I invested $2,000 in cryptocurrency and two years later it’s worth over $1million – I’ve just bought my dre… – The Sun

A CRYPTOCURRENCY trader has revealed a $2,000 investment swelled to $1million, allowing him to buy his dream home.
Terrance J Leonard said his initial outlay came after a colleague explained the ins and outs of cryptocurrency to him over lunch – and within two years he's turned that investment into a life-changing sum.
The former Navy officer, who now works as a software engineer and lives in Washington D.C, admitted that at first he thought cryptocurrency markets were the “Wild West”.
But he told Newsweek: “Soon, I began to see the value of the coins I had bought going up.”
Leonard explained that in March 2020 “there were a series of days where I was refreshing the app that I use to track my investments and I was seeing the value of my coins skyrocket”.
He described it as “super exciting and stressful”, but in April this year his investments hit $1million
It was then that he was able to buy the house of his dreams by selling $50,000 of his cryptocurrency as a down payment on the $650,000 property.
In the US, it's hard to finder a seller willing to accept Bitcoin, so anyone hoping to use their crypto earnings would also have to cash out.
In the UK, most lenders won't let you use crypto as a source of a deposit and it won't count as income so you can't use it to increase the value of the home you want to buy.
He described the house as a four-bedroom, three-bathroom split colonial property in southeast Washington D.C with a garage, great back yard and plenty of room for his dog.
“Being able to get this house is huge,” he said.
“As soon as I saw it, I wanted to put an offer in. Investing in cryptocurrency has changed my life tremendously because it has helped me achieve that.
“Now, I am able to have an incredible home and the life comforts I want.”
Leonard doesn’t specify which cryptocurrencies he has invested in but “I don't invest heavily into Bitcoin” which he sees as “being what MySpace was to social media”.
“Instead I choose to invest in cryptocurrencies that I think will have real world value and that are environmentally friendly,” he said.

Recent weeks have seen stories of investors who have seen small outlays turning into big returns – as well as regrets of those who cashed in too early or lost out in scams.
BELOW we round up five risks of investing in cryptocurrencies.
A former supermarket warehouse manager named Rob has been able to retire at the age of 35, after making a risky $8,000 bet on Shiba Inu.
But another trader has been left gutted after he lost out on a $6million fortune by selling Dogecoin a day too early.
Another revealed he woke up to find he had lost nearly $500,000 on a cryptocurrency scam.
Brian Nyugen admitted he had become a victim after the developers of AnubisDAO – another dog themed cryptocurrency like Shiba Inu – allegedly made off with $60 million of investors' cash.
Shiba Inu is one of the most popular cryptos – with the price skyrocketing in value since its inception last year.
Investors are in meltdown after the cryptocurrency's founder sent a mysterious tweet to Kanye West.
Shytoshi Kusama caused a stir when he wrote: "Good choice @kanyewest."
TO avoid falling victim to investment scams, you need to remain vigilant when making investment decisions.
Signs that should set the alarm bells ringing include:
Do you have a story for The US Sun team?
Email us at [email protected] or call 212 416 4552.
Like us on Facebook at www.facebook.com/TheSunUS and follow us from our main Twitter account at @TheSunUS
'Secret stimulus check' sent as calls for new $2,000 payments EVERY MONTH grow
Lincoln Penny is the second most valuable ever with two zinc-plated planchets
November $3,600 'stimulus check' to be sent NEXT WEEK after payment deadline
Shiba Inu coin skyrockets but Bitcoin slumps as Safemoon crypto slide continues
© 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP

source