Remember that friend I was helping out getting into crypto and staking COTI which has literally taken months due to mini road blocks at every turn? Well we finally have got it done after HTX (Huobi) allowed deposits and withdrawals to open up again.
The really good news is he is already in profit mainly down to when we bought COTI at $0.082c a few weeks back. The price has now risen to $0.1127 each so his stake is already in profit by $165. I think I was more excited than he was because this is seriously good news because we normally never buy at the bottom or close to it. I am not saying we are at the bottom yet either, but at lest he knows what it feels like to be in the green and is a positive start.
The really good part about this is he has no clue what he is sitting on and what type of value he should expect to see when we close out this cycle next year. He is at least thinking long term and I have talked him into a multiple cycle investment. Next year I will have him remove his initial $600 investment and deposit that back as FIAT via the same route he entered crypto so he satisfies the taxman and never brings back another cent out into this country.
I know he bought some Ethereum many years ago and he never listened because I had told him to wait which eventually saw him panic selling and losing a large chunk of his investment. Crypto is not easy and those that are too eager normally pay a hefty price and this is a good lesson to get out of the way.
His plan is simple and the timings are almost perfect because he started with a small investment of around $600. His stake which is now earning roughly 6% will be ready to sell when we see the next ATH's hopefully at the back end of next year. How much will his $600 be worth we have no idea and I would happily estimate anywhere between $6K and $60K which sounds kind of nuts achieving this in only 12-15 months. The cycle timing for any crypto investment could not be any better as we know we are now heading into the main event for this cycle.
I still believe anyone can make it in crypto as long as you give yourself at least 2 cycles without ever diluting your stake. An 8-10 year time frame is not a huge time frame considering what is on offer. If you invest wisely and compound your earnings any result is possible and I am trying to prove that too myself from gong from 0 -$1 million in two cycles or as quickly as possible. If I had sold after the first cycle and bought back this would or could have happened far sooner, but we live and learn to fight another day and those same mistakes will not be made again.
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