How 18-Year-Old Cryptocurrency Investor Acquired Millionaire Status
Eddy Zillan who is now 18 has been investing in cryptocurrencies for three years now and he says he has made more than a million to date in profits.
The young man who currently operates his own digital currency trading consultancy firm, Cryptocurrency Financial, refers to his initial foray into the space as an “educated guess.”
From Humble Beginnings
Zillan first heard of cryptocurrencies from the Silk Road saga on news reports and was at first skeptical of investing in the space. He also explains that in 2015 reliable resources on trading in the industry were few and far between.
Even though he had not reached the trading threshold for Coinbase which requires traders on the platform to be at least 18, he went ahead to open an account and make an initial purchase of ether worth $100.
This first deposit earned him $10 in a matter of hours and though it might not sound remarkable, it was all it took to win him over to the industry and he has not looked back since. He says,
Within the next fortnight, Zillan had invested more than $12,000, basically the entirety of his life savings, from savings he made as a tennis trainer to his bar mitzvah money and other monetary gifts he had accumulated over the years.
While his mother was fine with Zillan’s interest in virtual currencies, his dad was a lot less enthusiastic about it. He termed it a highly risky venture and cautioned against it.
The Road to Crypto Stardom
But the returns on his initial investment kept on snowballing and erased all of Zillan’s doubts. He started reading all the books he could find on the topic, studying analytical data, carrying out market research and talking to successful crypto traders in a bid to learn as much as he could.
“I completely taught myself everything about the market that was necessary and I can only attribute my success to myself. I had no mentor and learned from making mistakes and a lot of research.”
But like many other early investors in the cryptocurrency space, Zillan also acknowledges the role of favorable timing as a contributor to his massive success.
In spite of his tender age, he has invested most of the past year into broadening his knowledge of the business aspect of the space in order to offer reliable advisory services. His company mainly offers investment advice to crypto newbies as well as businesses.
Though he has been known to charge up to $250 for the service, he says that his focus is not so much on the financial reward of the venture but rather on growing the community. He explains that there is a void in the market when it comes to learning resources.
He also has a word of caution for potential investors in the space, saying,
“I would invest slowly and wouldn’t dump the entirety of my savings due to the market’s volatility.”