You are welcome and thank you for stopping by and leaving such a nice comment. Participating in contests is never a must just like nothing is a must here. It is just a way to increase your visibility, popularity and earnings. Don't participate in contests where you feel you have to forcefully fit your content into the topic. There are many contests and curriculum going on wherein you just have to participate and share your views like the ones by @surpassinggoogle, @kalemandra and @sirknight. Do check out their profiles and you'll get what i mean.
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Thanks so much for the info! Really appreciate it. You are right on the visibility, popularity and earning part. I guess you also have more flexibility when you have a big following.