How to Become A Millionaire in One Year | Crypto Edition
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Timestamps:
0:00 – How to Become A Millionaire in 1 Year
0:54 – How Bitcoin made his first million
2:36 – Is it even possible to become A Millionaire in 1 Year?
5:17 – Bitboy’s #1 Best Tip
8:42 – Bitboy’s #2 Best Tip
11:42 – Bitboy’s #3 Best Tip
15:33 – Bitboy’s Final Advice
**Note: My overall opinion is that the name of the game is to accumulate as much Bitcoin as possible. Alts are interesting but a lot more speculative. I use them to accumulate more Bitcoin.
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Most of my crypto portfolio is Bitcoin, then Ethereum, but I hold many cryptocurrencies, possibly ones discussed in this video.
Coins I hold or will hold more than $1k worth (in no particular order): BTC, ETH, ADA, SOL, DOT, AVAX, EGLD, MINA, SUPER, FEAR, VPP, XCAD, RUNE, XDEFI, OPUL, LINK, RFOX, INJ, XPLOT, REALM, NIF, VPAD, SENATE, SIDUS, FORM, DON, CELL, BICO, SIS, MATIC, IMX, METIS, BNB, MANA, SAND, THETA, TFUEL, GMT
cryptocurrency, crypto, altcoin, altcoin daily, news, best investment, top altcoins, ripple, best crypto investment, ethereum, xrp, crash, bottom, crash, price, prediction, podcast, interview, finance, stock, investment, too late, bitcoin, cryptocurrency news, bitcoin news, cryptocurrency news media online, defi, should i buy ethereum?, ethereum a good investment, best crypto investments, 2023 prediction, nfts, best nfts, cardano a good investment?, should I buy cardano?, bitboy, coin bureau, binance, coinbase,
Took me nine years to become a millionaire in
crypto what I like to do is kind of like educate People and shortcut their process based on how
many mistakes that I made it can definitely be Done in one year if you understand what you're
doing the number one thing that I see people do That are newer to crypto that have been in for
less than four years to make mistake mistake After mistake the drains our portfolio is Ben
Armstrong is a self-made millionaire in crypto Author of catching up to crypto and host and
founder of one of the biggest crypto channels On YouTube today Ben shares his top three tips
and tricks on how you can become a millionaire In cryptocurrency in one year without further Ado
bit boy crypto great to have you on the channel Today my audience knows you cryptocurrency knows
you some people though are going to be thinking You know what gives bit boy the authority
to talk about becoming a millionaire and I Don't think they know that you started from
the bottom and now you're here so before we Jump into it could you take us through how you
became successful because a lot of people don't Know and feel free to brag a little bit yeah sure
uh I I went from zero to a hundred kind of quick Maybe not real quick but kind of quick uh look uh
management Armstrong I have been this is like my Biggest Flex right here what I'm about to say this
is my second decade in crypto I'm now in my second Decade of being in the world of crypto and that
doesn't mean that I bought Bitcoin early and I got Rich and I've been sitting on an island ever since
uh it means that uh you know it took me nine years It took me nine years to become a millionaire
in crypto uh I went through a lot of mistakes Um I I lost all my money twice in the world of
crypto uh once through you know selling in and Mount gox and then later on in 2017 by riding to
the top and then going all the way back down to The bottom in 2018. so um I've kind of done it all
uh you know I I now am doing very well financially And I'm able to kind of like invest technically
I think I'm probably an accredited investor Um by the archaic and accredited investor laws we
have in this country um but like I'm there now but I also was right where everybody else was you know
just a regular guy I have a family you know got Three kids I was living paycheck to paycheck kind
of stumbled into this whole world and um you know In my opinion it's kind of like doing every step
along the way um you know the way that it probably Should be done by a regular person what gives
me the ability to be able to talk and connect With people um you know but wherever you're at
on your journey in crypto mm-hmm so you did it In nine years do you think it's possible to do
it in one yeah well I mean the reality is even Though it took me nine years like it was really
the eighth to ninth year you know they're really Um where I made all my money and basically what
I like to do is kind of like educate people and Shortcut their process based on how many mistakes
that I made because if I would have made any Mistakes if I would have made zero mistakes um it
would have taken me uh one year tops to become a Millionaire in crypto if I would have taken all my
money I was buying Bitcoin to spend on a software
For a business I Ran So if instead of doing that
if I'd have just bought the Bitcoin and kept it Then I would have been a millionaire in about
a year uh the price went from you know twelve Dollars all the way up to uh can't remember
where it peaked out I think I sold mine around Three hundred dollars uh so that was about a 30
Action where I bought it my first Bitcoin purchase Um was 450 for 37 Bitcoin so about 12 bucks a
piece if I just would have sat on that in the peak Of the bull run this last time that alone would
have been worth uh you know three million dollars So the the point is if you fast forwarded 2017 it
I got in I got full full time in crypto I guess Like all in on crypto a little bit too late inside
the Run uh in 2017 for the first half of the year I was looking at Bitcoin like I think the price is
going up a little bit like maybe this thing isn't Over because I thought Mount gox killed Bitcoin
you know in 2014 I was like ah this thing's Over you know and I just started thinking man I
made so many mistakes I should have got more in But then in the back half of 2017 when the price
started really shooting up I was like I got to Jump all in right now if I would have if I would
have had the education here's the important thing People didn't understand if I would have had the
education and understood what I was investing in I would have been able to be a millionaire like
five or six different years alone like just alone Like I could have said 2016 I could have become a
millionaire 2017. you know 2020 2012 2013 you know Could have been so easy for me but I made it hard
on myself because I didn't understand and also the Educational resources weren't really available
back then that they are now I remember in 2013 Like trying to look up what is bitcoin I was like
who is this Japanese guy and why does he have all These miners on his property like I didn't even
understand it you know so I think for really uh You know it can definitely be done in one year if
you understand what you're doing the problem is Too many people come in they just start throwing
money at ticker symbols because this guy said it's Popular and they don't really do the research
themselves to understand like what what's the Difference in investing in some like [ __ ] uh
shib or Sheba and then investing in something like Ethereum or cardano there's a drastic difference
but people kind of look at them the same when They're uneducated and I know everybody wants
you know quick tips and tricks how to become a Millionaire I think one thing everybody should
do is follow bit boy follow altcoin daily for The continued exposure and information because
it's really going to come with uh more complex Understanding so make sure you follow bit boy make
sure you follow altcoin daily but with that being Said Benjamin let's get practical let's get doable
what what tips and tricks do you have for somebody Who wants who's hungry yeah well number one like
I said get education like we'll just that's just A standard you got to do number two you know
it's very simple yet it defies the logic of The psychology that goes into a market Buy in the
red sell in the green and it's amazing no matter How many times I hear that myself so we have a
weekly portfolio video we do every Friday where
We have some sample portfolios a one thousand five
thousand ten thousand twenty five thousand dollar Sample portfolio we have real money in them but
they're really just for our audience to kind of Track along and see you know if they want to mimic
those strategies they can of course they're not Financial advice uh or if they want to take the
strategies that we use and kind of just kind of You know build their own strategy around it that's
good but one thing that's really interesting is Just maybe about six weeks ago I was in Boston for
our our catching up to crypto book tour and I was At crypto lifers house he's another YouTuber when
I'm out of town like sometimes I like to go stream With some other people and so I went to his house
and I did my portfolio video that Friday from his House and it was the day that Bitcoin was like
rocketing like stuff was flying up like ICP was Killing it optimism was killing it like all these
all coins were just killing it Bitcoin was like Right about 25 000 it was doing great and man it
felt good for the first time since we built these Strategies or these uh others back in August
they were all in the green and I was like man This is great we are crushing it feels good let's
wait to do something next week and then the next Week comes around and I said you know when I was
feeling good that's when we should have sold like When I was feeling good about where the portfolio
was that's when I should have said all right let's Take profits so two weeks later what happens is
same thing a bunch of projects fly up in price and I say you know what even though it feels like this
pump is going to continue here we're going to take Profits on a lot of our coins like ICP was one
that like I think we were up two or three times On our money and so like we sold 25 of that out of
our portfolio and we bought filecoin and we bought Uh I believe we bought conflux with it conflux is
up 100 since we bought it so it's this constant Game of like kind of Lily padding like jumping
from this game to this coin that's in the red And then when you get back in the gains jumping
back and doing it all again I think that's really Really a good strategy for people it's the only
way that you're going to take a defined amount of Money and turn it into the maximum amount if
you just didn't hold you're gonna make money In crypto history you've shown that over time if
you're in a crypt over more than four years you're Gonna do well that's what the stats show not
guaranteed to continue in the future but that's The history so with all that being said you know
you can't hold or huddle as we say but if you're Selling in the green and you're buying in the red
all the way through the cycle uh that's when in My opinion you're gonna have the optimum chance
for a success to become a millionaire it sounds Simple but like you said human psychology a lot of
people you know Miss Miss that simple thing and it Is hard to do because obviously it's hard for us
yeah it's hard for us to do even though we know it You know yeah for sure um something else Ben is
or I have a specific thing but is there another Practical doable oh sure sure um here here's
another good strategy in my opinion the the To really gain money to become a millionaire you
really have to you got to have some good picks you
Got to have probably depends on how much you start
with you start with a hundred thousand you should Be able to get there you start with ten thousand
you're gonna have to have some stuff kind of fall And break your way throughout the run where you're
gonna have to have like a coin like Solana not not A great way to put money in now I think but you
know we were talking about Solana when it was a Dollar when all the way up to 250. we're cardano
we were talking about when it was two cents it Went all the way up to three dollars like those
are easy wins that are gonna be able to crush your Portfolio but one of one thing people have to keep
in mind when you're trying to become a millionaire Is not necessarily how are you adding but how are
you preventing your losses because that's really Big the number one thing that I see people do that
are newer to crypto that have been in for less Than four years that make mistake mistake after
mistake the drains our portfolio is thinking to Yourself ah I'm just going to move over to Stables
right now right like oh bitcoin's dropping I'm Gonna move over to Stables I'm gonna move over
to usdc and then Bitcoin will continue to drop And then I'll put the money in down the road well
it's a bear Market strategy that's a good strategy If you once again sell Bitcoin in the green at
the top of a market or or within 20 to 30 percent Of the top over to stables and you ride it all
the way down then you can really enhance your Bitcoin Holdings I'm talking about more on the
micro level to where like oh you know this big Thing happened in in China where they talked about
a Bitcoin man uh ban let's go ahead and sell over To Stables by the time the news hits the market a
lot of times and people are starting to get that Idea of like oh it's gonna go down a lot like
I need to move over to Stables that's the best Way to lose that's the best way to lose I've seen
it over I I've done this mistake you know several Several years ago 2017 2018 I made this mistake
all the time last Market I really didn't do this Um because I learned this lesson what will happen
is is let's say the price of Bitcoins at forty Thousand dollars and you see oh there's this huge
bad news coming out about this ETF or about China Like let me go ahead and take this Bitcoin and
move it over to stables at forty thousand dollars And you're hoping the price goes down to 30 or 35
and you're able to buy back in what happens is the News is like a delayed indicator a lot of times
it's already been moving that direction because Some people some of the big players probably knew
that stuff was already baked in and what happens Is you end up moving Stables on bitcoin over
at forty thousand dollars and the price goes To 50. instead of making money on the price of
Bitcoin moving you've just lost 20 of your Bitcoin Holdings with the same amount so I would say like
to me those are two principles that like I really Think people have got to take in number one is
buying the great or buying the red selling the Green number two be very careful moving your
money over to Stables thinking you're smarter Than the rest of the market I like it and if you
guys appreciate us having the real conversations Smash the like button I'll say it uh this is what
I'm wondering Ben and I don't know the answer to
This but I'm wondering your take on it does your
strategy change in the beginning versus when you Get closer to the million Mark like is there
a difference in what you're doing in the very Beginning versus when you're when you're getting
close to a million or is it exactly the same Uh that's a great question I I don't think you
look being a millionaire is cool like I can't Front like I'm not gonna Flex on y'all and be
like oh man like I wish I was a you know a 70 000 error like no like I like being a millionaire
multi-millionaires it's nice like it feels good It's years and years of validation and work
um or years and years of work validated that Got me here and so there's a lot of cool stuff
about it however the difference between having Nine hundred and fifty thousand dollars and
one million and fifty thousand dollars is not That dramatically different right so to me if once
you get towards the million dollar Mark if you're Changing your strategy you're not really doing
it right you should always be looking to maximize Your wins and minimize your losses I think
in the world of Bitcoin it's very interesting Um because the way that the Cycles work right
like generally what we should be looking at and You know the bear Market is beared it out no
pun intended is one year of down action which Is last year one years of kind of slight upward
sideways action which is this year and and then Next year about halfway through the year we
should finally start seeing things you know Go parabolic in 2025 the price of Bitcoin should
be really really really high you're you need to be Operating against that timeline you don't need
to be operating against where your money is at That moment if you're sending 200 000 and we're
halfway through 2025 you're probably not going To get to a million at that point just with the
way that the time wise the the Cycles uh work out You just have to know the the more important part
is where you're putting your money in during the Different parts of the cycle like that does change
right so right now we're just getting into Quarter Two and quarter three um of this year I was told
by some big Venture Capital uh hedge fund guys The quarter two and quarter three is when you
can look to make your best altcoin investments Um this is when you're looking for like okay we
know cardano is going to win we know xrp is going To win as long as they win the case so we know
ethereum's going up tokenomics are phenomenal we Know Bitcoin is going to go up like we know we
generally know those about the top coins right So I've been really encouraging people over
the last year to really be stacking up those Top coins build build now it's time to start
looking a little further down coin market cap And looking at some of the niches that will
have some big Winners so Layer Two right we Know arbitrum we know optimism we know
polygon they're going to do really well Um you know you look at some of the AI Niche you
look at Singularity agix you look at uh some of These other coins that uh you know fetch dot AI
maybe GRT there's some really good ones over there As well and so you start looking a little bit
further down in those niches and maybe find some
Coins that you haven't necessarily heard of that
you can do research on and find some other winners In those niches this is the time to start doing
that quarter two and quarter three of this year Um so I think it's really your strategy should
change based on where you're at in the cycle not Based on how much money you have you know like I
I think I had a million dollars in my portfolio For the first time on New Year's Eve of 2020.
so it was it was really cool like I saw plenty Of the Run left too you know we had almost all of
2021 to really get up there and it happened quick Like it went it was only about three months that
I turned you know I was probably sitting around I Bought a house and I think I was probably around
150 000 in crypto at that time and within three Months at 150 turned into uh turned into
a million so you just got to understand Where you're at in the cycle and you have to
understand when to take profits in the cycle When to accumulate in the cycle and then what kind
of coins to accumulate based on where you're at I appreciate you coming on I think this has been
great I know the audience wants more and we'll Give them more but at a future date so make sure
you subscribe my final thing I guess Ben is just You know final thoughts last piece of advice
is there one more thing or just general final Thoughts what's going on with you for the altcoin
daily audience yeah I mean the world of crypto is Crazy there's a lot of interesting stuff that
happens uh on a daily basis and um right now The thing that we're all looking at is these
Bank runs and the insolvency of Banks and and I Think that really when you're looking at trying to
become a millionaire like that's great right like Everybody kind of in their heart like wants to
be at a place where you're doing well financially Um you know unless you're you know somebody that
just wants to not have any money which there's Some certain people out there like that but when
it comes to the banks and the insolvencies this is Where you really start to see that crypto is about
more than just making the money you know it really Is about protecting yourself and protecting your
family for the future and when you realize like oh Yeah all banks are insolvent and that's actually
their business plan you can learn how to start Opting out of this system one thing I've gone
through a signature bank was my bank actually Uh they're one of the only banks that would make
me um because of uh you know different dealings With crypto uh you know coinbase wire and in 2020
to buy a house is actually what uh BB T used to Close my bank accounts and so I've been looking
for a way to kind of opt out of the banking system And I think with the last a couple of weeks have
shown is that crypto is great you can make money With crypto but it's about more than that and
it's about can you actually make the move and Opt yourself out of an archaic broken system and
that's when I'm on the on the uh you know the Course to do right now so I'm not getting a new
bank account I I'm you know when signature close My account it's done and I'm gonna be learning how
to live crypto only so really suggest everybody Else like if that's not your plan that's fine
but really I encourage everybody when it comes
To education not don't just get educated about
crypto and how to make money get educated on What this whole thing really stands for and uh
why so many of us so passionately believe in it
