【BREAKING】After earning 1M USD from Bitcoin My life has been changed | by Bixin | Jan, 2022

Bitcoin, a cryptocurrency has less than 12 years history, is making people obsessed.

It’s said that Bitcoin has fixed supply so its price would only goes up. I followed the trend but then I didn’t expect I made 5 years wages from that little thing!

Ones begin to get hooked on tech revolution as they watch American TV Series, so that willing to invest Bitcoin because of the faith of the fundamental of the blockchain technology

Some use a valuation model to value Bitcoin and think it is a perfect investment. Except for a having a car and living expenses, 99% of their assets are invested in Bitcoin

One of our wallet user shares invested Bitcoin and earned 1m USD. This episode he is invited to share his crypto journey and the 10 golden rules that he learnt.

50K to 1M in one year

Bitcoin has been a life changer

Jeffy, an IT worker

Frankly, I know about crypto for a long time already like 7 years ago. At first, I wasn’t keen. I thought it was so risky.

In 2017, my friend suggested that I could start to buy Bitcoin. While the market was bullish, I invested about 50k USD after I read the related news of it and studied the whitepaper.

I’m fearful of risk. No leverage, no contract, only spot. I remember one day I refreshed my Bixin Wallet app, and I saw Bitcoin rose up to 100K RMB. I was absolutely flattered. I felt like there were big chuck of money in my trousers pocket right that moment!

Then I learnt about mining.

But after reaching the top, Bitcoin quickly fell to $3,000. It was difficult for the mine owner to make a return, so he made a decision: rent out my computing power

Back at the time, I rent out a 180-day computing power pack, and I could mine 3 or 4 yuan of Bitcoin every day. After mining, it would be allocated to my wallet.

I did hold some Bitcoin but I didn’t buy at dip because I wanted to play safe.

Some of my friends made a lot of fortune just because they bought some Bitcoin at that period. They bought the dip.

Afterwards, one of my friends earned few Mil US dollars from contract trading, which makes me very jealous

I have also done some swing trade before. In October 2020, the price of Bitcoin was basically flat, adjusting back and forth between $10,000 and $11,000. I originally wanted to do some swings to make some money, but it went south. I lost few K USD at that time.

These are all previous investment attempts. Now that the amount of funds is relatively large, I don’t want to take too much risk, so I hold spot, do some contract with small amount to earn some living expenses, and enjoy the dividends brought by Bitcoin.

Then I invested some Altcoins. Earned some money but also lost some money. Overall it was profitable though.

I saw so many people got rich, but also unfortunately so many folks also went broke because of margin closeout.

My mentality changes since I made 1M in one year. Now I don’t consider jobs that I don’t like. I don’t rely on my wage to improve my life now. I only use my wage for my daily expenses..

I got a house and a car, and I formed my family. My properties are far from fancy but they are good enough for me.

After experiencing all the ups and downs of crypto, now my investment strategy is stable and solid. My family and my kids are all the reason. I can be able to take my kids for a short trip in summer and whatever makes us happy. I don’t need to worry about money.

To be honest there are so many people make more money than me in crypto. But I have a little conclusion to share:

1. Don’t invest more than you can afford to lose. Don’t use your much-needed funds, such as the money you’re going to use to pay for your child’s school fees or to buy a house in a hurry. Because crypto prices are highly volatile, you may not be able to get your money back in an emergency. Invest an amount that won’t get you into trouble if you lose.
2. Do not use high leverage. Many platforms offer high leverage trading, and it is easy for greedy people to fall into the trap. But unless you have a lot of experience with leveraged trading, your position may be liquidated.
3. Invest in mainstream coins and try to look at the long-term. Long term means from one year to 5 years, or even longer. People around me who have held bitcoin for a long time basically make it.
4. Develop realistic profit targets and exit strategies. This is not to maximize profits, but to increase your fiat purchasing power.
5. Once you are profitable, take out your initial investment. In this way, you can get your money back. Even if you lose, you will only lose the profit you made, and it will not affect your original life too much, otherwise it will not be worth the loss.
6. Learn about the risk-reward ratio. A coin is more likely to increase from $1 to $2 than from $1000 to $2000, even with a 100% increase. If your profit target has been achieved, there is no need to wait for some coins to go from 3k to 6k, although it can actually reach 6k, you are also running the risk of losing your profit because the market is unpredictable.
7. Do not randomly follow social media account recommendations to buy tokens or coins that you do not know about. Many people advises on social media, “Y coins will grow wildly soon” and so on, be careful, there are many traps. If you haven’t thoroughly researched the project, don’t follow these suggestions.
8. Keep passwords and private keys in a hardware wallet and keep your private keys safe. Never leave your passwords on exchanges as they could get hacked or go bankrupt. In this case, you lose everything and never get it.
9. Increase your crypto knowledge every day, including new protocols, new developments, new projects, new regulations, general sentiment, price models, etc. Because the industry market changes a lot, please also pay attention to the policies of various countries, especially some big countries, Their policies on cryptocurrencies can also cause volatility in the industry.
10. Control your emotions, don’t be too greedy or give up on yourself, there are profits and losses in investing, so formulate your strategy and learn from your mistakes. This is a long learning process.

In 2021, the price of cryptocurrencies continues to rise, more people and countries accept/adopt cryptocurrencies, such as El Salvador, and this popular trend continues to affect the traditional economy.

The Metaverse has opened up people’s infinite fantasy about the future virtual world, NFT has changed the financial boundary of traditional art, and cryptocurrencies have penetrated into the lives of more people, including the continuous expansion and improvement of encrypted transactions and payments, and the prosperity of the entire encrypted market. an unprecedented financial revolution.

Although they still have many hurdles to overcome before encryption technology can truly enter the mainstream market, looking forward to the future, encryption technology will realize greater potential and create greater value in the future, let us wait and see.