Cryptocurrency helped a 23-year-old Australian in purchasing his dream apartment that was worth $314000. he started to invest in the crypto market in 2017. And Started his investment in Bitcoin, Ethereum, as well as invested in the traditional currency stock market.
A 23-year-old, named Loi Nguyen, a native of Queensland, Australia. He began his journey of investing in crypto and the stock market previously in 2017. He invested a few hundred dollars in bitcoin, Ethereum, and the traditional stock market.
Loi Nguyen’s investment in Bitcoin and Ethereum was his long-term investment to beat the peak prices of real-world property amid the 2020 bull run.
However, a 23-year-old Australian investor’s interest in crypto investment accelerated while he was pursuing his economics degree.
He expressed while talking to new.com.au that. The traditional banks were offering him cheap interest rates ( lower than 0.5%). And by relying on these cheap interest rates he would never be able to enter into real estate.
But by pursuing the dollar-cost averaging (DCA) investment plan, Nguyen carried on expanding his investment in digital currencies. Such as Bitcoin (BTC), and Ethereum (ETH). Despite the brief declined market of 2018.
After the downfall of the traditional stock market due to the covid-19 outbreak. His crypto investment elevated the worth of his stock portfolio.
This was the time when he diverted towards the crypto investments more. Finally hoarding 1 Bitcoin for over various months.
Learn Here How Cryptocurrency Helped Him In purchasing His Dream Apartment.
At the time duration between November and December in 2021. He withdrew his digital assets When bitcoin was at its peak of nearly $69,000.
Altogether he sold out less than half of his digital asset portfolio leaving him around $31,400 dollars equivalent to $43000 Australian currency. That he presented to the bank as a portion of his down payment for his new apartment.
Loi Nguyen wanted to buy his dream apartment in Brisbane. That valued nearly $314000 ($430,000 Australian currency) and needed $62,735 ($86,000 Australian currency) for the down payment. And cryptocurrency helped Nguyen in fulfilling half the amount of the down payment of his new apartment.
“Crypto came back into my life when I did a course at the university on inflation. I learned that Bitcoin can be disinflationary.”
“I recognize I took on a lot of risks. I wanted to protect my purchasing power, protect my current savings, and make sure my money didn’t dwindle away.”
However, before this, an Indonesian student becomes a millionaire by selling his selfies as NFTs.
Final Thoughts:
Cryptocurrency helped a 23-year-old Australian to purchase his dream apartment. As his investment in Bitcoin and Ethereum that he started in 2017, increased with time and reached its highest value at the end of 2021.
At this peak value time of cryptocurrency. he cashed out and fulfilled half of the amount of down payment from cryptocurrency help.
After the declined traditional stock market at the start of the covid-19 outbreak, Nguyen’s investment increased the worth of his stock portfolio.
And that time his complete focus was diverted on investment in Bitcoin and Ethereum. That proved to be the best decision for Nguyen.
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Disclaimer: We are not experts or financial advisors. Kindly, take your decisions at your own risk. As crypto investment contains risk. And our aim is to keep you aware of the current cryptocurrencies
