It had been a while (well not a while) that I was introduced to Bitcoin by a friend. A while back that I couldn't remember the year but still remember the price of Bitcoin, a while back that Bitcoin price was around $300-$400 USD. Since then, I tried to search and read about Bitcoin and how mining works whenever I had time and whenever I had remember the topic. Being a technical person(sort of), what I had read may be mostly on the technical side rather than financial side.
After reading all sort of things about cryptocurrencies, I said to myself that Bitcoin price is too high and Ethereum has better future. But, I couldn't find a way to acquire Eth or any cryptocurrencies from my home country as the services were not available in my country and I was not serious enough to buy any cryptocurrencies and looked for alternative ways, that for years, I didn't own any cryptocurrencies at all.
Serious with Crypto
Fast forward to 2021 February 1st, military coup happened in my country, Myanmar and I knew that everything would go straight south. The economy was slow enough because of Covid-19. Decades of poor management and corruption had put the country into poorest one. It was less than 5 years of semi-civilian government (25% of parliament seats and some important ministerial positions were reserved for military) elected by the people had put effort to build the country. The country had put into dark age again.
I realized that I need a new way to adapt the situation and cryptocurrencies may be the answer. Starting from that point, I seriously researched cryptocurrencies and block-chain technologies or distributed ledger technologies and find ways to acquire the cryptocurrencies and income generation methods.
Strategies
At first, I didn't really know what to do. Investing and trading is one thing to do. But with limited available money, I couldn't do much with trading and investing. At the moment, cryptocurrencies are more like the speculative asset even though some of them have very good potential.
One thing I had done was searched for how to earn cryptocurrencies and learned about play2earn games. As a result, I started playing Alienworlds. Although I think Alienworlds NFT game doesn't seem to have a very good future, it is still doing OK, may be because it was one of the earliest play2earn game. As a result, I invested in Wax and keep playing Alienworlds as well as trading on Alcor exchange. I also thought about playing Farmersworld game, but I thought it was just too expensive and I doubt that the way it was designed and the way players are doing won't make a sustainable game play. Still I traded some FWF and FWW on Alcor exchange. Soon enough, the prices crashed and never recovered that I still have some tokens. Anyway, my Wax account is growing slowly and I am looking for some other NFT games to play on Wax especially with the sustainable game play design.
Another play2earn game I came across was Splinterlands. After tried playing a couple of games, I knew it was a sort of game I was looking for. I like to earn playing game, but if it is not fun, what is the point. I think Spinterlands is fun to play as well. After playing sometime, I even transferred Hive from my trading account to Hive blockchain and convert to DEC and bought some cards and packs as well as Hive-DEC liquidity. Unfortunately, the DEC price dropped that I had this Impermanent Loss. I know there is a risk, I took the risk for the SPS airdrops.
There may be a couple of games that I am thinking of playing, Rising Star and Heroverse.
Splinterland brought me to the Hive community and I think Hive has got potential. Hive is building user base. Applications like Splinterlands bring in more users. Different applications with different ideas will bring in different users. Hive has several communities with own interest, own way to incentives the community members. The first community I joined is @actifit. As I usually do jogging to everyday, Actifit is a way to motivate yourself and others. Splinterlands community also is very supportive that even if you write similar things everyday, you'll get upvotes. The community encourage to write about daily quests and weekly challenge. I think Actifit and Splinterlads communities are good places to do your blogging practices especially for non-native English speakers like me as the community is very forgiving. I am also very glad that LeoFinance encourages us to post our #NewLion post. There were not many posts except Actifit and Splinterlands I had posted. You can read my introduction post here.
Another post I had posted is about a pair of old shoes auctioned for the revolution in Bruma that you can read here.
I invest and traded a few cryptocurrencies such as IOTA, Hive and a few others.
IOTA has a lot of critics, but I'd say it is aiming to be mother of all blockchain with fee-less and scalable architecture. Future metaverse could depend on it. I'll try to spend my time on IOTA, Assembly and Shimmer so that I can build something useful for my country and my people in the near future. I know it won't be easy, but I'll try.
So, to sum up my strategies, I invested and trading a few cryptocurrencies. Play Wax games and Hive games like Splinterlands and post about the games on Hive so that I make very small amount of money everyday and enjoy the games. Read a lot of articles about DLT and hopefully contribute and engage to the community by blogging and posting starting from this kind of challenge posts. Provide liquidity to get small passive income. And my ultimate goal is to build different applications on IOTA.
I have to say at this moment, it is far from financially independent and still very very far from building applications. But, I think I can build up slowly become more proficient at what I am doing as I am spending more of my time on DLT related things.
Conclusion
Sorry if my post is too long and un-organized, as I am very new to writing and never was good at it, and English is not my mother language. Thank you for reading.
!Cheers