Everyday we learn new things. Learning is a continuous process. There are new information everyday, every hour, every minute. We learn, unlearn, re-learn - such is the cycle.
I have been mulling over this for days whether to write it or not. I wanted to write this as a note to myself. I haven't mastered anything yet. I want to look back to this in the future and see how far I've come.
Feel free to comment your inputs regarding these matters and let us learn from each other.
I have been reading about airdrop this, airdrop that, earning here, earning that. I'm not exactly sure what airdrop really means or how come others are profiting from it.
As stated above, simply put airdrop is the distribution of free tokens or coins. Why would they do that? To promote their token or coin. Reportedly, there are 6,000 cryptocurrencies out there as of 2021. Source
To make your token or coin known, you have to come up with marketing strategies. You have to do promotions so that more people will invest in your coin. The more investors, the more value your coin will be. How do you make others be interested in your coin? One of the best way to do that is through the process of airdrop.
I posted that in my noise account.
As I have posted there, I was informed about a $KITTEN airdrop. This was my first time supposedly to participate in such airdrop. I then searched in noise if someone posted about that. I do have account in Twitter but I don't spend my time there. I post some here and there but that's it. I then visited their Twitter account about the airdrop. I don't know where else to go from there. I had to seek help from Pachuchay regarding that. I don't have Telegram account and I had to create one just for that. So I messaged Pachuchay for help. She did guided me how to do it. By the time I figured out what to do, the airdrop ended.
Unfortunately, I wasn't able to join.
Then yesterday, I was then again informed of another airdrop which you can check here. It's about $ROCK token this time. I don't have any idea about that so I posted it in noise hoping to learn from others about that.
The target is that per 1 $ROCK, it will be equal to 10USDT. There are 20,000,000 tokens available for airdrop. There are 100 Ether Rock NFTs for sale. When all those are sold, then the airdrop begins. Read more here.
Stake on the other hand is a bit tricky for me. The more I read about it, the more I can't wrap my mind on the topic. Simply put to stake is to buy and hold. It's like opening a bank savings account, deposit some amount and let it earn through interests. When you stake you earn reward from every crypto transactions verified and validated. Also, you earn from fees that was incurred by every user for every transaction.
I hope I got that right lol!
Moving on.
Jane posted a comprehensive guide about staking and farming in BenSwap. Click on that and it will take you to her post about those process.
Honestly, I'm still not that confident to talk about that. All I did was follow her instructions in that post. I find it easy doing it while reading the instructions and following them. Once you get the hang of it, then it gets easy. There are also other articles within that post to help you start with Metamask, Coinflex and BenSwap.
It is intimidating I know. When she first posted about BenSwap and $EBEN, I did not take it to heart for I was of the thought that I can't do that. It's too much information to process.
However, it takes practice, willingness to learn and the right mindset to know things. So I decided to do it. I didn't get it right away. I have to keep reading and re-reading to make sure that everything is done the way she said it should be.
If there are things you don't understand or are not clear, you can always reach out to Jane or to others here and in noise who you think can help you.
As what others have been advising us, invest the amount you are willing to lose because there are admittedly risks involved. With BenSwap, I started with $10 at that time, around 0.015 BCH. I hope to gradually increase that. In any investment, there are always risks so it is important to do your own research before diving in.
As I have mentioned above, this is a note to myself. Those who have mastered this topic, feel free to share your ideas so we can learn more from you.
Thank you so much for your support and reading. See you around!
Cool Kuboy, that you already have some tokens on stake. I also took a lot of laps before doing it. Big gains have big risks. But as you said, what we have to keep in mind is that we must risk only what we are willing to lose.