From Enthusiast to Expert: The Journey Of a Crypto Trader According to Ben Armstrong, if you don't invest time in this industry, you might very well end up losing your hard-earned money
By Entrepreneur Staff •
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How do you become a successful crypto trader? You don't blindly invest in Bitcoin or any cryptocurrency just for the sake of entering the industry. Instead, you take time to figure out how the market operates, when and how the currencies fluctuate, and how the other traders are trading. All this takes time. And according to Ben Armstrong, if you don't invest time in this industry, you might very well end up losing your hard-earned money.
Armstrong is the founder of the famous YouTube channel, BitBoy Crypto, which he started in 2018. It is one of the most recognized news channels that offer updated information about Bitcoin and anything related to the crypto industry. But how did it all start for Armstrong?
Early struggles in crypto trading
Armstrong discovered cryptocurrency in 2012. According to Armstrong, he always had a thing for this industry. But he was wary not to invest in it immediately. Armstrong wanted to learn how the currencies worked, the market conditions that impacted the prices and how to evaluate which coins to invest in.
After researching his own, Armstrong eventually decided to put his money into his Bitcoins's set. One thing led to another, and before he knew it, Armstrong was making decent returns from his investment.
There came the point when Armstrong felt as if he was unstoppable. However, he saw his portfolio crumble during the Mt. Gox hack. He also used Charlie Shrem's BitInstant, which is now long gone. Thankfully, Armstrong still believed in cryptocurrencies and continued investing, this time taking a more careful and strategic approach.
His experience in crypto trading has enabled Armstrong to take a different direction in the industry. He has studied so much about the market that he wants to share his knowledge with other traders, particularly those who need help navigating the complex world of cryptocurrencies.
Coping with new challenges
Armstrong isn't someone who sits idle and contemplates about what to do to make money. His motto is to become good at something, master it, and find a way to make money with it.
And he was good with cryptocurrencies. 2012 taught him that although he was a profitable trader, his passion was to help others. This gave him the motivation to learn about other aspects of the industry. Armstrong started reading about different investment strategies, the use cases of foreign coins, and how one coin's price influences another.
His passion for the crypto industry became stronger every passing day as he learned more about how different coins worked. As he says, "The crypto industry can make you a millionaire, but you must learn the tricks of the trade properly. And it takes time to learn those tricks. You need to be patient with everything, be it researching new coins or waiting for the right time to execute a trade. If you want overnight success, this isn't the right industry for you."
Armstrong started using his knowledge to help other aspiring crypto traders and investors understand the market better. Many traders don't have time to go into the details of all the cryptocurrencies. They want instant information about whether a specific currency would provide high returns or not. Armstrong started offering such information to help traders make informed decisions. Through his YouTube channel, he shares his knowledge with thousands of subscribers, enabling them to trade wisely.
Crypto news and more
Many traders now call him Armstrong "BitBoy" Armstrong because of his YouTube channel's massive success, BitBoy Crypto. Initially, Armstrong only focused on different cryptocurrencies. He would provide the latest news about which currency is doing good, which currency's price is expected to fall, and how important events like the election could impact the cryptocurrencies'. But he quickly learned that so much information might confuse his subscribers. And so, he created a separate news division for BitBoy Crypto.
BitBoy Crypto isn't just a news channel about the crypto market. Sure, it does provide traders with updated information about the industry. Still, Armstrong also discusses different strategies for trade, when to trade, and how to figure out the market conditions. Besides helping people stay on top of the latest crypto news, BitBoy Crypto also shares effective trading and investment strategies that have already helped thousands of people earn money in crypto.
What's next for Ben "BitBoy" Armstrong?
Armstrong not only invests his time making videos for his YouTube channel. You can also follow him on TikTok, where he has approximately 2.4 million followers. You can see the other side of Ben that doesn't always talk about crypto trading. On his TikTok profile, Armstrong shares various types of videos, mostly involving things that make him and his followers happy.
Armstrong wishes to continue helping traders through BitBoy Crypto. He believes that nothing comes close to the joy brought by helping others with the knowledge you have.
