As an 'old timer' who has been through the ups and downs of the crypto world, I want to share my experiences today, along with the process of turning 30,000 into my first million. Let me make it clear, this is definitely not to show off, but just to serve as a reference for everyone — the crypto world really can change the fate of ordinary people, but it's like looking for a lifeline in a stormy sea, extremely difficult.
I entered the market before the bull market in 2017. At that time, for some reasons, I quit my job and had about 30,000 on hand. I was completely a novice, lured by the 'wealth myths' that my friends talked about every day. When I entered the market, the price of Bitcoin was already high, and I hesitated to buy directly, fearing a drop, so I chose a few popular altcoins at the time.
At first, I relied purely on luck, and the few altcoins I picked actually started to rise. Watching the numbers in my account soar every day was an excitement I can't describe; it felt like I was about to 'turn the tables'. But then the bear market hit, and those altcoins plummeted like kites with broken strings, most of them dropping to mere cents, and my money quickly shrank, almost losing it all.
Fortunately, I didn’t give up and started to learn blockchain knowledge frantically, looking at various project white papers, slowly learning to analyze the value and prospects of projects. The turning point came during the DeFi explosion in 2020 — I discovered a new DeFi project, and after in-depth research, I felt there was great potential, so I invested all my remaining money and even convinced my family to lend me some. After the project launched, its popularity far exceeded expectations, and the coin price soared, along with my assets, ultimately allowing me to successfully earn a million.
But I want to say, people as lucky as I am are just a tiny minority. There are many more stories in the crypto world of overnight liquidations and total losses. Trading here is non-stop 24 hours, with extreme volatility, making it very difficult for ordinary people to have the psychological quality and professional knowledge to cope. Moreover, the crypto world is still in a gray regulatory area, with scams and worthless coins everywhere, and it's easy to fall into traps if you're not careful. For example, in recent years, the Luna coin saw many people invest their fortunes, only to end up bankrupt; there are also various pyramid schemes disguised as blockchain coins, specifically targeting those who wish to 'get rich overnight.'
So back to the question: can the crypto world change the fate of ordinary people? Yes, but the probability is extremely low, as low as finding a particularly special grain of sand among the stars. It requires keen insight, solid knowledge reserves, strong psychological quality, and a bit of luck. For most ordinary people, if you don’t have enough time and energy to study deeply, and aren’t prepared to bear significant risks, it’s better not to dabble in it. Spending your energy on improving professional skills and doing your job well might be a more reliable way to change your fate.
Of course, if you're really interested in the crypto world, you must first learn the relevant knowledge, try it out with a small amount of spare money, and never invest borrowed money. Don’t treat it as the only way to change your fate.
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