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Where to Start?
Getting to the first million is hard, but the second is inevitable. Not becoming a millionaire isn’t important. The important thing is to become that person you need to be to become a millionaire. You have to become a completely different person. You have to develop character traits different from over 99% of people in the world. You have to develop honesty, discipline, and quality relationships and want to work and set your priorities because without them, nothing is possible.
Does that sound familiar? These are the words of Brian Tracy, one of the greatest speakers on investment matters.
Today I will tell you how I made my first million and why now is the best time for you to do it too.
In this difficult period of the financial markets, I offered you a well-deserved dose of motivation, but at the same time, I want it to be something real. Let’s start small by analyzing the global economic situation, but with a focus on the crypto market.
We are at the beginning of a recession and heading towards the bottom of the pit. What does this mean? That the financial markets have fallen and will fall even more. The general trend remains downward even if we have small increases for short periods, this does not change the general direction.
History proves that important fortunes are built in such periods. It would be ideal to buy financial assets when the price is at a minimum, and to sell them when the price is maximum. Of course, no one knows when these moments will be, and that’s why we have to get an average purchase price as low as possible and an average sale price as high as possible.
At the moment, we are definitely, very close to the bottom of the abyss. The low point of this decline may as well be reached next month or next year. I personally, during this period, invest daily in the first 15 crypto projects a constant amount of money, and I will continue to do this for at least a year.
Platforms like Binance allow you to make such recurring investments starting from just one dollar, so you can easily copy this model. If you do this, you will definitely get an extremely low buy average, and this, combined with the fact that all coins can be staked on Binance, will definitely bring you 10x in the next Bull run.
Depending on how much money you have available, you can play even riskier. I chose the first 15 projects because I am investing a significant amount that I don’t want to risk losing. But with a little extra work to research and looking for new, valuable projects, you can do this even with small projects, which have the potential for the next bull run to increase their capitalization hundreds of times, thus resulting in an increase in your investment of hundreds of times, but of course this strategy is not without risks, as no strategy is.
I will show you some statistics regarding this strategy and what results you would have had now in the bear market if you had used this in past buying, including at the maximum prices. If you had made this daily recurring investment in BNB, you would have had an average annual return of 742% today. If you had chosen Bitcoin, you would have had 46.5%, with ETH, you would have earned 311% annually, with Solana 402%, with MATIC 2680%, with ADA 362%, and with FTM 1,924%.
Please keep in mind that these yields would have been obtained at today’s prices, being in a bear market, and imagine what the numbers will be in the middle of a bull market.
Therefore, it can be easily seen that a simple strategy of buying a token daily will bring you an annual return of several hundred percent. An increase of 100% represents a doubling of the investment. $1,000 doubled 10 times will be worth a million. If you manage to double your money once a year, 10 years in a row, and you start today with $1000, in 10 years, you will be a millionaire.
Imagine how easy this road will be with such returns. Do not forget that the yields presented above represent an average and not an exceptional case like the one we are in today. I mean, today, you can start this process in the middle of a bear market, and you can end it in the middle of the next bull run, thus easily exceeding the returns I showed above.
Fortunately for us, the crypto market offers us such market cycles very often, being able to easily depreciate your investments once every few years. While the big economy, the real one as some call it or the traditional economy, offers us these opportunities only once every 10–15 years and with lower volatilities.
Just like in the stock market, in order to get rich, you need to participate in at least one complete market cycle, if not even 2. What you can do in the stock market in 30 years, you can do in crypto, maybe in just 3- 5 years and even at a higher intensity. But don’t forget that this is valid for both losses and gains.
If you are a weak investor, a higher volatility and a higher cyclicality of the market only accentuates your results, as does leveraged trading. I assume that all of you who are present here are or want to become millionaires one day. And for those who are still working on this dream, I assure you that for a large proportion of you, you will succeed.
Over 99% of people will never succeed, but do you know why? Because, to a large extent, they never even try. Because over 99% of people never follow such content. Because in any crisis, 99% of people will cry because it’s hard, and 1% will sell handkerchiefs to the crybabies and get rich. You are among the 1%, it is important to stay in this category and to fight for your dream, but to fight with concrete facts, not just to dream. Every day you live, you have to do something, anything, no matter how small, so that you are closer to your dream than you were yesterday. Not all of us have the same strength and speed, that’s why some will arrive faster and others later, but the important thing is that you have the right direction.
A great saying goes like this, if you want to go fast, go alone, and if you want to go far, go together. This means surrounding yourself with people who have the same ideals and passions as you so that when you feel like giving up, you can find in them the drop of motivation you need to continue.
If you don’t find such people in your vicinity, look for them online. Look for them in our communities, and you will definitely find them! Break contact with those who tell you that you can’t and go on your way, don’t forget that if you’re not a millionaire now and you want to become one, you have to give up the person you are now and become a new one, better in all aspects of vision — a person who will be able to make the first million, since the person you are now has not managed to make it.
You have to develop to the next level, and the new person will most likely not be able to be friends with the people the old person was with. Will this be painful? Not at all, it will be uplifting, you will truly feel the freedom and power you will receive. Power with which it is your responsibility to do only good things.
Our subconscious often prevents us from becoming rich. The limiting beliefs present in our heads always do this. If you think, for example, that people with money are bad people, you will never have money because your brain avoids the label of a bad person and does not want to make you become such a person. And in the moments when you will win large sums of money, you will feel guilty, you will feel that you do not deserve it, and you will spend it quickly because your brain knows that it must get rid of the money as quickly as possible. Money is for bad people, right?
Money is not good or bad, money is energy, power. Money gives you the power to be who you really are. Money is like a tool in a man’s hand, just like a knife, with which you can just as well cut food and feed hungry people, or you can hurt someone by cutting it. So at least as important as the investments you make is to work in parallel on improving your mindset.
That’s what got me to my first million. Personal development in all aspects, both financial, learning everything I could relate to the subject, and also changing the mindset.
These two are both necessary to get rich, and then to stay there, you have to develop in other ways as well, such as health, family, happiness, etc.
Over 90% of people who win the lottery lose all their money in the first year. Why is this happening? Because of the mindset they have. Because of the person they are. The person who is not able to manage that money, that’s why they were poor when they won the lottery. And the mindset in one year brings the person back to the place where the brain believes and knows it should be.
First, you have to position your mindset to be a millionaire, and then your brain, once convinced of this, will take you there in a year. By not being a millionaire yet, you don’t know how to set your mindset, so you have to take it step by step, before you have a million $, you have to have 100,000, before that, you have to have 10,000, and so on. See where you stand and take it rationally from the step you are at. If your wealth today is $3,000, go to the next step, to $10,000, don’t aspire to a million because you will be quickly demotivated.
Take a step back, see what level you are at, see how many stairs you have to go up, and go to the next step, don’t try to step 3 steps higher, or you will break your legs. Statistics tell us that to become a millionaire, from the moment you make a firm decision in this direction, you need an average between 1 and 9 years, depending on how smart you are.
Thank you for reading until the end! Until next time, take care of your money!
In case you would like to listen to this information with some visual effects, you can watch our YouTube video here.
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How I made my first million? What stops you to do it as well? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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