A Crypto Educator, Trader, Copywriter and Blog Content Creator. I've helped over 1400 Beginners get started the right way in the Crypto/Web3 industry. Follow me
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Some common types include Decentralized Finance (called DeFi) apps that are used for lending, borrowing, and trading cryptocurrencies.
You can literally borrow/lend money on these DApps (Decentralized Applications) like you used to do in your local/traditional banks and even do more.
Examples of these are Jupiter Exchange on the Solana Blockchain, Pancakeswap on the Binance Chain and Uniswap on the Ethereum chain etc.
Another Web3 Application is the Decentralized Autonomous organizations (DAOs) for community governance.
This is majorly used to get general views or votes of a community of people supporting a web3 project. But…
Those participants must be HODLing the native token of that project to be able to participate in the voting process. And…
For participating in that DAO, you stand a chance to be rewarded by the project as well most times.
We also have other Web3 Apps like Decentralized social media platforms where you interact with other users and get rewarded in either the project token or others who partner with the social apps.
Examples of these web3 Social Apps include Phaver app, DSCVR, Farcaster, Orbs and more that reward their users for using their platforms.
These web3 social apps are exactly the same way you use your Web2 traditional apps like Twitter, LinkedIn or Facebook. But…
The main difference here is that, on Web3, you have:
- Total Control on your data - Self Privacy - Ability to own your content & monetize it. - And lots more...
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When I started Crypto, I was naive.. Just like every Beginner would be. It was during the bull 🐂 run.
Everything was rozy! And guess what! Money was flowing everywhere!😁 If I put $10 in any coin, it would turn $100+!
In fact, I put $50 in some Solana projects… It turned out to be almost $2000. But… Nobody told me what was going on!
I didn't know there was something called… The BULL ⬆️ and the BEAR ⬇️ season.
We were just making money & enjoying life! All of a sudden, the bear market came. We thought it was going to be for a while but, NO! Everything was going down! The more we thought it would come up, the more it dipped!
And the bottom became the top! Because.. The dip was getting deeper & deeper fren!
Before you continue… Tap on my profile icon and follow me then share this post to help me get to 1K followers to support my work. Thank you fren.💙💙
Here's the lesson I would tell my new self: ✔️ Make money in Crypto and pull it out. ✔️ Invest the profits in PHYSICAL assets ✔️ Buy lands, buy houses & open more real businesses ✔️ Spend that money and enjoy your life. ✔️ ️Do more of Charity and help others.
It is not yet your profits until you have taken it out and turn it into physical assets or use it for a good cause. - Mike Akerele
What I won't do as a Crypto Beginner: ❎ I won't listen to Influencers that Shill projects! ❎ I won't invest more than I can afford to lose ❎ I won't trade without using STOP LOSS! ❎ I will stick to SPOT trading as a beginner ❎ I won't do FUTURES Contracts till I master Spot Trading.
BONUS: ✔️ I will seek the mentorship of a Crypto expert who has been in the industry for a while and can guide me into it.
❎ I won't go ahead to begin taking trades with my real money when I can do paper trading and trade with testing money which is not my real money.
Paper trading means you trading without your real money but with the same market simulation and features.
Which of these lessons would you not forget when you're starting your Crypto journey?
Or which other lessons can you add? Leave it for me in the comment for others to also learn from you.
Mentorship is the only easy path that can help save you from losing money as you learn from the guide & experiences of a Crypto mentor as a beginner - Get it. - Mike Akerele
PS: We're still in the bear season, and this gives you an opportunity to discover how Crypto is done and accumulate more Cryptos now so you can turn into Multi- Millionaires during the Bull season coming up ahead.
PPS: Like & Share this post so it can help others. 𝑭𝒊𝒓𝒔𝒕 𝒕𝒊𝒎𝒆 𝒔𝒆𝒆𝒊𝒏𝒈 𝒎𝒚 𝒄𝒐𝒏𝒕𝒆𝒏𝒕? 𝑻𝒉𝒆𝒏 𝑭𝑶𝑳𝑳𝑶𝑾 𝒎𝒆