A Millionaire Bitcoin Investor Shares His 5 Secrets For Financial Success

Introduction

Sitting in his swank 42nd Floor office in downtown Manhattan, Philip Edward is not your run-of-the-mill Wall Street investors. He begins the interview by stating that he has always shied away from following in the footsteps of other investors. 

He starts the conversation by stating that he is different from others as he usually maintains a distance from financial assets like- 

• Stocks and Shares
• Government Bonds
• Commodities
• Fiat Currencies
• Precious Metals

He states that now his portfolio is built up of two main areas- Cryptocurrencies and Startups. For any traditional investor, this might seem strange and confusing. However, Edward states that being different has allowed him to gain millions of dollars in a very short span of time. 

We request him to share his five secrets for gaining financial success by investing in cryptocurrencies like Bitcoin. 

5 Secrets to gain Financial Success by Investing in Bitcoins: The List

1. Gain the First-Mover’s Advantage- 

Edward begins the secret list by stating that serious investors should start early and seize the opportunity. The first mover’s advantage means that you are picking up assets at a low price and riding the growth for a long time. 

He also states that picking up new assets like Bitcoin at a low price reduced your risks and exposure in a major way. He also says that some of the best investors have cashed in on stocks when they started showing promise and held on to them for the long haul. 

2. Create the Best Support Ecosystem for your Investment- 

According to Edward, every investment you make needs to be backed up with its own support system. When prodded, he states that the support system comprises of your information gathering platforms, trading platforms and forums, or communities you follow. 

He states that following the latest Crypto Legacy Pro can help investors keep their ears close to what government officials and other authorities are stating about Bitcoins and other cryptocurrency investments. 

3. Never think of Bitcoins as your only source of Income- 

Edward mentions that at no point should investors start thinking of their Bitcoin investment as a source of income. He says that this is a cardinal mistake, which should be avoided at all costs. This helps in easing the pressure of not selling early and gaining huge profits later on. 

He points out how scared investors started selling their Bitcoins at the first sign of trouble during the start of the pandemic in February and March. The regret they faced when they saw Bitcoins breach the 12K mark in August 2020 was immense. 

4. Diversify your Cryptocurrency Investment Portfolio- 

We asked Edward about his various investments in cryptocurrencies and which ones does he recommend the most to first-time investors. He states that his entire crypto portfolio is divided into three- Bitcoin, Litecoin and Ethereum. 

He also put on record that sixty percent of all his holdings are in Bitcoins, while the rest is evenly divided between Litecoin and Ethereum. He highly recommends diversifying crypto portfolios and maximizing profits from different investments. 

5. Strike a Balance between Patience and Calculated Risks- 

We also asked Edward about some of his investment mistakes during the course of the interview. He stated that there have been instances where is impulsiveness has resulted in losses. He recommends that investors should try to ensure a balance between risks and rewards. 

Elaborating on the same he states that being too patient is also something, which should be avoided. He suggests going in fast if the risks are low and being patient when the risks are high. This balanced approach will prevent you from getting into financial losses. 

The Final Word

Concluding the interview, Edward mentions that getting investing success is something, which differs from person to person. He also states that what would work for him, might not work for someone else. However, he states that his five secrets can cat as a solid foundation for people looking to invest in cryptocurrencies like Bitcoin.