Decrypt: Turn from user to digital proprietor

I have been saying this and will repeat again: Increase your knowledge. Acquire expertise.
Representative image
Representative image

CHENNAI: Let me start by wishing all of us a Happy New Year!

While we were all caught up in the events of 2022, a lot happened in the crypto universe. The crypto winter kept looking bleaker by the day. Month after month we heard horror stories of giants like Terra, celsius and FX biting the dust. But look, there is reason to smile too. We have arrived after much blood, sweat, and tears. We’re still standing, holding on to our portfolio. So, it’s a moment to savour as we make fresh resolutions this year.

I have been saying this and will repeat again: Increase your knowledge. Acquire expertise. Believe cryptocurrency is here to stay. It also doesn’t wait for anyone, just like time. So, invest in learning/studying everything about cryptocurrency and all of its changing dynamics this year. Whether it be news or blogs, make a commitment to read at least one piece daily. Attend webinars or events that offer informative content. These are only a few of the activities you can engage in to stay educated and keep your mind active.

This year, I hope to see more individuals becoming knowledgeable about crypto and more projects and businesses educating their users on best procedures since too many new users have lost bitcoins and NFTs as a result of poor security methods.

Next, use your coins wisely. I don’t mean to put them on Polygon for quicker transactions or into your Starbucks card when I say “good usage.” The reference is to charitable endeavours. Profits aren’t the only goal with cryptocurrency. It can also be a means to assist someone in need or demonstrate compassion towards them.

Several charities accept cryptocurrency donations, some of them take the form of DAOs (decentralised autonomous organisations.) Support can be delivered to them directly over the blockchain. The Giving Block has a complete version of these DAO’s.

Scam after scam has sent shudders down our spine, so let’s resolve to use good security. Else, it’s difficult to justify earning additional cryptocurrency. A solid place to start is with a trustworthy wallet or crypto custody. Upgrading security measures and being more aware of potential hazards and weaknesses when doing transactions may be your resolution. Having a crypto custodian may reduce these dangers, but it is still your obligation to be aware of new crypto scams and other nefarious acts, which are regrettably a common occurrence in the industry.

Personally I have made three resolutions

*First to encourage as many people as possible to start using cryptocurrency by demonstrating to them how simple it is to gain advantages from participating in the decentralised economy. That is how I would like to shift this narrative or the mentality of the average person, especially those in less fortunate demographics.

*Second is to encourage sectors to be use the technology widely and adopt, them. They can be programmed to streamline and enable frictionless interactions between all sector in addition to being used as a form of payment.

*Finally, I wish to contribute to the creation of an open metaverse with a GDP so large that closed metaverses are forced to open, similar to how free commerce opened up the global economy: where we are actual digital proprietors instead of being designated as digital “users” any more.

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