Recently I watched a few videos on YouTube that had people who got into crypto trading and became millionaires. First of all, it is not easy money and they would have made an effort the second thing is that the time should also be favorable for someone to be able to be successful. Cryptocurrencies are unpredictable and people who are attaining success should have been either lucky or they would have followed the right strategy at the right moment.
It is not always about trading
People often think that money can be made only by trading cryptocurrencies when we talk about making money in the crypto world. That is not the case. Of course, many successful people did some trading and created wealth but the majority of the people don't create money without making use of an opportunity. For some people, this has been a loss too because they entered the crypto world at the wrong time. One of my office colleagues entered the crypto world by purchasing Bitcoin when the price was at an all-time high. After he invested the price of BTC came down by 50 percent and he booked a loss. This is a very common thing that can happen too.
Follow the demand
There is some demand created for certain trends and if that opportunity is utilized people can make money in the crypto world. The world operates in a way where someone who can solve a problem can make money. If there is a real-world problem that needs solving and if we have a crypto-based on blockchain use case that can solve that problem, then we might create a demand and a proper use case by providing a solution to the problem. We can even say that a trend might be created and many people come forward to solve similar problems. The first person who is doing this will be creating a path for everyone to follow.
Take the stories as inspiration
We should not get carried away by someone sharing a success story from their crypto experience. The success story might depend on several factors. We cannot say that those things can work out well for us. Maybe the other person was lucky and we may not have the same luck when we enter crypto. At the same time, we shouldn't take success in crypto for granted too. There are way more failed projects in the crypto space than the successful ones.
All we have to do is take the stories as an inspiration for us and we have to see what is the current trend and how we can make use of the current trend to create wealth in the crypto space. Someone who worked out for others may not work out for us too. We have to find things that can work for us and maybe that is unique to us. More than the luck factor putting in some effort will always give a good outcome.
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