Crypto Millionnaire Explains How Cashing Out of Bitcoin Early Actually Made him Richer
If you speak to any investment advisor they will all say the same thing, diversifying your portfolio will alwasy spread your risk and thus reduce it. This strategy has been used for years and is how Crypto millionnaire, Chris Lewis, managed to make more than $2,300,000 investing in cryptocurrencies.
The fascinating thing about this crypto millionnaire story is that he did not get in early. Lewis bought $9,200 worth of bitcoin in 2015, this got him 46 coins when the price was $200 per coin.
Admittedly this is before most people had even heard of bitcoin however if you look at the price Lewis bought compared with other cryptocurrencies on the market there is definitely room for growth in some of the smaller altcoins.
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Prior to making all his money, Lewis was a computer engineer and so had heard of blockchain technology. But what really grabbed his attention was in 2013, when bitcoin went from $100 to over $1,000 in just two months. 900% increase in two months was something no other investment vehicle could even envisage, let alone compete with.
Over the next year, Lewis did his research, moved some cash around and decided to take the plunge at the start of 2015 where he managed to get a great price. Looking back at it now, it looks like he picked the bottom.
Cryptocurrencies Come into their Own in 2017
Roll forward to 2017, the year of the cryptocurrency, and bitcoin began to make waves on news and media outlets, and your average Joe was now starting to hear about it.
August the 9th, Lewis decided to sell the majority of his bitcoin holdings. Of the 46 coins he owned, he sold 40, however he did not sell them for pounds or dollars. He exchanged 20 bitcoins for 420,000 ripple coins at $0.20, which at the time was worth $84,000. Once the explosive growth of cryptocurrencies happened, ripple traded at a high of $3.81 per coin, however like most traders and investors getting out at the very top is near on impossible.
That being said Lewis did get a good price at $2.60 a coin, meaning this brought his ripple investment to $1,092,000. This was combined with several other smaller coins to take his original $9,200 investment to well over the 7 figure number and very close the $2 million mark.
Bitcoin Code took Profits over $2 million
What in fact took him over the $2 million point was using an automated bitcoin trading platform. This began to use the profits Lewis had made himself to really elevate his returns.
Bitcoin code is a highly sophisticated piece of trading technology that has been designed specifically for the cryptocurrency market. Given the huge volatility swings bitcoin and other coins have been behaving, it is imperative that any automated trading platform manages your risk with such large swings involved.
Since making his first million by investing cryptocurrencies, Chris Lewis has continued to search for the next bitcoin and ripple. Investing in ICOs has been an avenue he has gone down however he continues to use bitcoin code to grow his account. It now allows for automated ripple trading, which was the cryptopcurrency that really got him into the 7 digit club.
There are several ways you can get involved in the cryptocurrency world. For those that do not want to sit at a desk but still want to be active in the market, I would recommend checking out bitcoin code.