Crypto Trading : Why Futures Might Wreck Your Finances
Over time, the way crypto is traded has changed in a lot of ways. What was once restricted to spot trading has expanded to cover other types of trade. One of which is futures contract.
Futures trading was first offered In the latter part of 2017. Since then it has gone on to be a regular features on various exchanges.
As stated earlier, there was just spot trading available before the advent of futures trading. It came and opened up more Opportunities in trading the cryptocurrency market. The market could now be more fully utilized by traders. One can profit from the the market irrespective of prevailing market conditions.
As opposed to standard spot market, one could now benefit whether the market was bullish or bearish. This changed the game for a lot of cryptocurrency traders. It becomes even more alluring when you take into account the possibility of increasing your returns to unprecedented levels.
Nevertheless, Contrary to expectations, if one were to sample opinions, one would find that a lot of individuals are quite terrified trading futures, In spite of the enormous advantages if offers. A lot of people have really burned their fingers trading this market. Which is quite understandable .
Futures trading is a very high-risk method of trading,especially if you are newbie .
Funny enough, it's one of the easiest and quickest way to profit from the market for experienced traders.
As already said, one major benefit and a core reason why so many people choose futures, is the opportunity it offers in any market condition . With futures, you can make money whether the price is rising or falling. You have the choice to go long or short on the market, depending on your expectations.
Another possibility is ability to employ leverage to increase the returns on your trades. Through the use of high leverage, I have read about and observed individuals who were able to gain over a hundred times their initial investment, in the shortest amount of time. But doing so carries a great risk.
The possibility of losing it all, which occurs frequently, especially for novice traders, is a significant drawback. I've also witnessed instances where folks go from 100 to 0 in a flash . In futures, The likelihood of losing your money is very high.
People frequently overlook, perhaps ignorantly, the truth that leverage is a killer and actually a two-way road. The value of a possible gain is equal to the value of a prospective loss. In actual reality , I will gain or lose 20 times on a trade if I use 20x leverage. Most people only approach this market with thoughts of winning alone.
The thing is, I don't necessarily need to employ all the leverage available to me, truly makes no sense. Especially as a novice.
In addition, most individuals see trading, especially in futures, or even spot, as a get rich quick thing. Sadly, they get to realise it is not what they think. They end up blowing up their money.
Yes, a lot of people becomes successful taking this high risks. But statistics shows more people lose their savings than they win them.
Trading takes time and patience, whether it be in futures, spot, or forex. Above all, effective risk management is highly important and a fundamental tool for successful traders.
Greed is a killer, and it doesn't always lead to success.
How Crypto Is Making A Difference In A Developing Country Like Ours
Yesterday I had some intriguing conversation with aome friends. We spent a lot of time talking about the global economy, with the country serving as a microcosm of the larger picture.
One of the fundamental questions we intended to address was whether crypto currency was a better alternative to money. In this case, Fiat.
As I know one or two things about crypto , I provided my thoughts and responses based on my years of experience with both, particularly in the light of current events and developments. Also looking at the country's present deplorable economic situation
To begin with, understanding the value proposition of crypto currencies in comparison to traditional cash is essential. The Nigerian Naira is a perfect illustration of how fiat money is failing.
Over time, my level of trust in the use and adoption of crypto currencies has grown a lot. This is even made easier when you consider the current issues confronting the world's economy, as well as the reckless decisions made by the regulating authorities.
Cryptocurrencies have provided answers in more ways than one, at least to me. You would definitely understand more if you lived in a nation like Nigeria.
The simplicity of usage and transactions is one of the major advantages of crypto currencies . Regardless of how you look at it, transactions are always faster and easier. With so many limits on fiat, especially in Nigeria, this point stands out and comes in useful. More on this later.
Another advantage of cryptocurrency is that it helps, in a way, to safeguard one's finances, especially against inflation. This specific argument has fueled its widespread acceptance in many parts of the world.
Almost every country in the globe is facing some sort of inflation or another. As a result, the value of the country's currency has fallen. Britain has had one of its worst periods of inflation in forty years. Nigeria has fared even worse. The country is seeing its greatest rate of inflation in history.
The naira, the country's currency, is at an all-time low versus the US dollar. The current exchange rate against the US dollar has nearly doubled since this time last year. The local currency is currently selling for over 830 Naira per USD, up from around 400 Naira last year.
As terrible as that may sound, for crypto fans like us, it has actually been a blessing.
Crypto has been utilized as a hedge in numerous ways. Majority of people have more cryptocurrency in their savings, particularly stable coins, than they have fiat money.
You will comprehend better when you compare holding a cryptocurrency like a stable coin to holding the Naira since this time last year.
To put things in perspective, if you had 500,000 naira converted to and saved in USD since this time last year, you should be having about 1,000,000 naira if you convert back to naira now.
The value of the dollar has doubled. And the slide is not looking like stopping. This makes it more justified to keep investing in and saving in cryptocurrency.
Going further restrictions on how consumers utilize foreign exchange from their banks have recently been put in place. Currently, majority of people are unable to pay for online dollar purchases. Most providers are stopping their services. Making international transaction a pain in the neck.
There is a limit on the few services that are still available. These restrictions can occasionally be as absurd as $10. What transactions can one complete with $10? Due to this, people are unable to effectively conduct their foreign transactions.
People need something that works. It has been a difficult task for many people, especially those without knowledge of crypto. The good news is that crypto has provided a solution, thanks to recent advances.
Debit and credit cards supported by Visa are appearing more frequently than one can count. I recently made a transaction of $250 in a matter of seconds, using a card powered by cryptocurrency. With a fiat-backed version, this would have been almost impossible in Nigeria.
Adopting cryptocurrency has been a no-brainer for a nation like Nigeria, which is dealing with high inflation and severe economic difficulties. Of course, it has its own drawbacks (what doesn't? ), but the benefits by far outweighs them. To sum up, Crypto would always be a much better option for many of those of in developing **nations.**
Can You Tell The World About Read Cash And Get Rewarded
What if you have the opportunity to tell the whole world all you know about your favourite platforms like read.cash and noise.cash. Would you love to share your experience, so far, using this two platforms? And what if you could get paid a token of $10, just for giving your honest opinion?
Blockchain based social media platforms similar to Noise and read cash has been on the increase recently. As at the last count, there should be over 30 of them.
Funny enough there are generally not enough data out there for people to see all about them. Most people are not aware of what they are, what they do or how people can be part of them. There are basically not enough information.
It would be interesting , for instance, to know about the language and other demographics of people using a particular blockchain social media. What they love to post more about, and generally their likes and dislikes.
The question is, how easy is it to get this relevant information for reference and research purposes, So people could look it up and decide what they think about it.
You could actually help in making this possible. You can share Read.cash and noise.cash with the world. Tell them the beauty of being here. Your experiences and all the wonderful things you know about them. And for participating in this research you would get $10. .
So Would you love to be part of this research and contribute your own quota? Well, your time starts now, lol.
A team from the social media Lab, from The Toronto Metropolitan University, is carrying out this research. The team includes Anatoily Gruzd, Philip Mai, and Alyssa Saiphoo,all from the University.
The idea is to better understand the nature of blockchain based social media platforms and why people love using them the way they do. According to them, the research is part of a larger research to understand how blockchain based platforms can be leveraged to benefit users.
For the research, you would need to complete a simple online pre screen survey. You only need to answer questions on your demographics. Where you live, age, employment status etc. Once you are done with the pre screen, you will be given a unique identifier code and you would be directed to a page where you will have to choose a date and time for your interview.
At your chosen date and time, the interview will be on zoom. You would be asked questions about the blockchain social media platforms you use. After the interview you are given $10 for finding time to participate.
To be a participant, please go to the website : http://rebrand.ly/interview
I have chosen my preferred interview date which is on the 19th of July. Earlier dates has already been taken.
If this interests you, do go ahead and get your interview date. It would be nice to have a large representation from the read.cash community. Let's tell the world all of the beautiful things about read.cash. It would be fun.
Why This Hate When They Don't Even Know Me
I believe we are all guilty of this. Most of the time we tend to judge people by our own perception of them. What we think they are or what we think they represent. Often times we fail woefully in this regards. Time was when I was at the giving end, and I wasn't too happy how it ended.
So how well do you understand the human mind? How well do you even accept the other fellow the way they try to present themselves.
Life in itself is complex. Dealing with the complexities of life is even more complex.
We are not omniscient. The human mind is shallow. No matter how intelligent we think we are, we lack knowledge of a lot of things. Probably, that's why Most of the times we misinterpret peoples action to mean something totally different from their original intentions.
At a time, I desperately needed help. I found myself in a situation that made me so depressed. I was drowning, I could hold on to a straw to stay afloat.
I had this senior friend in my area that I believed was quite well to do and was very confident he would help me. At that time he was a picture of what every young man's dream looked like in the area.
Funny enough I was so reluctant to meet him for help initially, but when all else failed I had no other choice than to meet him.
I met him and told him my challenges and how It was a matter of life and death that he helped me. He looked at me with a sad face and told me he wouldn't be able to help me but will give me what he can afford at that moment.
He gave me some money (didn't count it) and prayed with me. I got home, counted the money and felt really bad and insulted. Imagine needing a help of $1000 and you are given $3, lol. I hated myself for going to meet him in the first place and hated him even more for mocking me.
In my shallow understanding I thought he was making mockery of my situation. I stopped talking to him, even greeting him was a problem.
At a point I stopped seeing him in the area. I later got to know he moved out to a friend's place in another area. Shockingly, I also got to know that all this while things has been terrible for him. My situation then was even better than his, when I asked for his assistance. He lost his business and other means of livelihood. Before he moved he couldn't even feed himself.
I was heart broken. I cried miserably in my heart. Most probably what he gave me the day I asked for help, was about all he had. How wicked could I have been?
I tried looking for him but no one seems to know where he was. Till today, I can't seem to forgive myself.
This scenario plays out everyday in life as we live it. We think we know someone so well when of a truth we barely know them. We are quick to see that which our mind is telling us that we fail to see things from the other persons standpoint.
As a matter of fact some of us take others good deeds for wickedness. We go as far as complaining because what was given to us is far from what we expected. Some of us have this warped entitlement mentality.
The funniest thing is that we have not even stopped to ask ourselves the salient question, what if it was their all that they gave to us.
I have learnt, a long time ago, to always give everyone and everything the benefit of the doubt. I have also been in a reversed situation too where my widows might got nothing but hatred and attacks for me. Karma right?
It can never be over emphasised, in everything appreciation is key. I learnt this, believed this and keeps practicing this. No gift is too small.
I also learnt something which has guided me so far. When asking for help, always go with an open mind. Its one of two outcomes, yes or no. Nobody owes us anything. I never count it against anyone when they say no. After all you don't know what the situation is like with them.
Life is truly a beautiful place if we try to put our selves in other people's shoes.
Original article by me. This article first published on my blog on hive : here: ecency.com/hive-105727/@ugomarcel/why-this-hate-when-they-barely-even-know-me https://ecency.com/hive-105727/@ugomarcel/why-this-hate-when-they-barely-even-know-me
All pictures taken from unsplash.com with artist names credited.
Stranded On The High Sea. My Journey Of Death, Pirates And Fear
Did I really do all of that? Of course I did. Even more, lol.
So today my mind went back to a much more younger version of me. When i had no worries whatsoever. When there was so much adrenaline to burn. Then I never knew what the word careful really meant. You know what it means to be young and reckless right? That was me.
YOUNG AND CRAZY
I was always on the lookout for the next adventure. Daring and so ready to go. Whatever my mind could conceive, I am all out to achieve it. How I never really ran into trouble, I simply can't relate.
As I grew much older, my love for adventure and risk greatly increased. How I survived it all still amazes me till today.
Name it, I have done it all. But a particular experience humbled me. It nearly cost me everything including my life. The story of how I came out unscathed is worth writing about. As I look back, I begin to see the folly in all of my actions back then. What Could have been if not for mother luck. On so many occasions I stared death in the face and said " not today"
I might not remember every other escapades but this particular one I can't forget. This actually changed my perception about life and how to live it.
I have done everything there is and I needed a new type of adventure. I felt I needed to explore another country. What else is there to see in my country?
During my next school holidays, the idea of going to a foreign country completely overwhelmed me. The problem is, how do I go about it. Luckily for me a cousin of mine came back at that time. He was staying in Cameroon. Another country from ours.
I told him I would love to pay him a visit. He laughed but still gave me an address. He probably thought I was joking. He will be shocked soon, lol.
WHAT NEXT?
The Holidays went by quickly. I was to go back to school. I was in my year 2 in the university. I got to school and found out our lecturers were on strike. School not on session. My holidays continues. Was I overjoyed?
Quickly I thought of what to do. Going back home was completely not an option. So what next? Then I remembered my plan. Is this the right time? I thought so. I was going to Cameroon to see my cousin. But how do I go about it? No Passport, not enough money, no phone number. Only had an address. Don't even know if it is a correct address. But my mind was made up. I was desperate to travel.
I had lost my Student ID card the previous semester and I couldn't get one before we vacated. I had to get a friend's ID card and affix my picture where his should be. At least let me have a form of identification. Imagine the risk.
I had two options available to me for the journey. I either go by air or by water. Where would I have the money for flight? So I had to settle for water. Never liked water as a means of transportation but I had no choice. I made enquiries and was directed on how and where to take a boat as there was no ship available.
I must say, this journey had so many red flags, but I chose to ignore them. My mind was made up. I could only see myself in a foreign country.
So I boarded a boat and off to Cameroon I went. So many incidence on the way, but I will not concentrate on them for this article.
IN ANOTHER COUNTRY
We got to Cameroon late in the night and after much asking I got to locate my cousin. He was quite shocked. I stayed with him for 2 weeks. Enough drama I must say, but will also save that.
I decided I need to return to my country. My only option, just like when I was coming, was through water. Again!
I chose a date and the date arrived. I would not be taking the same route. This time I would be taking the high sea. I was really uncomfortable, I have this phobia for water. To make it worse, we will still be using a small boat.
The day of the journey arrived and my nightmare began.
THE NIGHTMARE BEGINS
I had gotten to the jetty very early so I could be among the early boarders. Bought my ticket and was waiting to be allocated a boat. None of the available boat was in good shape. So we waited. For hours we continued to wait. No boat in sight. It dawned on us we were going to make a night journey. At about 6pm, some policemen came, commando style. They started shooting unprovoked. Later learnt they were looking for one of the boats pilot. About 5 people lost their life in the incident. I barely escaped. As it was, we couldn't continue the journey that day as the situation became tensed.
The next day came, Issues were not resolved till about 5pm. It was getting late we had to go. Never knew more sinister was waiting for us on the sea. This is where the real story begins.
NOW IT BEGINS
1 hour into our journey, we had our first dose of what is to come. From no where some men in military uniform double crossed our boat. They arrested everyone and took us all to the boat, which is much more bigger than ours.
They searched everyone and took whatever they could find from is. I had my money hid where they couldn't see it, so I escaped that. They now asked for our passports. I gave them my ID card. They looked at it and gave it back to me. Somehow they were lenient on me but not so with others.
They later allowed is to go but after some of the passengers had paid heavily for their release. This whole drama took approximately about 2 hours. By now it was almost 9pm. I later got to find out they were sea pirates.
We restarted our journey only to find out the boats light was damaged. The pilot and his conductor had torches so it wasn't that bad. Little did me know we were in for a big shock.
IT NEVER RAINS BUT POURS
Not quite long we had a heavy turbulence. Somehow the conductor lost his torch. It fell into the water. Well, we still had the pilots torch at least.
Before you could say Jack, one of the outboard engine developed fault. While trying to fix it the second torch light also fell into the water. Perfect!
We were still battling with the first engine, then the second engine packed up too. That was when we discovered our boat was leaking from underneath, lol. I told myself if only I survive this.
No light, two engines bad, boat not moving, boat leaking seriously, on the high sea. I saw the devil laughing at me. We were literally standing still with water gushing into our boat. I just knew this time around I was cooked. We were sinking. It was crazy. I promised God if I get out of this alive, I would never be that stupid and reckless.
HELP
We had to look for anything to bail water quickly out of the boat, if not we will capsize and drown. Luckily we got some plates and it really helped. Luckily also, one of the engines started working, though not at full capacity. It was obvious it was faulty.
We managed to crawl with the engine for the rest of the journey , still bailing water out of the boat, till we got back to the country.
It was a harrowing EXPERIENCE. I not sure I would like a repeat. That journey helped a lot in curtailing my excesses. I would say I became more responsible after this.
He Gained $750,000 On Spot Trading, Lost It all On 2x Leverage Trading. What Could have Gone Wrong?
Some trading stories would make you sit down and wonder if they really did happen. But when you remember this is crypto, you would realise it is truly what it is. Strange stories, but 100% possible in crypto.
Trading the financial market, crypto currencies especially, carries with it a whole lot of risk.
For the untrained, it is more like taking a gamble. You could definitely loose your whole funds,and that's even putting it mildly.
Trading requires a lot of skills and know how, that takes time to acquire. The irony of it is, even as a so called professional trader, you could still loose money. Maybe not as much as a Novice trader.
I have lost money trading, so many times, Even as someone with a fair knowledge of trading. I have never been liquidated though. Not because am a pro(I am far from one) but because I am fearful enough to always use some safety measures when trading. It might not be fool proof 100%, but they have prevented my portfolio from some major loses. Sometimes I wonder how people loose so much amount of money trading. Then I see this particular story and am awed.
So, going through twitter few days a go, I stumbled on this story. Sounds unbelievable but seems true. Given the token involved.
According to this person, he was able to build his trading account to $750,000 in 3 years spot trading. Quite impressive if you ask me. Unfortunately, He subsequently lost all, $750,000, trading Luna with 2x leverage. Does this even sound possible? Just 2x position! What could he have done wrong.
I try to imagine where it could have gone wrong for him. Things he did and things he didn't do that could have cost him that much. I might not be a pro like him(building an account to $750k takes a lot) but I could see some mistakes. Maybe some level of overconfidence leading to oversights in this particular trade. I doubt I would make this costly mistake. But hey, you never know. Nobody is infallible. **?**
SO WHAT HAPPENED?
**Stay with me.**
SO WHAT HAPPENED TO STOP LOSS?
As a rule, never trade without a stop loss. This is one salient rule in trading. From day one you are made to know this. As much as you are confident on a trade, you should know, nothing is given in this market. 1+1 is not always 2. I strongly believed he didn't use a stop loss or better still kept adjusting it to accommodate a losing position. People could be that confident a reversal is coming, only for their account to be liquidated. For me I set a stop loss and forget about the trade, if it hits it, am out and done with the trade.
RISKING ALL IN ONE TRADE
Who does that? Well, apparently this person does. Loosing $750,000 on one trade. But how do you risk all your funds on just one trade? To a good trader, risking even 10% of their portfolio could be crazy,especially in leverage trading. I can't see myself risking more than 5% on a trade. I believe if he had used a proper risk /reward ratio, he would probably not have lost much.
DIVERSIFICATION
There are many assets he could have spread his funds. Cryptos, stock, forex. Diversification is always key when you have such funds. Perhaps he built that money in the first place trading just one assets. If that was so, it was always a disaster waiting to happen. And it eventually happened.
CROSS/ISOLATED MARGIN
How people choose cross margin as an option, trading futures, beats me. In cross even your other assets are not spared if the market goes against you. What happened to isolated margin?
KNOW WHEN TO RUN
When you keep adding to a loosing position, you are just one step from calamity. Yes it does work at times but it's never a good one. We should know when to cut our losses. I believe this still boils down to having proper risk/reward in place.
LEVERAGE IS A KILLER
Someone once said this, I never fully understood at the time, but I think I do now.
The thing is,
Leverage is a beautiful tool to trade with, but without the proper safety practices in place, even as a professional, you will hurt yourself
The summation of it all is, without proper risk management, we are simply gambling and not trading sensibly. It never ends well most times
Story from coinfesion on twitter https://twitter.com/coinfessions/status/1540696407572480003?s=20&t=I_QtPe__GqMVjZYtTySbcA
My Personality: Now You See Me, Now You Don't . 30 Days Writing Challenge
Life is fun if you see it as fun. One basic principle I have learnt about life is to take it as it comes. No stress, just relax.
Being on read.cash will expose you to so many prompts. Even if you are not the prompt type, you cant help but notice the different contributions to various prompts.
I have been seeing different prompts but have never partaken in any of them. Never gave them a thought. However this particular prompt seems to align with me a great deal. For over a month now I have read writers contribute to the prompt " 30 days writing challenge." This got me interested for so many reasons.
I would call myself a lazy writer,lol. I have been on this platform for about a year now but I don't think I have written up to twenty articles. It's that pathetic. Why this is so, I can't really explain. Maybe laziness, funny enough this is one of my personality.
In order to help myself in being productive, I have decided to be part of this writing prompt. Perhaps it should give me the needed boost I so much crave for.
So today is my day 1 and it's all about my PERSONALITY . A very apt tittle to start this sort of challenge. Since we all are behind our keyboards, I assume nobody knows anything about anybody on this platform, except you let them know.
Would love to share just a little about me, what makes me thick. I don't come regular, if you know what I mean. With me, there is nothing to hide. So let's get started.
MY PERSONALITIES.
WHAT YOU SEE IS NOT WHAT YOU GET
To a large extent you might get confused if you are not close to me. Most times I appear too, too serious with life but that is far from what I am. I could look unfriendly but trust me I am super friendly and the easiest person you could approach. With me, most times what you see is not what you get.
BLUNT AS EVER
My dad was a completely fearless ma. He is never afraid to tell you as it is. This has rubbed off on me and my siblings. So if you don't want to hear the truth, just avoid me. Don't ask me of my opinion if you are looking for someone to cover up for you. I hardly take side, as a matter of fact I don't. Even if you are my best friend, I will tell you as it is. Maybe that's why I don't have plenty of friends. You know people don't like you telling them the truth. We like people supporting everything we do whether it be good or bad.
I LOVE HUMANITY
I don't do religion. I am not a religious person. When people hear me say this, they get confused. Especially in a highly religious country like mine. The thing is, I completely believe in God and worship to him. I don't believe it is until I go to church or a mosque before I can worship him.
I honestly see religion as being divisive (my opinion please). Religion has caused so much problem in the world. I believe everyone is serving the same God but through a different medium. The way I see a Muslim is equally how I see a Christian brother or sister. I have seen where the family of a Muslim sister refused her marrying a Christian just because of his religion. I think this is wrong. Doesn't make sense to me. I believe in humanity and I see everyone as one. So please don't ask for my religion.
READING IS LIFE
This particular personality I love so much. I could read as early as I turned three. Books has always been my companion from that tender age. Even in pains, I could completely immerse my self in my books. I can go without food for days but not books. This has contributed greatly to what knowledge I have today. I am versed in so many things, most outside my scope of study. Trust me I could do plenty of things simply because of this personality of mine.
IF BOLD WAS A PERSON
I can confront anything. If fearless was a person, I think that would be me. I hardly get scared, quite rare. I have this bold conviction I can take on anyone and anything and still come out unscathed. Maybe my black belt in taekwondo is 'deceiving' me, lol. Funny enough I detest fighting. Can't remember the decade I fought last. It would take a ton of provocation to make me fight or engage someone. One thing is, I can't be intimidated, even if you are THANOS.
ANOTHER NAME FOR LAZY IS UGO
One terrible personality I wish I could change is my laziness. I could procrastinate forever. Things I need to get done in an instant can take me weeks to complete. This part of me I pray seriously to change. It has cost me so much.
CAN I JUST DREAM IN PEACE? THANK YOU
I believe a little child is allowed to dream and fantasy. How do you explain an adult that daydreams so much. Mine could get to a point of excessiveness. The good thing is they sometimes makes me strive to achieve some of the things i daydream about. Though I don't get to achieve most(for now). But hey, its good to imagine once in a while, don't you think so.
INDOOR OR OUTDOOR?
I am not too much of a social person. I could stay indoors for weeks, provided I have my cable subscription and Internet enabled. But I occasionally go out with friends. Its not really a thing for me though.
WHO DOESN'T HAVE MOOD SWINGS......... BUT
One minute I might be all hyper and boom the next minute I want to be on my own. You call it mood swings, I call it being me, lol. This could get terrible if I don't really know you.
I play a lot with friends but I can easily withdraw to my shell before you know it. There are days I would lock myself in my apartment, alone, for up to three days. Neighbours might think I travelled. Whether this is good or bad, I can't say, but it works for my sanity most of the time.
LET IT OUT
I could get loud when trying to get across to someone. I could raise my voice so you hear me clearly but then it ends there. Once am done pouring out my mind to you, probably shouting at you, it ends there. I don't begrudge anyone. I simply don't have the energy for that. I abhor malice. Wouldn't keep it with anyone. At every point in time I want to have a free mind. That's why I will tell you your fault when you offend me, maybe I would shout while doing so. But that's its, I have poured it all out. Nothing is remaining on my mind. A free spirit.
AS CALM AS.......
I have this uneasy sense of ease. I hardly get moved or worried by events. No matter how terrible a situation is, I have this inner calm that hardly makes me panic. I could be so at ease even if the whole world is falling right now.
There are so much to say about my type of person but this ones are the easily recognised personalities about me. They explain me in every way possible. I believe I am still a work in progress. I know I would drop some of these traits, especially the lazy part of me. I would get better even as I grow older.
How about you? Are you taking part in the challenge? Have you talked your personalities? Would love to read about them.
BCH, All Cryptos Down Almost - 100% But My Portfolio up 200%. How We Survive A Bear Market
Not again!
Woke up this morning to see the market taking another dip, After yesterday's moves. Dashed optimism. There has been some form of hope of a further bullish progression. I guess we have not seen the bottom yet.
The market has been in a free fall for some months now. Virtually all coins has been falling . It took me some time, but I finally realised we are in a bear market. From all time highs, to below 2 years lows, as we have now.
Bitcoin fell from an all time high of over $69,000 to a low of 17,588. An almost - 70% fall. The number one cryptocurrency is currently trading at 20,450. In the same vein Ethereum rose to a high of over $4000 and fell back to a 2 years low of 880, a - 75% fall.
BCH is even worse off, taking a - 85% hit from its recent high. From a high of $1650 in May last year to a 2 uears low of 106. This market is not for the feint hearted.
If this is not a bear market, I don't know what is. The fact is, we have been here since the second quarter of 2021, we just didn't seem to pay attention. Most probably because it was a gradual, slow process. Unlike what we had in 2018.
Technically, everybody holding a token or a coin for over one month should he in a loss. Your amount of loss is a function of how long you have been holding. Bch holders being the worst hit with over 1000% loss so far.
I believe one of the reasons why we buy a token or coin is to eventually make money from them. Seeing them decline in value does not please anyone. It takes a lot of steel hands to still be holding cryptos at this declining prices. Imagine buying bch at a May high of $1650 and still holding at its current price $115. What could be more heartbreaking?
ZERO SUM GAME?
The funny thing about crypto, just like you have in life is, just as people are loosing money, some others are still making tons and tons of money from this bear market. I don't think I would be wrong to say crypto is a zero sum game.
The fact is, many people are actually making money even in this Dangerously bearish market. I stumbled upon an article written by @eirolfeam ,talking about making about $1000 from this bear market.
For a fact, to most people, this is even the best time to make plenty of money. Did I hear you say "how do you mean?"
DIVERSIFICATION
The Beauty of the crypto market is how diversified it is, compared to other markets . Though complex, like any other financial MARKET. We should not look at it from one standpoint or from one frontend. Hodling is great but might just not be enough. What if the tokens never recovers?
LET'S MAKE LEMONADES
They say when life gives you lemon, you make a lemonade. So when the market gives you a trend, you CREAT multiple scenarios with it. In crypto holding on to just one view 'could' be suicidal.
As earlier stated, the beauty of the crypto market is its diversification. There are many ways to approach this market. There are many ways one can profit immensely from the market irrespective of the market trend. Irrespective of the market being bullish or bearish. The thing is, we need to understand what to do and how to do them. If possible get the needed skill set.
I have been hodling some tokens, BCH inclusive, since last year. As you might guess, my hodling account should be down by about 70% to 80% as a result of this bear market. It is that bad.
What if I tell you that my total portfolio is up over 200%? I might be down holding, but I more than cover up with other crypto activities. As a matter of fact it doesn't matter for me what the market is doing. When you learn and develope some certain skill sets, it doesn't matter the direction of the market, you just tackle them head on. You are prepared, whatever the market throws at you.
The question is, how do I protect my money and even make more money in the face of falling crypto prices. What if price never recovers, what happens to my held coins?
Like I stated, I am loosing money holding my coins. In order to mitigate my losses and boost my chances of making more money in this market, I do a number of things which has proven to be a game changer.
DCA: DOLLAR COST AVERAGING
We can't talk about this enough. This simply means adding to my holding portfolio even as prices continues to go low. This is mainly for good coins with very good fundamentals like BCH. The future has never been brighter. I see it attempting and even surpassing the previous high. This doesn't requires much skills, just try to add more, no matter how little, as price keeps dropping.
SPOT TRADING
Spot trading requires some level of skills so we don't gamble with our funds thinking we are trading. We basically buy when prices are low and sell off when prices are high. These are normally short term trades. You need to know the right moment to buy and when to sell off.
For instance buying btc at a low of 19000 to sell back at a high of 21,300 for a 12% gain. That means if you invested $1000 you should be having a profit of about $120 after selling. Sounds easy right, but it could be tricky. You need some level of skills to maneuver very well. Crypto is very volatile, without the right skills you will loose your money.
FUTURES
Futures trading is a bit more technical than spot trading. In spot, you buy an asset and wait for it to appreciate for you to sell and make money. You only make money when price appreciates.
In futures, you have the opportunity of making money whether price is appreciating or depreciating. You can place an open order to buy or sell. For instance, the price of an asset is 200 and you expect the price to go lower, you can place an open order to sell. So if prices goes lower than 200 you are making money. This is not obtainable on spot.
One feature of futures is the ability to use leverage. So you could magnify your profit by set margins. If you choose a 10x leverage, it simply means you will be multiplying any profit by 10. So if originally your trade is profiting 10%, your are getting times 10 of that. Note that you would also loose times 10 if the trade goes wrong. Remember "Leverage is a killer."
So with futures you could make money in any direction the market goes, just be accurate when predicting price. You need a lot of knowledge to be able to trade futures. It is highly risky and not to be played with without knowledge. I have more than doubled my portfolio with futures in this bear market. You could too, just learn.
One thing you must know is that futures trading is highly risky. Greed is a great killer in this market. Because there is a 20x leverage does not mean you should use it. Just like forex trading, you need skills to navigate. I must say, the bulk of my profit has come from trading futures
LP FARMIMG
LP farming has been a good contributor to my portfolio. Some people will ask, how do you farm when everything is falling, considering impermanent loss.
After suffering so many losses, especially in SmartBCH, I am careful what farms I invest in. As a rule, for now at least, I only farm stable coins. I discovered farming phbd/USDC, both stable coins, on polycub.com since early this year. The farm Started with an APR of 57%, now its about 27%. Which means, if it remains at this rate, a $1000 investment should give me a return of about $23 every month. It was actually more than double of this when it started. What could be better than earning money without too much risk. http://polycub.com
All of this, one way or the other has contributed to growing my crypto portfolio even as market continues to plunge. That's the beauty of crypto. Diversify your resources.
I believe anyone can achieve this, you only need to know how. It is not rocket science.
Still Not Happy With You Dad,But I Love You And I Miss You
sometimes the poorest man leaves his children the richest inheritance." Ruth Renkel
Most times I ask myself, "can I be half the man you were?" can I sacrifice even a portion of what you sacrificed for us, for my kids? Perhaps with time I will get to find out.
Source: Vitolda Klein . unsplash.com
I grew up in a large family. We were ten kids in all. A pretty big family you would say. Two of my siblings died later though. Things were quite rosy for sometime. We had all we needed, we lacked nothing.
Then dad lost it all. Business became bad. Mum's petty trading was struggling, it could barely survive without dad's help. It became hard.
We Had Nothing But We Had Everything
It's a familiar story that resonates well with almost everyone. But mine was special. Even with nothing to give to us as kids, we still felt the purest of love from our parents. Those guys made Miracles practically every single day. My dad especially was a modern day superman, if you know what I mean.
At a time I was owing my school fees and was sent back home to go and get it. Knowing the situation back at home, I knew it was hopeless going to ask. We barely ate the previous night, lol.
I refused going home straight. Loitered around while waiting for school over before I go home. I was quite young, but wiser for my age. I didn't want to cause more misery for my dad, so my little mind told me.
Some how pops got to know I was not in school that day and didn't come back home straight. That day i received the beating I would never forget in a hurry.
In my little mind I was like, look at who I was trying to save the stress of paying school fees by not going to school. I didn't understand at the time, he was ready to do whatever it takes to make us go to school.
That day he sold almost all his clothes, not as if he even had much, sigh. He sold them so he could pay part of my school fees, so they could allow me continue.
Miracle Worker
This man was a selfless Dad. He deprived himself of so many things so we could have some form of happiness. We barely survived, but home was heaven. He never held back. He worked so hard so we could at least be like other kids, even though he failed most times, lol. He was ready to give his very life so we can live.
I was confident I would repay him all he did. I was confident I would ease his pains and make him super happy the rest days of his life. But he had other plans. He was in a hurry to leave. I still don't get how he chose to break my heart. This was not the agreement.
May 1st 2018,i got a call. A call that shattered my life. A call I have not yet recovered from ever since. My dad is gone. He died from a brief illness. I was devastated.
This was not the plan. You were supposed to name my kids. You promised mum forever. You are still owing us so much dad. How do we live without you? This phase was terrible phase in my life.
I was sad he left, but I was not sad. He instilled in me all I needed for success. I could never ask for a better dad. God bless you wherever you are Dad. You made Miracles look easy while raising us. I would pass this to my children.
It's a great blessing to have a wonderful father figure in one's life. Not everyone can boast of this. So if you are lucky to have one , you should cherish them.
Steve Dimatteo unsplash.com
Happy Fathers Day
To all the beautiful selfless Dad's on noise cash. The world celebrate you specially today. Happy fathers day!
God bless immensely.
Pegaxy P2E: What Do You Do When Your Passion Is Lost
Prior to this time, I have read and heard a lot about P2E games, how great they could be to the players. In some stories, I heard how much of a killing people are making playing this games. I am not a thorough game person so wouldn't know much about most of the games out there, but I do know about axie infinity and Splinterlands. Who wouldn't know about this two though. At a point they were taunted as the biggest play to earn games ever made.
Axie infinity really caught my interest as it had a very huge following. Heard tales of people making decent amount of money daily playing it, especially in the Philippines, sometimes this earnings are insane, as I heard.
I actually thought of joining the axie bandwagon but was somehow put off by the initial cost of starting up. I couldn't get a scholarship from guilds I applied to so I decided it wasn't worth it for me. Perhaps I took the right decision back then not to invest, as everything about axie is almost like a ghost at this time. On the flip side maybe I would have recouped my investment. Maybe, Who knows?
Missing out on axie kind of made me more interested in P2E games. I began to explore more. I was on the look out for the next available opportunity.
Fast forward to early this year, I got to know about Pegaxy. Pegaxy is a no skill horse racing game. Looking at the game play and reward, everything was beautiful. The game itself was easy to navigate as there was no skill input from players, just a few clicks on your phone or computer and you are good.
The reward token, VIS, was doing wonderfully well at the time. Reward was random and one could make upto 500-600 vis per day. At a high of 0.25 per vis, most people were making about 125/150 usd everyday.
With the Pega(NFT horses) prices ranging from $700 to over $1000 at the time, one could actually get back their investment in a little less than one month. If price remains the same I should be making a killing every month by just clicking a few times a day, so I thought. It was unbelievable.
Like we all know, absolutely nothing is stable in the crypto world, even the so called stable coins, lol.
So with great expectations I bought my first pega and subsequently bought a second. All costing a little above $1500. I was lucky to get 2 pegas on scholarship from a guild. Making my total Pegas 4.
First week was awesome. Racing 4 Pegas is a bit stressful and boring though but when you look at your earnings at that time you will definitely have the zeal to play on.
Like I said, first weeks earnings was great but the downside for me was you can't get your earning till after a 15 days period. I guess this is to check against people dumping the earned token. Whether this was a good move or not is another discussion.
By the time I was due for withdrawal, the once great price has started to crash. Since I never planned on cashing out soon anyway , I decided to keep holding and accumulating. Unfortunately week after week the price keeps crashing.
I found something rather strange with the system. In most other projects, updates brings a boost to the price of the game token, but with pegaxy the reverse is always the case. Update after updates saw price crash from one low to the next low. From all time high of 0.25 to a low of 0.00014. Price is currently at 0.00018.
The drastic fall in the price of VIS has greatly killed every passion one has for the game, at least for me. How do you explain earning above $100 daily, initially, to now earning less than 0.5 usd in 15 days of playing the game as a scholar or even less than 3 usd as an owner of a Pega. Sounds ridiculous right?
I am trying to find the passion I once had for this game but honestly I can't see it. How does one even keep on keeping on knowing at the end of the day you will get technically nothing from the stress.
One thing I do, I console myself by thinking am accumulating the tokens at a super cheap price. Sometimes I ask my self, what if I keep accumulating and the price keeps on dipping, lol.
The developers are actually trying so much to better the game but this hardly have effect on the token. I still believe Pegaxy will get better.
So do I sell off my investment and move on or still continue with the game since I still have some level of faith in the project. Here lies the confusion for me.
Was I Wearing A Mask? Where Has All My Beauty Gone
Imagine the likeness, today of all days, my friend decided to ruin my morning by giving me some reality checks. Bringing to life something in my subconscious that has not yet come ashore .
So I woke up to this beautiful big eyes starring down my face. Seeing me awake she said, Oga (fun way of saying master) you know you are getting old. I was taken aback. Are you serious? Who asks those kind of questions early in the morning, I mean who does that, lol. I didn't see that coming .
Later as I took my shower, those words echoed back again, "you know you are getting old" . For once I tried to avoid looking at the bathroom mirror. Afraid to see bare face reality. But I did anyway.
Looking deeply into the mirror, I could see it. Tiny fine lines beginning to appear on my face. I tried to smile but the wrinkles appears to increase. I stopped smiling , lol. I don't like what I hate.
Youthfulness gradually fading. For a second I didn't know how to feel. Do I feel heartbroken? Maybe. That once handsome face is not as attractive as it used to be few years ago. But why didn't I notice it all this while? Perhaps I chose not to see it, the lines has always been there.
Oh, It's now beginning to fall in place. All the recent struggles to carry out activities I would normally do in a breeze. Things now matters more to me unlike before. My priorities are changing, they are like opposite of what they use to be. Everything now makes sense to me why it suddenly changed. This guy is getting old!
It is the circle of life. Whether I see it as a good thing or bad thing is immaterial. It is what it is. We live in a youth obsessed age. We all want to remain young forever, at least the ladies, lol, but Life doesn't think so.
Ageing is a natural process that is going to happen to us all....... Halle Berry
Not quite long I travelled to see my mum. As she came towards me to hug me, I looked at her and smiled. I remember the younger version of this strong beautiful woman in front of me as a kid. Looking at how age had made her so frail and dependent breaks me. But I chose to smile.
Its a process, from babies to adulthood back to being babies again. It's a circle. No one escapes it except you are a vampire, lol.
The beauty of it all is how we choose to see this phase of life makes all the difference for us. I have realised it has not really changed my approach, it just made it better. I have more wisdom now. Things that hardly made sense to a younger me seems more meaningful now.
Funny enough I tend to be more happier now and way more tolerant. In a whole lot of ways ageing does not define me. Like they say, we don't stop playing because we grow old, we grow old when we stop playing.
How do you see ageing? Do you embrace it as part of you now? The good thing is, as we come of age we tend to get better and even more beautiful if you ask me. We make less mistake as we are much wiser. It is a beautiful time of our life and we need to embrace it and adjust accordingly.
All pictures taken from unsplash.com from the various artists.
Like Philipines, Like Nigeria. Why Are We Not Exploring Blockchain Gaming
One beautiful aspect of crypto currencies that appeals to almost everyone is its diversification. From simply Hodling, to DEFI to Nfts, to the latest taking the world by storm, "Gamefi", there is always a use case.
Crypto currency diversification has made it possible to on board a whole lot of people with varied interest. Some of this are people who hitherto were not quite interested in crypto and what they represent.
Someone once said, whatever Be Your taste, whatever you like, there is a token or coin associated with it. One aspect of crypto that is taking the world by storm is GAMEFI, or rather, play to earn as some will choose to call it . Though new, the momentum it os generating is quite strong.
GAMEFI is the combination of gaming and blockchain powered remuneration . In simple terms, GAMEFI allows gamers to earn crypto coins for their in game efforts.
GAMEFI, as earlier stated, is taking the world by storm. It is the rave now. Practically everyone wants to have an experience of what it is. From Splinterlands, Thetan Arena, Gala Games, clash of clans to the the latest craze, Pegaxy the numbers of adoption has been off the roof.
Suffice to say, GAMEFI has come to be a major income earner for so many people all over the world especially for people from developing countries.
Going through read.cash and noise cash, one can't help but notice different stories and posts on how successful most people are becoming just by partaking in blockchain games
World wide statistics shows that Philipines is the country with the highest adoption of blockchain games. There are about 45% of the world total gamers from there alone. Over there, it is a major source of income. It is quite astonishing. This has helped in so many ways to contribute to providing viable employment to unemployed citizens or even as an additional source of income.
Coming down here, Nigeria , just like The Philippines , is a third world country. A country with a teeming youth population. Unemployment rate is over the roof and rate of criminality is always on the increase.
When I look at the Philippines, I see a lot of similarities with Nigeria. I now ask myself why are we not exploring this aspect of the blockchain. Why can't we replicate such here in the country? With Nigeria's over population and very high unemployment rate, blockchain gaming could easily be a game changer.
Nigeria is one of the top sports betting or gambling country in the world. If only we can channel same or even half the energy towards blockchain gaming, I believe we will be a hundred times better for it.
People make over $30 per day, playing most of this blockchain games. Cumulatively this is even more than what some top managers make in a month in the country.
In the Philipines, blockchain gaming is big business. People setup shops and offices just for others to come and play and make money for themselves. Most guilds are managed by them. Imagine that being replicated in Nigeria.
The beautiful thing about this blockchain game is that they are quite easy to setup and play. Most don't require complex skills to participate. Take for instance the latest craze, Pegaxy. It needs absolutely no skill and people are making a killing with it.
Seeing all the enormous benefits in blockchain gaming, I believe Nigeria as a country stand to benefit immensely from its adoption. The question is, how do we get to on board people to it.
Creating massive awareness is totally key and it begins with the few that has experienced the benefits. There are huge potentials in blockchain gaming and it has the capacity to change lives especially in a country like ours.
#blockchaingaming #Filipinoreaders #pegaxy
Crypto Is Beautiful, Make Them See The beauty Anyway Possible.
The year was 2009, approximately 21 years ago. An anonymous individual under the pseudonym "satoshi" created what is today, arguably, the first crypto currency, and called it bitcoin. Since then it has gone on to be the biggest crypto currency so far.
The numbers of different crypto currencies, better known as altcoins, has gone on to increase to over 6000. With the growth in numbers of cryptos, so has the growth in their use cases. Initially cryptos was used mainly as a form of payment, peer to peer if you will.
Over the years this image of crypto has greatly changed. There are so many things cryptos are used for as it is. So many use cases if you put it that way. To put it in proper perspective, for most aspects of life their is a use case available in crypto.
People have choices and likes as the case might be. What is applicable to one might not be appropriate for another. As we are different so is our likes different.
The beauty of crypto currencies is that it covers almost every aspect of life as we know it. Very far from how it used to be at inception. For every field there is a crypto use case. Defi, gaming, sports, betting, music, casino, social media, etc.
So many people have been attracted to crypto due to a particular use case. Many people fell in love with crypto because they love gaming. Like you know there are so many crypto built around gaming. Splinterlands, axie infinity, dragonary etc. So also is banking, where you have DeFi. Travalar for travelling, Nfts for arts and so many other use cases.
You will agree with me that initially crypto were basically for hodling or trading. You either hold your crypto waiting for price to appreciate or you take advantage of the fluctuations in price movement by trading.
The idea here is to identify which aspect of crypto suits you as a person. I remember talking to a friend about investing in crypto. All I said didn't interest him in the least, so he was quite reluctant. When I introduced him to defi, he became interested. Today he has more investment in crypto than I do. Same with a colleague, not until I showed him Splinterlands did he become interested in crypto.
So you see their is a particular use case that might attract that person to crypto currency.
Like they say, everyone, everything has a price, the idea is to find the price and pay it. Find an interest they might like, their is a crypto in that regards.
Crypto is beautiful. We need to make them see the beauty in every way possible.
SmartBCH : As I Saw In Cake So Am Seeing In Eben
Since late last year I have made some good progress investing in some crypto projects. One model that has always paid off for me(at least most of the time),has been to successfully spot a project and get involved quite early.
I vividly remember buying an unknown token (then unknown ) earlier this year, I think sometime in January. I had done my research on it and seeing it was supported by Binance, it was not rocket science to see it will fly high. A lot of fundamentals were backing it up. That token happened to be CAKE, the governance token for Pancake swap.
I bought just about 100 units of CAKE for roughly $70, not wanting to risk anything. So much rug pull on BSC. I staked all into the cake pool. I was getting dividend from staking as well as the price appreciating at a good pace.
Few months later CAKE was selling at $30 and eventually got to an all time high of about $45. I sold half of my cake holding inclusive of the ones I got from staking. I got approximately $2000 from selling them.
Price subsequently crashed very low. I bought more tokens at about $10 as that was a great opportunity to replenish and even have more. Since then I have been holding cake in different pools as I believed in the project. Now the price is about $20, not yet at the all time high but we can see a lot of progress . still more to come I believe.
So where am I heading? Like I saw in cake earlier this year, so I am seeing in EBEN token now. Again, it's not rocket science. EBEN is Quite at an early stage. The developers can only build on what they have achieved so far. There is so much advantage as a first mover you know.
Might look as if nothing is happening as it is, but I see so much about to happen that I am looking for even more money to add to my holdings.
Two things I really look forward to happening in BenSwap would be the addition of more staking pools and so many diverse liquidity pools on the farm. Just like you have on pancake. I heard there is an IBO, similar to pancake swaps IDO, in the works. That for me would be a major attraction. I have profited a lot from initial offerings on different platforms, BSC, POLYGON, KUSAMA, AVALANCH, etc, that I can't wait for it to get started on SmartBCH. It's definitely something to expect with great anticipation.
Just yesterday another Liquidity pair was created and added to the farms with plenty more still to come. Gradually but surely everything will be put in place. Its a marathon after all.
I believe with time we will begin to see a much better EBEN and eventually Ben cash. The price might be crashing at this time, but I expect some form of stability soon and subsequent rebound to a much higher level.
So for me it's no brainer, HODL. (not a financial advice please) the SmartBCH storm has not even started, we are still too early.
What If Its A Bear Market? The Case For Crypto Futures Trading
I started learning how to trade the financial market in 2007,well before the advent of crypto currencies. I started with forex trading. I devoted so much into learning it. I was quite young then so had enough time to my self. I must say it took me some time for me to understand what the market is all about. It took me approximately one year. Started trading live in 2010 and like most traders lost my first account, about $1000. This loss made me sink myself deeper into learning and understanding totally the market.
Overtime, as I continued to learn more, I was able to significantly understand the market. I could now trade without loss. I am not among the best there is, but I get bye.
The financial market, especially the crypto currencies market, does not move in a straight line. There will always be ups and downs,twists and turns. High today, low tomorrow. Sometimes a trend up or down can continue for weeks, even months. The onus is on you to identify that trend and follow it. Now what if by default you don't have the option to make money from a falling market, as the case with crypto spot trading where you only make money when price is rising.
The crypto market in most ways is similar to the forex market. Most times what works in one, works in the other, as you have in all financial market.
We can trade crypto currencies in two ways. Spot and futures trading. Spot trading is mainly buying and holding. Waiting for price to appreciate before sell off. You could hold your buy position for as long as you like. Take note that price does not always go up so could go against you for as long as you hold it. Imagine still holding BCH bought at the recent all time high of about $1700 in March. You would be loosing over $1200 as the case may be.
The second aspect of crypto trading is the Futures trading. Coming from a forex background I prefer this more than spot trading. They share basically the same features. Futures trading is also known as leveraged trading. You can magnify your profit by over 120x, that's one hundred and twenty times the normal returns. On the flip side you could also magnify your loss by same margin if the market goes against you.
One big advantage futures have over spot trading is ability to make money even in a bear market as against the spot market where you only make money in a bull market.
So technically if the market starts rising you can take advantage and make money. Consequently if the markets starts falling you could change your position to sell and still make money. Note you will have to be doing the right to succeed. For instance price is at 500 and you are convinced price will go down. All you do is simply place a sell order. As price continues to fall you will be making money from the bearish situation. Same thing applicable if you expect price to rise.
So basically you are open to opportunities in a bull or bear market. Unlike spot.
One major fear in the futures market is the fear of leverage. Some crypto exchange allows you a leverage of up to 120x. That is, if a normal spot trade gives you $10 for a profit. 120x will give you $1200 returns for that same move. That's the power of leverage. Also Remember you only need a little move against you to liquidate your account. Leverage is a killer, so use it wisely.
The question now is why would you want to use a high leverage to trade. As a trader I hardly go above 3x, even that's on rear occasion where the market is quite obvious. I mainly use 1x or 2x at the most. 1x is almost like what you have on spot.
In a market like the crypto market the more equipped we are, the better result we can get. Its good to be prepared to take any opportunity the market throws at us. Hodling is much better for a very long term investors. 90% of crypto traders are, as seen currently, mainly holding for short term gains. Unfortunately most of them sell off at a loss. Once price starts tumbling as it is now, fear sets in and they panic sell.
In summary what if this bearish conditions continues? Are you a strong hand, can you hold through a full blown bear? market? What if you could add trading especially futures trading to your skill set in this market? That would be great right? There is still time.
Quest For Crypto Adoption: Supporting Crypto And The Blockchain
I get asked a lot of time when crypto currencies actually started. So many people are of the opinion crypto started with bitcoin and so started in 2010. The shock on their faces when I tell them crypto started way before the advent of bitcoin.
There has been many crypto currencies that predate BITCOINS. Before now they were more known as digital currencies. Some of this earlier coins include Hashcash developed in mid 1990's, well before bitcoin. We also had bit gold, B-money and many others. They were largely unsuccessful and eventually failed.
Bitcoin was developed in 2009 and eventually launched in 2010. This started a totally new generation of digital currencies, coming with its own blockchain. Since bitcoin was launched, the world has been amazed by the technology behind it. With the success of bitcoin came other crypto currencies. To date there are over 6,000 other crypto currencies. Most of them just like bitcoin with their own blockchain.
12 YEARS ON. HOW FAR?
Twelve years on crypto currencies has generally evolved. From the original concept of peer to peer transactions to multi use cases. Crypto is now used in so many ways that are quite unbelievable.
Crypto currencies as they are, are gradually replacing the way things are normally done. They are disrupting the order of things. With the coming of DEFI, the use of crypto has gained more prominence.
THE CASE FOR ADOPTION
In spite of all this development, a Major hurdle facing crypto currencies has always been adoption. How do we get them to mainstream? Statistics shows that only 3.9 % of the world populace uses crypto. This is an estimated 300 million people. Looks like a large number but a far cry from the over 7.6 billion population of the world. This statistics though somewhat encouraging is still a long journey from the quest for crypto adoption. Not everybody wants to trade crypto, not everybody wants to buy and just hold. Many people wants to put theirs to use.
The beauty of crypto currencies now is that there are so many use cases for them and this should make adoption easier than it seems. There is that something that fits everyone no matter their orientation, no matter their likes. The onus is on us, the early adopters to discover and show them various ways crypto can be used and earned. We can actually do more with crypto.
As crypto development grew, so came up plenty of projects and platforms providing crypto related services. Whoever thought of masternodes, DeFi, sports betting, prediction, casino, gaming , all integrated into crypto.
HOW DO YOU SUPPORT CRYPTO.
The question now is, how do you support crypto currencies and the blockchain. Which aspect of crypto currencies or the block chain do you partake in and promote to others? As earlier mentioned, their are many project and platforms built with the aim of propagating the Gospel of crypto currencies. The idea behind this article is to engage support for these projects and platforms in other to eventually increase interest in crypto thereby allowing for more adoption.
So as a crypto enthusiast and early adopters, we could avail ourselves the use of this platforms and great project listed here instead of the regular known ones. This projects and platforms include, but not limited to
LBRY TV:
Inspite of challenges facing it, Lbry TV is still standing strong. A YouTube like platforms that rewards creators and members with crypto as they use the platform.
NOISE.CASH
**a micro blogging platform that promotes the adoption of bitcoin cash. Share short messages and picture and get rewarded for your efforts. Aimed at promoting bitcoin cash.**
READ CASH
Reading this already means you know about this great platform. Here you can write all you want and blog it. You get paid doing this. Also aimed at promoting bitcoin cash.
HIVE/TORUM/LEOFINANCE /MIND/PUBLISH0X.
Just like read cash, this platform allows you to write on crypto and other aspect of life and get rewarded doing this. People make a living on the sites. On some of them you get paid on the native token of the platform.
SWIRGE
Facebook like platform. Share your stories like you would and get rewarded for doing that. Promotes the swirge token.
BLOCKCHAIN GAMES
There are so many out there with different names and presentation. Axie infinity, my defi pet, bch games, clash of clann, so so many to name. The idea is instead of playing other games why not engage your self with all this blockchain games and make money for your self. So many people do this as a job.
BETTING/CASINO
BETFURY: This should arguable be the number one blockchain betting and gaming platform. From sports betting, gaming, casino, name it. They are all available on Betfury.
DEFI
Decentralised Finance has literally changed the way we bank. For once banking looks like it's on your own terms now,thanks to crypto and blockchain. Imagine borrowing without any paper work. Earning interest many times higher than you will get anywhere in the world. There are so many aspects to defi projects and platforms, we only need to find out which one suites our purpose.
The beauty of all this is that crypto is still very much evolving. Defi it is today, tomorrow it will be something else. So their will always be a project that will appeal to anyone. We could help in making it easier for newbies, using this platforms for our activities and going ahead to recommend to others. The beauty of all this is that it is a win win for all involved.
So what are we waiting for? We can always start now. I have already started as am involved in all that is listed here.
Which of this projects and platforms are you involved in? Are they different? Please share so we learn and follow. The more, the merrier.
Moringa And Love: My Beautiful Nature Stories
"Love nature, love the totality of life..." marcel
This opening quote explains nature as the very essence of life. Nature in all its ramifications is completely intriguing. The beauty of child birth, the annoyance of mosquito bites, the terrifying picture of a volcanic eruption, sharks in the see as top predator to other fishes, the gigantic trees as we drive bye on the way home, the fiery outburst of humans, the soothing sound of the rain as it patters on the roof. All these encapsulate the essence and beauty of nature in its full glory.
SO WHAT IS NATURE?
So what do we understand as nature? According to the Oxford dictionary, nature is the phenomena of the physical world collectively, including plants, animals, the landscape and other products of the earth as opposed to what mankind created. So basically what is not created by man could as well be classified as nature.
Along the same line, nature is the inherent features, characters or qualities of someone or something. Saying one is of a peaceful and quite disposition is stating his or her nature as a person.
Nature, whichever of the definition we choose, as earlier stated, has always intrigued humans. For it is said anyone who is in tune with nature is well in tune with the very practice of living. Ignoring the beauty of nature in any form at all is simply denying existence.
As an individual I have recognised and experienced nature and benefitted immensely from the gifts of it has to offer. I have also played my part in shaping humanity for good with my inherent nature as a human.
Nature has been kind to me beyond that which I can explain. Undeniably, I am just like everyone surrounded by nature. Plants, animals, air, fire, all attributes of nature as we experience them.
I have always seen alternative medicine as better alternative to orthodox medicine(my belief). This is a gift for healing from nature, if only we know what to look for and how to apply them. I use nature a lot for cosmetics purpose,for construction and to generate power in so many ways. Nature is indeed beautiful.
For the context of this article I will be talking about the healing powers of nature as experienced personally.
NATURE AS A HEALER
Early last year I was down with a strange ailment. Each time I go to the toilet I was always stooling heavy blood. I thought it was something I could easily manage as I kept taking drugs after drugs. The blood was quite heavy and I was loosing plenty of it. I got so weak from so much loss of blood at a point I was afraid of my life. I went for a test and it was diagnosed as COLON Cancer. I was terrified as that was not the result I was expecting. It got worse even with some new drugs prescribed.
Around June I had remembered I had read somewhere about the healing powers of the Moringa plant. I did more research on Moringa and decided to give it a try after all there was nothing to loose.
Luckily for me we had so many compound close to us that had the Moringa tree. Quickly I got some fresh leaves. Washed them and blended them into juice. I immediately took one glass of the Moringa juice and took another glass later in the night.
Miraculously the severe bleeding stopped the next day, till date I have never experienced such ailment again. Nature through Moringa completely took care of my "colon cancer". The miracle of nature you can call it and you are most welcome. You can get a glass of Moringa juice, take it daily and see the wonders it will do to your system.
**OUR NATURE AS HUMANS**
As a beautiful human, I can comfortably say I am blessed with a nice nature, totally carefree and not perturbed with What life throws my path. I have a very good heart, yes I do. I would never see someone in pains and not look for ways to be of help if I can.
That being said, I can remember vividly a remarkable experience I had in my second year in the university. I was quite young, about 19yrs. I was coming back from school one faithful day and was quite close to my house.
I saw a group of people gathered in a circle with an elderly man lying in the centre. Nobody was trying to help, they all had their phones out, making a video of the dieing man. The man should be about 75/80 yrs and looked exhausted and loosing consciousness. Nobody was making any attempt to help him. Bad nature right?
I was worried, didn't know what to do as my conscious and nature would not allow me leave him without trying to help. Like I said, I was quite young and confused as to What to do. I went in to meet him and tried carrying him up. Luckily for me a more Matured man joined me in helping him up. We asked him what is wrong but he was not coherent.
After much pressure he gave us an address in town. We got a cab and decided to take him to the address. My experience was not funny at all. We drove all around the town and couldn't locate the addresses he gave us. They don't exist!
After about 4 hrs driving round town someone we met in one of the addresses advice us to take him to an adult care home. We took him there and left him. I was not happy leaving him but there was nothing I could do.
The next day after my exams I hurried to the the adult care home but was told his children got to know about his predicament and came and picked him up. I was quite happy I was able to save him the previous day. Beautiful art of nature you might say.
I am a big believer of making nature beautiful,whether it be plants, animal, our weather etc or our own inherent character. It is part of our life and part of our day to day living.
Hope you enjoyed my entry for the prompt #8 : NATURE initiated by @JonicaBradley
You can be part of the challenge too. Thanks for reading.
Lights, Camera, Action : And So My Journey Here Begins
To even think I got to know about read cash seven months ago but have not written even one article...... well, I think that's a story for another day.
I have always wanted to own my own personal blog. I dreamt of it as a young man while in school. My high school days were filled with different aspect of writings. Prose, poetry and even dramas. Then If you add love letters to the mix(who didn't write a love letter? ) , then you have a complete one, lol.
Writing about one thing or the other has always been a delight for me. I had won a lot of essay and poetry competitions at that time. Funny enough as I grew older I seem to have lost the passion and zeal to write. Sad to say I lost the passion for my first love.
I had actually opened an account around December, that's about 7 months now. To say I have not even as much as written a short post is to say it as it is. At a point it seemed as if the account has been marked spam due to lack of use. I was confused. When I saw its allowed to have up to 2 accounts I had to jump at it again. So I created a new account, this time determined to see it through.
So today I start a new journey here on read cash, a new dawn for me it is. Let's see if we can recreate what we had while growing up. I see the style of writing now has somewhat changed a bit, we will learn on it.
By the way I am Ugomarcel, friends call me the crypto Prince, maybe you should too, lol. A crazy dreamer and big believer that things can only get better . Studied business management, but not using it to survive in this jungle called life, but then you know how it goes .
I am an avid reader, as in, I read a lot. I do write, though not as much as I would love to. I really hope things goes from zero to hundred for me here asper writing great contents.
I have a very deep heart, if you know what I mean. I Can talk comfortably on a wide range of subjects( off course I am not an encyclopedia) . Love sharing my personal experiences, as I have experienced quite a lot in life (who has not? ).
I have a lot, I mean a lot to share guys. You might find some quite funny and somewhat unbelievable. Like if I tell you I am richer than Elon, well.... not quite.
Being in crypto since 2017, 2010 if you add my not too happy experience with bitcoin. So I know much about crypto as that is part of what I do actively apart from my work. Would love to share the little I know here.
My imagination can run wild and crazy at times, so can my stories and articles be too.
I believe so much in fairness and humanity. I believe in the mantra "love your neighbour as your self". So naturally Most of my write ups will reflect on that aspect of me. This is already looking like fun I tell you.
Really looking forward to this new and exciting journey with you guys and much more willing to learn from your various experiences . Just point me in the direction to follow and trust me we will follow. Thanks for reading guys. Appreciate it. So, Let the journey begin.
@Ugomarcel
