A crypto trader said he traded in his $8,200 Rolex watch to buy cryptocurrency and is now worth a little more than $1.18 million – but admits the crashing market has halved his wealth.<\/p>\n
Kain Roomes, 29, first invested in Bitcoin<\/a> in March 2018 after his dad encouraged him to look into crypto.<\/p>\n Roomes, then a part-time model, was behind on his mortgage, had considerable debts and no disposable income, he said.<\/p>\n He decided to sell his $8,200 Rolex he’d received as a 22nd birthday present years earlier to fund his first investment.<\/p>\n Roomes bought different cryptocurrencies and studied the market, learning about the best times and places to invest, he said.<\/p>\n And, in 18 months, Kain had made over $100,000 just through investing alone, he said.<\/p>\n After gradually building his investments, his portfolio reached its highest value ever of over $3.3 million in May 2021.<\/p>\n A huge crash in the market in March 2022 cut his wealth by over half, but it now still stands at $1,265,366.10.<\/p>\n He’s also traveled the world, vacationing in luxury locations like Dubai, the Maldives and Jamaica.<\/p>\n Roomes, who comes from north London, England, said: “With my dad’s help, I did my research and made sure I was investing into a good coin.<\/p>\n “This led me to put 50,000 out of my first 100,000 into an Initial Coin Offering (ICO) and reinvest the profits in Zilliqa – a booming cryptocurrency.<\/p>\n “It was nerve-racking making such a big gamble but I managed to expand my portfolio twenty-fold from one investment.<\/p>\n “I suffered a lot after the crash, but I have full faith in crypto.<\/p>\n “I’ve experienced highs and lows while I’ve been trading and there has been times where I thought I wasn’t going to recover.<\/p>\n “At one point I opened my trading account and 90 percent of my portfolio had gone.<\/p>\n “My dad has always been there for me when I was going through tough times with it – he’s been a mentor throughout my whole experience with crypto.<\/p>\n “Cryptocurrency is an extremely risky game, but if you take the right precautions you can prosper.<\/p>\n “I want to inspire others to get into crypto and change their lives the way I changed mine.”<\/p>\n Now Roomes is focusing his efforts on writing his first book, detailing some of his struggles and giving advice to those looking at getting into crypto.<\/p>\n He said he wants to give hope to other people and be successful in the crypto market.<\/p>\n “I want to stay involved in crypto and earn as much as I can from it,” he said.<\/p>\n “Since that original investment I have only ever reinvested profits to get where I am today.<\/p>\n “I’ve seen so much success from it so why would I simply walk away now.<\/p>\n “I’m prudent with my spending – I don’t own a car or fancy clothes.<\/p>\n “I’ve taken profits to enjoy nice holidays with my family but that’s the extent of it – just because I’m a millionaire I don’t want to waste what I’ve earned.<\/p>\n “Since the March crash there has been other instances where I’ve suffered some considerable losses.<\/p>\n “But I’m confident the market will bounce back – like it always does.”<\/p>\n Produced in association with SWNS<\/a>.<\/em><\/p>\n This story was provided to Newsweek by Zenger News<\/a>.<\/strong><\/em><\/em><\/p>\n<\/div>\n![\"Kain](\"https:\/\/d.newsweek.com\/en\/full\/2078098\/kain-roomes-invested-bitcoin.jpg?w=790&f=959bd274d897c17c4b48d1c0bb16001e\")
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\nKain Roomes, SWNS\/Zenger<\/span>
\n<\/figcaption><\/figure>\n![\"Kain](\"https:\/\/d.newsweek.com\/en\/full\/2078101\/kain-roomes-invested-bitcoin.jpg?w=737&f=697109094c64f7e8291b9f35f07d3b4f\")
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\nKain Roomes, SWNS\/Zenger<\/span>
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