What can notorious drug dealer “Freeway” Rick Ross teach you about BitCoin? A lot actually.
Ross is personally responsible for the 1980’s crack cocaine epidemic. Building his criminal empire from the ground up and turning it into a billion-dollar business.
While Ross no longer sells drugs, there’s still plenty to learn from him. Especially his idea on how to start a business from nothing.
If you’re curious about buying and trading Crypto Currencies, but worry about the price, read this article.
It’ll change your entire attitude.
Grind For Your Starting Funds
(If You Have Any Access Money, You Have Enough To Start Investing)
Freeway Rick Ross says that many drug dealers get their start with as little as $25.
An aspiring drug dealer does low-paying, menial tasks, gets a couple bucks, and invests that money into their operation. They hustle hard, grinding out profits and reinvesting the extra cash. You can do the same.
Many would-be investors complain that they don’t have the funds for buying BitCoin. In reality, you can purchase any Crypto Currency in fractional amounts. This means you’re able to buy $100 worth off CoinBase, and get started that way.
And, if you’re really strapped for cash, you can always do simple tasks for free Crypto Coins. This isn’t always the most effective route, but it pays.
Plus, it’s a good way to build your assets if you’re on a budget.
If you’re in high school or college and want to start trading Crypto Currencies, I’d suggest this method.
Scale Upwards With Your Profits (Like A Drug Dealer)
What separates a kingpin from a failed hustler?
How each uses their money.
Great dealers scale upwards. Once they’re making money, they buy more product. Business comes first, and it’s where most of their earnings go.
Investing, like drug dealing, is a world of fast money. Small fortunes are made in a single day.
But don’t let this go to your head.
Most people get a big payday and they rush out to buy new clothes or a car. Instead, keep the money in cash and use it to reinvest when you see a good opportunity to do so.
This is what I’m currently doing with my Crypto Quest series.
The goal is to take a couple hundred bucks, flip it profitability, and then reinvest during the next BitCoin dip.
It’s a smart system for maximizing your money and taking advantage of great opportunities.
Reinvest Into New Sources Of Income
(While BitCoin Fell, My Stocks Continue Growing)
Freeway Rick Ross explains that the best drug dealers “quit the game” while on top.
If there’s too much competition or they fear a crackdown coming, they take their profits and reinvest into legitimate businesses. This creates multiple streams of income, helping to protect their wealth. It’s a smart idea and one that’s applicable to investors, too. Unless you own revenue producing assets (like dividend paying stocks or a rental property), you’ll want to sell your goods once they’ve gone up in value.
Here’s an example.
Imagine buying three BitCoins in August of 2017. You pay $9,000 for all of them. Then, three months later, you’re coins are worth over $30,000. You’ve tripled your money in less than a year!
This is a great time to take the money and run.
Cashing out high, and collecting your incredible gains. Unfortunately, many investors didn’t do this. They figured prices would continue climbing, so they held on. This worked for a little while (BitCoin peaked around $20,000 per coin), but then it imploded. The market crashed and prices fell.
Instead of cashing out with $30,000, they ended up with $15,000 or $18,000. Still a nice gain. But nowhere near it’s earlier price.
Smart investors keep an eye on multiple markets, switching between each as prices fluctuate.
Doing so allows them to make big profits, then “fall back,” and reinvest into another up and coming venture. This might be stocks, real estate, or even something like venture capital or angel investing.
When you’re experiencing windfall profits, take some of this money and put it towards a second source of passive income.
This diversifies your portfolio, protecting you from market volatility while growing your wealth.
Closing Thoughts
If you want to study business, pick a drug dealer and read biographies on them. Most of them came from nothing, strategically flipping goods and scaling their business until they reached the top.
Growing your Crypto wealth is doable in the same way. And legally too.
By starting small, reinvesting profits, and diversifying your holdings, you can build your very own BitCoin empire.
P.S. Looking for instant 10% gains on your first BitCoin purchase? Then join CoinBase through this link. You’ll get a $10 bonus after depositing your first $100.