Speculating on cryptocurrencies cannot lead to wealth, at least for the vast majority of people.

However, holding cryptocurrencies can indeed lead to wealth.

I started dollar-cost averaging at the end of 2018 with a combination of BTC, ETH, and BNB, investing 1000-1500 RMB each month. I have accumulated more than 60,000 RMB in total investment, and it has now grown to 460,000 RMB. Although it's not a lot of money, for someone like me with an annual salary of 120,000 RMB, it is already considered wealth.

I have held the Bitcoin I acquired in 2013 until now, no need to elaborate.

I started gradually buying various cryptocurrencies from June 2020, hardly making any moves in between, selling 25% when it rises by 40%. My initial cost was around 100,000 RMB, and I have rotated my investments, now I have cashed out 370,000 RMB, leaving nearly 270,000 RMB remaining.

There is also DeFi mining; I don't seek to get rich quickly, being satisfied with an annualized return of over 30%. Of course, 200% would be even better. I mine stablecoins or stablecoin trading pairs, not seeking to achieve great success but merely to avoid losses, using time to gain returns. It has been over half a year now, and my income is also in the tens of thousands.

The cryptocurrency market is a wild market; while there are many pitfalls, there are also many opportunities. It is precisely because of this that so many people come to mine for gold. Rumors often have some basis in fact. Therefore, maintaining certain advantages in information, action, and mindset, participating only with funds you can afford, thinking critically, and being cautious can still allow you to earn some pocket money. After all, I don't have high goals; I'm satisfied with an annualized return of over 20%.

However, (short-term) speculation on cryptocurrencies is another matter entirely; it relies completely on luck. Every time I get impulsive and invest a few thousand RMB, the result is always a loss, 100%, without exception. Medium-term trading is not much better, as selecting cryptocurrencies requires a considerable amount of research, knowledge, and experience. Without this foundation, you might end up with a bunch of worthless assets, and no one knows how the market will trend. Once the market reverses, you could easily get buried.

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