Cryptocurrency. You’ve probably heard of it recently — the word has been thrown around a lot since its introduction in 2009 by Satoshi Nakamoto. However, not many people know that Bitcoin, one of the earliest forms of cryptocurrency, was actually created by a stroke of serendipity. This was because Satoshi Nakamoto actually meant to create an online cash system. He failed to do so, but he ended up creating something much more disruptive — cryptocurrency.
The core concept upon which Satoshi Nakamoto meant to build his online cash system was that of a decentralized currency where no single entity held governing powers over the transactions that transpired within the system. And this led to the creation of not only Bitcoin, but to the creation of the blockchain system as well. There are many questions about crypto, and how to store cryptocurrency is just one of many. But that’s a discussion for another time.
As with anything that’s new and disruptive, there will always be skeptics. And the skeptics aren’t necessarily bad. They function the same way that the nerves on our bodies do, they’re there to say when there’s something wrong. And well, it’s true that investing in cryptocurrency is a really big risk to take, especially since the market is so incredibly volatile.
But this hasn’t deterred the few who stuck with it and in some cases, a few of these people were even able to make a fortune off of cryptocurrency. So, the simple answer to the question at hand is “yes”. But I think that you, dear reader, are more interested in finding out what your chances are of getting rich on cryptocurrency.
To be honest, that answer is one that everyone probably hates to the core.
This is because just like any other trading platform, you need to have a lot of experience and knowledge in order for you to be able to make the right decisions. This scenario is no different than the scenarios you’d find when trading in FOREX or on the stock market. It’s a system wherein your successes and failures are highly dependent on how well you’re able to read the market and use that information to make accurate and sound decisions.
But that doesn’t mean it’s nigh impossible to succeed. I mean, look at these people who’ve been able to make it. In all honesty, it’s really a matter of looking at one common thing that these people have in order to accurately gauge your chances of making it. Some people are just lucky. Others go through the nitty gritty stuff and they literally build their fortune from dust.
If there’s one thing that’s for certain though, is that cryptocurrencies aren’t going away anytime soon. More and more people are recognizing their potential and as you can expect, the list of people who’ve made it in cryptocurrency is only going to grow longer.