Intro

Algorand has approved my application to become an developer ambassador for their blog. An exciting opportunity for any crypto blogger staking ALGO in their portfolio. Over the course of today's article I will try to outline exactly what being a developer ambassador requires.  If your looking to get involved with the Algorand community as well i will be listing links at the end.

Liquidity mining

In DeFi markets a concept called liquidity mining has been taking over. It sounds confusing but the core concept is pretty simplistic. By ensuring traders have liquidity for trading digital assets. For providing trading liquidity for these assets, the system rewards these liquidity provider. This system is mutually beneficial for both the system and the customers providing low transaction fees (GAS) and a form of staking with a monetary incentive.


Since I have been interested in liquidity mining for a while now I was pleased to find that the liquidity mining bot Hummingbot is so widely used in the cryptocurrency industry. This includes but is not limited to Crypto.com kucoin binance & Loopring (LRC) to name a few.

Algorand forum

     Though being a developer isn't for everyone. Those who may be less technologically skilled have a community forum provided by Algorand as well which is helpful for people who are new to Algorand and their Pure Proof-of-Stake model. While not as rewarding as say read.cash or hive they have a badge system that may also be used as a monetary incentive eventually. This is one route however those whom may be proficient in coding may apply to be a developer ambassador. 

Ledger

   I was pleased to find out that they have a developer who has made wallet.myalgo.com that works with Ledger products. Those who have been following my articles know that I am a Ledger user and affiliate que shameless Segway into marketing:https://shop.ledger.com/?r=83a6a7cc70e9


   Now back to the feature presentation. The only way I could gain interest on my ALGO previously was either through connecting a binance account which would not work for US citizens. The other way was to control my own node but that is not cheap. The only way I could earn interest before I could utilize my Ledger was to stake in a exchange or web wallet. 

Please note: I am not a financial advisor.  This is only my opinion on the subject.  I should also point out that the rewards system for liquidity mining is different for US citizens.  Everyone else can receive ALGO from the liquidity mining bot.  Not true for the US citizens laws here requires the rewards to be in fiat. This is not incredibly easy to set up as it requires a banks cooperation however it's a little cheaper come tax season.

Price

At the time of writing this the price of Algorand is at $0.32 making it a nice affordable option for investment.  Considering that the price was $0.25 on 11/6 their all time low was $0.10 and the highest recorded price was $0.88. They are a rather unpredictable however I think that I have been doing well enough by making purchases when they cros the the $0.20 threshold.


Conclusion

Thank you for your time reading I have been trying to get better information for my followers. This is why I was even thinking about applying to be a developer ambassador to begin with.  So truly thank you for supporting me with the comments, likes, and for subscribing.  I have just accepted my 4th sponsor yesterday and I have the community and Read.cash to thank for all of this.




Resources

Ambassador
https://community.algorand.org/ambassadors/

My profile
https://community.algorand.org/u/m2eru4/#/about

ALGO wallet/for Ledger
https://wallet.myalgo.com/access

Algorand community profile

https://forum.algorand.org/u/chubbie/badges

Algorand community

https://forum.algorand.org/

Humingbot discord

https://discord.hummingbot.io/

If your a fan of this type of content and would like to see more like it let me know by like and leaving a comment. Of Corse f you haven't already subscribed be sure and do that for more content daily.