Previously, we looked at the right crypto mindset for beginners, as the right mindset in crypto will make your crypto journey a productive one.
So the question is, after the right crypto mindset, what next?
The right crypto mindset is to be gotten before venturing into crypto. This means that the right crypto mindset is a stepping stone and not an ending point.
After the right crypto mindset, what next?
After the right crypto mindset, you have to look at the size of your capital to know what next.
Accessing capital size
The size of your capital will greatly determine your venture power and venture direction. Fortunately, even if you don’t have capital you can still earn in the crypto space, as the space has lots of possibilities and opportunities.
So let’s go on to breaking down the capital power.
Starting without capital
Starting your crypto journey without capital is possible but it’s not a bed of roses. If you wish to start without capital, you have to do the learning a lot.
A lot of cryptocurrency projects always start their project with airdrops, which is literally a giveaway of a few of the coins as a promotional activity.
The goal of airdrops is for awareness purposes, as cryptocurrencies soar high with better awareness. That is why great projects offer airdrops. It’s funny that some people say airdrops are not real. Although the issue of fake airdrops is making crypto newbies skeptical about partaking in airdrops.
You can start your journey with airdrops since you lack capital.
There are many ways in discovering useful and legit airdrops, and they are shown below;
How to determine legit airdrops
- Check renowned sites for airdrops: Sites like coinmarketcap and airdrops.io are used to confirm legit airdrops in the crypto space, as they scrutinize airdrop projects before posting on their official sites.
- Legit airdrops will never ask for private keys only public addresses: You can easily know a scam airdrop project by the requirements. Once the platform requests your private keys, it’s a red flag.
- Legit airdrops are really engaging: legit airdrops are not easy to start and end, and some are really engaging with social media engagements.
- Legit airdrops often use google forms for registrations: We have noticed that the majority of legit airdrops make use of google forms. It doesn’t mean that any airdrop project that utilizes google Forms for user registration is legit.
- Legit airdrops must have announcing departments(social media): Legit airdrops will always have an active social media channel(often telegram). In that channel, you can engage them with questions to clear your doubts. With questions, you can detect any suspicious movement with an airdrop project.
- Legit airdrops are startup projects and not for popular coins: Any popular coin can never and will never bring an airdrop project. So if you start seeing an old coin’s airdrop project. It is a scam because there is no need for an airdrop when a coin has gained its ground. EOS airdrop was seen moving online and some people ventured into it to regret it later.
- Legit airdrops will have a locking mechanism: Because of the massive coins to be given out to users, the gains of airdrops may look unrealistic. That is why airdrop developers created a mechanism for the disbursement of airdrops, where about 20 percent of airdrops will be given monthly. This shows how sustainable the coin will be because giving users the opportunity to withdraw all airdrop coins at a time, will often cause a huge dump on the project.
These are the few ways to detect legit airdrops, you can research (DYOR) more on them.
Your airdrop choices should be made skeptically following the high rate of airdrop scams in the crypto space.
Why airdrop scams?
A platform can decide to scam crypto enthusiasts for the following reasons;
- For money making: Airdrops that have been sent to users’ accounts will need an unlocking mechanism by the fraudulent developers. In the unlocking process, users might be requested to unlock with a little sum of USDT. In this way, millions of funds can be gotten as many scammed people will fall by unlocking an illusion coin. Also, your wallet can be hacked through a coded smart contract unlocking mechanism. Through smart contracts, people blindly authorize transactions, just as we blindly accept terms and conditions. With this, your owned coins can be sent away by approving unverified transactions. There is a case of an airdrop that required users to connect their wallets through their private keys. Unfortunately, many newbies fell for it and lost their capital.
Accumulating airdrops over and over again can fetch you the capital you need to venture fully into crypto.
Crypto teaching and learning
Without capital you can learn and study crypto properly, to be able to teach people cryptocurrency.
The complexities in crypto give rise to the need for crypto education. There are so many audiences available for crypto education. With this, there are opportunities where people can use their crypto knowledge to teach, write articles, make crypto presentations, and seminars, and obviously earn from them.
Crypto writing is the act of using words and images to convey crypto knowledge to an available audience. In this process, capital is not really needed. You need to familiarize yourself with the crypto space to be able to pass information to people.
Crypto teaching is also lucrative and more practical than crypto writing. Crypto teaching is the act of passing crypto information verbally. In this case, crypto seminars and presentations can be done as a medium of passing a better crypto picture to your audience.
In both ways, a high level of competency in the crypto space is necessary and can be gotten without plenty of capital.
The above is possible when you are fully rooted in the nitty-gritty of cryptocurrency and blockchain technology.
Since we have different crypto blogs and media, more crypto jobs will be brought to the crypto space.
In our next article, we would discuss the crypto path with capital, where a list of crypto lucrative opportunities will be dropped.
Continue to be active, as we get you enlightened with fascinating articles.
Conclusion
Understanding cryptocurrency from scratch will make you and not mar you. The goal of crypto is to create freedom by bringing a lot of opportunities to the masses. It will be advisable to understand crypto before venturing, as the learning stage of crypto should never be skipped.