Trading cryptocurrencies helped me pay off hundreds of thousands in debt and achieve financial freedom. At the beginning of 2017, my life hit rock bottom.
University, I had a dream of entrepreneurship and borrowed 200,000 yuan to open a small shop. The debt piled up like a snowball. Every month, the bank's collection calls became my nightmare, and 200,000 felt like an insurmountable mountain to me. I once thought I would never turn my life around. By chance, I was introduced to cryptocurrency through a friend's recommendation. At that time, I knew nothing about this field, only having heard stories of Bitcoin's wild fluctuations. My friend told me that he made over 100,000 by investing in Bitcoin during the 2017 bull market, and although he also incurred losses, it overall showed him a chance for a turnaround. With a mindset of giving it a try, I began to study this unfamiliar world.
At first, I spent a lot of time learning the basics online: What is blockchain? What is the difference between Bitcoin and altcoins? I stared at candlestick charts every day, trying to seize opportunities. However, my first investment did not go well; I used my remaining 5,000 yuan to buy a popular token, and the next day it dropped by 30%. I realized that relying solely on luck was not feasible.
That loss made me calm down. I began to systematically learn the investment logic of cryptocurrency instead of blindly following trends. I read 'Mastering Bitcoin', followed analyses from some cryptocurrency influencers, and joined a few reliable communities. I understood a principle: the crypto market is full of opportunities, but also fraught with risks. To turn my situation around, I needed a strategy.
I started small to test the waters, diversifying my risk instead of betting all my money on one coin; I spread my investments across Bitcoin, Ethereum, and some potential projects.
In 2020, the crypto market experienced a slight recovery. I invested 2,000 yuan that I saved each month into Bitcoin and Ethereum while also researching some emerging DeFi (decentralized finance) projects. Hard work pays off; by early 2024, Bitcoin's price broke 60,000 USD, and my account finally showed improvement. With some low-priced tokens doubling, my assets reached 150,000 yuan.
This money allowed me to pay off half of my debt, significantly reducing my stress. I didn’t rush to cash out but continued with my regular investments and found a stable part-time job to repay the remaining debt. By January 2025, my debt was completely cleared, and I had an additional 50,000 yuan in savings. From 200,000 yuan in debt to financial freedom, I spent three years using cryptocurrency to win a turnaround.
Looking back, this experience was not only a financial comeback but also a reshaping of my mindset. Cryptocurrency gave me opportunities, but what truly helped me succeed was learning, perseverance, and rationality. If I hadn’t stumbled in the beginning, I might not have understood the importance of risk management; without long-term belief, I might have been crushed by the market's ups and downs.
I want to say: cryptocurrency is not a lifeline, but it can be a path. As long as you are willing to spend time studying, making plans, and not being greedy or reckless, you may also find your own way to succeed.
#NEWT #鲍威尔半年度货币政策证词 #加密市场反弹 #BTC
