Founder of Binance says that only 5% of cryptocurrency investors will succeed
Changpeng Zhao, founder of Binance, believes that only 5% of cryptocurrency investors will succeed. According to the executive, the blame would not be on the market, which is down this March, but rather on people's own mentality.
The main barrier would be the lack of persistence. Following that would be the following of irresponsible influencers.
Owner of the largest cryptocurrency exchange in the world, today CZ holds a fortune of $64.5 billion, according to Forbes, and is among the 25 richest people in the world.
Changpeng Zhao's comments come after a market participant highlighted that the cryptocurrency sector is not for everyone. Using made-up statistics to demonstrate his point, the investor points out that most people give up at the first opportunity.
The barrier to succeeding in the cryptocurrency market is very low.
80% are tourists who come with the news and leave.
10% are news traders on Twitter, following irresponsible influencers.
5% pretend to be rich.
Therefore, you only need to surpass the remaining 5%. Little effort if you work hard.
Following that, CZ highlights that many investors seek elaborate and complex approaches to make money. However, the billionaire points out that the best strategy is simply to buy Bitcoin and leave it in the wallet.
“Of the remaining 5%: 4% trade actively or work on projects, but do not outperform Bitcoin.”
Although his exchange offers over 450 cryptocurrencies for trading, the billionaire has already revealed that he only owns two cryptocurrencies in his portfolio, Bitcoin and BNB. Before founding Binance, CZ also sold an apartment for 1,500 bitcoins (R$ 700 million at the current exchange rate), having spent only 100 BTC of that total.
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Changpeng Zhao, founder of Binance, believes that only 5% of cryptocurrency investors will succeed. According to the executive, the blame would not be on the market, which is down this March, but rather on people's own mentality.
The main barrier would be the lack of persistence. Following that would be the following of irresponsible influencers.
Owner of the largest cryptocurrency exchange in the world, today CZ holds a fortune of $64.5 billion, according to Forbes, and is among the 25 richest people in the world.
Changpeng Zhao's comments come after a market participant highlighted that the cryptocurrency sector is not for everyone. Using made-up statistics to demonstrate his point, the investor points out that most people give up at the first opportunity.
The barrier to succeeding in the cryptocurrency market is very low.
80% are tourists who come with the news and leave.
10% are news traders on Twitter, following irresponsible influencers.
5% pretend to be rich.
Therefore, you only need to surpass the remaining 5%. Little effort if you work hard.
Following that, CZ highlights that many investors seek elaborate and complex approaches to make money. However, the billionaire points out that the best strategy is simply to buy Bitcoin and leave it in the wallet.
“Of the remaining 5%: 4% trade actively or work on projects, but do not outperform Bitcoin.”
Although his exchange offers over 450 cryptocurrencies for trading, the billionaire has already revealed that he only owns two cryptocurrencies in his portfolio, Bitcoin and BNB. Before founding Binance, CZ also sold an apartment for 1,500 bitcoins (R$ 700 million at the current exchange rate), having spent only 100 BTC of that total.
$BNB
Looking for a Coin for Free Mining
Download Ruby from the app store and enter the
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Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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