Do you want to become a crypto millionaire in the next 10 years?
If yes, then continue reading this article.
- 1 10 good habits to become a crypto millionaire in 10 years
- 1.1 1. Never stop learning:
- 1.2 2. Have a long-term mindset:
- 1.3 3. Have other sources of income
- 1.4 4. HODL
- 1.5 5. Dollar Cost Average(DCA)
- 1.6 6. Have a balanced portfolio
- 1.7 7. Do nothing/Don’t panic (avoid SOS/FOMO)
- 1.8 8. Hold your keys
- 1.9 9. Be security conscious
- 1.10 10. Diversify your portfolio
- 1.11 11. Retirement & inheritance planning
- 1.12 12. Don’t leverage trade
10 good habits to become a crypto millionaire in 10 years
1. Never stop learning:
Crypto never sleeps, so find as little as 15 minutes each day to stay updated about the crypto world. This will definitely change your life. You will spot opportunities before 90% of the world find them out.
2. Have a long-term mindset:
I tell people that if you can’t hold your crypto for at least 3 months, they should not bother buying it.
The truth is that you need to be able to see beyond the current day, month and year while holding your crypto.
We often overestimate what we can achieve in the short term while underestimating what we will achieve in the long term.
3. Have other sources of income
If you want to succeed in crypto, it’s cogent you have other sources of income.
Don’t become a full-time crypto day trader because 90% of them fail in the long term.
Still have your day job or run your business. They compliment your crypto investing and ensure you make the right decision.
Hold On Your Dear Life(HODL) is one of the most popular crypto jargon out there.
It simply means you buy your crypto, hold onto it for a long time, and never sell it.
Those that HODL Bitcoin since 2010 made more money than those that sold it way earlier.
It simply doing nothing with your crypto and making time play to your advantage.
5. Dollar Cost Average(DCA)
DCA simply means you buy or sell a specific amount of crypto within a predefined time.
For example; you can decide to buy $100 worth of Bitcoin every single day, week, or month for the next 1 year.
It’s a good way to get an average price for an asset and not just get in at a single price.
6. Have a balanced portfolio
This simply means you have a portfolio that contains:
- Low-risk assets (Stablecoins)
- Medium-risk assets (Bitcoin, Ethereum, and BNB)
- High-risk assets (Altcoins)
7. Do nothing/Don’t panic (avoid SOS/FOMO)
Learn to hold your crypto and do nothing
8. Hold your keys
Withdraw your coins from a crypto exchange to a self-hosted wallet
9. Be security conscious
Don’t brag about your crypto
10. Diversify your portfolio
Don’t hold only crypto.
Hold stocks, Forex, Commodities, Real estate, etc.
11. Retirement & inheritance planning
Have a plan to pass your crypto to your closest relatives in case of any emergency.
12. Don’t leverage trade
Leverage trade is the best way to lose all your money in crypto.
The market is highly manipulated.
Hence, I will suggest you stick to the spot market.
So that’s all.
I hope you benefit from this article.
Do have a wonderful week.