The infrastructure of cryptocurrencies is being built at an astonishing rate. During this current bear market, there are signs of massive growth behind the scenes. From Mobile apps to Bitcoin ATM’s. Exchanges making it more accessible to pay for Bitcoin via Credit card. From Blockstream Satellite to Stable coins. Everywhere you look there is brand new …
One of the greatest lessons that I have learned is how to have patience with money. Like starting an exercise routine. Saving money to increase the amount takes time. You would like to see results right away. Starting small and putting away small amounts can be daunting at first.
Learn the value of just waiting. You increase your chance of leverage of your finances. It’s a hard lesson. I know because there have been many times that my mind will say well know you need this or you need that. I had grown very accustomed two sectioning my paycheck before I even had received it. In my mind, I would say well a hundred dollars go for this, and $30 goes for that. I didn’t realize having this habit was costing me my freedom.
That’s all money is; it’s freedom. You could be someone with a lower-paying job and still save a little at a time and make a huge difference in your financial future. If you look at the way that will off individuals with money use their money, They know that saving and waiting is one of the most important habits to have.
That’s why you will see people.who do have money, will cut expenses as much as possible. They respect what they have. They shop at thrift stores, and they don’t buy retail. They are not big on buying the best and the newest. It is way more valuable to save for later times and look for bargains.
I was reading a book about developing habits. It made me realize that one of the most important practices that you can have is the ability to wait. In our current state of instant gratification, patience has put on the back burner in our society. We have on-demand entertainment. We want on demand gratification. So it’s no wonder that the art of being patient isn’t as prevalent as it used to be. As soon as you realize that this is what is holding you back. A whole world of possibilities is available.
The coming crypto tidal Wave
I have been watching for the last year the markets cryptomarkets. They have been mostly flat for quite some time, but behind the scenes, many large investors are getting involved. There has been no big move as of yet. I do believe it is coming and when it does come it will be a tidal wave of w wealth. For most people who got in at the beginning of 2017. It has been a long wait. To see some substantial gain. Anyone who has been able to Display any amount of patience will come out a winner this next Bull Run.
My feeling is that it’s just a matter of time or this build-up to happen. Most of the smart money has been building up for this massive move. Last Bull Run we saw the entire cryptocurrency market cap reach close to 900 billion. Most people thought that the crypto market would have passed a trillion by February. The only thing is is that the markets never go straight up. It decided to dip. The real money will be centered on all the individuals with the patience to endure. I fully expect to see a bull run at least twice the amount of the last one. So we wait, and we are patient. I feel that 2019 will be an exciting time for cryptocurrencies.
Interested in getting started with investing in cryptocurrencies? Let’s start you off with a Coinbase account. Coinbase is one of my favorite places to start. I feel that the ease of use is its strength. At the time of this writing, there are eight different coins to choose from on Coinbase. For 2019 it is rumored that they will be adding a lot more. Giving you plenty of choices to get started.
In the last two years, I have seen Bitcoin gain in investor confidence. I have watched the little guy, make thousands of dollars just by holding their coins. A digital Gold Rush of sorts. The reason that I am so excited about this time. Is it finally gives the average person a way to acquire extreme wealth.
I was very curious earlier today to see when I had started purchasing Bitcoin. How much it was worth when I bought it.
Earlier today I was going through my Coinbase account. I was looking at the amount a Bitcoin was when I had purchased it. I wanted to check up on the dates. To see how much Bitcoin was worth at that time. I found a transaction done back on August 25th, 2016. The amount of a Bitcoin at that time was $577.86.
Can you even believe it? I find it hard to believe that I have been able to watch this space flourish from $577.86 to the current price that it is today. No wonder so many people Have seen the income potential with cryptocurrency.
Currently, at the time of this writing, Bitcoin is around $6,307.12. The opportunity for saving and putting money away into Bitcoin has been extremely lucrative. For those investors that waited years for this time. Their patience has paid off. The increase in value has been like nothing we have ever seen. Even gold itself has not had this type of a gain.
The funny thing is, this isn’t even the highest amount that Bitcoin has been. According to livecoinwatch. com. Bitcoin was at its all-time high in December of 2017 when it reached $20,236.69. Bitcoin has room to grow as a tremendous asset. Currently, it has a market cap of 110 billion dollars.
The estimates in cryptocurrency in the next five years are expected to be in the trillions. Many times you will hear people say that there is not enough money. Not true at all. There is more than enough money to go around. Bitcoin has given the average person the advantage.
Never before in history Has it been so widely available to make money this easily. Anyone can invest even small amounts into this asset class.
Again, however, I must stress the importance of patience. Having the patience to sit through the good and the bad of this Market is essential. All of the newfound millionaires due to crypto had to learn this. This Market will not always be going straight up. But if you can have a realistic Outlook, you can find yourself amassing a large amount of wealth.
Just like the Gold Rush had given average people the metaphor for hope so has the new digital Gold Rush.
During the gold rush, you had to get to your location, brave elements, burglary, and starvation. Possibly you may have been lucky enough to have found gold. However, not many people were that lucky. Many walked away (or didn’t) with less than before. The new digital Gold Rush is available for anyone with an internet connection. We are now no longer limited to location or physicality. This is global. People from all walks of life and all different countries can invest and participate.
I feel that this will be one of the biggest wealth builders of our time. It has leveled the playing field for many individuals. It is why governments are becoming quite scared of its power. Any Country who does not jump on board with digital currency will only see their countries be left behind. Truthfully no country wants to see that happen. So slowly but surely they are trying to keep up with this fast-paced technology.
I am under the belief that this will run very high into the trillions. Giving way to the most significant transition of wealth that we have ever seen.
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Interested in getting started with cryptocurrencies? Let’s start you off with a Coinbase account. Coinbase is one of my favorite places to start. I feel that the ease of use is its strength. At the time of this writing, there are eight different coins to choose from on Coinbase. For 2019 it is rumored that they will be adding a lot more. Giving you plenty of choices to get started.
One of the fatal flaws that you can do to yourself in Crypto was having unrealistic expectations when Crypto started to make a huge run. I saw many Lambo memes. To the point that it got old. Most people getting in while there was a surge in interest wanted fast quick money. Lambos and more …
I have two daughters and a son. All of them in their twenties. One of the things I have shared with them is investing in Crypto.
Both my daughters have done well with investing. My son has been the hardest to convince. With time, I feel he will see investing in Crypto significant for his financial future. I have shared and taught them what I know. When I learn something new, I pass it on to them.
I am such a big believer in Cryptocurrency and Blockchain, in general, I tell them about it often. I was listening in on a conversation two friends were having about what they fear can happen in the world. What the future of civilization and its changes will be.
It was interesting to me that with each problem they talked about. In my mind, I saw a possible solution. I feel the same way with Cryptocurrencies. Although we are just in the idea stage of most of the Crypto projects. I see many people trying to solve some genuine and current problems.
This is why I felt it is essential to let my children know about Cryptos. They need to be aware of the many problems that Cryptos and Blockchain can solve.
I want them to have the advantage. I feel this will give my children a big help in the years to come. To be familiar with this new asset class.
On a visit from my oldest daughter and Grandson. She had by mistake, overdrawn on her bank account. Now the good news is that she wasn’t worried about not having any money. Since she had invested in Crypto, she knew she had a resource she could liquidate quickly. So we were able to go in, and she was able to liquidate some assets. She was able to make up for the funds she did not have.
Since my daughter knows that Cryptocurrencies are always open and are 24/7. She knew that there was no need for panic. It was one of the shining moments of Crypto. Solving her problem of lack of funds to finish out her trip. Although you want to keep your Cryptocurrency for as long as you can. Having it to liquidated at any time. Can always be helpful as well.
With Cryptocurrency there are no bankers hours. This is what attracted me to this asset in the first place. When I first started learning about Crypto in 2016. One of the things that drew me the most was how fast and secure transactions could be. Let’s say that you ended up receiving your check (an actual paper check) on a Friday, and you don’t get home until after your bank is closed.
Yes, there are convenient options like direct deposit, but not everybody has that option. With Cryptos this is solved. You wouldn’t have to wait for the weekend to get your money. Just like my daughter found out when she had her bank account overdrawn. She knew that she could acquire money quickly and easily, and without a fuss.
I remember listening to a YouTuber talk about what attracted him to Bitcoin. One of the things that he mentioned was how transactions would no longer take days. In some cases, the transactions could take 3 to 5 days to process. That’s a long wait for someone who needs their money. That was just one of the reasons that made me excited about Cryptocurrencies.
Thankfully my children have listened and have done well. I’m very proud of them, and I know that this new asset class will serve them well in the future. It’s one of the most exciting times and a shift in our financial system is coming. My advice to all that are reading is to learn as much as you can about this new asset class and how it will help you as well.
To get started with learning about cryptocurrencies I would suggest Udemy. They have some excellent teachers on the subject.
(The paragraph below does contain an affiliate link)
Interested in getting started in cryptocurrencies? Let’s start you off with a Coinbase account. Coinbase is one of my favorite places to start. I feel that the ease of use is its strength. At the time of this writing, there are eight different coins to choose from on Coinbase. For 2019 it is rumored that they will be adding a lot more. Giving you plenty of choices to get started.
I used to really admire how my grandma would put money away and forget about it. It was really funny to watch her come out with a wad of cash, and have totally forgotten about it. During her time, saving money was what you did. I myself have adopted Grandma’s technique. I have often put away money only to be surprised later that I even had it.
So it got me to thinking about Cryptos. How this would apply. I remember reading about an investor who had bought a certain amount of coins and just forgot about them. He lived in Venezuela and he was in a really bleek situation. To his surprise, he had forgot about the investment he had made. The coin he made his investment in was what he could afford. Half a cent at the time. A very cheap coin. So fortunately for him his investment was 10 times bigger when he came across his onlne wallet. Thankfully this meant that he could get himself and his family some much-needed supplies. It also gave him hope. Which was much needed at the moment.
So in a way it reminded me very much of Grandma’s saving tip. The reason that this sticks so much into my head is that when I was little I remember many times it was due to the saving tip that got us through some very hard times. Or what would have been a hard time if it hadnt been for the money she had stashed away,
Instead of spending it she would hide it. She would find $800 stashed in a book. $1,000 in a drawer. One time she found $6,000 under the carpet in a leather Bank bag. My point is, buying some Cryptos can be the same once you learn the basics of how to buy and put it away. All you do is wait and see. If you just want a very easy approach to get you started in investing in Crypto. It’s your money in a drawer you forgot you had. Sure you could put the money away like Grandma, the big difference with crypto is, just like stocks the amount can grow.
Sure it can lose value too. But let’s say you bought a coin or token for $0.05 a piece $100 worth of a five send coin or token.
You forgot about it. Maybe a year later you remember you own 2000 coins of whatever. Now it’s $0.35 a coin or token. You now have $700 instead of just the hundred.
Not bad. Sure you waited a year but if that had been a savings you never would have made that sort of return. I have watched this Market change. I remember in 2016 when aetherium was $12 per token and everyone was happy. Currently at the time of this writing it is 290 foretoken. Prices change quickly in crypto. So putting some away to see what it may be later may not be a bad idea.