Ever since I started investing in cryptocurrency, I realized just how easy it was to make money in this market. For me personally, I have tripled my initial investment of $7,500 dollars to over $24,000 dollars in less than two months.
Perhaps, I invested in an opportune time when the market was undergoing a heavy upward trend. It may be true that I was also lucky. Whatever the case was, my investment was not an outlier in the market. My cousins, who I convinced to invest in cryptocurrency, also had positive results of doubling their money.
In my last article, I wrote that it is important to think multiplicative in terms of investing in cryptocurrency. The gains that you make are all the same. It doesn’t matter if your one dollar investment becomes two dollars or one thousand dollars investment becomes two thousand dollars. They are the same in that your investment increased in value by a factor of 2.
Understanding how common it was for your investments to double in value in this market, a great idea occurred to me. If I had an initial investment of say $50,000 or $100,000; then tripling that amount would have given me $150,000 and $300,000 respectively!
This is a large sum of money, and if possible, is extremely life changing. I don’t know how long this market will continue its parabolic upward trend in price. What I do know is that the cryptocurrency market is relatively new, so I wanted to take some risks.
After a month long extensive study of cryptocurrency and experimenting with my own portfolio, I finally felt competent enough to ask my parents, uncles, and aunts for the initial capital needed for investing in cryptocurrency.
This was the start of an entrepreneurial endeavor by me and my cousins. Continue reading