I’ll try not to shill any specific coins other than the one that powers the entire ecosystem I’ve been wondering around in and exploring these past few days…..Algorand
Been allocating a steady amount of my monthly DCA into ALGO and in the past three days, I figured I would take some of the interest accrued from the past year or two (by simply holding the coin on Coinbase) and throw it back into the new and developing projects currently being formed on the ALGO blockchain.
At first I was super confused and worried about how technical it would all be, but thanks to the incredibly helpful Algorand community (and a couple of obvious but helpful shills), I was able to set up a MyAlgo wallet, get on Tinyman decentralized exchange and start trading, providing liquidity and checking out the analytics of every new coin being minted/traded.
I had no idea so much was going on in there!
I had seen a lot of posts about it before but I genuinely thought it was all complicated and scary when in fact, it’s been designed in such a user-friendly way that even I am able to navigate around it confidently after ‘playing around’ in there for a few hours over a couple of days. I’m a certified technophobe!!
Thanks to getting involved in the ALGO ASAs:
I now own my first ever NFT – Given to me for providing liquidity to a feline-based coin. I’ve been a LP for the first time ever and ‘earned’ $112 overnight while I slept like a baby. I’ve had my first experience interacting with a decentralized exchange. I keep my precious ALGO in an official wallet rather than on Coinbase. My confidence in trying out new things within the crypto space has gone through the roof. I’m up almost $900 in two days over various projects, already withdrawn my initial capital and now I’m making bank on what is effectively play-money.
YES, THERE ARE OTHER BLOCKCHAINS….
…..and you’re more than welcome to explain why they are better than ALGO in the comments. Please keep it civil and then you might just get new people looking into it, like me. I’m aware I don’t know much about the inner working and projects on a lot of these chains and I’m genuinely enjoying the learning experience.
I’m just here to let other, less technical-minded folks like me know that it is possible to explore the Algorand blockchain ecosystem and ASAs with ease and without worry of messing everything up.
It was so easy that I had to have the community confirm I had done everything correctly, as it felt too easy!! Playing around in there costs fractions of a fraction of a penny, no steep fees and the transactions never take more than a second or two.
It really is an eye-opener and it’s been the most fun I’ve had in cypto for the past 4 years!!
Be cautious throwing in anything but funny-money until you have really researched a project but dip your toes in and have a little look-see, it’s easy as can be and incredibly interesting to dive a little deeper.
Nobody has paid me to write this and I will receive nothing but upvotes, downvotes, love, hate for writing it….maybe even some scammers and shillers in my DMs if I’m lucky. Stay safe out there!!!