The crypto space is constantly evolving, and along with it come the stories of people who are increasing their wealth here. But what is behind their success? How did the leading crypto investors, traders, and entrepreneurs achieve their results in this field? In today’s article, we will look at the most high-profile success stories that have become an example for other investors and analyze the key factors that allowed them to achieve such impressive results.

The First Step to Success: Early Investments

Probably everyone in the industry has heard stories at least once about a guy who sold his 10,000 Bitcoins for 2 pizzas, or someone who accidentally threw away a hard drive with 8,000 BTC on it. But have you heard the story of the man who accidentally became a Bitcoin millionaire?

Well, the hero of the story is Kristoffer Koch, a Norwegian engineer who, in 2009, had no idea that his academic curiosity would turn him into a cryptocurrency millionaire. When the price of 1 Bitcoin was even less than $1, Koch was working on his dissertation on encryption. Interested in the potential of the decentralized digital currency, he decided to invest $22-$27, purchasing approximately 5000 BTC. At the time, Bitcoin was unpopular, so Koch’s investment was more of a technical study than a financial one. Immediately afterward, the man forgot about his small investment and lived his usual life, not paying attention to the changes around digital assets.

However, everything changed in 2013, when the price of the first cryptocurrency experienced a significant jump, attracting the attention of many investors. So, when all the headlines in the media were about Bitcoin and its $200 price, the engineer remembered his long-forgotten investment. When he accessed his wallet, he discovered that his wealth was about $886,000. However, Koch did not succumb to the madness of his newfound wealth but made a practical decision by purchasing a new apartment for a portion of his Bitcoins.

Given his story, two main strategies led to a successful outcome. The first is the initial coin offering (ICO), when investors invest in projects at the start-up stage, allowing them to make a significant profit if they are successful. The second, albeit random, in his case is HODL. The essence of this strategy is to buy cryptocurrencies for long-term storage in anticipation of a significant increase in value.

From $30 a Day to a Million: How the DCA Strategy Changed the Investor’s Life

Another investment success story: a user with the nickname regothetrader turned a daily investment of $30 into a portfolio worth $1 million in almost 8 years. At the age of 22, he started his strategy of gradual Bitcoin purchases. Every 12 hours, regardless of the asset’s exchange rate, Rego invested $30.

Talking about his experience on social network X, he admitted that such discipline required personal sacrifice: ‘I sacrificed going out with my friends to allocate to this belief. I stayed home. I didn’t buy a new car. I didn’t buy fancy things. I kept it minimal.’

On 13 November, he announced that his persistent DCA strategy had brought in $1,000,000 in 7 years, 10 months, and 12 days. In total, Rego has invested $86,370 in cryptocurrency.

‘The truth is, Bitcoin is not a risk, it is a matter of understanding. The more you learn about it, the more obvious it becomes.’ the investor emphasized.

The dollar-cost averaging (DCA) strategy involves spreading purchases over predetermined intervals, regardless of price. According to a survey conducted by Kraken, 59% of investors use DCA as their primary investment strategy. Among the most common reasons they cite are hedging against market volatility, maintaining consistent investment habits, and eliminating emotions in trading.

Know Your Product: The Role of Research and Knowledge

Most of the success stories are about young investors, but one of the most incredible stories is about a teenager who started investing when he was just 12 years old.

Erik Finman is an ordinary guy who managed to turn his Bitcoin investments into a huge fortune by the time he was 18. His family was not wealthy, but Eric’s life changed when his grandmother gave him $1000. As he had always been interested in technology and innovation, he learned about Bitcoin in 2011. Seeing the potential of the new digital currency, Eric decided to invest his $1000 and bought his first Bitcoins with it. At that time, the world was skeptical about cryptocurrencies, and the asset itself was trading at only $12 per coin.

For the next few years, Eric studied and gradually traded coins. At the age of 15, after falling out with his parents over his unwillingness to continue his studies at school, he decided to sell some of his investments. Having received $100,000, he invested it in his first business, which he started in his room. Finman really disliked going to school, so he created his own company, Botangle, where teachers conducted their classes online. After 2 years, he decided to sell his business for 300 BTC. So, when the first cryptocurrency rate exceeded $2700, 17-year-old Erik Finman became a millionaire.

Looking at Finman’s story, one can understand that he used similar strategies as Koch. However, their approach to business was different. Finman was a curious guy, so he dove deep into the world of cryptocurrencies, learning everything he could about Bitcoin and blockchain technology. He didn’t just invest blindly; he decided to research the market, study trends, and understand Bitcoin’s full potential.

Investors on the Wave: How the Launch of $TRUMP and $MELANIA Generated Million-Dollar Profits

Following the recent inauguration of US President Donald Trump, the crypto industry has been rocked by a wave of new profit stories. The reason for this was the launch of the $TRUMP meme coin on 17 January. The value of the coin skyrocketed from $0.18 to $3.7 after the launch announcement. Within an hour of the launch, one trader managed to earn $20 million. According to Lookonchain analysts, about 90 seconds after the announcement, the trader spent ~$1.1 million USDC, purchasing 5.97 million $TRUMP. A few hours later, these tokens were valued at over $116 million.

Later, the trader decided to distribute his assets among 10 different Solana wallets and began to gradually sell the coins the next day. According to the research company Bubblemaps, by the morning of Monday, January 20, he had sold $85 million worth of TRUMP, leaving $75 million worth of tokens. However, this was not the end of his story, as First Lady Melania Trump followed her husband’s example and issued her own meme coin, which was used by the trader. One of the wallets associated with the user bought a huge amount of MELANIA tokens a minute and a half after Melania’s post on Truth Social. To finance the purchase of MELANIA, the trader sold $45 million worth of TRUMP, which led to a drop in the token’s value of almost 50% on Sunday evening, according to Bubblemaps.

Other anonymous traders who made millions on the First Lady’s tokens did not go unnoticed, either. One of them spent 2,500 SOL ($688,000) to buy 5.2 million MELANIA for $0.13 and sold them four days later, earning a profit of 6208%, or $42.7 million.

The stories of these anonymous traders once again emphasize the importance of early investment. But don’t forget about one of the main risks — FOMO, the fear of missing out on an opportunity, which can force you to make unpredictable decisions that lead to large losses.

How to Optimize Your Trading?

Optimizing the crypto trading process is a key factor in increasing its efficiency and profitability. Therefore, the use of appropriate tools will help to make this process more convenient and efficient, as well as significantly simplify it.

How to Avoid the Most Common Investor Mistakes?

Investing is a great opportunity to grow your capital, but beginners often encounter common mistakes that can be costly. Therefore, to minimize risks, you need to understand these mistakes and know how to avoid them.

A responsible approach, patience, and a willingness to constantly learn are some of the best allies in the crypto space. Avoid common mistakes and let your investments bring profit in the long run.

Originally published at https://hackernoon.com on February 12, 2025.