Self-Made Crypto Millionaires: Real Success Stories
Cryptocurrencies have revolutionized the world economy but also changed the lives of many people. Mostly those who believed in them and bet on them. There are many stories which show there’s nothing impossible and a wise investment made at the right time can make you a millionaire overnight.
If crypto prices continue to rise further, for sure, more and more people will become rich. Small investments now in correct crypto can generate huge returns in the future. But there’s one burning question: how to learn which coins or tokens are going to succeed. The answer is no way. The crypto world is highly volatile and unforeseeable, so no one can predict exactly what will happen in the following 3 or 6 months.
Of course, you can study the industry closely, analyze the market and make predictions basing on this. As well, you can stick to the advice of experienced experts or follow the success stories of crypto kings. But, ultimately, everything comes down to taking a risk and lucky chance.
In this article, we will tell about 5 ordinary people, “mere mortals” like me and you, who took a chance and won. They invested in crypto coins when most of us didn’t even hear of Bitcoin. Today, they are self-made crypto millionaires with their own intriguing stories. We think it would be interesting for you to learn about their way to success.
So, meet the young and the brave who became rich on crypto trading and investing.
In 2011, Charlie Shrem studied at college when Bitcoin appeared. He began to buy coins at a ridiculous price. The young man acquired 500 coins at $3. The price grew further and he decided to get thousands more.
Soon, Shrem lost all his Bitcoins after the crypto service he was using crashed. Charlie made friends with Gareth Nelson who had similar frustrations. They together founded BitInstant. The company charged fees for making purchases with Bitcoin at over 700,000 stores.
One of BitInstant’s customers resold Bitcoins bought on the Silk Road, an illegal marketplace for drugs. That was the reason for Charlie’s imprisonment. He spent a year in Federal Jail and lost much of his money for paying lawyer’s fees.
Charlie has overcome all the challenges and now, he has grown his wealth to $45 million. He tells his entire crypto journey including his prison time in his Medium account.
A really inspiring story, isn’t it? Keep it up, Charlie!
The Lesson: Shrem not only took a chance on a new market, but he continued to stand by his choices and opinions despite the difficulties he met. Due to his persistence, he succeeded and saw great returns.
Roger Ver, a zealous Bitcoin devotee, is often called as “Bitcoin Jesus”. He is the richest Bitcoin millionaire and one of the first crypto investors. When he knew about Bitcoin, he spent all his time studying about it and slept only one hour a day. He ended up in the hospital and was medicated for proper sleep.
He was one of the early investors of Charlie Shrem’s BitInstant. Roger also invested millions into BitPay, Ripple, and Blockchain which brought him a giant profit. His company, MemoryDealer.com, was one of the first to accept Bitcoin payments.
The Lesson: Follow your passion and it could make your fortune!
In 2011, when Bitcoin cost only $12, Erik Finman invested a $1000 gift from his granny into Bitcoin. He was only 12 years old then. By 2013, Erik had $100,000 due to the soaring value of Bitcoin. Eventually, the investment made him a millionaire.
Erik is famous as a fierce opponent of the education system. Being a schoolboy, he made a deal with his parents that if he was a millionaire by the time he was 18 he would not attend college. Fate was on his side. So, after he made his significant profit, the high school student decided to leave school. He started his own business, a P2P tutoring service which he sold for 300 Bitcoin in 2015. By 2015 Erik became a millionaire being 18 years old. He is one of the youngest cryptocurrency success stories ever known.
The young man greatly believes in cryptocurrency potential. He sees it as one of the best and fastest ways for young people to raise great amounts of money.
The Lesson: Finman took a chance on Bitcoin before it was in high demand. He was brave enough to invest all his savings into crypto. And it was worth it.
Yifu Guo, a student from New York, started his way in cryptocurrencies by mining Bitcoin. Soon, Guo realized Bitcoin had potential and future. He quit school and in 2012 started the company that specialized in the building of mining hardware – Avalon. The miners produced by Avalon were 50 times faster than graphics cards and cost less. So, they became very popular and were sold out instantly and at a much higher price.
Actually, Guo became a millionaire on building the miners. Soon, many other companies started to build and sell mining hardware. But Guo was a pioneer in the industry.
The Lesson: It makes sense to get involved in any project as early as possible to have time for reaping benefits. The sooner is the better.
The next on the list is a guy who turned into a millionaire at the age of 25. Gardner, a two-time college dropout, got involved in cryptocurrencies in 2013. Then, his friend offered Jeremy to buy Bitcoin for some cash. Later, he out of interest got some more Bitcoins. The investment brought him great gains. In 2013, Gardner launched Augur, a prediction market protocol basing on the blockchain.
The young man’s growing understanding of crypto world potential encouraged him to found the Blockchain Education network. It comprised cryptocurrency clubs and societies at universities all around the world.
Today, Gardner works for the company Blockchain Capital advising it on cryptocurrency investments. The man doesn’t earn a salary but he gets a share of the company’s profits. Gardner lives in “Crypto Castle”, a three-bedroom house in Silicon Valley. The house has become a landing pad for dozens of crypto fans and entrepreneurs who visit San Francisco.
The Lesson: Be open to everything new, take a chance and learn the subject to succeed in the crypto world.
The stories above are just a few examples from the list that goes on and on. Though each of them is unique, all portray the same narrative. To succeed in the crypto world, you should follow your dream and take the risk. Still, while investing everyone should remember the rule: Never invest what you can’t afford to lose.
Join Crypto World and create your own success story. Yes, cryptocurrencies are unpredictable and mind-blowing, but they always reward those who believe in them!
Subscribe to newsletter
November 1, 2019
September 24, 2019
August 21, 2019