Divine Fish: What You Need to Do at Each Stage from $1,000 to $100 Million

Original author: Shen Yu, Co-founder and CEO of Cobo

How to turn $1,000 into $100 million in the blockchain industry

Under $100,000: Learn more, take action

Participate in airdrops of core DeFi projects;

Get whitelisted for minting popular NFT projects;

This stage requires spending a lot of time gathering information, analyzing and researching potential projects, and having strong execution skills to persistently take advantage of opportunities.

$100,000 - $1 million

Do not leverage trading cryptocurrencies, do not play contracts;

On new public chains and L2s, find potential projects according to the time machine principle, acquire tokens at low prices;

Find your tenfold coin.

$1 million - $10 million

Choose your base currency, BTC or ETH, and study deeply;

Trade appropriately, do not short, do not short, do not short!

Flexibly use low-leverage DeFi lending protocols to improve capital efficiency, and platforms like dydx can be used to trade while earning token rewards.

Observe more, arbitrage more, stick to your base currency, and pursue growth in your base currency;

Do not be greedy to participate in every hot topic, earn every penny, and obtain stable cash flow through arbitrage and staking;

Maintain a stable mindset, remain calm, whether wealth levels can break through is left to time and industry development.

$10 million - $100 million

Once assets exceed a small target, improve your family's life, read more, exercise more, and change your personal cognition and social circle;

Hold core assets without stepping into big pitfalls, pursue low-risk stable appreciation and good cash flow;

Do not play contracts, do not start a business, and be careful to avoid pitfalls;

Maintain a certain amount of base currency assets to avoid missing out;

Maintain a certain amount of stablecoin assets to obtain stable cash flow. This also helps to deal with unexpected situations in life, allowing you to have funds to buy the dip during market crashes;

Invest 10-15% of your assets in sectors you are optimistic about, keeping yourself engaged while also preventing impulsive actions.