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I've been around the crypto space for about four years. It all started with airdrop farming. In some cases, I had to undertake some social activities to earn new tokens. Some of the tokens have been in the wallet for the past three years, yet have not become anything tangible. In other cases, I had to buy the tokens at a smaller price ahead of the project launch. I made some profits and losses as well.
Within these years of being around crypto, I've had the popular advice that it's good to earn my first crypto rather than buy it and I've shared the same with some. Interestingly, last week, one of my friends I invited to join Hive told me about a crypto project she's been convinced to buy. On reiterating the advice, she queried that I've not justified why she should earn her first crypto rather than buy. This is the motivation for this post and I hope she'll read too.
Why You Should Earn Your First Crypto Rather Than Buying It
The journey of acquiring your first digital coins can be as rewarding as the coins themselves. While buying cryptocurrency may seem like the quickest and easiest way to get started, earning your first crypto can provide a much more rewarding and sustainable experience. Here are some reasons why earning your first crypto is a better approach:
1. A deeper understanding of Technology
Earning crypto requires you to learn about the underlying technology, blockchain, and the various use cases. Whether it's mining, staking, or social activities, you gain practical knowledge of how cryptocurrencies operate beyond the surface level. This knowledge will help you make informed decisions and appreciate the value of your crypto assets.
2. Hands-On Learning
Learning on the job has always been a great module. Earning crypto involves actively engaging with the ecosystem. This hands-on experience teaches you about wallet management, security practices, and the nuances of different blockchain networks. Using hashed keys is not tenable in the web2 world. I know that if I started with buying crypto, perhaps I would have lost my keys and all. I know of friends who lost their keys and can't access their funds. These skills would be invaluable for anyone interested in the crypto space.
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3. Building a Network and Community Engagement
Participating in crypto activities like socializing, mining, or contributing to blockchain projects connects you with a diverse community of enthusiasts, developers, and entrepreneurs. I've been blessed to meet with like minds here on Hive. These connections can lead to valuable networking opportunities and future collaborations.
Moreover, earning crypto often involves participating in online communities, forums, and social media platforms. This engagement helps you connect with like-minded individuals, stay updated on market trends, and learn from experienced users while you also share your experiences with new users.
4. Appreciation for value
Earning crypto, you understand the effort and time it takes to acquire it. This appreciation for value helps you make better financial decisions. This is not so with a user that starts with buying crypto, they only base their profits on speculations not on valued use cases. Beyond that, earning your first crypto gives you a sense of pride and accomplishment, knowing that you've worked hard to achieve your goal.
5. Financial discipline
This, I think is one of the most essential purposes of earning your first crypto. Earning crypto teaches you the importance of patience, discipline, and long-term thinking. These skills are essential for making smart financial decisions and avoiding impulsive purchases. For example, earning your first crypto on Hive will have you wait for 7 days before taking withdrawals. That is a lot of virtue being built.
6. Lesser risk
The crypto world is very volatile., but knowing what to do and how would reduce the risk. Earning crypto would reduce the risk of investing in something you don't fully understand. By learning first and perhaps engaging, a new user would be better equipped to make informed decisions and avoid costly mistakes. It is cheaper to earn than buy your first crypto.
Many would argue that buying cryptocurrency is a convenient option, earning your first crypto offers a richer and more educational experience as well as is more sustainable. By taking the time to learn, participate, and earn your crypto, you'll gain a deeper understanding of the technology, appreciate the value of your assets, and develop essential skills for long-term success in the crypto space. Remember, you can start buying after you've earned your first. By then, you would have known the basics that would guide your crypto-buying decisions. Start earning your first digital assets today.
Thank you for reading!!!
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Yeehaw! This here blog post is as exciting as a wild bronco ride! It's mighty fine to see folks like you diving deep into the crypto world and sharing your experiences to help others. Keep spreading them cowboy wisdom and encouraging your pals to earn their first crypto, it's the cowboy way to go!
Thank you for stopping by and for those encouraging words. I leaped on the shoulders of those who were ahead, I can't hold back sharing my experiences to help others.
Keep on ridin', pardner! Your trailblazin' spirit lights the way for others. Can't wait to see where your next adventure leads!
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Great thoughts and tips shared there. Every new participant in thr crypto sector should always understand this.
Yeah, they should, it makes things easier for them. Thank you for reading.
These points you raised are very crucial. Thank you for sharing.
Thank you for reading, I appreciate.