7 Best Bitcoin Success Stories
Originally published on: CoinSpeaker
Read the original article
January 12, 2018
It is true that every cryptocurrency does not successfully climb up to success, some fail and this is why investments require a prudent sense of understanding of cryptocurrencies before investing in them. But when altcoin investments are the topic of discussion, Bitcoin inevitably rules the stage. There is no doubt about the success that the first ever cryptocurrency has seen since its launch.
If you have done your research on Bitcoin then you would know how the altcoin has increased in value year over year, month over month making it the highest valued cryptocurrency. Let us tell you about a few people who rode the early bitcoin and altcoin wave and are enjoying the life of a millionaire today.
Bitcoin Millionaire Erik Finman
In May 2011, Erik Finman’s grandmother gave him $1,000. He was just 12 at that time. Finman decided to put all the money in Bitcoin. In 2013, the value of Bitcoin increased and he realized that the amount was worth $100,000. For a high school student, Finman had done exceptionally well with his investments, so he finally decided to quit school and start his own company.
Finman makes no bones about his dislike for the current education system. This is why he established an organization call Botangle which provides peer to peer tutoring service through video chat. When in 2015, Finman found a buyer for his company, he was offered either $100,000 or 300 bitcoins. At that time, Bitcoin was a little less than $200 but Finman decided to take the Bitcoin offer because he was confident that it will soon grow in value.
In 2017, Erik Finman became a millionaire at the age of 18. He quit school and has no plans to go to college either. He currently uses multiple wallets and multiple machines to secure his Bitcoins since all the media attention can make him a target.
Kristofer Koch’s Bitcoin Success
In 2009, Kristoffer Koch who is a Norwegian electrical engineer decided to invest 150 kroner ($26.60) in 5,000 Bitcoins. At that time, Bitcoin had just started and the idea was fairly new for many people. He had come to know about the Cryptocurrency when he was writing a thesis on it. With the investment being relatively meagre, he forgot about it and had no idea what they may be worth until he came across media coverage regarding the success of Cryptocurrencies.
It took him a considerable period of time to remember his private key in order to access his wallet. When he finally found the private key, he realized that he had 5,000 Bitcoins in his wallet. It converts to NOK 5m or $886,000.
By exchange 1000 Bitcoins, Koch had enough money to buy an apartment in the wealthy neighbourhood of Toyen in Oslo.
Koch had never imagined how well the $26.60 investment would pay off. With a house of his own and 4,000 Bitcoins still waiting in the wallet for him, this is one success story that really makes us wish if we could time-travel to the early Bitcoin days and make an investment.
Getting Paid in Bitcoins Made Olaf-Carlson Wee a Millionaire
In February, 2013, Olaf-Carlson Wee was 26 years old when he was hired by a Bitcoin startup company. At that time, Bitcoin was valued at $20 to $30. He realized the potential of Bitcoin and Cryptocurrencies and so he decided to get paid in Bitcoins. People were still very new to the concept of Bitcoin and very few knew about it. So Olaf decided to use his pay as investments and speculate.
Olaf likes the idea behind Bitcoin. He appreciates the decentralized way in which Bitcoin operates and find it better to transact in Bitcoin than using usual currency.
Today, his money has grown exorbitantly because of the unchained success of Bitcoin as a currency. While more people are beginning to show interest in Cryptocurrencies, reading success stories like these make us imagine how much we could have earned only if we had invested early.
But while Bitcoin has become extremely valuable and you require a considerable sum of money to invest in it now, there are other Cryptocurrencies that have emerged as winners as well. Ethereum for example has done extremely well. We get most of our Altcoin info from Crypto Coin Judge, you will find accurate and insightful details about Altcoins, brokers and relevant news about new coins.
Eddy Zillan’s Success in Investing in Bitcoin
At 16, most other teenage boys focus on school, girls and parties, but Eddy Zillan had other plans. In 2015, at the age of 16, Zillan invested $1,000 at a time when Bitcoin was valued at around $214. He soon realized the potential it had and invested another $5,000 which was his Bar Mitzvah money. It turned out that his investment paid extremely well and Bitcoin grew in value.
He was motivated to invest further so he took another $6,000 and converted it into Bitcoin currency. What started as an early investment grew into huge success. He capitalized on his success by establishing his own Cryptocurrency consulting business.
While volatility continues to be a concern for many investors, people like Zillan have proved that Bitcoin has a lot of potential and can turn small investments into huge successes. He also has a lot of interest in Ethereum that is beginning to show similar success.
Dee Heath – From Pole Dancing to Cryptocurrency Consultation
Dee Heath invested in Bitcoin relatively late. But her success is worth mentioning too. She started investing in Bitcoin early in 2017. Before investing in Cryptocurrency, Heath was a pole dancing instructor in Western Sydney. Since her success with Bitcoin, Heath’s passion has shifted to speculating and investing in Bitcoins. While she continues to run her pole-dancing fitness business, she is considering quitting and becoming a full-time investor.
She also runs a website which explains Cryptocurrency investments to new investors. With considerable success in her investments, Heath knows the potential of Bitcoin which is why she encourages people to understand the idea behind it before they proceed with the investments.
Michael Sloggett Realizes His Dream of Building a New Home
Owner of a supplements store named “Second to None” in Townsville in Australia, Michael Sloggett started using digital currencies to pay for the supplements that he acquired from international companies. He noticed the potential so he began investing in January, 2017 in Bitcoin.
His investment started with $900 and it eventually increased to $6,000 by October 2017. Sloggett was able to pay off his mortgage and using the profits from his investment, he purchased land in Townsville where he is building a new home.
Sloggett started a Facebook page by the name of Crypto Calls. He now owns five stores in Australia and plans of growing his business through investments in Cryptocurrencies. A considerable amount of his wealth exists in the form of digital currency, and Sloggett feels no need to worry about the future of Altcoins.
Jered Kenna Made It to the Bitcoin Millionaire’s Club
Jered Kenna was one of the earliest adopters of Bitcoin. He started so early that he remembers seeing as few as four computers connected to the Bitcoin network. So when his early investments helped him earn a huge amount of money. But Kenna wasn’t as successful as other people in this article.
He ended up losing a significant amount of Bitcoins when hackers hacked into his mobile and email address and were able to get inside his wallet. While he did not disclose the number of Bitcoins that were stolen by the hackers, he did mention that he lost millions in dollar value.
Kenna had also lost 800 Bitcoins when his computer was erased in 2010. With his investments being way more than 800 Bitcoins, Kenna did not worry a lot about the loss at that time. But the hacking has caused him a lot of distress over the money he lost. Since Bitcoin does not allow a reversal of transactions, there is no way that he can get back the money he lost to the hackers.
Jered Kenna is a businessman who uses Bitcoins for most transactions and encourages the use of Bitcoins in his business as well. While he lost a lot, he was still able to enjoy a lot of profits which helped him grow his business.
Inspired by these investors? While some started off early, some started as late as 2017. Those who recognized the potential of digital currency have been able to reap its benefits. But early adopters have enjoyed the best returns. You can be an early adopter of one of the digital currencies that is yet to hit the market by investing Initial Coin Offerings (ICOs).
Since it is important to do a lot of research before investing in an ICO, you can go to our friends at ICO Token News for all ICO related news and info. Check it out before you begin investing in digital currencies.