Everyone has heard tales of how Bitcoin and other cryptocurrencies have allowed the wealthy to become even wealthier. Some crypto millionaires have even become billionaires because of these digital assets. However, although they are less frequent, instances of average people making large sums of money arise. And as proof, here are five common people who become billionaires due to clever investments in the digital asset market. 

5 Common People Becoming Crypto Millionaires

1. Contessoto Glauber

The rags-to-riches tale of crypto millionaire Glauber Contessoto, often known as the “SlumDoge Millionaire,” is the kind that attracts people to cryptocurrencies. The contest is from a lowly family. He asserted in a CNBC interview that his family had immigrated to the US from Brazil and that he was “very impoverished.” Contessoto had worked at a music company and briefly dabbled in stocks before he became a millionaire.

Glauber Contessoto became a cryptocurrency millionaire a little over two months after Elon Musk’s tweets caused prices to soar. In 2021, Contessoto learned about Doge and decided to support the meme currency. But because he didn’t have any extra cash, he sold practically all of his stocks and even took out a margin loan from the Robinhood app to buy his Dogecoin.

2. Erik Finman

Erik Finman, 11 years old in 2010, detested attending school. He once went to a concert with his older brother. rally in Washington DC when he noticed a man wearing a Bitcoin t-shirt, despite his teacher’s belief that he would never “up to anything more in life.” It’s going to end Wall Street; his brother responded when he asked him what that was.

We know how rapidly Bitcoin has increased over the past ten years, making Finman a cryptocurrency millionaire. Inspired, he invested the entire $1,000 his grandmother had left him in 2011, when the price of bitcoin was approximately $10, in the cryptocurrency. He sold $100,000 worth of bitcoin at age 15, founded the teaching platform Botangle (motivated by his poor educational experience), then sold it for $300 worth of bitcoin a few years later, increasing his bitcoin holdings.

I was a kid from Idaho then:

At 15 – Dropped out & Moved to SF
At 17 – Sold my Startup
At 18 – Became youngest Bitcoin Millionaire
At 19 – Built a working Dr. Octopus Suit
At 20 – We launched a Satellite
At 21 – We built a multi-million dollar crypto company

Keep watching.

— ERIK FINMAN (@erikfinman) April 2, 2020

3. Rachel Siegel

In the cryptosphere today, Rachel Siegel is a well-known figure. She is the founder of Crypto. Finally, a platform that promotes the widespread use of blockchain technology and a billionaire in the world of Bitcoin. But things haven’t always been this fantastic.

She was only a substitute teacher in 2017, living in a dismal New York apartment “paycheque to paycheque.” But once she went to a Bitcoin conference after-party, her life was forever altered. The remainder of Siegel’s weekly paycheck, about $25, would then be invested in cryptocurrency. Her holdings increased in value over time, reaching a low seven-figure level in February 2022.

4. Kane Ellis

Kane Ellis has amassed a million dollars in Bitcoin and has a Maserati. His wealth, meanwhile, was unrelated to investing. Instead, he chose the backdoor and turned to mine to make money. Ellis, a high school dropout who was 18, discovered mining through his IT job in 2011. His computer continued mining Bitcoin while he was away at work.

At first, he only made about 4 BTC each day, which was about $8 in those days. This was a respectable passive income, but because Ellis foresaw how profitable it might become in the future, everything worked out just right for him. With the money he made from Bitcoin, he founded CarSwap, a popular global website for trading, selling, and purchasing cars. Additionally, his Maserati has the license plate “BANKRPT” on it.

Also Read: Top 6 Crypto Success Stories To Know The Crypto Millionaires

5. Tommy and James (surnames changed for privacy): 

A story about two brothers from Westchester, New York, who went from being almost unemployed to millionaires overnight was featured on CNN Business last year. Both were interested in wedding photography and cinematography, but because of COVID-19 lockdowns, work was scarce.

Then, in February 2021, Tommy and James heard from a friend about Shiba Inu, a coin that might eventually be profitable. They bet on the meme, reasoning that it was “a lottery ticket that wouldn’t expire.” The brothers initially scraped together $200 and purchased a tonne of SHIB, which was just worth pennies at the time. Their investment had increased 300 percent after a few weeks. Motivated by this expansion, they persuaded their mother and sister to join them in investing, and two months later, they awoke billionaires.

While reading these stories can make you want to acquire some cryptocurrency immediately, it’s crucial to remember that things don’t always work out as expected. On the other hand, people can lose all their savings in a single day while investing in cryptocurrencies or any other type of investment. To avoid losing money, just invest what you can afford to lose before you try your hand at cryptocurrency.