5 days ago
It's Not Too Late To Become A Bitcoin Billionaire. Here's What You Need To Do
If you're curious about Bitcoin but haven't made a move yet, you're not alone. The hardest part is getting off zero. That place of paralysis — where you're interested, but overwhelmed — is where so many people get stuck. But, like anything, the way forward is a single goal broken down into manageable steps.
Let's say your goal is to accumulate as much Bitcoin as possible before adoption goes mainstream. That's a great objective. If I were starting from zero today, here's exactly what I'd do:
Start by opening an account with a cryptocurrency exchange. If you're in the UAE, BitOasis is a good option. It's intuitive and easy to use. You'll need to complete a process called KYC, or Know Your Customer, by providing basic ID documents. Down the road, the platform might ask you to verify your knowledge about investing before allowing higher-level transactions. Don't stress, it's standard and manageable.
Don't throw your savings at Bitcoin right away. Don't think you have to go in even with a few thousand dirhams. Start with Dh100, Dh250, or Dh500. Pick an amount you can afford to lose and more importantly, afford to continue investing regularly. Think small, sustainable, and repeatable.
Pick a daily, weekly, or monthly investment amount and stick to it. This strategy is called dollar-cost averaging, and it protects you from trying to 'time' the market. You'll be buying Bitcoin at a variety of prices, and over time, that averages out. The key here is long-term commitment. You're not in this to make a quick buck — you're buying and holding a scarce digital asset. After years of struggling to save regularly, doing this with Bitcoin has proved not only doable but also addictive. Remember: there will only ever be 21 million Bitcoins. And institutional investors are already scooping them up in a major way. That alone is reason enough to get serious.
Understanding why Bitcoin matters is essential. Start with reading The Bitcoin Standard by Saifedean Ammous. Watch Strategy founder and Bitcoin maximalist Michael Saylor's talks — he speaks clearly and compellingly about Bitcoin's value from a corporate perspective, but it translates to individuals, too. I also like Mark Moss, who talks about how to retire using Bitcoin on YouTube. Subscribe to Bitcoin newsletters like The Daily Bitcoiner and set up Google Alerts for 'Bitcoin news' to stay in the loop.
This part might surprise you. But in the beginning, don't talk about your investments. Most people don't understand Bitcoin and their scepticism will chip away at your confidence. They might also make fun of you. (The joke's on them, but it will probably take awhile for that to become apparent. Who needs ridicule from the obtuse?) Instead, seek out others who are knowledgeable and positive about the space. It'll help you stay grounded as you learn.
Bitcoin isn't a sprint — it's a marathon. This isn't crypto madness; it's sound money. The learning curve is steep, but it's worth it. Over time, as your knowledge grows, so will your conviction. And as your Bitcoin balance grows, you'll reach a point where you're ready to take the next step.
When you reach an amount you'd be uncomfortable losing — only you will know when this is — it's time to move your Bitcoin off the exchange and into a wallet you control. A hardware wallet like Ledger is a great option. This will involve setting up a 'seed phrase' — a set of words that gives you access to your Bitcoin. Never lose it. Never share it. Keep it safe in multiple secure locations.
Once you're comfortable with Bitcoin, you might want to expand your learning: Raoul Pal is a brilliant voice in the space. Coach John Vasquez (coach JV) offers accessible foundational courses. Mike Dillard's 'Richer Every Day' community and his Crypto 101 course are excellent resources. Eventually, maybe other large, mid or small cap projects will catch your eye. Always do your own research. As you go deeper, DCA still applies. But also remember: altcoins are riskier. Some may yield massive returns. Others may not. Always invest only what you're willing to lose.
If we're heading into a bull run, and it seems like we might be, it's tempting to jump on every new coin. Be cautious. Don't buy at the top out of FOMO (fear of missing out) and don't give into FUD (fear, uncertainty, and doubt). Stay grounded in what you've learned, and what goal you are pursuing.
As your confidence grows, something else happens. Your mindset starts to shift. You begin to notice more conversations, resources, and people in this space. You've awakened your reticular activating system to something new, which means your awareness has expanded. You're now open to new possibilities and in many ways, that's what this entire journey is about.
