After the events of 2017/2018, mainstream interest in blockchain and cryptocurrencies quickly died down. "The bubble did burst, we'll never see these numbers again!" was a common narrative, many sold their tokens at huge losses, others were happy they never did make the step to buy cryptocurrency in the first place. Either way, when I told anybody that I'm involved with blockchain stuff (and earning quite a bit along the way), most people just gave me an odd look and quickly changed the topic. Not too surprisingly, this has changed a lot these last weeks.
All of a sudden, everybody seems to remember that I was the crypto guy and with BTC sitting at 46,500$, now obviously has to be a great time to buy some tokens! I'm sure many of you have made similar experiences in the last few days or weeks. FOMO is starting to kick back in and all of a sudden everybody fears to be left behind, completely ignoring that they already missed out on a potential 5x-6x for Bitcoin in just a matter of months. Most of these people are completely ignorant of what blockchain actually is, they are just looking to make some fast cash and be done with it. So how to handle a situation like that?
I feel like the most important thing is to first educate them a bit about what to expect, where we are coming from and where we might be heading. Right now, there's a strong case for Bitcoin going to 60k by the end of the month. But if Elon decides to tweet JK, thanks for the pump, Tesla just sold all of this shitcoin, tomorrow, we could just as well see a massive dump. I think it's crucial to understand that while you absolutely can make some fast money with crypto, you can also loose a lot of money very fast if you don't know what you are doing and obviously, anybody new to crypto won't know what they are doing.
So I go on to explain how hodling is a powerful tool in the crypto world, how you might be down today, but eventually you'll see a new all time high. I explain how you really shouldn't buy any crypto with money that you will need any time soon. At that point, many already loose interest. Those that don't usually become intrigued by the whole concept. While I always encourage them to slowly start dollar-cost averaging Bitcoin if they want to get into, I also use the opportunity to introduce them to another amazing (longterm) investment opportunity - Hive and LeoFinance.
There are several good reasons to do so. First of all, I truly believe in Hive and I think it's an awesome investment opportunity, especially as long as the token is still as undervalued as it is. LeoFinance is the perfect add-on to it, as it introduces them to second layer solutions and helps them to understand all the wondrous things that are going on. That actually leads to the other great plus of investing there. Contrary to Bitcoin, there is actually something going on for Hive. It's not just a storage for value, it's a living, growing blockchain, full of opportunity and real world use cases. It's a concept that people new to crypto can actually understand. So instead of buying something so somebody else is going to buy it from you for more later, you invest into something that has a real use and that will provide you with permanent passive earning.
In fact, this last point is what's making Hive and LeoFinance really interesting for new users. Once you have everything set up, it will generate a return without the need to sell anything. This is what got the first friend I've brought to Hive really interested: Earning constant rewards on top of potentially profiting off of increasing token prices. Now obviously, the best course of action for new users would be to jump right into the action, start content curation and publish articles themselves. The truth is, though, many of them won't be interested in that, at least not right away. I'm German, so most of my friends happen to be German as well and naturally, many of them aren't to keen on reading or writing in English. There's a German community on Hive, but it's small and nothing an outsider would love to jump into right away.
So instead, we've opted for automating things as much as possible. Here's what I did:
I've created a new Hive account for my friend called @alexandrabauer. She wanted to invest about 2,000€ for now, so I decided to split that money between Hive and LEO. 2,000€ bought her 5,000 Hive and 2,032 LEO tokens. All tokens have been powered up to her account and since she won't do any curation herself, she's just following my LeoFinance curation account @khazrakh.leo using rewarding.app. This way, she should earn great curation rewards both on her Hive and her LEO. Once a week, I'm going to present her with a short earnings report that both reflects gains in token and fiat value.
We'll keep going like that for about a month. After that, I'll introduce her to some more investment opportunities on Hive. Maybe she'll buy some LBI-Tokens or some Disco-Hedge. Maybe she'll get into CTP as well to diversify further. The great thing about Hive is that it provides a lot of the opportunities the rest of the blockchain world has to offer as well, but you can use them only spending 10$ or even just 1$. Because of that, I feel like Hive is the perfect playground for anybody new to the crypto world.
My hope is that she's not only going to earn some great rewards that way, but over time to get her more involved with and more educated in crypto as a whole. Also, she can work as a multiplier to get more of my friends interested in doing the same and getting a Hive account themselves. So the next time one of your friends approaches you for some advise on crypto, why not bring them to Hive yourself?
And that's all from me for today, thank you all for reading and see you next time!