How I bought my dream house; Interview with a 23-year-old digital currency investor

A young Australian started investing in the traditional stock market and digital currencies at the same time five years ago. Since then, his portfolio in the digital currency market has not only been higher than his portfolio investment in the stock market, but he has also been able to buy the house of his dreams.

To Report Kevin Telegraph, a young man from Queensland, Australia, has been able to make a lot of money with years of bitcoin and Atrium storage. With this investment, he has even overcome inflation and rising property prices in 2020. Finally, he was able to buy the house of his dreams with his own profit.

The 23-year-old, named Loi Nguyen, first invested in Atrium, Bitcoin and shares of companies in traditional financial markets in 2017 for just a few hundred dollars. However, his entry into economics increased his interest in digital currencies.

He said:

Digital currencies came back to me when I was studying inflation in a college classroom. It was then that I realized that bitcoin was inherently anti-inflationary.

Nguyen explained that he could never enter the real estate market with the low interest rates of traditional banks (less than 0.5%). Therefore, in the midst of the downturn in 2018, it tried to diversify its portfolio by using the dollar cost averaging strategy.

Nguyen says:

I know I took a lot of risks at the time. I wanted to protect my purchasing power and my savings, and my goal was not to devalue my money.

With the outbreak of the Corona virus and the collapse of traditional financial markets, Nguyen’s digital currencies have outperformed his portfolio. At this time he decided to focus more on digital currencies instead of traditional financial markets. The young Australian was finally able to save 1 full bitcoin after a few months.

Between November and December 2021 (November to December), when the price of Bitcoin was at an all-time high of $ 69,000, Nguyen cashed in some of his digital currencies to buy the house he was looking for. The young Australian eventually sold half of his digital currency portfolio and paid part of his home down payment of $ 31,000 (A $ 43,000).

Nguyen bought a one-bedroom apartment in Brisbane with his own money. The house was priced at $ 314,000 (A $ 430,000) and a down payment of $ 62,735 (A $ 86,000). He was able to provide half of the down payment he needed using digital currencies.

After graduating from high school, Nguyen worked full-time in a bank for a year; But his salary was only $ 20,400. He says he is now making more money by investing in digital currencies.

An Australian cybersecurity firm has recently highlighted the special opportunities for digital currencies. A recent paper by the committee entitled “Discovering Digital Currencies” shows that the Australian market needs a sound regulatory framework to increase investor transparency and confidence in digital currencies.

Advising the minimum standards of cyber security, empowering investors (creating awareness through specialized training), following the advice of experts and creating transparency in the collections active in this industry are the four key factors that lead to better acceptance of digital currencies, said the Central Bank Advisor. Will be in Australia.