How To Make Your First Million

The hardest way to get a million dollars is to go to school then work for it.

Preferably, you make your millions with little or zero effort through investments, but if you don't have the capital to invest, there are many other methods you can use to earn a million dollars through hard work. If that's your case, you should stop reading now. We are going to focus on exactly zero of those ways and talk about the investment part instead.

Before I write this I am assuming you are reading this because you either have not yet made a million dollars yourself, or you just wanted to see what I thought. Whatever your case is I want to make it clear that money wont make you happy. Money only allows you the freedom to start making the decisions that will allow you to be happy. The chase for money often leaves us living in our head and not present in the moment. Don't forget to live your life while you pursue your goals. The journey is the destination. You don't want to wake up one day with a million dollars while also wondering where your life went!

I will start with free alpha, some actual advice, and not some hindsight trading "oh you should've just bought btc 5 years ago" nonsense..

You can become a millionaire by buying 100 OZ of gold(maybe some silver too) and selling at 10k USD. The hold time is long but the trade is simple and hard to fuck up.

How much will 1M be worth then? You will probably want to keep holding the gold, to be honest.

If you want to get rich, act first, act fast, then do nothing.

“It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!” - Jesse Livermore

Sitting tight during a bull market, I would add.

My target audience is crypto traders, but I start this article shilling gold.

Why?

Because it is still early, and you nerds are already holding cryptocurrencies.

Most of you don't have 180k to buy gold with so lets get to the heart of this article, crypto.

If you're new in the space you have probably heard the advice "Don't invest what you cant afford to lose, dollar cost average, just hold". This is good advice, and should be taken quite literally, as it is the key to your success in crypto. Your ability to hold through a bear market and stay interested will save you in the next cycle. There is always a next cycle. I would say bitcoin is about halfway through its pump right now, and major altcoins are only just now starting to heat up. There are good opportunities in larger alternative crypto currencies that have not broken the USD all time high. You will find greater returns in altcoins during a bull market, and greater losses during a bear market. It is important that you never fully exit the game, because you cant win if you cant bet. Lots of people larp about trading with leverage and I would recommend you stick to spot trading. Leverage trading on social media is just like the rest of social media, people usually only post the gains, and not the losses. Everybody online is trying to build their brand as a 'good trader'. Don't touch leverage. If you decide to, don't put more than 1% of your money on an exchange and let your loss teach you a lesson to just buy spot and hold. The most experienced traders also get destroyed with leverage, and you are brand new thinking you can compete. Don't.

The best time to buy spot btc/alts is when the suicide hotline gets posted on r/bitcoin subreddit.

Bitcoin will eventually reach 1M dollars per coin but there is a good possibility it will only happen next cycle. If you believe this, you could create a strategy of accumulating 1 whole coin during the next bear market by dollar cost averaging and holding.

If you want to make a million dollars this cycle, you could invest 25k into Zcash (100 coins) and sell at 10k ($975k profit)

Altcoins are the leverage! Not leveraged trading exchanges!

That's it, that's the article, good luck.

Full disclosure: I own a position in Zcash and gold and it benefits me to write bullish things. I wrote this with near zero effort in 20 minutes because I am bored. Also, not financial advice this article is satire.

5/1/2021