/biz/ - Business & Finance

>5'6

Someone tell him

My parents literally did 0 investing and spent every dollar they ever earned and built up zero assets, so now im forced to gamble on crypto

They don't make it by turning $1000 into $1,000,000

They make it buy turning $1,000 into $10,000 (micro cap)

Then turning $10,000 into $30,000 (small-medium cap)

Then turning $30,000 into $100,000 (small-medium cap)

Then turning $100,000 into $300,000 (big cap)

Then turning $300,000 into $500,000 (large cap)

Then turning $500,000 into $700,000 (large cap)

Then turning $700,000 into $1,000,000 (large cap)

With each successive trade, you move up on the ranking of what cryptocurrency you buy, the more you gain, the bigger cap you move the profits into, due to requiring more and more liquidity the higher your $ value gets.

The hardest part is probably getting that first 10X on a microcap