How to Make Your Millions with Cryptocurrencies as the Market Teases You?

My Personal Account and Latest Activities that You Need to Know

I f you read my earlier article on How I Plan to Make My Millions in Cryptocurrency, I wanted to give a quick follow up on how that’s going.

Bitcoin crossed $10,000 earlier this week but now falling to $9402.17 as it has each time it approached this level.

Some traders are cashing out like they normally do.

I’ve gotten used to this.

So I continue to pick up some new cryptocurrencies to help diversify my account. With cryptocurrencies, it is hard to tell which cryptocurrency will spike 50X on the next bull run. So this is when you have to spread your eggs around a little.

Since the entire market is very immature, you shouldn’t put all your eggs in one basket. I think it’s best to spread your money around in different cryptocurrencies.

The first cryptocurrency Bitcoin was produced in January 2009 after the last financial crisis.

In comparison, the first recorded stock was identified in Europe in 820 AD.

Stocks are estimated to have been introduced much earlier in Asia.

Gold was first discovered in the United States in 1803 located in a gold mine along North Carolina.

In Australia, gold was first discovered in 1823 by a surveyor.

Ancient history shows gold was used in Turkey around 2450 B.C. and used in jewelry and boats.

The first use of gold was found in paleolithic caves as far back as 40,000 B.C. Various stories mention gold used in ancient times as a symbol of wealth.

Cryptocurrency is trying to enter this market to be recognized as a digital currency, a digital form of gold, or as another form of currency. Take your pick. This is how the world recognizes this new form of money that you can’t see, taste, or touch.

The U.S. Congress had digital assets in their first stimulus bill but this was pulled as the stimulus was passed.

More talk continues and I believe the U.S. will create their own digital currency one day. China is already testing its currency in select cities.

My Additions

I’m a long term investor and have the patience to wait.

Anything with investing, you need a little bit of patience. Your investment rarely makes a return in one or two days. Sometimes you need to sit back and wait for months, possibly even years at a time.

Look at investing like a marathon and not a sprint.

Personally I don’t like to day trade because of the taxes and with cryptocurrencies, it can get messy. So I continue to accumulate more cryptocurrencies.

Recently, I added three new cryptocurrencies, Pundi X, NIMIQ, and DigiByte.

These are all one cent or less than a penny reflecting my goal to have a million of these penny cryptocurrencies with the hope they reach a dollar.

Here is a brief summary of what they do.

Pundi X (NPXS)

Pundi X is a cryptocurrency that is geared to make transactions with businesses. Currently, mass production for the software system that accepts Pundi X is slated to reach more than 20 countries and deliver over 100,000 devices.

NIMIQ (NIM)

NIM is a cryptocurrency inspired by Bitcoin and runs in your computer browser. The idea behind this cryptocurrency is to work with the user and make the blockchain, user friendly. NIM is supposed to allow you to make purchases online, it’s a form of digital money and also allows you to make charitable donations.

DigiByte (DGB)

I have heard of DGB several times since I have followed Cryptocurrency YouTuber on YouTube. A majority of his videos are on DGB. When I first started investing a few years ago, I wasn’t interested in this cryptocurrency. I only started to sit back and understand this cryptocurrency a little more.

This is a peer to peer digital currency and there isn’t a CEO that runs the company. The cryptocurrency is faster than Bitcoin and even faster than Litecoin.

Only recently, there was talk that Coinbase would add this cryptocurrency to their platform. I’m sure once this happens, there is a chance we’ll see a spike in the price. The price has increased a little since news broke out about this cryptocurrency.

These are some other articles on cryptocurrency I encourage you to read:

What cryptocurrencies do you like?

Tom Handy is a top Investment and Bitcoin writer on Medium, and the father of two kids. He retired from the Army and sits on several non-profit boards. Tom is the top Yelper in his community and a top Google Guide. He’s on several social media channels and you can find him on Twitter @tomhandy1 and Instagram @tomhandy1.

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.

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