How to turn quarantine into an opportunity to expand and diversify your crypto experience? We suggest you add these 6 crypto activities to your agenda.
TABLE OF CONTENTS
Crypto Activity 1: Self-Education
It’s no secret that the average cryptocurrency user lacks knowledge about how digital money and blockchain work. So, if you spend some time exploring these topics, it will give you a big advantage over a lot of people. Ready to upgrade yourself? We have handpicked some crypto activities for making the process more interesting.
- Watch educational videos on YouTube. There are many channels created by blockchain and crypto experts. Their videos allow visual learners to understand many complicated things in a matter of minutes.
- Listen to crypto-related podcasts. Some good examples of this genre are Unchained by Laura Shin, What Bitcoin Did by Peter McCormack, The Crypto Street Podcast, and some others. They give you a chance to listen to many exclusive interviews with blockchain influencers, developers, financial experts, investors, and authors.
- Read articles that explain how the blockchain tech and cryptocurrency function. No need to go far — in the Exscudo blog you will find many guides making things clear for beginners.
- Read White papers of the crypto projects you are interested in. You will know more about the benefits, perspectives, and technical details of their coins and understand which one is worth investing in.
Crypto Activity 2: Join a Community
One of the best ways to do it is to join a crypto forum or community, where you can ask a question, discuss urgent issues with more seasoned users, and share your own knowledge and experience.
This iconic forum was created by Satoshi Nakamoto back in 2008. It supports multiple languages and has over 1,700,000 members. As the name suggests, Bitcointalk focuses on the first cryptocurrency, but you can discuss other coins, too.
This forum emerged in 2013. Here you can discuss any issues related to cryptocurrencies and ICOs. There are over 70,000 participants and almost 400,000 posts that may be very helpful for new users.
This website is one of the hubs of crypto activity. Many coin developers have started their subreddits here. Also, you can find a lot of boards dedicated to cryptocurrency trading, investing, development, etc.
Crypto Activity 3: Analyze Your Crypto Portfolio
Use your free time to summarize your transactions in order to understand what to do with your crypto and fiat savings. Due to this COVID-19 situation, many coins have become more volatile than before. So, it would be wise to reevaluate the related risks and make some adjustments to your investment strategy. It’s especially important for professional traders who need to maximize their gains and minimize their losses.
It’s a bad time for listening to your guts. Instead, try to review the market behavior and identify some patterns. For information, rely on the top crypto communities, statistical data, and predictions from the industry pros. It will increase your awareness of what is happening on the market and what to expect in the nearest future.
Crypto Activity 4: Test New Trading Strategies
These days, few traders are ready to risk real assets just to expand their experience. Therefore, you have two options — to wait until things go back to normal or try new strategies in an exchange sandbox.
Some platforms offer simulators to help you sharpen your trading skills with zero risks. In such an environment, you operate with demo coins. It helps you get familiar with the market and test the functions of the fully-fledged exchange.
For instance, the Exscudo Exchange provides a demo version, designed with both newbies and pros in mind. Here you can select and test-drive the best strategies for real-life trading. If you are wondering how this thing works, sign up for a free demo account here.
Crypto Activity 5: Learn How to Use Crypto For Payments
While many people prefer to see cryptocurrencies as an investment or trading tool, they were created as a means of payment. The original idea behind digital money was to make transfers faster, easier, and cheaper. Now, when the borders are closed, we should start using digital currencies for borderless payments.
Explore different payment apps to see how they can help you to send and receive money. By the way, some transfers may be free if you move funds within the same ecosystem. Here are our versions of the top 5 BTC and ETH wallets but the lists may vary depending on your preferences.
Try these 5 crypto activities to make your self-isolation more productive and also enjoyable!