There's. One question I get asked more than anything else. If I had $ 1,000 and had to start completely fresh with a portfolio. How would I turn that into massive gains? Most people here on the interwebs are afraid of a challenge because they'll get exposed if they are unable to do it.
. But you guys know your boy, I never back down from a challenge.. So today, I’m going to give you my strategy to turn a little into a lot. And then I’m going to do it.. Let's. Get it. BitSwap is the hottest new way to trade.
Tokens. Crawling all the top decentralized exchanges. Bitswap gets you the very best price and value for your trades.. Bitswap is changing the game.. Try it now at bitswapdex.io.. Welcome to BitBoy Crypto.
My name is Ben. Everyday. On this channel. I show you how to make money in cryptocurrency.. If you like money and crypto, then make sure to hit the subscribe button., If you want more videos on my personal strategies in crypto, make sure to smash the like button.
So we know you like this type of content.. Also one way I've been able to crush the market over the last month is through leverage trading on Bybit.. If you'd like to trade, Bitcoin or ETH there, you can do so by visiting bitboycrypto.
com/deals and signing up.. Please be responsible, of course, with your trading. And if you don & # 39, t know how to do it. Don't get wrecked. In this video. I'm, going to be explaining the crypto challenge.
I've been given, which is to turn $ 1,000 into $ 10,000. Before the end of this year.. First, I'm, going to break down the ground rules and then I'm going to give you some of the strategies. I'm, going to use to turn $ 1,000 into $ 10,000.
And once we get to $ 10K, we'll, try to figure out what we can do in order to make more. Maybe $ 100K.. We're, going to be putting my skills to the test over the next few months to see what I can do..
We'll track my progress on my daily livestream from time to time., But let's set the ground rules here. First. I can't use any side info. I have or rumors I may have heard about anything. Only information that's out in the open and public square.
. In addition, we will not be using leverage trading for this contest.. I'll, be allowed to swing trade obviously.. If you're newer to crypto swing trading means flipping coins on larger timeframes.. I'll only be using sites that Americans can trade on and every time I make a move.
I'm, going to show it to you.. I haven't, decided exactly where to set up the portfolio yet, but starting on Tuesday, we'll. Have everything going for the livestream.? The question is how the heck am I going to do this? Well, I think the best thing for me to do is going to start off with two coins.
. As the challenge starts. Officially, on Tuesday, I haven't decided exactly which ones I'll, invest in first, because I & # 39. Ve got to see what's happening on Monday and Tuesday.. You may be wondering why only two coins.
Well, the thing is: if you only have $ 1,000 to invest you don't want to overdiversify your portfolio.. You want to be able to take advantage of a coin that kills it.. So if I pick two coins and one of them increases 25 %, I've, made a pretty good additional gain to the portfolio.
. If I pick 10 coins and one gains 25 %, I made $ 25. Not going to help us to reach our goals.. I'm, going to pick one better known coin like Cardano or Litecoin.. Neither one of these projects have re-established an all-time high, so that's, something I'm.
Looking for. Coins that have a much higher previous all-time high gives me more guidance as to where it can likely go.. If you look at DOT, for instance, it's hard to know where it's going. It wasn't around in 2017.
. I would rather have coins that I can clearly see where my portfolio will be if they reach their potential.. I'll, also be picking a smaller coin.. This one is going to require much more research.. This will be a project outside of the top 100.
. Now I'm, not exactly sure how low I & # 39. Ll go to find it, but probably I won't go outside the top 400.. It gets way too speculative, and I told you guys before a portfolio should not be loaded down with super speculative picks and instead should have more solid picks.
. A lower percentage of your portfolio usually should be smaller. On Tuesday on the livestream. We will pick out the two coins I believe can get us to gain land.. Then we will track their progress and when the time is right, I'm, going to jump out of them and into more coins.
. I'll. Try to double the $ 1,000 to $ 2,000.. At that point, I will diversify into three to five coins. Out of the $ 2,000 we would have made.. We will be looking for coins that have a lot of opportunity at the time.
. How would I know which ones will be next? Well, that's, actually pretty simple.? I love me some red days.. We will look for projects that have had a bad day or week on the markets.. We love going shopping when altcoins are on sale.
. When there's blood on the street, we'll buy more.. If we feel some overall downward momentum in the market, we could also move over to stablecoins to take advantage of that.. That's, a good way to immediately make big gains.
Move out of alts and into stablecoins before they bleed., But just know it's, a pretty tricky strategy, but something we could definitely make use out of in a pinch.. We're, going to make sure everything is transparent, so you guys see what we're doing.
, I've, never met a challenge that I could knock out Little Mac style and this one is going to be no different.. Hope you guys come join us along for this ride. Drop me your suggestions for coins. You think I should pick and what app or wallet should we use for this challenge.
Put those down below in the comment section.. If you think I can turn $ 1,000 into $ 10,000, starting fresh make sure to smash that, like button., If you don't think I can do it smash that dislike button.
. I see you haters., That's. All I got. Be blessed. BitBoy out