The Biggest Crypto Scam You’ve Been Told

You’ve probably heard it all before: Wake up at 4 AM, take a cold shower, meditate for 20 minutes, and voilà — you’re on your way to becoming a millionaire. I used to believe it too, that somehow these so-called “millionaire habits” were the secret sauce to wealth. It’s easy to get sucked into this mindset, especially when you see countless articles, books, and influencers touting these routines as the golden ticket to financial freedom.

But here’s the hard truth I’ve come to realize: Wealth isn’t built on trendy habits or superficial routines. 

It’s built on a solid income, smart financial decisions, and consistency over time. 

You can wake up at 4 AM every day, but if your income is stagnant and you’re drowning in debt, no amount of early rising is going to change that.

The Allure of Millionaire Routines

Let’s be honest, the idea of following in the footsteps of billionaires is appealing. 

Who wouldn’t want to emulate the daily habits of someone like Jeff Bezos or Elon Musk? You might think, “If I do what they do, I’ll get what they have.” 

But here’s the kicker — most of these routines are just fluff when taken out of context. Bezos might read the newspaper every morning and get eight hours of sleep, but those habits didn’t make him the richest man in the world. 

His wealth was built from a revolutionary business idea, relentless execution, and smart financial strategies — things that go way beyond morning routines.

Think about it this way: If I told you that Bezos became a billionaire by sleeping eight hours a night, would you believe me? Of course not. 

Because deep down, we all know that wealth is about more than just habits — it’s about the fundamental financial decisions we make every single day.

The Real Equation for Building Wealth

So, what’s the real secret to building wealth? It’s not waking up early, it’s not cold showers, and it’s definitely not some mystical millionaire routine. 

The truth is much simpler, yet harder to embrace because it requires real work and discipline. Here’s the equation that actually works:

1. Increase the Gap Between Your Income and Expenses: This is the foundation of wealth-building. If you’re making £3,000 a month and spending £2,900, there’s no room for growth. But if you can increase your income while keeping your expenses relatively low, that gap is where the magic happens. For instance, when I first started, I focused heavily on increasing my income streams while living well below my means. The result? I had more money to invest and grow my wealth.

2. Reduce Your Consumer Debts: High-interest debt is a wealth killer. Period. When I was younger, I made the mistake of accumulating credit card debt, thinking I could out-earn it. But the interest quickly ate into my earnings. I realized that paying down that debt was one of the smartest financial moves I could make. Once my debts were under control, I had more freedom to invest and take calculated risks in the market.

3. Aggressively Invest the Difference: This is where most people fall short — they don’t invest enough, or they invest too cautiously. I remember when I first started in crypto, I was hesitant to invest significant amounts. But as I learned more, I began to see the power of aggressive investing. Whether it’s in crypto, stocks, real estate, or your own business, the key is to put your money to work. For example, during the last bull run, I allocated a significant portion of my income to crypto investments, which paid off handsomely. But this only happened because I had the capital ready to invest.

4. Let Compound Interest Do Its Thing: The beauty of compound interest is that it works quietly in the background, growing your wealth over time. But it requires patience. I’ve seen people get frustrated with the slow progress in the early years, but those who stick with it see exponential growth later on. It’s like planting a tree — it takes time for the roots to establish, but once they do, the growth is unstoppable.

Why Income Is the Starting Point

Here’s a reality check: If your income isn’t solid, none of the above matters. You can’t save, invest, or build wealth without first increasing your income. 

This is where I see so many entrepreneurs, especially in the crypto space, get it wrong. They focus on cutting expenses and being frugal, but they haven’t yet built a solid foundation of income. 

It’s like trying to build a skyscraper on a shaky foundation — it’s just not going to stand.

Take my own journey, for example. When I first started out, I was so focused on saving every penny that I neglected the most important aspect: increasing my income. 

It wasn’t until I shifted my focus to building multiple income streams — through my business, investments, and side hustles — that I started seeing real progress. It’s not glamorous, and it takes time, but it’s the reality of wealth-building.

Frugality vs. Income: The Uncomfortable Truth

You’ve probably heard it said that frugality is the key to wealth. While there’s some truth to that, it’s only half the equation. 

Yes, living below your means is important, but it’s not the path to wealth if your income is low. 

Frugality helps those with a solid income build wealth; for those with a low income, it just helps them scrape by.

Let me give you an example. I have a friend who was obsessed with frugality — he cut every expense imaginable, from his morning coffee to his gym membership. 

But he was only making £2,000 a month, and no amount of penny-pinching was going to make him rich. It wasn’t until he focused on increasing his income — by taking on freelance work and investing in his skills — that he started seeing real progress. 

Now, he’s earning significantly more and has the freedom to invest and grow his wealth.

The Habits That Actually Matter

Once your income is comfortably above your cost of living, that’s when habits start to matter. But not the habits you see in “millionaire morning routine” articles. I’m talking about the basics of personal finance:

• Tracking Your Spending: I can’t stress this enough. Knowing where your money is going is the first step to controlling it. When I first started tracking my expenses, I was shocked at how much I was wasting on non-essentials. Cutting those out freed up more money for investing.

• Creating a Budget You’ll Stick To: Budgeting isn’t about restriction; it’s about freedom. By having a clear budget, I know exactly how much I can invest each month, without stress. It also helps me avoid lifestyle inflation — the silent wealth killer.

• Building an Emergency Fund: Life happens. An emergency fund is your safety net, allowing you to take calculated risks without worrying about what will happen if things go south.

• Paying Off Debt: This is a no-brainer. High-interest debt is like walking with a weight around your ankles. Paying it off frees you to run faster towards your financial goals.

• Investing in Crypto: This is where it gets exciting. As an entrepreneur and crypto investor, I know the potential for insane returns. But I also know the risks. That’s why I follow a proven strategy, focusing on long-term gains rather than short-term speculation. For example, during the last bull market, I made strategic investments in projects I believed had long-term potential. I didn’t chase every new coin or hype project — I focused on the fundamentals and it paid off.

• Automating Your Finances: I love automation because it takes the emotion out of investing. Each month, a portion of my income automatically goes into my investment accounts. This way, I’m consistently investing, even when the market is down or I’m feeling uncertain.

• Being Patient: Patience is a virtue, especially in investing. I’ve seen too many people get burned because they lacked patience — they sold their investments too early or jumped ship when things got tough. But those who stay the course and trust in the process are the ones who ultimately succeed.

• Having Good Credit: Good credit is often overlooked, but it’s crucial. It affects everything from your ability to get loans to the interest rates you pay. I’ve made it a point to maintain excellent credit, which has saved me thousands over the years.

My Preferred Investments

As an entrepreneur, my focus is on creating active income streams first. This could be through starting your own business, freelancing, or any side hustle that allows you to control your income. Once you have a strong income, then you can start investing aggressively.

For me, crypto has been a game-changer. But I didn’t dive in blindly. I spent months, even years, learning about the market, understanding the risks, and developing a strategy that works. 

And that’s what I’m sharing with you. My approach is not about luck or following hype — it’s about making informed decisions and staying the course.

Avoiding the Trap of Exit Liquidity

Let’s talk about one of the biggest risks in the crypto space: becoming exit liquidity. 

This happens when influencers pump up a coin or project, driving up the price, only to sell off their holdings at the peak, leaving their followers holding the bag. It’s a dirty game, but it happens all the time.

To avoid this, I make it a point to follow only those who provide balanced, realistic insights. 

If someone is constantly hyping projects without discussing the risks or potential pullbacks, that’s a red flag. I’ve seen too many people fall for the “up only” mentality, only to lose their hard-earned money. That’s not what I’m about, and that’s not what I want for you.

In Conclusion: Focus on the Fundamentals

At the end of the day, wealth-building isn’t about flashy routines or gimmicks. It’s about focusing on the fundamentals — building a solid income, making smart financial decisions, and being patient as your investments grow. 

It’s not easy, and it’s definitely not glamorous, but it works. And that’s what I want for you — to see real, sustainable growth in your wealth.

If you’re serious about building wealth, especially in the crypto space, I encourage you to follow a proven strategy, stay disciplined, and avoid the hype. The road to financial freedom isn’t paved with shortcuts — it’s built on solid foundations. And I’m here to help you lay those foundations, one step at a time.

Your next step

Stay tuned to my next issue, where I will continue to give my insights on crypto + entrepreneurship to financial freedom!

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