Each time I get asked how one can start up a crypto investment journey with little or no money, I tell them my Hive story. I am advocate that the first capital that is needed to start-up an investment is not money, but human and idea capitals, then followed by social capital. Human and idea capital for me are inseparable.
Human capital is the human who wants to invest and idea capital is the soundness of mind of the human that wants to invest. The man in his right state of mind can actually achieve any huge feat. That is why we've the lots of investment we've seen today. They were put together by people. Moving forward, I also believe that we cannot create wealth in isolation, hence the need for social capital. having just the right relationships is enough to give one an head start to a tangible investment and journey to wealth.
In this post, I try to explain how I Fundraised Thousands of USD from Hive for my Crypto Investments.
My active journey to engaging cryptocurrency and blockchain technology was in January 2018 being told of Hive (then Steem) by @Tomlee. It was all about a social platform I would learn from other passionate writers and that was just enough motivation to get myself enrolled. Days ran into weeks and into months, I discovered a great platform that did expose me to the world of social technology in simple and engaging contents.
1. Social engagements
I started out so well with engagement and it was and remains one of the fastest ways of growing on the Hive blockchain. This is the way a new users get's known. The components of good engagement involves consistency, originality and value adding contents. Whether in top level posts or comments, it is crucial that the quality of conveying a factual and creative information is prioritized.
Setting goals for 20 daily comments to 50 to 100 to 150 were diffficult but possible through determination and discipline. As a new user, #contests posts and tasks are a great way to build engagement skills here on the Hive blockchain. I remember winning 3SBD to 10SBD in weekly writing contests. Going deeper, I joined an "comments engagement contest" that won me a 500 SP delegation for one month then. That was worth about $3,000. It was actually the beginning of my exposure since I was able to give as much as $0.1 from my delegated HP.
Above shows my engagement stats - 2169 posts and 10,744 comments over the last 4 years of being a part of Hive. High quality engagement still remains an indices that can be trusted to better the lots of a Hive user.
2. layer 2 Tokens
Some weeks ago, I shared a post titled How I made my First Million - Blogging on LeoFinance. I did expose how engaging the LEO token quite at an early stage positioned me for a big cash-out during the bull. Hive blockchain stands out with the layer 2 protocol that allows anyone to create tokens and market same with a choice utility- proof of stake, proof of brain, proof of HODL and more.
I found the $LEO at the right time. Same with the $SPORTS token. A few bucks of investment which were a proportion of my post earnings were intentionally and consistently used to buy LEO and SPORTS token while they were almost worthless.
While there were several layer 2 tokens I invested, only a few turned out to be profitable. It is crucial to know the features to look out for in a token that promises a big future. For me, they include:
- Integrity of the token creator
- Utility created for token
- Sinks for making the token scarce
- Strength of the Community supporting the token.
- Development and long term plans
Besides the above features I looked for in tokens, I was intentional with my investment strategy. From daily staking/powerups to weekly and monthly goals, I intentionally committed a good proportion of my authorship earnings to buy tokens. I so believed in layer 2 token curation with high APR and low start-up funds. I tracked my growth with hitting the targets and kept investing even in bear seasons.
Every bit of Earning adds up
Below is a screenshot of my Hive account profile via Hivestats showing over 15k Hive rewards over the years. Every single post/comment and upvote keeps compounding the rewards we can attract on the Hive blockchain. Indeed, the power of compounding cannot be overemphasized. It is crucial as the rewards come, we do not withdraw all of it.
Wrapping things up, the successful hiving journey that can leveraged to raise sufficient funds for investment and wealth creation demands that the user do the following:
- Be consistent in engagement
- Add value to your community
- be consistent in investment
- Always do your own research
- Invest as much as you can afford to lose
- Stay positive.
Let's Connect
Hive: @uyobong
Twitter: https://twitter.com/Uyobong3
Discord: uyobong#5966