Stories of young investors making millions out of a few hundred dollars of cryptocurrencies are always captivating. It has also played a key role in inspiring traditional investors to dip their toes in the market.
Despite the stormy downturns that tarnish the image of the market from time to time, traditional assets have yet to match the explosive potential of cryptocurrencies. The latest crypto to fuel FOMO is BTC20.
🔹Welcome to the world of $BTC20 – The Revolutionary Staking Token 🚀💫— BTC20 (@BTC20Token) July 18, 2023
🌐A groundbreaking PoS #Crypto token built on #Ethereum!
🔥 We pay homage to the original #Bitcoin while introducing a passive income-staking mechanism that empowers our community of #Cryptoenthusiasts.💰 pic.twitter.com/gB18L4awfR
What you'll learn 👉
Turning Savings from a Part-time Job into a Fortune
Rags-to-riches tales are not new in the crypto market. But the inspiring journey of Daniel Maegaard, turning his modest savings into a fortune remains a classic.
It was in 2013 Maegaard happened to read a BBC article about Bitcoin. He was a psychology student at the University of Sunshine Coast back at that time. Bitcoin was mostly unheard of and still far away from the mainstream in 2013. Still, early crypto nerds had managed to double the price of BTC from $15 to $30 in a short space.
Today, the BTC price stands close to $30,000. And at one point in 2021, it was selling for $68,789.
BTC all-time price overview, 25 July 2023, CoinMarketCap
Seems like Maegaard had seen BTC’ trajectory coming, given the technological breakthrough that underpinned the asset. Excited by the promising price predictions, Daniel started investing in BTC using the wages from his part-time job.
By the time Daniel started investing, BTC was selling for $150 per unit. And toward the end of the year, it had jumped to $950.
Daniel held steadfast to his investment, although there was mounting pressure from friends to exit his position with the generous profits. But he didn’t believe the asset was ripe yet. Instead, he expanded his portfolio to emerging cryptocurrencies like $XRP and $DASH.
Then came the pivotal period in crypto history. From 2014 to 2017, $BTC and $XRP were climbing to new highs, along with Daniel’s portfolio. Stepping into 2017, Daniel found his crypto net worth cross the million-dollar milestone. He was one of the earliest crypto millionaires. The fact that he had a humble beginning makes his story all the more inspiring.
His portfolio balance took another jump when the BTC price rose from $2,000 to $18,000 in 2017.
Beyond BTC and ETH
Daniel’s investment journey had its ups and downs. But it is an unparalleled account of how far diligent investing can take a person with modest beginnings. Young investors willing to do their research and tune out the chaos have plenty of possibilities in the market.
It doesn’t end with BTC. With a market cap of $567B, Bitcoin is largely saturated. It is unrealistic to expect the asset to stretch its market cap 1000X now. The same goes for large-cap assets like ETH, XRP, ADA, and SOL among others. They can’t generate eye-blinding returns for investors anytime soon.
But there are many emerging altcoins whose visions can penetrate the masses with time. A recent example is BTC20, an Ethereum-based token with a unique and lucrative stake-to-earn protocol. It has drawn the attention of young investors for its goal to mirror the trajectory of Bitcoin’s early days.
It combines the principles of Bitcoin with the advanced functionalities of Ethereum and provides another opportunity for those dreaming to replicate the story of successful investors like Daniel Maegaard.
The project has resonated with the young audience as expected. The presale has raised $1,829,377 out of its targeted soft cap of $3,000,000 within a week of going live.
FOMO will Drive the Price of BTC20 in August – Is that Enough?
BTC20’s unique design that parallels BTC’s in many aspects has catalyzed the FOMO. It is one of the top trending coins on Telegram at the time of this writing. Clearly, drawing widespread attention from the crypto community must have been one of the motives behind the design.
📢 Join the #BTC20 Telegram Community! 🚀💬— BTC20 (@BTC20Token) July 24, 2023
Connect with fellow #Crypto enthusiasts, get the latest updates, and engage in exciting discussions about the future of staking and sustainability.
Join us now: https://t.co/gPt73TI9O4 pic.twitter.com/Wvzc6DekXr
For example, each BTC20 is priced at just $1 during the presale – a nod to when Bitcoin was valued at the same level in 2011. But at the same time, it gives a low entry point to early investors and ensures that people from diverse financial backgrounds have a chance to join the presale.
There will be a total of 21 million BTC20 tokens in total. Among these, 6.05 million tokens are sold in the presale at $1 each. The number gives a nod to the state of the Bitcoin blockchain and token supply from 2011, when there were only 6.05 million BTC in circulation.
The remaining tokens will be locked in a staking contract to reward BTC20 stakers. Using the Proof-of-Stake (PoS) consensus protocol, investors can help secure the network while earning rewards. It doesn’t require any expensive computing hardware, unlike $BTC mining.
The impressive staking rewards is the key factor that sustains the value of the token over the years. While BTC20 is an excellent short-term investment owing to the hype generated in social media communities, its long-term prospects are underpinned by the stake-to-earn reward system.
Interestingly, the staking contract will release tokens as per the Bitcoin block schedule over approximately 120 years.
Fertile Cryptos of 2023
Listed below are other cryptocurrencies that have the potential to turn modest savings into millions three to five years down the line. With research away from the hustle and bustle, you will find more candidates for your portfolio.
But here are our top two picks.
With years of volatile activity, cryptocurrencies have earned a name for themselves as speculative assets. But people forget that many of these assets are underpinned by highly market-relevant utilities. The use cases are powered by blockchain innovation and thus can become a game changer in their niches.
Chimpzee (CHMPZ) is a cryptocurrency that aims to reinvigorate climate action using blockchain technology. It makes this possible by launching a three-pillar ecosystem where you can earn passive income. A share of the profits generated from these shop-to-earn, trade-to-earn, and play-to-earn platforms are donated to worthy initiatives that align with Chimpzee’s climate action goals.
The project mostly targets wildlife conservation initiatives.
But Chimpzee’s rare positioning as a social investment doesn’t undermine its financial prospects. In fact, it gives it more scope for mainstream adoption, kicked off by brand and celebrity partnerships.
2. Wall Street Memes
Wall Street Memes (WSM) is one of the most popular meme coins of this season. Top crypto publications cite it as the next meme coin to explode. While most meme coins are fleeting crypto sensations, WSM’s goal is to enter the top-3 meme coin chart within a month of its token launch.
Too ambitious? It seems not. There are multiple factors that work in favor of WSM:
1. Wall Street Memes is a global community of over 1M+. The audience mostly involves investors, traders, and business leaders, who the project has managed to convert into meme coin investors. To put it in numbers, Wall Street Memes presale has raised $17.5M out of its $30M target already.
2. The global audience includes Elon Musk and his engagement has inadvertently added to the hype.
3. Wall Street Memes sold out its NFT collection titled Wall St. Bulls in 2021 in just half an hour.
Judging by the hype around the presale, WSM is a bigger phenomenon.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com