Updated: Mar 2
What you should do if you don't have the pockets of Tesla.
Cryptocurrencies are becoming more popular than ever with celebrity endorsements and fortune 500 companies like Tesla buying Bitcoin. In addition, Coinbase has recently gone public and will be exchanged on the Nasdaq. Wall Street is making its way to the cryptocurrency space. The masses are beginning to take part in this amazing opportunity. With Robinhood's recent drama investors are now curious about platforms like Coinbase. Coinbase going public brings legitimacy to the space. What does this mean for the everyday investor? There is an incredible opportunity to become an early adopter of tomorrow’s technology. With over 8,000 cryptocurrencies in existence its extremely difficult to be certain you're investing in the right projects. In fact, most people have only heard of Bitcoin and Dogecoin. People want to follow in the footsteps of the super wealthy like Elon Musk. Snoop Dogg recently jumped on the Dogecoin bandwagon as well. Meanwhile there are numerous cryptocurrency projects that are up over 1,000% this year. Very few people are talking about them. These are the people who become cryptonaires.
Let’s talk about Bitcoin and Dogecoin. Bitcoin is the world’s first and most popular cryptocurrency dominating the market by over 60%. In fact, the entire market moves with the price of Bitcoin. Google wasn't the first search engine but currently 5.5 billion searches are input each day. Is there a cryptocurrency more efficient than Bitcoin for transactions? Perhaps Google or Facebook silently have projects in the works. One might ask well how come the price doesn't reflect it? How come AltaVista was bigger than Google? Thinking outside the box is how cryptonaires will be made. It won't be done following the herd. Bitcoin uses 118 KWh per transaction and requires a process called mining. A single transaction can take several hours to complete. There is major discussion on whether Bitcoin is scalable over the next 10 years. No one can say for sure. However, MasterCard and the Federal Reserve's Janet Ellen publicly vouched against Bitcoin for the reasons listed above. Dogecoin happens to be a fork of Bitcoin. Hence, Dogecoin has the same inefficiencies. It's unlikely you'll become a cryptonaire solely investing in these two. Bitcoin has to double in price for you to double your investment. In short, today you’d need Bitcoin to reach $100k to double your investment. To seriously earn some cash you'd need bitcoin to reach $1,000,000 to earn any substantial money. So unless you’re Tesla you'll need to diversify into other projects to become a cryptonaire. Here at The Millionaire Mindset you can find our course detailing 10 solid projects and their strategic partnerships, leadership, price potential and our investing strategy on each of them. Think of it as a cheat sheet for a test in college. For example, if you copied our moves and bought Vechain at .002 you would've sold near .06 using our course. This was 30x on your investment! Meaning if you invested $1,000 you would've made $30,000. $5,000 would've made $150,000. Is there more opportunity? Of course.
Download this course ---> “10 Cryptocurrencies Set To Explode” !