Many people who entered the digital currency world have one common goal, to be rich. No one can’t blame them for thinking that cryptocurrencies can make them millionaires or even billionaires. After all, some people did it, therefore it is not impossible that with the right strategy, many more will be rich too. Take, for instance, Satoshi Nakamoto. He created bitcoin and is believed to now own around $19b worth of bitcoins. Former child actor Brock Pierce who founded Blockchain Capital (BBC) that saw the biggest ICO of 2017, is now believed to be worth between $700m to $1b. Many more of them out there are either millionaires or billionaires because of cryptocurrencies. But the million-dollar question is how to be rich with cryptocurrency? Let’s take a look.
Buying and holding
Buying, holding, and selling is perhaps the method that you are most familiar with. Just like how it works with stocks trading where you buy some assets, hold it while the price is low, then sell it when the price increases. Cryptocurrency trading works in exactly the same way. You buy some coins at a low price, hold it, then sell it when the price gets higher. It’s a great strategy to watch out for new coins such as Virie because its price is still relatively low. They are expected to launch its ICO around the world anytime soon so, now is the best time to buy and hold some of it before it becomes very popular after the crowdfunding.
This method is not for beginners, but if you have experience in trading or a good background in cryptocurrency, this could probably your way to being rich. Day trading involves looking for a pattern in financial trading charts. Someone who wants to do day trading has to dedicate his time and make it his full-time job because it requires constant tracking of the cryptocurrency’s price. Since the price of cryptocurrencies is volatile, it can change quite fast, making this method a great way to earn the return of investment very quickly too.
Traditionally, mining could be considered as one of the most tedious methods of earning your coins. It requires very high computer and electricity powers, and you have to be a geek to do mining. You have to solve complex mathematical puzzles and compete with other miners because if you don’t solve it first, you earn nothing. Let’s not forget to mention that it might take you a week and a few thousands of bucks just for setting up your CPU that can have the power to do mining. But Virie has changed this tradition. A Proof of Stake (PoW) protocol has been added to its architecture to allow its users to mine VRE coins without depending on the power of the CPU. You don’t have to be a geek, nor do you need a high powered CPU and electricity. All you have to do is to download and install it, and that’s it. In a nutshell, your coins multiply on their own. If you want to be rich with cryptocurrency, this is perhaps the best way for you. But don’t just take my word for it. Download it here and prove it yourself.