If you’ve been following the news lately, you probably saw that Bitcoin surged another $400 in an hour, and is now valued at about $7,000. It is the second major price spike in the space of two days, and it seems to be having a ripple effect across the entire cryptocurrency market. Investors are getting excited about Bitcoin, and everyday people like you are probably asking yourself if it is time to get started with cryptocurrency trading.
The truth is, savvy cryptocurrency investors have made money on bitcoin and other cryptocurrencies. Forbes 2018 rankings of the world’s billionaires includes two — Chris Larsen and Changpeng Zhao — who earned their spot on the list directly because they decided it was time to get started with cryptocurrency trading. The interesting thing about both Larsen and Zhao was that neither one made their fortune trading Bitcoin. They got involved in the entire cryptocurrency market, and turned investing skills into a lot of money.
In 2012 Eddy Zillan’s parents gave him $5,000 for his bar mitzvah, to start an investment fund. The 13-year-old kid had already saved up a seven-thousand dollars from summer jobs. Instead of investing in traditional stocks and bonds, as his parents expected, Zillan invested $12,000 in cryptocurrencies. Zillan proved that you are never too young to get started with cryptocurrency trading, as the 18-year-old’s portfolio has grown by over 4,000%, and is worth well over $500,000.
Atlanta’s Peter Saddington first decided to get started with cryptocurrency trading when he invested in Bitcoin in 2011. Saddington, 35, an entrepreneur with a background in computer science, bought the coins for less than $3 each, and saw a return of over 250,000% on his initial investment. He believes deeply in the power of Bitcoins, not only as an investment, but as a currency. Saddington recently purchased a car directly from the dealer with bitcoins, for the equivalent of $238,000, to tout the credibility of the currency. Clearly, he is someone who thinks it is important to get started with cryptocurrency trading.
While Bitcoin is the most well known cryptocurrency, and trades at nearly $7,000, if you are looking to get started with cryptocurrency trading you’ll want to pay attention to some of the other lesser-known cryptocurrencies. There are literally hundreds of coins, available for fractions of a penny. While some of these are high risk and will disappear, many will flourish.
Ethereum is a popular choice for investors who want to get started with cryptocurrency trading. The coin was trading for less than a dollar back in January 2016. It grew to around $10 throughout 2016, and started to take off in March 2017. In May, it crossed the $100 threshold, and was trading for over $300 in June. It broke $1,000 in January 2018. Like all investments, the price has fluctuated throughout the year, giving savvy investors a great opportunity to buy low and sell high.
If you are ready to get started with cryptocurrency trading, you could be on the cusp of generating tremendous wealth for you and your family. You can get started at any age, with any budget.
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