Is there more to crypto than making money? – I joined Crypto for the money, but discovered more

Chibuzor is a college student looking for ways to invest money without being burdened with the traditional way of investing. During the eight months of his cryptocurrency journey, he believes there is more to crypto than just making money. So he became for the future it brings. In this interview, he tells how he started trading, what he discovered and his cryptocurrencies at the moment.

How did your journey to crypto begin?

I started in September last year. I had a friend who always talked about it. One day I went to him and told him I wanted to learn about it. So he introduced me to the capital community nine23. Then I traded De-Fi tokens, because it’s the rave of the moment. That was the first thing I started with, before game tokens, NFTs and many more. I invested in many new projects, but did research before investing in any. Sometimes it worked and other times it didn’t. Instead of losing, I earned more the first few months I started. Even though I made some mistakes, it allowed me to reduce the risk of having a community.

Aside from being in a community, were there other resources you learned from?

Yes. I watched crypto Youtube channels. All I had to do was choose the channels that really taught the basics. Although there are many channels that did not do the stupid thing, it helped me on the journey to be in a community. I started reading a lot too, not just regular books but long whitepapers, roadmaps, articles, newsletters and using Reddit. I basically surfed the internet for resources.

Fascinating. What sparked your curiosity?

What got me interested was that I was looking for ways to invest money. I found other alternatives, but they all required me to be present. And because of school, I wanted to do something that could make me money without leaving my house while I still have time for myself. I felt that crypto was the best option. So I started learning about it and discovered that it was more than just making money from it. In my discovery, I learned that it was a bigger picture.

What did you discover?

When I came in, I learned that there were so many parts of it, web3 in general. What they are trying to do with it is to build a system that is decentralized and not controlled by anyone. And if you think about it, it’s pretty cool.

Running finance in the usual way comes with many processes, but with crypto everything is simple and straightforward. I can even sit in my house and buy shares from companies I like or I think are doing well. In web3, companies are not owned by a single person, but by a community. It is the purpose of the decentralized autonomous organization (DAOs) that is an effective way to manage, own and decide what happens to the companies. When you have a share, it means that you have the power to vote on what happens to the company. As if I’m trying to build a gaming company, I do not have to start looking for VCs, I just wanted to open a DAO and people who are interested in my gaming company can invest, get ownership and make money. But the process is not the same in Web2.

Hmm .. Interesting ..

Most people think crypto is just about making money. Who just make money and go. To me, I think it’s a kind of future, and most people do not see it yet. They think it’s a ponzi, but it’s bigger than that. I think over the next ten years with crypto we can become completely cashless and start using it for daily purchases. It is already creeping in as a payment mode for some business transactions. Maybe we even have cryptocurrencies. Lol!

Do you currently have any cryptocurrencies?

I’m not where I want to be now. This is because I want to be at the stage where I have the liquidity to invest in everything I want. I will not be unable to invest in projects because I am more focused on making money than losing money. I want to be comfortable enough to invest whether the projects go well or not. Right now I’m just trying to earn enough.

How do you manage your risk without having enough liquidity?

Sometimes you have to do things on pulse and trust your gut feeling. But I also invest money I’m just comfortable losing. Know when to make a profit. No matter how well you think the project you have invested in is doing, always make a profit. Just do not be greedy.

What are you trading in now?

NFTs. It feels like it’s a safer way to get people into the world of cryptocurrency. They are not simple, but they are the least complicated in Web3. It’s popular at the moment, and crypto is about what gets the most attention. There was a time when shitcoins had more attention. Now I am focused on NFTs until the attention shifts and I have the liquidity to invest in other projects. However, I see that it disrupts the traditional social paradigm and transactions in the meta-verse. It can even be a means of identification. Or companies that make NFTs instead of tokens or shares, as a way for one to get a certain percentage of the company. Lol! It is here to stay.

What has crypto trading taught you?

I learned more about economics in one week than I would have done in school. I did not know how interest rate composition worked. Something I must have taken courses for and spent years at school for.

How financially happy are you?

Hahhahaha. I can afford most things I want. But I’m not quite there yet, but the future looks promising. I look forward to surpassing the goals I have set.

Explain crypto to me as if I were 10 years old

Hahahha. I would say that there is virtual money you can not see or touch, but you can spend.

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