Cryptocurrencies have taken the world by storm over the last year or so. Some people have made buckets of money, others have lost everything. Cryptos have been responsible for creating a new breed of a millionaire.

There is clearly the opportunity to make a lot of money. We can just have a look at the infographic provided by BitFortune.net to see exactly the kinds of amounts we are dealing with.

As you can see, it isn’t chump change that we are talking about here. But, what sets these men apart from everyone else? How did they make a fortune in a field that not many people are familiar with?

The one common thread that links all of them is that they had a vision. It takes ingenuity, guts, and no small amount of luck to become a crypto king but, more than that, it takes vision. You have to have an unwavering vision of what you want to accomplish and the gumption to follow through with it.

If you are trying to make your mark in the crypto sphere, you can expect your vision to be sorely tested, time and time again. Opinions in this field vacillate tremendously and it is only those who are steadfast in their resolve that actually makes an impact.

Take Vitalik Buterin, for example. He saw Bitcoin and thought, “There must be a better way.” The end result, Ethereum, has since become one of the top cryptos globally. Coin per coin, its value is a lot lower, but that is because there are more Ethers being produced than will ever be the case with Bitcoin.

But, as a network and in terms of pure functionality, Ethereum outshines Bitcoin. Even if the value of the currency itself crashed tomorrow, it would still be a useful network because of the vision of Buterin. He believed that building coding language into the blockchain would make it much more useful.

As a result, Ethereum can be used:

  • As a digital currency.
  • To create applications that can be sold directly to the end consumer. Dapps, as they are called. This reduces costs substantially for developers because they don’t have to pay a middleman to get their product out there.
  • To create smart contracts. Essentially, an If/then a piece of code is a very simple form of contract. And that is all that a smart contract is – a simple If/then a piece of code. The advantage is that it takes trust completely out of the equation. Contracts execute automatically as soon as all conditions are met.

Are there other potential applications of blockchain tech? Of course, there are, take a look at the infographic and you will see that there are quite a few. Ripple, for example, is a blockchain-based app that allows users to make multiple payments quickly and easily.

What applications can you think of? What vision of the chain do you see in your future? Dan Larimer reimagined what social networking could look like if people were paid for posting and curating content. This is how Steem-It was born.

Not too sure about the development side of things? Let us be fair here, this tech is hard to get a handle on and is only fully understood by a very small number of people. You could, however, make your money by investing in cryptos.

It can be a risky business to trade in this market, but if you are willing to do your research and invest sensibly, you could make a killing as well. Be warned, it will be a bumpy ride. If you are in any way risk-averse, this is not the investment for you.

Have you got what it takes to become crypto royalty?