How to Turn $10k into $100k in Crypto: 11 Pragmatic Ways

How to Turn $10k into $100k in Crypto

If you’re looking to learn the best ways and strategies on how to turn $10k into $100k in crypto, you’re not alone. 

And this article serves you right. 

The good news is; it’s possible to build an account of $10,000 dollars into $100k while trading the crypto market. 

It’s a lot of work, intelligence, and carefulness to make this happen. Plus, these are just strategies to make this work. 

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Most of the time, they’re effective. Other times, you might not be so lucky. 

But still, these strategies are effective. 

And you should stick to them. Here are 11 ways to turn $10k into $100k in crypto. 

How to Turn $10k into $100k in Crypto: 11 Pragmatic Ways. 

1. Learning every crypto terminology.

As a trader looking to make 10× what’s in the trading account, you need to get conversant with the trading terminologies. 

First of all, learn how crypto works and then understand the meaning of some of the most basic terminologies. 

Then, you can reach out to learn more and eventually get to know all the terminologies in the crypto world. 

It’s doable, and it takes time. 

This is necessary to ease your pace of learning about other things; strategies, indicators, and trends. 

Understanding the terminologies in the crypto world will make it easy for you to learn more and more about the rudiments of trading cryptocurrencies. 

2. Buy a trading course. 

I’m not really a fan of buying courses because I feel you can learn much of what you need to know online for free without having to pay a cent. 

But if you want to learn how to turn $10k into $100k in crypto, then you’ll need to be organized as you learn. 

And one way to access an organized learning environment is to buy a course. 

Not just any course, but a good course that’s worth buying with a lot of positive reviews. 

With a single google search, you’ll be able to find a ton of these courses. 

If you’ve got $10k to trade, it wouldn’t hurt to spend a couple hundred dollars on materials that will facilitate your trading process. 

3. Master the indicators. 

Indicators are only indicators, but you need to understand how they work. 

Plus, you’ll need to have your own magic mix of indicator configurations that’ll put you in the right direction as to whether prices will appreciate or depreciate. 

Some of the top indicators you might want to learn about include:

  • Bollinger bands
  • RSI
  • MACD
  • EMA (Exponential Moving Average)
  • WMA (Weighted Moving Average)
  • SMMA (Smoothed Moving Average)
  • SMA (Simple Moving Average)
  • Super trend 
  • Donchian Channels 

These are some of the most reliable indicators you’ll find on most crypto exchanges. 

You can’t trade with just one of them. 

Hence, you’ll need to know how to use three to four of them simultaneously just to confirm a crypto market trend

4. Master technical analysis. 

Technical analysis is a more complicated form of analyzing market trends and it also involves throwing indicators all over the screen to confirm a market trend before opening a position. 

Much more than just making use of indicators, understanding basic concepts like support and resistance, trend lines, and breakouts is also relevant to actualize technical analysis. 

You look into price action, draw lines of support and resistance, find candlestick patterns that suggest a particular kind of move, and check through multiple timeframes to understand the true behavior & direction of the market. 

5. Understand the basis of fundamental analysis. 

Every crypto asset has an underlying company or a company that regulates and controls them. 

So, the activities of these companies determine the price movements of the crypto assets they control or influence. 

Fundamental analysis is keeping tabs of the background information pertaining to the controlling or originating company. 

If you’re able to know where the company’s headed, then you’ll definitely tell where the market price trend will move towards. 

Knowing the best ways to carry out fundamental analysis is critical to turning a $10k account into $100k. 

6. Capitalize on risk management. 

With every single online market, there are risks and you must find the best ways to curb them. 

You don’t want to make a total of $88k after three months of trading successfully only to lose $60k or $70k in a single trade just because you didn’t pay attention to risk management. 

In every (or most) of the crypto trading exchanges on the internet, you’ll find that they have their measures to control risk in trading. 

And every trader must get familiar with risk management best practices

7. Compound your profits. 

The concept of compounding trading profits is to reinvest your profits back into trading to make even more money. 

The more profit you make, you can reinvest or trade again using your profits just so that you’re making more money with every trade. 

For example if you open a trade with $2,000 dollars and you get a profit of $500 dollars. 

You can reopen another trade with $2,500 dollars to get even more money if things play out as you’ve imagined (with your trades). 

By compounding the profits you make, you’re able to make more money because you’ll be trading with a higher margin time after time. 

8. Have a withdrawal policy. 

It’s a trading account and you’re looking to raise it from $10k to $100k trading crypto. 

Then, you must have a policy for withdrawals. 

While it’s all your funds, you can get careless and take out money when you want to or feel like. 

Have a policy to not take money out of the account because that’s one of the ways it can go from $10k to $9,500 and then to $8k. 

It keeps getting less and less, and the most interesting thing is you’ll have hopes to refill it when you make your next trade. It doesn’t work that way. 

You’ll need to be accountable here if you really want to make 10× your trading capital; taking it from $10k all the way up to $100,000 dollars. 

While it’s a lot of work and there’s a lot of learning, you’ve got to be thrifty. 

9. Avoid the FOMO

FOMO is short for “Fear Of Missing Out”. 

Indeed, you want to make sure you’re not running and dashing into different trades just because you want a cut from the cake. 

Truth is, the markets will always be there for you. 

And if you miss a particular trade, there are tons of other trades to make money from. 

Every single day, the crypto market moves profitably enough for any good trade to make profit.

There’s barely a ranging movement for a whole day, and even if there is, you can still scalp the markets within 5, 10, 15 minutes to make gains. 

There’s no rush. 

Relax, take a deep breath and carefully view the markets from a stance of relaxation and peace. 

With the fear of missing out, you can rush into opening positions in drastic markets consolidating to make some terrible movements that could lay waste to your account. 

10. Stick to a strategy. 

You’re looking for the best ways to turn $10k into $100k in crypto, and so you can afford to keep trying out different strategies on the demo account. 

Not a live account. 

As a trader looking to make profit in the markets, you’ve gotta have a working strategy. 

Okay, maybe not just one strategy, but a mix of strategies that you can call your “strategy“. 

And while there’s a boatload of strategies out there for you to try or test out, always remember to do this on a demo account. 

You can’t afford to lose a dime. 

You’re on a racetrack to $100k dollars from an account of $10k dollars. 

Exercise caution sporadically. 

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11. Strive to trade better; make the same mistake once. 

If you keep making the same mistake over and over again, then you’re never going to be a better trader and instead of turning $10k into $100k in crypto, you might end up losing the $10k. 

Make a mistake and never have to make the same mistake again. 

More than 80% of the time, people make the same trading mistake due to some emotional vulnerability. 

Maybe they become too anxious or scared to win or lose. 

For whatever reason, if you’re making a mistake and somehow you come out of it by not liquidating your account, learn to never have to be in that situation again where you’re at the mercy of the market. 

Sit back, strategize, relaunch. 

How to Turn $10k into $100k in Crypto: 11 Pragmatic Ways – Final Words. 

In summary, some of the most pragmatic approaches to turn $10k into $100k in the crypto world include learning crypto terms, sticking to a trading strategy, and learning from every trade mistake.

The steps to turn $10k into $100k in crypto also include prioritizing risk management, understanding the basics of fundamental analysis, buying a course to learn hidden trade secrets and hardcore strategies to cherry pick, compounding your profits, understanding indicators, and mastering technical analysis. 

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