Making the first million in crypto. Sounds difficult? It certainly isn’t easy, but it certainly isn’t impossible. Like anything, it can be broken down into several measured steps. The roadmap to the millionaire’s club simply involves finding, purchasing, and holding the best cryptocurrencies to buy before the market prices them correctly.
All an investor needs to do is find a few discrepancies between price and value. Once they have built their starting capital stack, the path to becoming a crypto millionaire is almost guaranteed. The tricky part always has been and always will be getting off the ground.
Earning Your First Million in Crypto – Three Options, from Easy to Advanced
The journey will be different for everyone but can broadly be separated by starting capital. As Charlie Munger, VP of Berkshire Hathaway famously said, “The hardest part about getting to a million dollars is saving up at least $100K to invest.” Through things like compound interest, wealth can be easily multiplied. But like launching a rocket, the hardest part is getting off the ground first.
A simple option available only to a very few select high income investors is start with $500,000, buy $ETH, $BTC or a major altcoin like $LINK, and hold until it does a 2X (which it almost certainly will in the next bull market). Option 2: start with $250,000, same play, but wait for the 4X move. Where things get much more challenging is for everyday investors with less than four figures to start with. Creating the first million from four figures takes a solid amount of skill, strong nerves, some luck, and a boatload of tenacity. Let’s read on to find out more…
Identify Projects in Trending Narratives
Finding small caps in trending narratives is a must for building initial capital. A classic example would be GameFi or the AI narrative. Both look set to dominate in this bull market. Finding a good presale ICO or undervalued gaming project would be an excellent first step.
Taking Profits
Set realistic sell targets before market euphoria takes over and stick to them. Investors will never time the exact bottom nor the exact top, but that does not matter. All that matters is being close enough. Markets have two shoulders: the way up and the way down. Investors can sell into either.
Tokenomics
Tokenomics will be vital in deciphering which projects the market has undervalued. Ideally, investors should seek deflationary assets and assets that generate yield from a dependable source- not just inflationary token emissions. Deflationary assets that pay yield are the best cryptocurrencies to buy.
Being Early
Arriving early is absolutely essential for anybody looking to build their first million, and those starting with four figures or less need to get familiar and get familiar fast with ICOs, presales, and micro-caps. These will be the best vehicles to multiply the initial sum, especially for those investors starting out with more modest sums – ie, the average retail crypto investor.
Galaxy Fox ($GFOX) Ready to Print Millionaires
Galaxy Fox ($GFOX) is a brand new presale that ticks all the boxes and provides an excellent example of what a top crypto to invest in looks like this cycle. A play-to-earn token located in the middle of the GameFi narrative yet to launch on the open market. This puts it inside this cycle’s strongest trending narrative, and only available via presale means there is certainly a discrepancy between its value and price.
The $GFOX tokenomics are amazingly robust. 70% of tokens sold via the presale (no dilution later with token unlocks) and 10% locked in the liquidity pool, meaning 80% of the circulating supply will be live at the token generation event. Galaxy Fox implements a token burn and permanently removes tokens from circulation, increasing their scarcity and value on the open market.
Another element of the tokenomics making $GFOX a top crypto to buy in 2023 is the staking rewards paid out to stakers. Instead of printing tokens, the protocol allocates 2% of all buy and sell taxes to the Stargate module, which rewards stakers.
This has two core advantages. First, no token emissions mean no inflation and, therefore, yield on a deflationary asset. And second, as the ecosystem grows and more users buy and sell, $GFOX stakers will earn greater rewards with a quasi-unlimited cap on payouts.
Galaxy Fox is also still in the initial phase of its presale, and investors participating now are getting in at the lowest possible price. Better yet, the staggered price increases let anyone buying today lock in 450% gains by launch!
Closing Thoughts: Roadmap Provided Now Act!
The biggest problem investors will face with 100X gems like Galaxy Fox and the other best cryptocurrencies to buy this cycle will be selling too early and not letting their winners ride. A good yardstick measurement is to find the market cap of the largest competitor project and use this as a rough measure of when to sell.
At its peak, Axie Infinity ($AXS) had a market cap of $10 billion. Galaxy Fox is still under a million. The room for growth is astronomical. Investors have a roadmap and a killer example. Now the impetus falls to them. Participate in the Galaxy Fox presale today and take the first step towards becoming a millionaire this cycle.
Learn more about $GFOX here:
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