Youngest Crypto Billionaire

Nowadays, cryptocurrency has become a common term, and almost every person you ask at least knows a bit about this popular payment network. As this digital currency entered the mainstream, more and more investors became interested in the crypto market. Indeed, cryptocurrency has broken the boundaries among countries as it has become one of the widely accepted payment methods. Even young people are getting hooked on cryptocurrency, and most of them want to own crypto. 

What is cryptocurrency? 

A cryptocurrency is a form of digital currency that is decentralized -meaning it is not controlled, issued or distributed by the government.

The first cryptocurrency was invented in 2008 by a person or a group of people under the pseudonym Satoshi Nakamoto. It made its debut in the market in January 2009. This cryptocurrency is Bitcoin – now bagged as the first and most popular cryptocurrency with a market cap of $1.11 trillion. As of today, 18th of November 2021, Bitcoin’s worth dropped to $59,490.30 from an all-time high value of over $62,000. 

The most common way to acquire cryptocurrency and Bitcoin is through mining, and the other is buying or investing. Mining requires rigorous energy through the use of powerful computers or devices. In this process, the computer works by solving complicated algorithms or mathematical problems. A peer-to-peer network is utilized, and every data and verified transaction is recorded in a decentralized public ledger called the “blockchain”. 

In terms of investing, there are so-called long-term and short-term investments. Long-term investment refers to buying cryptocurrency and holding it for a year or longer. Here, investors don’t really mind price fluctuations and focus on long-term goals. On the other hand, short-term investment refers to buying crypto for a low price and selling it high. They are also called traders who usually monitor the price movement in the market.

Will crypto make you rich?

Since the creation of cryptocurrency, many critics and skeptics have considered it a speculative investment. If you have invested in cryptocurrency since the date it was first conceived and held it long-term, you could be one of the millionaires or billionaires rather. You can check out various cryptocurrencies on Bitcoin Prime

However, know that cryptocurrency is highly volatile. There is no guarantee that it will make you rich, especially when you are unfamiliar with the strategies of making a profit out of your assets. 

Youngest Crypto Billionaire

Do you know that the youngest crypto billionaire was just 12 years old when he started investing? Yes! You heard it right! Vitalik Buterin, now 27, is renowned as the world’s youngest cryptocurrency billionaire in this generation. Who would have thought that as young as 12, he came up with the idea of investing money into cryptocurrency – which during those times was just a budding form of digital currency. Buterin is now the co-founder of the second largest cryptocurrency – Ethereum. This Russian-Canadian young man has started small and ended up big. He was born in 1994 in the small town of Koloma in Moscow, and at the age of six, his family moved to Canada. When he was a child, he was encouraged by his parents to play the piano and always took him skiing. But these activities were not his cup of tea. More than anything, the young boy loves programming. He began coding at the age of five and started writing his own game at the age of 10. He first heard of Bitcoin in 2011 from his computer scientist father, Dimitry. He became interested and decided to explore it further. He began writing articles about cryptocurrency, and late on in 2011, he became a co-founder of a publication named Bitcoin Magazine. He used to be obsessed with studying. In 2012, he was enrolled in Canada at the University of Waterloo but dropped out later on to pursue cryptocurrency projects. In 2015, he became the co-founder of Ethereum. He became successful in the field and owned billions worth of cryptocurrency. In fact, he even donated $1.14 million to India Covid Relief Funds. Recently, according to Forbes,.his net worth is around $1.46 billion.  He envisions cryptocurrency as a medium in improving people’s way of life. 

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