Article contributed by CryptoCookied
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This article is more of a personal letter towards you, the reader. I hope that my sincerity comes through and reaches you during this time. I’ve had to take some time away from writing articles here because I wanted to deeply think, study, re-evaluate and determine the best way to provide useful content during this bear market.
Disclaimer: I am not sponsored or affiliated with any of the projects/companies mentioned in this article. This is not financial advice, the information in this article is for educational purposes only. I disclaim any liability or loss incurred by any person who acts on the information, ideas, or strategies discussed in my articles. Do your own research.
We All Are Together in This
Those who have been reading my articles for a long time are probably well aware that I feel very strongly about seeking passive income through the use of cryptocurrencies. I believe in the original intention of crypto, which was to provide an alternative to the current financial system.
I do not get paid to push projects and I am not sponsored.
I began writing these articles because I was exhausted by the number of unauthentic influencer campaigns loudly stating “BUY THIS TOKEN/NFT”. It is a form of taking advantage of those who might be less informed. There are right and wrong ways to share with people about crypto, and I believe that starts with an honest dialogue about the pros and cons.
I am a writer, not a marketer. I write things that I feel are important for the crypto-community to know about. I discuss only the projects in which I am invested or which I have vetted personally.
I wrote about Anchorprotocol in several of my articles and mentioned UST as a stable coin that I had invested in. I think a great many of us who did invest in this protocol were deeply hurt and frustrated by what happened with it in recent events.
I knew that all investments come with and at a risk, but I thought we would have more warning signs and that people would have more time to get out of a sinking ship.
I want to offer my heartfelt apology to any who have lost funds or feel a sense of loss across all markets. Know that you are not alone. We are all on a similar path, and we must work as one to educate ourselves, elevate one another, and find solutions.
There are more than enough articles covering why or how this happened, and too few covering what we can really do. I want to focus on recovery more than the problem.
Focusing on Fundamentals
I know these times can be trying or scary for newcomers. Most of you entered during cryptos all-time-high and this is your first true experience with what it is like when everything is down.
Take a moment to take a deep breath and understand, that this has happened before in the past. All things have highs and lows, there is no upward continuous motion without drawbacks. This is true for any market.
When things enter into a crypto winter, what I like to focus on is the fundamentals. Investing in trending tokens is out of the question for me, because it is a dangerous time to gamble on things that have no value or potential for growth in the future. But it is a great time to get good positioning on the ones I do believe in.
The Power of Web 3
This is one of the gems that make crypto and blockchains so amazing. Web3 uses blockchain technology for storing, sharing, and determining ownership of information. It takes the power away from big corporations that look to control information and wealth. Web3 has the potential to create a whole new type of economy and a more fair, democratic form of the internet where the people have governance and decision-making power.
Blockchain Technology
Blockchains are a chain of blocks that provide information. It operates like a digital ledger that offers more transparency than our current system. It gives the user the freedom to choose to place their businesses on the chain that best suits their values, wants, and desires.
Those who advocate strongly for privacy might want Secret Network and Block Wallet. Those who are interested in a blockchain that is making deals with bigger businesses might prefer Polygon Network. People who want to see innovations and affordability on a Layer 1, might prefer Fantom Network.
I love the diversity and during these times, I focus on which chains I feel have the best potential to weather these crypto winters.
To The Future
There are those out there who want to see and believe this is it for crypto. I see too much upside, and I see the future when I look at all the amazing things that can be built on these chains.
I see a world where people support businesses and businesses support people back. Where anyone, anywhere in the world can do business with another person without the currency restrictions or red tape associated with the current banking system.
I stay to advocate for that future. A world where all of us have the possibility to have financial freedom, and independence and can push for the things we want to take place. If you decide to stay on this journey, just know it’s not a path you walk by yourself. Reach out to those who are wanting to stay in the fight, educate yourself, protect yourself and remember, your mind is both your greatest tool and asset.
Stay Safe and Stay Informed.
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