I often see questions like "Is it still possible to play in the cryptocurrency world now?" and "How much money have you made in the cryptocurrency world?"
The first question is for beginners, considering whether the cryptocurrency circle is a potential industry, whether there are still opportunities, and whether it is too late to enter now.
The second question is to understand the actual earnings of cryptocurrency players and whether it is worth taking a chance.
Chuxiaolian has been in the cryptocurrency circle for nearly 4 years and believes that there are still more opportunities in the crypto market, but the stage of wild growth, getting rich overnight, and buying with eyes closed is over.
In the previous cryptocurrency circles, MEMEs could easily increase by a hundred times, and there were periodic hot airdrops, NFTs, inscriptions, etc., which provided opportunities to gain huge wealth in a short period of time.
In today’s cryptocurrency world, one needs to take one step at a time, and the way to increase assets is relatively slow, but this track has the potential to take off with the wind.
Bitcoin is known as digital gold. The current market value of gold is 18.4 trillion US dollars, and the market value of BTC is 1.3 trillion, with room for 14 times. If BTC continues to rise in the future, there is still a chance of 10+ times.
But choosing to believe is risky. If successful, you can get 10 times the return, but if you fail, the return will be zero. Only by believing in the trend can you see opportunities.
Any investment is risky. There is no such thing as making a huge profit, and there is no such thing as making money without doing anything. The crypto market may have the potential to achieve higher returns than other investment markets, but it does also have more uncertain risks.
New players should enter the market cautiously based on their own risk tolerance.
How much money have you made in the cryptocurrency world?
People who really make a lot of money will not reveal their earnings, and do not want to be remembered, so they just make money quietly. All the content showing off the balance and wealth is utilitarian.
Either sell training courses and set up a paid group, or make money by attracting buyers, or generate traffic to attract fans. If you have fans, you will be noticed by the project party and can take advertisements.
There are many people in the cryptocurrency world who make a lot of money, and they are all very low-key.
For example, CZ, He Yi, Justin Sun, these super bosses, have already achieved absolute wealth freedom through the cryptocurrency circle. They were originally ordinary people, but they chose the crypto market as a track, became the beneficiaries of the big trend, stepped on the right outlet, and achieved class leap.
Many early blockchain users have left the market with wealth and freedom, enjoying life, while others have a net worth of over 100 million and continue to pursue changing the world. But these people are too far away from us, there is no comparison, and it is difficult to resonate with them.
Chu Xiaolian shared several stories of ordinary people around him accumulating wealth through the cryptocurrency circle.
Although their assets are not enough to achieve freedom, the crypto market does bring them new opportunities. Compared with the increasingly competitive and difficult entrepreneurial opportunities in traditional industries, the cryptocurrency world has opened up a new entrance to wealth.
One of our group members earned 600,000 yuan a year.
This group member has been in the crypto market for 5 years. He previously did contracts and lost a lot of money.
At the beginning of 2024, I adjusted my gameplay and invested $40,000 to buy 150 $BNB , with an average cost of more than 260. I continued to accumulate BNB, participated in platform activities and contract hedging, and currently accumulated more than 170 BNB.
Not only did the amount of BNB increase, but the price of BNB also rose to US$590, a 2.2-fold increase. In less than a year, US$40,000 turned into US$100,000.
He just hoards BNB, buys spot and contracts for hedging, participates in new coin mining and exchanges them for BNB, which is an opportunity to bet on the BNB platform.
Of course, there are also greater risks. If the Binance platform encounters a black swan event, the price of BNB may plummet in a short period of time, but for now it seems that he has made a profit.
A group member made 1 million in three years.
I have a friend who works in content. He entered the circle in 2021 and invested in 10wr. He made 1 million in 3 years.
He entered the cryptocurrency circle by creating content. From knowing nothing in the early days, he continued to learn about blockchain and output knowledge as he went along.
Start with various keywords, learn about Bitcoin, stablecoin, Satoshi Nakamoto, decentralization, contracts, spot, Defi, wallets, Layer1, Layer2, etc., learn about the crypto market, and enrich your knowledge reserves.
I also continue to hang out in social networks and do part-time jobs. Through social networks and Twitter, I learn about market hot spots and opportunities.
When NFT and web3 projects were hot, I found a part-time job in TG and DC communities and did operations. If I had extra money, I would contribute to $BTC and $ETH .
They also actively participate in prize-winning activities organized by the platform, such as the Binance Square essay contest. Excellent articles with high traffic can receive rewards ranging from US$200 to US$1,000.
In 3 years, the investment of 100,000 yuan turned into 100,000 yuan, which increased 10 times.
One group member lost 200,000 yuan in one day.
The cryptocurrency world brings opportunities to make money, but also many opportunities to lose money.
A group member downloaded the Chinese version of Telegram and communicated with his friends. The wallet address sent by the other party was replaced unknowingly. The 3wu that he thought was transferred to the other party's wallet was transferred to the hacker's address, and he lost 200,000 yuan in one day.
The decentralization and anonymity of the cryptocurrency world is a double-edged sword. If you are not careful, you will enter a dark forest where hackers are rampant. If you are not careful, your assets on the chain will be stolen and your assets will be reduced to zero.
These are just individual cases, and the gains and losses are not shocking, but they are not zero, so not losing money means you are making money.
There are contract players who once made 5 million, but lost it all in the end. They even took out loans and used credit cards to continue carrying their positions, becoming heavily in debt. Others could not bear the loss of their contracts, which led to their wives and children leaving them and committing suicide.
There are also meme players who follow the hot spots to enter the market. When others make money and leave, the memes they invested in are reduced to zero. After several years of experience in the cryptocurrency circle, they are left with a bunch of empty coins, and in the end, it is all for nothing.
There are also those who have tapped into the NFT and inscription trends, cashed out at high points and became winners in life; there are also those who held BTC and ETH in the early days and are now enjoying the benefits of the trend. These are all real cases.
The development of the crypto market is not as fast as in previous years, the chain is not active, and web3 projects are not popular.
Currently, the gas fee on the Ethereum chain is less than 8 gwei and the transaction fee is less than $1. In 2021, the daily gas on the Ethereum chain will be 200-300 gwei, and the gas fee for a single transaction will be as high as $100-200, or even higher.
BTC has only been online for 15 years since 2009, so it is still very young compared to other industries.
But the development of any new industry is full of ups and downs. If it succeeds, early players will reap huge profits, but if it fails, everything will be lost.
New players still have opportunities to enter the crypto market, but it is not easy for anyone to go from 0 to 1. This process will discourage many people. Only after accumulating a certain amount of time and experience will there be a chance of explosion.
The 80/20 rule applies to any industry. Let’s all be part of the 20%.
I am Chu Xiaolian, let’s pay attention to the crypto market.
