Kiarash Hossainpour known as “Hoss” is a known figure in the cryptocurrency industry. He is a German entrepreneur and cryptocurrency investor who gained fame by becoming a millionaire at the age of 18.
He became a millionaire mainly by investing in Bitcoins. Hossainpour was born in Berlin in 1999 to Iranian parents. Let’s get to know his journey from a tech-savvy to a crypto investor.
Early Life of Kiarash Hossainpour
Hossainpour became very interested in technology at a very young age. His father was a computer programmer who gifted Hossainpour his first computer at the young age of 10. And instead of letting him play games on the computer, his father introduced him to learn to programming. This early learning about coding played a very important role in his success later.
How did Kiarash Hossainpur become a Millionaire?
Hossainpour’s path to becoming a successful millionaire was a mixture of his passion, skills in coding, and early investing in cryptocurrency. How he made a million dollars is as follows:
Web development skills
At a very young age only, Hossainpour learned how to make websites using WordPress. Then he started offering his services to gaming companies charging somewhere around $34 per website.
Web opportunities
His web development skills bought him high-paying roles in the deep web and he was paid in Bitcoin for his services in the deep web.
Youtube
Hossainpour started his YouTube channel at the age of 16 called “Kyle Hoss”. His channel became famous quickly. His channel features content like reaction videos, and cooking and has nearly 500,00 subscribers.
Bitcoin investment
Using the money from his YouTube channel he invested $45,000 in Bitcoin when he was 18 years old. This investment decision paid off as Bitcoin rose and skyrocketed.
Cryptocurrency boom
The rise of Bitcoin’s value made Hossainpour a millionaire by turning his investment of thousands into millions as he turned 18 years old.
Hossainpour’s approach to cryptocurrency investment
Despite his age, Hossainpour approaches cryptocurrency strategically:
- He mainly invests in main cryptocurrencies. You will see most of his investments are done in Bitcoin and Ethereum which are two of the most known and top cryptocurrencies.
- He selects his cryptocurrencies very wisely. He has invested in smaller cryptocurrencies like Luna but thinks carefully about hyped coins.
- He describes his investing approach as conservative, avoiding ETFs, which is not what people expect from a young investor.
Kiarash Hossainpour’s Life as a Young Millionaire
Hossainpour’s wealth allowed him to live a lavish life:
- His wardrobe includes designer clothes from brands like Gucci and Prada.
- His first major car purchase was a Ferrari 488 Spider costing $227.000 and later he bought a Bentley Continental GT.
- Hossainpur also loved watches and owned very expensive watches.
Hossainpour’s Bankruptcy
One day, Hossainpour’s crypto wealth almost vanished overnight during the crypto market crash in the spring of 2022. He lost up to 90% of his digital portfolio and took a huge blow after Luna cryptocurrency crashed.
Luna lost 99% of its value which he promoted enthusiastically on his YouTube channel. Despite this loss, he remained hopeful about cryptocurrency viewing this loss as a “part of the game”.
However, this loss had far more consequences than what we seemed at first. As an influencer, he influenced a lot of people to invest. Even U.S. stock label Clark Howard labeled him as “an irresponsible man who caused thousands of unknowing to go bankrupt”.
Challenges and controversies of Kiarash Hossainpur
Despite Hossainpur’s success, he faced challenges and controversies:
- Crypto market volatility: The cryptocurrency market is highly volatile and this aspect affects his wealth a lot. In 2022, Hossainpour lost a huge chunk of his wealth during a market crash.
- He also faced a lot of criticism for influencing young people to make risky investments.
Conclusion
Kiarash Hossainpour’s rise to becoming a Millionaire through cryptocurrency investments is very passionate. His success was very impressive but it lasted a short amount of time.
His decisions were not wrong but they do point out that the cryptocurrency market is full of risks and anything can happen at any time. What worked for him might not work for you at all. So do your research and then invest what you can afford.
