Nowadays, the 20s are a very tricky period for most young people. That’s because, unlike in the past when people in their 20s had stable jobs, a family and a promising career, the average 20 something year old today is broke. Most people in this age-group are now struggling with issues such as student loans, car loans among others. That might leave you feeling hopeless when it comes to investing, right? Well, don’t be! Thanks to Coinseed, you can now invest tiny amounts in cryptocurrencies, and grow a portfolio over time. Coinseed will have an ICO in 6 days, and will help many cash-strapped people in their 20s, yearning to invest in cryptos. You should definitely check it out! However, putting in tiny amounts of money in cryptos is not the only way you can create crypto wealth in your 20s. There are a multitude of ways you can make money through cryptocurrencies, while still in your 20s. Here are some of them.
1. Invest in altcoins
If you are in your early 20s, then you have the whole decade ahead of you before more serious commitments such as family can eat into your finances. Use this period to identify some high potential altcoins and invest in them, preferably those valued under a dollar. The rationale behind this kind of investing is simple. The crypto market has proven time and again that over time, a coin can significantly grow in value. Even bitcoin was worth pennies a few years ago. Today it’s trading at thousands of dollars. For someone who invested in the 2010s when it was worth pennies, even the current slump has no impact on their investments. It would take a bitcoin collapse to below a dollar for them to feel the impact. We are all sure that that will never happen.
That’s the same strategy you should take. Put your money in a high potential altcoin and hold it throughout your 20s. By the time you reach 30, that coin will have grown so much that the risk of losing your investment in a price collapse will be totally diminished. In short, such an investment could be your ticket to a comfortable retirement in your early 30s. Isn’t retiring early the dream that almost everyone chases, but many never achieve? Besides, by investing in low cost but high potential altcoins, you get to accumulate a substantial amount of altcoins even when you don’t have much money. For instance, if you only $500 on you, and want to buy an expensive coin like bitcoin with this money, you would only get a fraction of it. However, for the same amount, you can get a large amount of an altcoin that is worth say $0.002. If in the next 5 years that altcoin hits $10, your $500 would have grown into thousands of dollars.
2. Develop a decentralized app
Actually most successful entrepreneurs laid their foundations of success in their 20s. For you to increase your chances of success as a developer for decentralized apps, try and develop an app that is most in line with your passion. For instance, if you love finance, you can look to develop something that is most in line with solving finance related problems. The best part is that even if you were to fail in your endeavors to develop a successful Dapp, the skill you will have acquired can help you land a job on a major project as a developer. Blockchain developers are in high demand right now and with such skills, you are guaranteed of a career where you make over $150k a year. That’s more than most people make in their 20s. In short, you would be set for life, since by the time you hit 30, you would be what is considered a veteran developer, commanding massive respect in the tech industry.
3. Run a blog
Blogging has always been profitable, but it is about to get even more profitable with the coming of blockchain based blogging platforms. As such, you can use your free time in your 20s to learn about cryptos then blog about them. This can give you a high and sustainable income by the time you hit your 30s. To enhance your chances of success, focus on one aspect of cryptocurrencies, then be really good at it. For instance, you can focus your blog on promising ICOs. Since ICOs will always be there, you are sure that a blog focused on this area of the market would be around for a long time.
4. Buy coins that run Masternodes
Staking coins that allow you to run a Masternode is a nice way to earn yourself a passive income. That would be an excellent strategy for you to build wealth in the long-run. Since most coins that allow you to run a Masternode require you to hold a significant number of coins, you can take a long-term approach to it. For instance, if you are 20, you can give yourself a timeline of 5 years for you to accumulate the necessary number of coins required to stake and run Masternodes for at least 5 coins. That would give you a good passive income by the time you are 25. Such a strategy is perfect for a 20 something year old looking to take the cryptocurrency route to wealth.