Entering the cryptocurrency circle, many novices hope to achieve wealth growth by earning rich returns quickly, especially wanting to make 2 million from 150,000.
But it is not easy to achieve this goal. Click below to briefly analyze this issue.
1. High risk brings high returns
The cryptocurrency market is volatile and has high returns, but also high risks. Although large currencies such as Bitcoin and Ethereum are relatively stable, prices still fluctuate greatly. To make 2 million from 150,000 means to achieve a 13-fold return, which is possible in a bull market, but the risk is very high. Newbies must understand that market uncertainty may lead to capital losses.
2. Choose the currency and investment method wisely
Choosing the right currency and investment method is crucial. Bitcoin and Ethereum are suitable for steady investment, but if you want to make a quick profit, you can consider some emerging currencies or DeFi and NFT projects with greater potential. These projects may bring a surge, but the risk is also higher. Although contract trading and leveraged trading can magnify returns, they are also accompanied by higher risks and are not suitable for inexperienced investors.
3. Risk management and mentality control
There should be a clear risk management strategy when investing:
Diversify investments to reduce the risk of a single currency. Set stop loss and take profit to control losses and lock in gains. Treat fluctuations rationally and avoid emotional decisions.
Only by keeping a calm mind and investing rationally can you make long-term profits in the currency circle.
4. Long-term persistence and steady appreciation
Most successful investors accumulate wealth through long-term and steady investment, rather than short-term surges. Being patient and rational and avoiding the pursuit of overnight wealth is the key to steady appreciation.