Author: DUO NINE
Translated by: Tim, PANews
Wealth comes in various forms, yet always carries a common thread.
Time.
If you manage it carefully, it will continuously grow and generate compound interest. In the crypto space, it's also crucial to protect it from losses, which I'll mention later.
The following 10 pieces of advice are entirely based on my personal experience. Absolutely authentic, with no fluff.
1. Invest in hard assets early
When I first bought gold, it was around $1,600. Now the price has more than doubled. When I first bought Bitcoin, it was about $700. Now the price has exceeded $100,000. These are hard assets: they cannot be diluted or arbitrarily increased. They possess scarcity, high market demand, and are difficult to replicate.
Working or earning a salary can never create wealth like investing in hard assets. Gold and Bitcoin both fall under the category of hard assets. Regardless, start investing your spare money in hard assets.
This also includes buying index funds like S&P 500 or real estate in gold-standard locations with consistently high demand. Then let time do its work. After 5, 10, or 20 years, you'll be surprised!
If you never invest in hard assets, it's almost impossible to become wealthy and accumulate wealth. From a perspective of several decades, even investing $1,000 today can bring about massive changes. Don't procrastinate, make a plan and take action early.
[The translation continues in the same manner for the entire text, maintaining the specified translations for special terms like 'Altcoin' for '山寨币', etc.]To accumulate and preserve wealth, hold onto hard assets tightly and never sell them.
10. If you achieve success, be prepared to be targeted
All success attracts malicious actors, both in the crypto space and in any other field. Last year, I was hacked after downloading malware, losing $50,000, with my hot wallet assets instantly wiped out, and I even fell for such a simple scam.
I should have seen this coming, but before the RAT Escape incident, I never kept large amounts in my hot wallet. Once the token price surges, hackers swarm in. This is why, as soon as you have a slight public exposure, you become a target.
(Note: The author had created RAT Escape as an experiment in November 2024, and within three weeks, the token's market value soared to $16 million.)
Worse yet, even if you're not a public figure, you'll be targeted because platforms like Ledger and Coinbase have experienced customer data breaches. Just yesterday, one of our members was socially engineered by a scammer posing as a Ledger support representative, who tried to obtain his seed phrase to "protect" the account.
They knew his name, email, phone number, and address, which was enough to create a convincing identity. The moment the seed phrase was extracted, his crypto wallet was completely emptied. Remember: never disclose your seed phrase, not even to law enforcement.
Once you become successful, vultures will swarm in. You need to protect your wealth at all costs, and never show off, as that will only make you a bigger target.
