Who doesn’t dream of becoming a millionaire without slaving for ten years on their business and sacrificing their time, money and mental health? If you’re thinking of one day acquiring wealth through passive income, give cryptocurrencies a try.
Investing in cryptocurrency is a hot topic. People all over the world including celebrities seem to have a thing for digital money. We all know that Tesla’s creator, Elon Musk bought a billion worth of cryptos in 2021, which made investing in cryptocurrencies very appealing to the general population.
However, you may be wondering which cryptocurrency has more potential of maximizing your profit in years.
You probably guessed it by now. Bitcoin is the no. 1 cryptocurrency that has a tremendous impact on your wealth. It can make you a millionaire!
However, there are other coins out there willing to work hard for your money.
Ethereum
My previous post on why Ethereum is a good investment showed that ETH is a strong cryptocurrency. Launched in 2015 by Vitalik Buterin, it has increased its price from $0.311 to $4.800 in 2021. Recently, ETH has been stable at $1300.
For the early ETH investors, things look pretty good. Their ROI reached 300% in 2022, meaning their wealth has quadrupled each year since 2015.
In general, predictions are fairly good for Ethereum.
Bloomberg financial analyst, Mike McGlone says ETH’s price could increase to $4000 a token by the end of this year.
Thus, if you’re interested in Ethereum, take heed of these encouraging predictions and put some money into it. Remember to never invest more than you can afford to lose.
Revolve Games (RPG)
Revolve Games is a blockchain-based platform for gaming and winning financial rewards. Its native coin is RPG.
Users in this game can obtain boosters and level their NFTs up by performing well. This in turn will increase their earnings.
In this game, players can own and rent land on different planets and build on top of these lands. RPG’s price is $0.02, with a 24-hour trading volume of $13,434 as of October 2022.
The predictions are good for RPGs. Analysts think that Revolve Games will be the biggest player in the blockchain-based gaming industry in the years to come.
Chainlink (LINK)
The altcoin is considered one of the safest, most reliable coins to invest in. That’s because its value dropped only 85% from its all-time high compared to other coins whose value dropped 90%. LINK has a price of $7.27 per coin and a market cap of $3.3 billion which makes it the 26th most valuable coin.
It is good to invest in this cryptocurrency because, as we’ve seen above, it’s a more stable, more reliable altcoin.
Binance Coin (BNB)
If you want to become a crypto millionaire give Binance Coin a chance.
Binance Coin functions on the Binance Smart Chain, the second largest ecosystem after Ethereum. Its native cryptocurrency is BNB and is considered the least-losing crypto on the bear market.
BNB’s price is currently $284, with a 24-hour trading volume of $494 million. The altcoin has a market cap of around $46.6 billion, which makes it the 5th most valuable cryptocurrency in the world. If you’d like to invest in BNB, check out their website and remember to read its white paper first.
Dogecoin (DOGE)
Dogecoin (known as ‘the meme coin’) is a cryptocurrency that can help you become a millionaire. That’s because it’s as popular as Bitcoin and has a strong following online. We all know that the more popular the token, the more investors are willing to pay for it.
Dogecoin was launched in 2013 when it was selling at a very low price of $0.0002 per token. Its popularity increased when Elon Musk endorsed it through a series of Tweets. This led to a price of $0.74 in 2021 which means, it went up by $370.000.
Due to its popularity and growth, users are now hurrying to invest in it. If you’re interested in putting your hard-earned money on this coin, you’ll benefit from a discount of 90% as seen on dogecoin.com.
Shiba Inu (SHIB)
Much like Dogecoin, Shiba Inu’s popularity comes from the fact that it is based on a dog meme. Dogecoin was not taken seriously at first but after its popularity grew (thanks to Tesla’s CEO) more people started investing in it. That’s what happened with SHIB, too. Dog enthusiasts all over the world saw the value in Shiba Inu and due to it having a strong community (an important aspect of a token’s success), they put their money on it, assuming it will grow. And it did.
According to Coin Market Cap, Shiba Inu was trading at a low of $0.0000000005 per coin in 2020. However, in 2021, just a year later, it rose to $0.00008! This amounts to 15% capital gains in less than a year.
If you want to invest in Shiba Inu and see what the fuss is all about, check out their website and remember that it is a token. As a token, SHIB runs on Ethereum’s network which makes it a decentralized cryptocurrency.
Becoming a cryptocurrency millionaire
If you’re reading this, I assume you want to know how long it takes to become a millionaire by investing in these cryptocurrencies. The main thing to consider here is not which coin will make you millions but how much time you’re willing to invest. Hold your coin for at least 3 years until you can see a significant increase in your money.
If you’re sceptical about starting a cryptocurrency investment or you think that the crypto market is too volatile for you to dip your toes into, check out the following stories. They are examples of average Joes who took a risk and tried their luck at a cryptocurrency investment that later brought them millions of dollars in profit.
Glauber Contessato
In 2021 when Glauber heard about Dogecoin, he decided to try his luck and put some money into it. Because he had no disposable income to start investing, he sold his stocks and borrowed money from the Robinhood app to buy Dogecoin.
When Musk endorsed Dogecoin in January 2022, its price skyrocketed which made Contessato a millionaire in almost a year since he started investing.
Erik Finman, Washington DC
At 11, Erik was walking in a protest with his older brother when he saw someone wearing a Bitcoin t-shirt. When Erik asked his brother about it, he answered ‘It’s a coin that is gonna bring down Wall Street.’
Inspired by this statement, Erik decided to invest the $1000 check given by his grandmother for his birthday. He put all this money on Bitcoin. (which was selling at $10 in 2011)
In 10 years, Finman accumulated a little bit over a million dollars. He later sold $100.000 worth of bitcoins and started Botangle, an education platform. Botangle sold for 300 bitcoins which lead to an increase in the young man’s wealth.
This story is proof that you don’t have to be older, more experienced or financially savy to start investing in cryptos. You just need courage, determination and a lot of patience to wait until you make a profit (and you will).
Rachel Siegel, NY
Rachel, a former teacher from NY decided to put $25 on bitcoins after she attended an after-party for a crypto conference in 2017. Five years later, Rachel became a millionaire and founded Crypto Finally, a platform that works toward the mass adoption of blockchain technology.
Tommy and James, NY
Tommy and James were two wedding photographers who became jobless due to the Covid-19 pandemic. However, their luck changed in February 2022. At a friend’s advice, they decided to roll the dice on the Shiba Inu coin.
In a few weeks, the token’s price skyrocketed which brought a 300% increase in their investment. Two months later, the entire family was investing in SHIB which led to them becoming overnight millionaires.
Conclusion
There are many coins (or tokens) that are known to bring a profit and even help you become a millionaire. Bitcoin is not the only cryptocurrency endowed with this power. Among others, Ethereum, Binance coin and Dogecoin can make a profit in a few years.
However, before investing in any of them, make sure you know what you’re getting into. Read the cryptocurrency’s white paper, check out its reviews on GlassNode or YouTube and do not invest more than you’re willing to lose.
Author’s Bio
Marlena is a freelance writer and technology enthusiast with an interest in business, health, and cryptocurrencies. She has written for Thrive Global, Life Hack and Medium. You can contact her on Twitter at @MarlenaEeva.