“The amount of good luck coming your way depends on your willingness to act.” – Barbara Sher
Yesterday (Dec. 19), while sitting in a Starbucks in Vaughan, I decided to purchase gold and silver on Silver Gold Bull after I happened to randomly notice that this particular website was accepting crypocurrency as a payment. As a matter of fact, I spent majority of my Bitcoin that I had in my account that day, just on a hunch.
I had already been purchasing gold and silver bullion from my own personal funds for some time now but I had no idea a reputable brand like Silvergoldbull.com took cryptocurrency. For some time now, Canada has been on the list of countries that banned the withdraw of Bitcoin, Ethereum, and Litecoin from the Coinbase platform to citizens’ personal accounts. For that reason, I have been purchasing both Bitcoin and Litecoin for some time now and letting it just increase in value exponentially.
I know a few people who were lucky enough to have bought bitcoin years ago and are literally buying homes and foreign cars with it. I, unfortunately was a child when bitcoin was first available and was not a tech-kid to have had any knowledge of it. Nonetheless, I always believed that the best time to invest is now, so I dipped my toes into it a few months ago.
For nearly half a year, I have been dumping money into Coinbase-accepted cryptos and have watched my investment grow but I had no idea when I could withdraw my profits. Stumbling across that bullion website and purchasing physical gold and silver bars with money that I grew in my account out of thin air not only was shocking, but was revolutionary to my thinking. I had never expected to invest in something and see it grow 5x and more in less than a few months. Nor did I expect to use that new “asset” and buy a tangible asset solely out of the major profits that I had made with a new form of currency. It was liberating. So much so that I celebrated with chipotle, cheesecake from The Cheesecake Factory, and huge smile on my face all night.
The point of this post to inform my readers that the best time to invest is NOW. It does not mean invest in anything and everything, but do your research and invest with money you won’t mind losing. Investing in cryptocurrency in my personal opinion is like playing with a dog you have seen save someones life but have also seen gnaw someone to pieces. It’s just a matter of luck.
What I ask of you is to not just look to cryptocurrency, but to look for things that can have you ahead of the curve. I bought kilos of bullion where others have bought houses with cryptocurrency, I don’t mind that. Yes, I was able to purchase THOUSANDS of dollars worth of silver and gold with a currency that blew up in value but that doesn’t mean that tomorrow my Coinbase account value couldn’t drop to zero because cryptocurrency has become obsolete. Do your research and find stocks, real estate opportunities, business opportunities, untapped markets, anything that you see a future in that the majority does not.
I promise you, there is a euphoria in buying an asset with the profits you have made from another asset. It’s cool to make money moves. It’s cool to be able to be in a room knowing you carry financial weight. It’s cool to be an owner and to be able to tell your kids you own this property, this much of that business, these stocks and bonds, etc. Start pushing towards being a boss. To be a boss, you must be an owner. Start owning.
Until next time,
Live Long and Prosperous.
Value Investing Millennial Jahnome McEwan provides FIFTY tips for Young Adults looking to build wealth from now. If working a 9-5 until retirement twists your stomach, Jahnome has a way to get you out of it!
Click here if you are interested in learning how!
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