As of now most of people going behind crypto investing and crypto mining such as Bitcoin mining, Ethereum mining etc… It’s not advisable to go blindly in the path everyone goes.
Please be honest and tell me; do you like to invest in crypto currencies to lose money? I am not.
While some people make their dreams come true, many people lose a lot of money by investing in crypto without knowing the basics. When Bitcoin rose up in 2017, I also invested. First, I earned a lot. I lost everything because I didn’t know how to do it correct. We experience the same thing over and over again. Bitcoin rose to $ 60K with a big gain and then fell. It is currently trading above the $ 50K level.
If you still think that investing in Bitcoin at these levels will make you rich, you are thinking of something similar to millions of people.
I’m not saying “Bitcoin is a bad investment, you lose all your money.” If the goal is to get rich, you need to know that different methods still exist. Going blind in the path everyone is going is not a good strategy.
Is it easy to Investing in Bitcoin?
When Bitcoin was new, buying it was complicated. There was not enough information about it and there was no environment where crypto could be bought with confidence. In the early days the risk was very high and that is why those who invested in crypto made huge profits.
Today, there is almost no difference between buying goods from a grocery store and buying bitcoin from the crypto market. We can buy cryptocurrency from hundreds of thousands of exchange platforms. The home always succeeds when it comes to building a system that is easily accessible to everyone.
Here you can see the statics about major crypto investors.
The ratio of crypto investors to country population:
- Ukraine: 12.75% +-
- Russia: 11.93% +-
- Venezuela: 10.35% +-
- Kenya: 8.57% +-
- US: 8.35 % +-
* Statics may be vary with the market updates
When crypto price going up, the market is also growing rapidly. You can understand the crypto market size by looking at figures here.
- Bitcoin market cap: $974 B
- Gold market cap: $11.7 T
- S&P500 market cap: $38.4 T
- The global crypto market cap: $2.5 T
* Statics may be vary with the market updates
As large companies began to invest in Bitcoin and accept payments, the volatility of Bitcoin began to diminish. Here, through crypto investments, those companies try to protect themselves from the effects of inflation and gain a share of such a vast market among the people.
Value of Bitcoin
What determines the value? how? What is the value of gold or what is the difference between other metals? There is no revenue generating structure behind the shares. You buy a piece of code and it has no physical value.
The price of any product is determined by the supply and demand balance. Everyone expects the next buyer to pay a higher price. The problem of valuing such a large market could lead to a major global crisis affecting the entire world. Perhaps the next financial crisis will be due to the cryptocurrency market.
How can you be wealthy without Bitcoin?
Even before the introduction of Bitcoin, people were rich. The wealth of some people has accelerated due to the cryptocurrency process. That is why many people in the world are focusing on crypto.
Nevertheless, there are still basic methods by which real value and perhaps wealth can be obtained fast and steady.
- Start and developing a business:
Although the risk of bankruptcy is high, the fastest way for entrepreneurs with confidence and commitment is to start their own business. In the past, many entrepreneurs started from scratch and became one of the richest people in the world.
You do not have to be in the top ten richest people in the world. If you have enough wealth, you can live your life comfortably.
- Investing in stocks:
Another method is the parts that have value behind them. It’s like starting your own business. In this case, you do not need to do anything to grow the company. Others are thinking about you, working and making money. All you need to do is give them an outlet and the support they need to keep going.
You need capital to invest. Once you start investing systematically, your wealth will grow gradually.
- Real estate:
The best and oldest way is to have a land or a house. Wherever the population grows, the demand for housing increases, and as demand increases, so do their prices.
Although it may seem that you need a lot of money to start an investment, many people here are able to get rich without money. In particular, they take advantage of low interest rates to increase their wealth by buying, renovating, re-valuating, or renting out homes. As demand increases, prices easily return to previous levels and your wealth grows steadily.
There is a great benefit to doing a little research on each of the subjects mentioned above, identifying opportunities and investing as much as you can. The opportunity to see everyone at once is nothing but magic. In a capitalist economy, not everyone can be rich at once.
Cryptocurrency do not suddenly disappear from our lives and sometimes it will be the most important investment tool in our life in the future. However, it will not be able to offer the same incredible benefits as when it first came out.
Aside from the above, the biggest investment you can make is self-investment. The more you learn and improve, the more opportunities you can see and make better decisions.
I hope that you will make the right and best decisions on your journey to becoming rich.