I was in a bar with a few friends some weeks back, and to my greatest surprise, every one of them had a crypto wallet or exchange on their mobile phone.
How do I trade on binance?
Which exchange provides the best rate?
Those were the types of questions I got since I was the supposed crypto expert in their midst. It filled my heart with great joy and worries. Firstly, I was happy to see my friends embracing cryptocurrency. I have been in this sphere for roughly 3years and I have seen mass adoption of cryptocurrency in Nigeria--for good and bad reasons (mostly the bad unfortunate).
My friends were all hooked on a ponzi scheme disguised as a crypto investment.
Invest this amount, get 100% R.O.I
Outrageous returns that were too good to be true. I have heard stories about schemes like this that have rekted a lot of people. These set of persons go around giving cryptocurrency a bad name, even though they were stupid with their money--a lot of it. So to the average person in Nigeria, cryptocurrency is scammy, difficult to understand and shouldn't be touched. Honestly, I would be in the same category of persons who are sceptical about crypto investment if I did not discover hive.
Hive helped with my education
I won't say I am one of the most knowledgeable people within the crypto sphere but I do know the basics. I have gotten deeper insight into crypto during my three years of writing and engaging with people. Creating content and earning has been the safest window into the crypto sphere me and I advise that people take a similar route especially if you are sceptical about the crypto industry. You have the unique opportunity of interacting with people who have been in the sphere for quite some time; you get to ask hard questions and do your research which is paramount for any type of investment.
So if you ask me what I think about cryptocurrency this will be my answer:
FREEDOM and OPPORTUNITY
I have had no need for a day job in 2years. You might attribute that to the fact that I live in a third world country with a relatively low cost of living. However, I know people who have made a fortune for themselves in this sphere. It sounds too good to be true but it is. Things happen fast here and that's because the sphere is relatively new (and of course, the market is dumb). Imagine having the luxury of buying tesla/Apple's stock during its initial stock offer, crazy right? Well, that's the opportunity you get every day here. There is a new project adopting cryptocurrency and blockchain technology and you have the opportunity to be an early adopter at little or no cost.
It is more than the crypto.
There is a technology that backs crypto that people aren't mindful of. It is the blockchain technology and it is changing the world. I cannot exhaust the possibilities with this technology in this article. OWNERSHIP and IMMUTABILITY are at the heart of it for me. One key industry that will benefit significantly from the blockchain technology is the gaming industry--which is a huge industry. Social Media is benefiting from blockchain as decentralised platforms are built on this technology. With the rise in censorship, decentralised platforms are becoming popular as they offer immutable and provide high censorship resistance
Someone asked me the other day if I was in crypto for the long-run. I didn't answer correctly because I hadn't given it so much thought. But in retrospect: why not? In the next decade, I can amass enough wealth to afford the financial freedom I need. I have friends who are already on that path. It doesn't seem like a gamble anymore, crypto is the future.
Everyone needs to have at least one crypto
Your safest bet will be bitcoin. However, if you search deeper you might find some hidden gems like hive and the ecosystem built around it. Plus, what better way to get acquainted with the ins and outs of the crypto sphere than joining the LeoFinance community. DYOR.
Whatever you do, join the party. The free window is closing soon.