How To Get Rich by Investing Wisely in Crypto, According to Brian Jung

If you’re looking to make money in the crypto market, you may want to hear what Brian Jung has to say. Jung, a popular YouTuber with over 2 million subscribers, recently posted a video where he discussed his plans to make millions in the crypto space.

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In the video, he recounted how he once turned $120,000 into $2.5 million from a crypto investment, so his advice may be worth listening to Here are some of his thoughts on how to get rich by investing wisely in crypto.

Invest In Altcoins

Jung discussed the altcoin season cycle, which investors can profit from if they know where to look. An altcoin refers to any crypto that isn’t bitcoin — which means there are a lot of them. With so many altcoin options, how do you know which ones to invest in to make a profit?

Jung said he believes at least 90% of altcoins will not make it in the future. Additionally, Forbes noted that many altcoins are often riskier than bitcoin. So finding the right investment at the right time is key to making money. He explained that when the altcoin market starts to heat up, “layer one” picks like Solana and Hype could be good, safer options.

Meme coins are riskier, but Jung said they could offer outsize returns He also mentioned the “Coinbase listing effect,” where a meme coin’s price seems to spike as soon as it is listed on Coinbase. He said if you can find a token before it lists on the exchange, you may be looking at a profitable opportunity.

Whatever coins you choose to invest in, his overarching advice is to invest in coins that have a dedicated team that continues to build in the space, as it is the people behind the coin that you are essentially investing in.

Learn More: Coinbase Fees: Full Breakdown of How To Minimize Costs

Balanced Portfolio

Jung also briefly touched on some advice regarding crypto portfolios. As with any investment, it is wise to diversify to an extent so you don’t put all your eggs in one basket. According to U.S. News, having a diversified crypto portfolio can help your portfolio be more resilient, reduce risk and help you stress less.

However, Jung warned of the risk of over-diversifying Instead of buying hundreds of different altcoins, he suggested focusing on a handful of strong ones and doubling down on them. Investors should research ecosystems and have an idea of what they are launching to improve the probability of finding a coin that may ultimately succeed in the future.

Story Continues## Have the Right Mindset

Finally, Jung offered some words of wisdom in his video, urging listeners to keep the right mindset when investing and trading in the crypto market.

Enjoy your wins, he said, and there is a time for everything, so even if you are down one day, there is always another trade to find.

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This article originally appeared on GOBankingRates.com: How To Get Rich by Investing Wisely in Crypto, According to Brian Jung

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