made some great outlines on what could prompt and how we could grow in wealth but let me dissect a bit.
1) Hardworking and steady grinding: You should always understand that a journey of a thousand miles begins with a mile so,
It helps you to develop to resist distractions and weaknesses but to muscle you up to encouragement of achieving great values as much energy you invested.

2) Efficient spending: Your ability to spend at most valuables than worthless things would enhance your potentials in both financial and personality growth in the sense that you'd be engaged on meaningful things that would produce you profits in either connections, knowledge and financial portfolios. So you can always utilize and find things around you valuable as assets which I may say.

3) Planning: We've always had this word that the way we dress our bed is how we'd lay on it. So while we're living in our presents today and living a portion to architect increments to our incomes is calling to create wealths through savings.

4) Investment: To grow in finance, we need to earn more possibly on diverses so that we can always secure stable financial inflow in different varieties that we can set up for a long term goal.

Growing of wealth with cryptocurrency, the vast majority have nothing to do with the system because it involves risky tasks and most of them have experience the hardship when they've finally liquidated their accounts, the next step is becoming vigilant and always ready to take good odds. Growth is rapid and it can happen to anyone in the system, don't give up for steady focusing on the bright side of winning and also becoming ambitious to create utilities for ourselves.

Normally everybody know say e mk sense to grow ur money for cryptocurrency, for so many reasons especially with the help wey crypto dey render give us, so if we bring our mind just invest for crypto, we don make am, even some of these rich ones dem wey we get for our country today, dem too dey also dey get their money from crypto even our politicians dem but dem go dey deceive people say crypto no be wetin person go involved themselves into but na very reliable source for dem, so if na me I go like advice anybody wey go ask me concerning crypto, I go tell the person say even u go get any other work, try to involve ur self for crypto because e dey really save lives o in terms of emergency etc, so as u dey earn, remember to also to invest in crypto for future use o

No, I think many people have grow deir wealth before crypto came to exist, but d easiest way to grow ur wealth dis days is to have knowledge of crypto and no wen to buy and hold until d price move to ur direction before u can sell to make some money. I believe u no d situation we are facing in d country now, and to grow wealth dis day dey very hard unless u put hand for all those bad bad things which is not good as a future young girls and boys like us but d opportunity to grow wealth is in crypto if u no ur way.
Na because u never get d knowledge of crypto, dat is y u said u can't try invest in crypto because, many people in our land today has use dis crypto to established many companies dat is functioning to increase deir wealth but u will not no dat dey are into crypto investment to support deir business. One thing u don't no about life is dat, if u want to move forward in life do everything possible within ur power never to return back to square one because, depending on one source dis days can make u to return back to square one, so take a good step to save some money to invest in crypto so dat u can improve ur wealth like other.

Di summary of wetin I fit talk for dis thread of growing wealth with cryptocurrency be say, first na bitcoin na im de sure and reliable pass for cryptocurrency, so e de better to focus mind on am. Again due to di volatility of bitcoin, person no suppose carry all em funds put for inside, because em no de like real estate wey you dey sure say di value no de come down. You fit lose your money for bitcoin, just like you fit to also gain for inside, because di risk de plenty. Di best thing na to invest di money wey you don put aside, so if di market de experience bear run, you no go too worry, because you know say after dat one na bull run, and you go fit cash in.

Lastly, to grow wealth with bitcoin investment e need patience and plenty knowledge of how e de work, odawise di person fit lose of of im money for inside. E no de advisable to borrow money take start bitcoin trading or investment.



 

You have made some excellent points, however borrowing money to invest in cryptocurrencies is a bad idea. We are all aware of the risk and the unpredictability involved, so if you want to give advice on how people might increase their wealth through cryptocurrency, you shouldn't suggest that they borrow money to begin with. Investing in cryptocurrencies can be difficult at times, especially if you want to invest in alternative coins. This is because there are many fake coins on the market right now, and it can be difficult to spot a legitimate project during a bull market. How do you plan to repay your debt if you take out a loan and then invest in a fake project and get scammed

Cryptocurrency investment is a risky investment with a 50/50 chance of success so it is always advisable to invest with money you can afford to lose.


As you mentioned, investing a portion of your income in cryptocurrencies is a good way to diversify your sources of income and build your wealth, but setting aside 50% of your salary seems excessive because we all have obligations to fulfil and many people make average salaries. For example, you wouldn't expect someone making N100,000 to invest half of that amount in cryptocurrencies when he has other urgent needs to take care of. I don't think 50% is a good idea because some of us have families to support and we are aware of how the economy is doing; things are even more expensive than they used to be. Instead, I believe that it should be up to the individual to determine how much money he can put into cryptocurrency each month without it negatively affecting his ability to make ends meet.

Op, But the first question wey I go use answer your post be say, do you have to invest in crypto currency before you fit grow your wealth. Na rhetorical question sha.

As e dey good to grow your wealth with cryptocurrency, e dey confirm say no be everybody get that small mind to even withstand the volatility wey dey the market. Including the stablecoins o. Although, we wey dey highly disciplined as an entrepreneur no dey get shaking to try any investment platform including crypto but how many people get the mind? Even traders o..

So;
1. I think, e no dey necessary even though e good wella to invest in crypto even as a trader o.
2. Person suppose look at his tolerance level for any kind investment wey e wan do out there to grow hin wealth. Whether na Gold hin wan dey buy keep or land, since e dey almost always appreciate.

The end goal be say, as we they introduce crypto give pepsin, we supposed they join am with the intricacies and downside wey dey follow am come so that we go all put our head for that side too.

But overall. I enjoyed your subject OP! Thumbs up.

Like you know, bitcoin is different. Bitcoin should be seen more as an investment than something risky like trading or gambling (I mean it should also not be seen like most altcoins). If you are able to analyze the market using a monthly chart and relate it to halving and the coming United States bitcoin ETF that many US companies wanted United States SEC to approval and also with the low the price of bitcoin now, it is better to invest more on bitcoin just like you invest on other assets like gold. The only time bitcoin investment should not be encouraged is when we are at highly bullish market already that surpass all-time-high significantly.

That's why I dey advise people not to invest what dey can't afford to lose in crypto investment, but invest d way u no go too feel am wen u no get d results your want from d investment than to embrace your correction to move on.
E dey easy, If u mean am say u want to grow your wealth, and all u need to do is to look for potential coins that will not disappoint wen u invest d money because there are some coins u will invest through out 3 or 4 years u no go see any improvement in your financial life but if u invest am for BTC and u leave am there like 3 years before u can sell, I think there will be massive change in your wealth.
Those factors you identify here so are very important if truly anyone want to grow his or her wealth with cryptocurrency, because you have to take the risk to invest that money to any coins of your choice, and exercise patience to wait for the price of that particular coins to rise to your wish before you can sell to make cash and save some cash for another bear to come for you to invest again.

What does this mean?

To borrow money to invest is not a good idea, you are correct. The best is to invest your money on bitcoin instead of borrowing. But I think what the OP meant is that people should plan ahead, instead of sudden means to invest which can result to collecting loan which is bad because the market may still fall further. Not only that the market can still fall further, the market may not fall but may neither rise until a long period of time has passed, like 5 months after halving. The profit of the loan will be increasing as time goes on.

It is good to be mindful of the coins people should invest, I will prefer bitcoin. Some people can have other preference as some like to diversify. But altcoins are riskier and more volatile. Before investing on other coins, DYOR.

Further more about loan, although it depends. Assuming someone are receiving a salary of $2000 monthly and the person wants to invest $1000 on bitcoin, the person can go for a loan of $500 if he has $500. The person can even borrow the $1000 and pay back after he receives his next salary. The scenario can be more complex than this, but you can understand what I am implying.

It would be foolish to borrow a loan that you do not have other source of income to pay back but to be depending on the coins you invested on to help in paying back the loan, that is foolishness.

He better you invest money where you fit lose, because collecting loans to invest in cryptocurrency is not advisable is better you get another way to get money to invest because getting a loan to invest in coins and everyone knows how the market is volatile the price can change anytime, increase or decrease, i didn't mean collecting loans is bad but is risky too because if the price of crypto buy drop you will be finding a way to pay back the loans, and you don't have any place again, and you will affect you for selling some of your property to pay the bills, and there is many place to invest not only crypto, you can't just invest all your fund in one place. Because of the risk involved, because any investment include risk.

Nor be lie you talk.  E get plenty young Nigerians wey don grow their wealth and e nor even be through crypto. Like Oyibo talk there are a thousand and one ways to kill a rat. Na so e still be for wealth creation. So fo we country men dey into importation, stock exchange, Forex Trading. Real Estate, Agriculture, Supply Chain, manufacturing etc. I intentionally left of tech.

This one you talk one, sweet me for belle. And na here wey be say pipo get problem because them lack proper education about the cryptocurrency investment. Na the wrong mindset na him dem carry take shook head inside so. Dem get totally wrong entry strategy.

This advise dem just be like general knowledge, as I see your title I think say I go see some cheats code dem on how to grow wealth for cryptocurency and specifically how to do dem but this one dem wey you write so na just normal talk dem wey person supposed know. While we dey on the mata on making plans, make person no go think say taking loans na better thing to do. Many people dun lose everything dem get because of this loan mata to invest inside cryptocurency. Every crypto get a possibility to fail so no go dey trust anyone as you fit wake up tomorrow hear say dis one dun die or people no like am again so the price go begin fall badly.


To make money for cryptocurency you need money first as na so the market dun dey grow reach because when you get enough money to throw at the market nothing wey dey happen go too shake you and this one go give you mind to invest more and hold your invest until you dun realized better gain dem. You also need better capital to make money for here as na only few people wey dey get luck buy coin wey nobody sabi and at the end of the day dem cashout majorly as the coin dem burst enter everybody radar. If you wan blow na to dey source for funds now and dey DCA into Bitcoin and maybe other coins wey you like and wait for bull market to start, make your investment dem begin grow.

This one depends on the source of your income, your encouragement na gud one sha but talking of grow wealth through cryptocurrency for a middle class earner go dey very impossible because the way things are going now e no easy becus the income no dey even do them na manage dey dey do to survive.

Cryptocurrency investment no be small money they use do am but still they get other investment wey dey go do with the little money dey have and dey go dey move fine.

Dis growing of wealth through cryptocurrencies no dey easy as you take talk am o. Many times for d forum dem dey advise us say make we only invest money wey we fit lose because say the market no dey trustworthy and e fit go beyond person expectations. The risk wey dey involved no be here o, and na only d financially buoyant ones fit do am without having any fear of losing all their money.

And again, even if you don go research about a particular project wry you dey reason say e go make you get money for the bull season, dem fit fail still because nobody knows tomorrow and everything for market na base on speculations and past events wey don happen before. Nobody want make their investment fail, but dat risk sometimes, we just have to take am to become successful for somethings for dis life.

Additional, i except to see some other risk bearing factors that should be observed in cryptocurrency which could also serve as precautionary measures needed to take in other to make wealth in cryptocurrency, some of these factors are as follows: risk, patience, time, invested currency, time frame, means of storage, foresight on  digital investments, it's something very easy to make wealth in cryptocurrency but there are requirements and procedures that guides this process, which if we must make wealth must have the secret understanding of the underlying demands on what is required in making wealth in cryptocurrency, holding is one of the key means if you buy the dip using DCA.

There are many investments, not just crypto, I must tell you, if you have all it takes just be versatile because it is not a good idea to have all your money stuck in a particular investment, We know that real estate is booming today, this is a good invest too, if you consider crypto as your best investment is not bad, but it should be bitcoin because of it's reliability, and you must hold for a long-term, you should know that bitcoin is not gambling, what drives the price of bitcoin, is the investors, and the question is how many people are ready to hold there btc even when the price is declining or when they have pressing needs, I think they are few, so if I may say, bitcoin to me is good, accumulate as much as you can afford and be steadfast, I believe the time is now if you can, but make sure you have other little investments too that you can fall back to if challenges occur.

Anybody fit grow wealth no be only crypto users. If you want to grow wealth then you go need to dey financially prudent and dat one go make you no spend money unnecessarily. And you go get investment acumen so that you can build small money into big money by investing what you have, not keeping it in the bank.

No be until you invest all your money inside crypto and wait for next circle of halving be say you don do investment and moreover people dey invest wrongly by buying coins wey don dey pack up already. In any case if someone want to invest inside cryptocurrency, e just better make you zero your mind invest am for bitcoin, altcoins fit take you back to square 1 no matter your research before investing.

I brought this topic for those who don't know how to grow wealth to use this advantage to learn from those who have grow massive wealth from cryptocurrency investment. It will be a good thing for majority of cryptocurrency users to know how to use decentralized currency to eliminate poverty from their life and other people around them.

                                           What  is wealth?
Wealth is an accumulation of valuable economic resources that can be measured as real goods or money value. Every human want to grow financially in their various environments, but some know how to grow little while some don't know how to grow massive wealth that will make them wealthy from the rest of their life through cryptocurrency.


                   Steps that will help you to grow your wealth:
(1) start by making a plan: Don't wait until bear season come before you will start looking for loans to collect before you can invest in cryptocurrency, because it will not help you to grow your wealth. Once investors enter bull season, start making your plan, how to get the money to invest in cryptocurrency when bear season show up so that you will be part of those that will grow their wealth.  And how much you will invest in the bear season and where the price will reach before you can buy and hold, and where the price will rise to before you can sell to grow your wealth.
(2)Build your emergency fund: Building your emergency fund is like you are building your house to prevent rain during the raining season, because you prepared for it that there will be rain during the raining season, likewise cryptocurrency, when you save some money just have it in mind that there will be bear market no matter how long the bull take place in the market but just endure to hold the emergency fund very well so that you can use them to grow your wealth.
(3) Up your earnings: If you have been living comfortable on your current salary and you received an increase or you got promoted, it will be an opportunity for you to grow your wealth easily, if you can invest half of the salary in cryptocurrency when the price is low in the market, and it will make you not to depend on one source than to put mind on two sources where incomes will be coming for you to grow your wealth.
(4)Automate your financial life: Do everything possible to eliminate all the bills or debts reducing money from your hand, and balance for the opportunity to come so that you can embrace it easy when bear market occur.  And in the process of making savings for the bear season to come before you can invest, ensure you take your time to study the coins very well to know the one you will invest your money to grow your wealth in the future. Do you think cryptocurrency users need to grow wealth?