My SmartBCH Adventure : Noob trying out DEFI

Once upon a time, this crypto noob dive into smartbch. She has no idea what is DEFI or what is DEX, but she had an experience buying token on trust wallet using bsc chain because her friends are doing the same. Not because she knows a thing or two but it was because it was the only way she can get this particular token x.

Also this noob, previously, doesn't know why does she needs to used bep20 address. Haha. But what the hell she have found that out on smartbch. Basically, DEFI runs under smart contracts that is why it should use smart contract address. Smart bch runs under sep20 address and in order to get to the sep20 address you need to used a centralized exchange like binance. On smartbch it is coinflex. Bridge go like this,

BitcoinCash Wallet or exchange => Coinflex => Metamask

But recently a lot of developers have made a decentralized bridge like hop.cash and bcch.cash where you can withdraw and deposit fast, but of course with a fee.

Moreover, from different articles that has been posted on readcash and noisecase, I was able to create my very first account on Metamask wallet under smartbch address.

Also, I have to go all the way through coinflex bridge just to participate on my first ever presale. At first, It was a little hard to bridge on coinflex using phone because its not a phone friendly exchange. 😅

If you literally aren't inclined into the details, particularly if you are new to DEFI, It is easy to set up the wallet but might be a little hard to do the funding. But its only hard at firsts, and still its worth a try and an awesome experience.

My First Ever Presale on First Decentralize Exchange on Smart BCH (Benswap.cash)

You can see that I only participated an amount of 6.32$!!!! Seems like magic! Anyway a simple transaction on binance chain would get parts of it because of the fee 😃! Also, since the price of eben went upto 1.122$, my 49 eben is now worth 54.99$ plus the profit I gained during the staking period of about 25 eben. Not much but it was a good start for me, trying out my first Decentralized Exchange on Smartbch.

Moving forward, after the launch of the first dex on smartbch or benswap.cash dex this noob trying out DEFI tried joining airdrops, writing contest competitions. And even learn more how DEFI works. Ha. I also have been more active on twitter just to join meme contest to have more free airdrops! Haha xD

I have partipated even on more presale with a little investment to try and have a go on the projects that will get hype.

I also joined the Kitten LP writing contest and won second place.

https://read.cash/@Meyzee/milking-staking-my-kittens-bch-lp-to-earn-milk-bf8f86ea

If you would read right through the article I have no idea how impermanent loss works on providing liquidity pool. But because more of my friends are putting liquidity and is farming I have studied thoroughly the idea inside the pool. Why it was risky and why you should think twice about putting your money on Liquidity pool.

Here are the articles I have written and my discovery on how liquidity pool works. A detailed computations of what happening inside the pool in a pair of both unstable and stable-unstable.

https://read.cash/@Meyzee/how-liquidity-pool-works-1037e0e2

https://read.cash/@Meyzee/how-liquidity-pool-works-on-unstable-pair-part-i-520c805b

https://read.cash/@Meyzee/how-liquidity-pool-works-for-unstable-pair-part-ii-23bfcddf

Not only that I have also joined the contest on a video tutorial on how to provide liquidity pool on a particular pair of SPICE-BCH LP and won 50000 SPICE. And I have given a worth of 7000 spice to the chat rain on telegram groups. And my remaining SPICE are farming eben and tango. Here is the video that I made.

I have also written my smartbch token portfolio and why I bought them.

https://read.cash/@Meyzee/my-smartbch-tokensportfolio-0901353b

Currently the tokens I am holding and no plans of selling yet because they are made unique are;

$Celery, $Fire, $Eben, $Bpad, Spice, $Joy and $Wojak

Those other tokens that I haven't had are the ones I missed to enter on the lower prices. 😅 And some are for short trades only.

Haha so still DYOR. ;)

I have learned a lot on smartbch and I have realized that if you wanna play the game around DEFI, you have to play at the bottom if you plan for a short profit. And make sure to not buy on top. 🤣

I have also experienced being rugged by the MCASH, Lizard, Akita and Beach token. So I made sure to do my own research before I dive into investing. Also, there is no way I have not done the selling because of FUD and buying because of fomo. Haha. But I am looking for projects that I am not always looking at the chart. 😅 It is a little tricky to try buying and later seeing the graph with a red candle.

All in all, smartbch is awesome because of,

1. Fast

2. Low fees

3. You can send, airdrop, swap, exchange as little as 1$ without worrying about the fees.

How about you? Are you having fun using smart bch? Or you haven't tried it yet? Come on! LFG! 🤣

I am accepting free tokens btw! Haha xD

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