Quitting working as an office to ‘all in’ for cryptocurrencies, the woman who earns nearly 2 billion per month reveals the ‘plan’ to exist in front of risk

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2021-12-31 22:15:06

After more than 10 years as a mortgage guarantor at USAA, Brenda Gentry stepped down in October 2021. Instead of continuing to work in traditional finance, she switched to working full-time in the money sector. electronic.

Gentry told CNBC that San Antonio residents see cryptocurrency as a way of accumulating and passing on wealth across generations. She and her family are excited about the unexpected opportunities that cryptocurrency presents.

Before quitting office hours and starting to “all in” cryptocurrency, Gentry started investing in digital currency during the Covid-19 2020 blockade. Started small. , Gentry has gradually invested more.

By early 2021, she had already made a significant profit. Gentry says her portfolio has surpassed even a 401(k) retirement fund. Instead of taking 11 years to accumulate $200,000, it now takes Gentry just 6 months to do it.

Gentry admits Cryptocurrency is a risky investment, but her experience in finance and due diligence helps her feel comfortable investing in this area.

Now, Gentry is known as the online “crypto mom”. She continues to invest in crypto, but mostly runs Gentry Media Productions with her daughters Cynthia, 23, and Imani Gentry, 19.

Her firm advises on decentralized finance (DeFi) and non-fungible tokens (NFT) projects. She usually earns 10-20 Ether, or about $40,000-80,000 USD per month. With his previous job, Gentry earned $75,000 for the whole year.

For Gentry, cryptocurrency is a way to provide a better future for the family. “NFT and DeFi are breaking generational curses of poverty,” she said. “Cryptocurrency is financial freedom. Most people cannot access loans with traditional finance because of credit limits now,” she said. here can invest in cryptocurrency and can borrow from it”.

DeFi protocols often offer more attractive interest rates than traditional banks and lower barriers to borrowing. In most cases, the only requirement for a DeFi loan is the ability to provide collateral with other digital assets.

But this is also a factor that shows that DeFi is full of risks. Investors should understand the risks and take the time to research before buying.

For Gentry, cryptocurrency has changed her family’s life. Gentry was able to help his parents retire. Her next goal is to help her siblings.

Although cryptocurrencies are volatile, Gentry plans to make money by long-term asset holding. “The market is not always bullish,” she said.

Experts warn people should only invest money that they are willing to lose. But they also concur that a strategy of holding cryptocurrencies like Bitcoin is the best practice.

Gentry’s family sees cryptocurrencies as a way to build wealth for generations. They are involved in various crypto projects, including gaming and DeFi. Gentry and her family have received many messages from people interested in learning about the field. “We have to let people know that there are days when the market is going to be red,” she said.

Gentry succeeds in the field of cryptocurrency, what she achieves is not easy. When it comes to investing in cryptocurrencies, financial experts advise investors to be careful. Some cryptocurrencies can increase in value quickly, but they can also collapse quickly.

Check out CNBC

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