Life itself is an adventure, we learn more in life through experience.
The emergence and adoption of cryptocurrency as a means of exchange accelerated the the rate of digital changes we have now around the whole world. Everything now is in the digital world, digital marketing, digital currency and lots more.
The advancement in our digital world makes it patinent for everyone to advance in knowledge, to have an expertise in one of the areas of this digital world, especially on the areas of digital currency and marketing. There has been so much journals, articles and write ups about crypto currencies, digital marketing (crypto currency exchange and forex), Blockchain technology etc accessible almost everywhere online.
But the major issue now become the scarcity of practical knowledge about digital currency in many countries of the world (to avoid error of generalisation), Nigeria in particular- her government is even worsening the matter through the ban on crypto currency here in Nigeria).
Back in 2019, during my days in school, I was dearly in need of money, not really money to say, but a source or regular income. That's when my research and findings lead me to my knowledge about forex trading and crypto. I was very interested about the promising features of forex trading, I picked interest in it, gathered load of write-ups online about Forex, I consumed myself in reading, downloaded as many apps as possible that was compatible with the phone I was using that time. I later started trading binary options with Olymp trade (trading platform), I lost my first deposit, on my second deposit I was scammed of my money from two guys I met on Facebook, they persuaded me to increase my deposit amount, that they will help me (do the deposit through Bitcoin, guild me through trading and help me with signal).
That was how I dumped binary options afterwards, focused on leveraged trading using trading platforms (meta4 and meta5), I opened account with Forex times ( FXTM), that was the broker I use, as a novice I never appreciated any of the knowledge I was getting from all the stuff I was reading, all of them seemed foreign to me. I once joined a zoom meeting organised by FXTM, for an analyst to teach on the use of Bollinger Band (BB) in technical analysis, I was 100miles away lost, everything sounded new and very odd.
The minimum deposit was $100 for all FXTM standard accounts, I wasn't able to raise such amount of money, comparing to my situations in school and the economic state of my country- $100 dollars is a huge some here.
I continued my search, my knowledge on Forex and it's trading took me to know about Bitcoin,
I picked interest on Bitcoin after knowing fully well that I can mine it for free, then Bitcoin was around $2000+. On Google playstore, there were many apps for cloud mining, I loaded the apps in my phone, did my registrations and started mining Bitcoin, Bitcoincash and Litecoin, join some gaming apps that reward in crypto (Bitcoin), in most of this app and website I used then, the minimum withdrawal for Bitcoin was 0.05 and above, because I didn't subscribe to increase my mining rate (because I didn't have the money and too I didn't trust the process). I was just doing this things on my own, hopefully that it may pay one day, non of my friends knew about this stuffs then, I use to be the first to bring up a trend around my circle then, especially when it involves referral, I always deviced a way to get my friends interest to join the mining on any new platform got using my referral link. That website and apps I used then include; Bitcoin roller apps, ( that you come back every 60minutes to roll), game apps that rewards in crypto, and virtual cloud mining (both websites and apps).
I mined Bitcoins with my phone till my phone internal processor started having issues, my phone started hanging and misbehaving because my data connection is always on, (just for this apps to continue running in the background), I was forced to delete some apps, the ones I left was either they have a high potential (for paying some day), or I have gone way too far to quit) give up on.
Before the ending of 2019 I lost my phone, everything I hustled for, almost all of them vanished like that, except the very coins I got from gaming apps that I sent to my Coinbase wallet. ( This time, the knowledge of cryptocurrency was way too little among the people here, Bitcoin was a thing of illusion, many that have heard about it, don't believe it, coupled with the rate they used Cryptocurrency-Bitcoin in particular and Forex to scam people here).
In 2020, during covid 19 emergence, online businesses became the order of the day, Bitcoin and Cryptocurrencies gained popularity in Nigeria.
Google removed all this cloud mining apps I used then from playstore.
The surge and the popularity of crypto currency increased due to restriction in offline businesses because of the covid 19 pandemic protocols.
I later new more about Bitcoin and Etherume, this two gained more popularity above others, (especially the Etherume smart contract that was trending then.)
I focused on learning more (especially in forex, because the tools and sites to get knowledge about it was readily available than crypto, and again I've begining to appreciate it more that that of crypto currency), the lessons and stuffs on crypto currencies and blockchain seem too complicated and confusing.
It was then I knew about other crypto wallets apart from Coinbase (luno, trust wallet etc).
All this time I was doing everything about crypto currency and FX trading on my own, (base on all I read online, images and videos on YouTube, trial and error etc), there was nobody to ask ( and I never bothered myself again due to my experience with the the scam on Facebook).
All this experience and my little knowledge about crypto and forex lead me to know their relationships and similarities.
This took me to more advancement in them, the bullish surge on Bitcoin in 2021 created room form many people who bought it in 2020 during lockdown to blow, this attracted many people into crypto.
Influencers filled everywhere, (people like Elon musk, Cz binance etc).
I got to know more about crypto currency, blockchains and exchange platforms in 2021.
Airdrops filled everywhere, I participated in many of them (but got little to nothing out of it, funny 😂 though).
My knowledge about the differences between Coins, Altcoins (alternative coins to Bitcoin) and Shitcoin (tokens- coin under major blockchains, usually with a special or other usecases), was when I lost a huge sum on Tokens.
Binance blockchain (BSC) gained more popularity over Etherume and Tron blockchain, because of many Tokens under Binance Smart Chain (Bep 20 and Bep2 tokens), the low gas fee charged during transaction. Tron blockchain too has low gas fee than Etherume.
I started following many crypto dealer and traders, gaining more interested on crypto currencies (tokens in particular), because of the chances of making one a millionaire is unpredictable (popular opinions here),
Today having more than 40 different tokens.
Screenshot of some of the tokens in my trust wallet app
I joined many mining projects for new crypto currency development (like; Pi, Eagle Network, midoin, BTCS Satoshi coin),
Pancakeswap is the exchange platform I use mostly, because I swapped coins directly to my trust wallet. Binance app, Huobi, hotbit etc are exchange platforms I've tried using for trading, but lack of practical knowledge about all this platform and the coin to trade got me overwhelmed and I wasn't able to continue.
CoinMarketcap and coingecko has been the market place6 where I get much of the informations I needed about all this coins I swapped from pancakeswap
But in truth I have lost much more than anything I have gained in crypto currency.
I can't forget my experience with Eifi (a new token) that just emerge then started trending, the guy I always look up to for coins to buy, made me join this project in their main site, (I bought 17 pieces of the coin a at $10 each in their website, when it was $100+ in the open market at pancakeswap). The coin on pancakeswap rise to $345+ each, before the withdrawal date from their website (closed market), they have dumped the coin on pancakeswap, now each of the coin in pancakeswap doesn't worth up to $1 (what an outrageous loose); from my above experience, and Token in my trust wallet now that has been dumped (worth nothing), it no more entice me to buy coin.
I think is all this experiences of mine were all because of lack of practice knowledge and due to self made inputs.
The recent trend of NFTs (Non Fungible tokens) has wrapped up my all time thoughts, (that maybe digital currency is not for everyone). In token coins they talk about "presale, public sale, hard cap and soft cap", now in NFT they're talking about private sale and all other terms they are using there.
Things like tokenomics, usecases, rewards etc really drive me crazy, (will I say many of these things are just may say or just illusional stuff ??).
Because all this stuffs there are overwhelming to understand and too confusions that follows it.
I really believe that cryptography is real, blockchains are real, and Cryptocurrencies are real and now the order of the day, following the advancement in our digital world.
But my all time problem has been a practical knowledge about crypto- "the process, the Do's and Don'ts, how it really work, what I need, to get something out of it etc."
Like mentioned in my introductory post
I've taken my time to read up as much as possible, most of the things I needed to start going, checked the Hive ranking on CoinMarketcap - the watchlist and predictions, indeed, Hive blockchain is a great project.
My love for this platform and the Hive's blockchain can not be measurable, not because of the rewards and the gains only, but because of the way it facilitates expression of our thoughts, sharing of knowledge, bringing individuals of like minds together. Indeed it's great joining this platform and communities here.
Slowly I'm get to my dreams, long term goal if I must say. Now I affirm to the popular saying that
I joined steemit in 2018 (that was exactly the time I started my journey for a source of income while in school), but I was so much lost about everything they do there there in steemit, because I came across the platform during my regular searches online those days, I wasn't able to continue. But here again, a friend of mine @hillaryisidore introduced me here on Hive, through some of his guidance I have been able to know exactly what they do here (that's practical knowledge).
Slowly is the fastest way to get to your dreams.
I wish for a practicable lessons, practicable knowledge on Hive blockchain, the blockchain is outstanding already, the tokenomics and the usecases are awesome.
My quest now is more knowledge of this project, how it really works, the processes, what's required, how to take advantage of this opportunities here and in general, a practical knowledge about this project.
Disclaimer: this I a short story of my adventure in digital currency.
Solely for the purpose of the sharing my thoughts and how I feel, experiences so far in crypto currency.
Therefore if anyone, wants come I for help, that will be great. I know some other newbies here like myself may have some thoughts, experiences or feel in any way like this.
You can add your own voice, I would like to hear yours too...
My regards, thank for the time
REFERENCE:
fungible tokens
A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded.
nft-explainer-what-is-blockchain-crypto-art
what is tokenomics
Tokenomics — the topic of understanding the supply and demand characteristics of cryptocurrency. ... These numbers help to enable transparency and monitoring of different aspects of the supply of a currency.
hive.io
Cryptocurrency for Web3
Hive is a DPoS powered blockchain & cryptocurrency. Fast. Scalable. Powerful. Hive has a thriving ecosystem of dapps, communities & individuals.