1) If you want to become a crypto millionaire there are two things you need to know: The first one is often overlooked because some people spread the lie that its super easy to turn $100 into millions of dollars.
Well, I know that scenario has happened before when Shiba Inu investors got super excited after they noticed how much their money had grown.
But on the other side, you need to know that this doesn't happen all the time because on average you are supposed to have invested a capital of up to $100,000 into some crypto coins to be able to make that kind of profits.
Your initial investment is a determinant of how much your trading goal should potentially be. if you invest $1000, you could have a realistic trading goal of $1000
2) Its important to have a diversified portfolio. There is a popular saying that explains this point, It is "don't put all your eggs in one basket".
Investing in Bitcoin and Ethereum are safe options, but you need to understand that there are also mid cap alt-coins that could generate lot of profits within a short period of time.
3) This is how to diversify your portfolio in 2 simple ways: (i) By asset use case: some examples are gaming tokens, security tokens and nft tokens. (ii) By industry focus: examples are artifical intelligence tokens, decentralized social media tokens & decentralized finance tokens
4) Crypto is not a get rich quick scheme, so the idea of trying to trade yourself into becoming an instant millionaire is a risky thought that could empty your portfolio fast. Instead you need to have reasonable expectations as regards the profits you can make over a period of time.
5) Don't get too excited when you make profits that you forget to exit the market. A lot of people make the mistake of getting too excited that won't sell even after they make massive profits from investing early on. A reddit user shared his experience of how he invested $7500 and the crypto value grew into $1,000,000 before the crypto project collapsed (I really hope he was able to exit before that incident)