I am a cryptocurrency ardent who lives in a small town in Uganda and I enjoy talking to my friends, acquaintances, and family members about cryptocurrencies. The crypto sphere is amazing, but 8/10 of the people I talk to about cryptocurrency — know bitcoin — are interested in learning more about bitcoin and other cryptocurrencies and how they can leverage them in their day-to-day life.
These people always overwhelm me with questions like, how can I buy Bitcoin, how do I withdraw bitcoins, which cryptocurrencies to invest in, are cryptocurrencies real, what are bitcoin wallets and many other interesting questions.
It sometimes gets swampy, I mean the cryptocurrency world is quite extensive; it is growing exponentially with over 5000+ tokens. So, I find myself unable to answer all the questions in an hour's conversation.
Learning about cryptocurrencies is a process that takes time, i.e., entering the crypto world in early 2018 while writing content on steem(it)—currently, replaced by Hive Blog — and reading enormously from the platform I impeccably got to know the topic.
I've also written guides, reviews, how-to's, and crypto news on crypto websites—it is has been an excellent way to grasp the intricacies of the subject.
Although I'm not there yet, I'm thankful this crypto background is taking my life to new heights.
So, Why should you explore the cryptocurrency space in this quarantine?
Cryptocurrencies are deflationary.
I remember, back in high school, 2009, when was in a boarding section, my dad would give me about 50,000 Ugx (15 USD) as upkeep money for 2 months in school; it was a lot of money back then — my Ugandan friends can relate — but now what can 15 dollars do other than buy you only a meal at Javas.
In the same year, 2009, the first cryptocurrency, bitcoin, was invented; one bitcoin cost less than $0.01 in 2010, and amazingly this same bitcoin is worth $7800 now — this should greatly interest you; most cryptocurrencies are created to increase in value, their value increases with time, and this differentiates them greatly from fiat.
Money is not a prerequisite to earning in cryptocurrencies.
I know this is rather hard to believe because in the real world it's practically impossible to earn from anything you haven't invested into. However, the makeup of things in the cryptocurrency sphere is way different from the fiat world.
I've never invested my earned cash in cryptocurrencies but own a de minimis amount in cryptocurrency — only a few hundred dollars, anyway. I got into the crypto space with just a mobile device and internet connection and BOOM I grabbed my first cryptocurrency.
So, I perceive with the present business lockdown, cryptocurrencies can be the go-to place in this quarantine.
Cryptocurrencies are a great way to earn passive income.
Here, there are minute ways of earning passively: Rentals and dividends are the main known ways in Africa. And, literally, all these require a vast sum of money.
In the crypto space, there are many opportunities for you to earn some passive income without breaking the bank such as staking and delegating funds, lending, and also mining.
I personally earn passive income from delegating my #Hivepower which generates from writing blog posts on Hive.
By the way, free money can only be found in the crypto space.
Where can you learn about cryptocurrency?
Like I mentioned earlier, learning is a process; you just can't understand every bit of the cryptosphere in a day. However, you can follow the crypto platforms such as Cointelegraph, CoinBureau, and others that continuously rolls out content.
You can also read top cryptocurrency blogs from Hive, steemit, and PublishOx . I'll also continually shill out content on my Hive account and I'll be sharing the links of my blogs on Twitter, Medium, and LinkedIn accounts as well.
Conclusion
The lockdown is just beginning here in Africa, and it's likely to extend till early June. So, rather than sleeping all day, you can spare some hours to educate yourself about this revolutionary technology.
posh Twitter Share: