I saw something on Reddit today regarding a person who settled a student loan with cryptocurrency. The dude bought a few hundred dollars' worth of BTC in 2020 with the aim of settling a $50k student loan. BTC's recent spikes allowed him to settle the loan in full. It was something that reminded me of my own crypto profits in 2021.
It was in December 2019 that I got to know about crypto. I didn't know much about it until I started blogging in 2020 when we had the lockdown because of COVID-19. Reading and blogging, and reading others' writings, taught me how crypto worked and how I could invest in it to earn profits.
My very first cryptocurrency was BCH. I obtained it relatively seamlessly since I was earning rewards in BCH for my blog articles. The blogging website had exposed me to DeFi staking, and in doing so, offered me a way to invest the BCH I had saved up.
I started with only $5 of BCH. I used it to buy a new Dex token. That $5 appreciated to $500 in 2 weeks before the token price collapsed. I was lucky that I got out before the crash.
With my new $500, I spent it all on DeFi staking by buying another new Dex token and staking it. My goal was simple - I wanted to buy a plot of land and a car for my family. These were big dreams that seemed at first to be distant. I wanted to take the $500 and turn it into $1k with which to buy a plot of land my initial goal. DeFi staking has been my most successful crypto experience thus far.
I kept it simple and didn't get greedy. I staked my tokens, earned my daily rewards, and restaked the reward tokens again. After 3 months, I had achieved my goal because the price of the tokens kept going up. These rewards opened up more options for me in DeFi.
When I cashed out my profits, I invested a portion of it in a different project and used the rest to buy my land in December 2021. I kept doing what worked in the first place. Since my blogging paid for my daily spending, I never touched my investment money. In March 2022, I reached my second crypto goal of buying a car for my family. I even started building on my land before the burst of the crypto bubble in September 2022.
I fulfilled both my dreams of owning a plot of land and buying a family car with the help of crypto gains, starting small and staying focused.
Crypto gains come in different sizes and shapes. There are those who win just enough to pay off student loans for themselves, while others win enough to buy houses, cars, or real estate. The appeal of crypto gains is that it can turn small amounts into huge sums if played with strategy and patience. Big or little, these gains have the potential to change lives and realize dreams.
What have you done with crypto? Tell us in the comment.
The image used is AI generated.