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