A 28-year-old cryptocurrency entrepreneur from the UK has managed to turn £1,000 (around $1,500) into over £1 million in just 18 months of trading. Josh Riddett, of Bury, Greater Manchester, has found success manufacturing specialist digital currency mining hardware.
Riddett’s company, Easy Crypto Hunter, has expanded from the sale of a single unit, with profits reinvested, into the UK’s largest GPU mining rig manufacturer. The firm also gives educational sessions on the cryptocurrency space, as well as providing accountancy services for investors and traders.
Cryptocurrency Startups Still Proving Profitable, Despite Market Dip
Even though those investing in digital assets have had a pretty rough 2018, that is not to say that all those involved in the cryptocurrency space have lost money through the ongoing bear market. One entrepreneur from Bury, UK, has managed to turn just £1,000 of savings into a seven-figure crypto company in only 18 months.
Josh Riddett started Easy Crypto Hunter in late 2017. He had just graduated from Lancaster University where he studied business entrepreneurship management. Evidently, his choice of course was a strong one since he has managed to make a roaring success of his first venture into the world of business – even despite the surrounding market conditions.
Riddett’s firm specialises in putting together GPU mining rigs, which are designed to secure the networks of various altcoins such as Ethereum, Monero, and Dogecoin. From its humble beginnings, Easy Crypto Hunter today boasts has more than 100 customers. These include business owners, property companies, and retirees. Those buying units hope to earn a side income by using GPU mining rigs to validate transactions on the network they work upon.
Riddett spoke to local news publication Prolific North about his company and the future of cryptocurrency:
“We are absolutely delighted to see the business take off and I strongly believe cryptocurrency is here to stay and is set to become more popular and more mainstream as the likes of BMW, Microsoft and Expedia accept it as a form of payment.”
The entrepreneur went on to state that he was confident that cryptocurrency is already causing massive disruption to the payments and banking industry. In his own words: “Cryptocurrency is the future.”
Riddett’s success was celebrated last month at a local awards presentation. At the Made in Bury Business Awards 2018 event, Easy Crypto Hunter scooped the prize for Technology Business of the Year.
Easy Crypto Hunter Planning Expansion As Others Downsize
The bear market of 2018 has already seen many digital asset startups laying off members of staff. Blockchain-based social network Steemit recently announced that they would be getting rid of as much as 70% of its workforce. Meanwhile, Ethereum’s chat platform Status will be losing 25% of its staff.
Bucking this trend is Riddett’s Easy Crypto Hunter. The Bury-based entrepreneur has stated that he is looking to take on more workers to help it keep up with growing demand for GPU mining units.
Related Reading: Bitcoin Can’t Fall To $0 Nor Enter A “Death Spiral” — Mining Rules Deem It So
Featured Image from Shutterstock.