By: Lou Pickney
Last updated: March 31, 2021
Here are some stories of my experiences with crypto that might be of interest, particularly for novices. I approach this as a hobby and suggest others do the same.
As always, only invest what you can afford to lose. Approach everything with skepticism and be very careful with your password security.
And when dealing with nearly anything crypto-related, remember that a little bit of patience can go a long way.
This is neither an official endorsement nor a call to action and should not be interpreted as such. This is just a collection of my experiences and thoughts in trying to make sense of the oft-complicated world of crypto.
There are many options for crypto wallets available. You won't necessarily need one right away, but they're free to set up and a good starting spot.
Here are two that I like that should be a great fit for beginners:
Coinbase is an exchange with remarkable reach. You'll find that many faucets and game-reward websites pay out there.
And why not? Because they're connected via Coinbase, it's an easy way to avoid network transfer costs.
I've made deposits, transfers, and withdrawals via Coinbase and it has worked flawlessly every time. They take a cut, so keep that in mind. But it's a valuable service.
In addition, it's very easy to earn some alt-coins there through some simple Q&A about various new crypto currencies. Most of my coin rewards were quickly turned into Ethereum via the exchange, though I did hold onto the Stellar Lumens (XLM) I earned.
Start with Coinbase and you should be good to go. But remember that it's an exchange, and it's advisable to move currency you plan to hold as an investment into a wallet where you actually control the secret keys.
One more perk: they make it rather easy to buy Ethereum with fiat, in my case USD. If you can handle online banking, you should be able to handle this.
With a desktop app and a mobile app that both function well, Exodus is both convenient and remarkably easy to use.
There's a simplicity to it that makes it especially helpful for people trying to get over the crypto learning curve.
Exodus reminds me of the iPod circa 2007, not a wide array of functions but very easy to navigate and read at a glance. It's quite wonderful in contrast with some absolutely overwhelming interfaces you run across at times in the world of crypto.
Final Autoclaim (Dutchy)
You seldom see a faucet site with such a wide array of options. It has been beneficial for me in just learning about some new crypto currency I hadn't heard of before.
Every half-hour you can roll for Dutchy (in-game currency) and the crypto coin of the month, which in March 2021 is Litecoin (LTC).
Dutchy is used for payouts made by the game in whichever coin you want from the literal dozens of offerings. I've been concentrating on Ravencoin and Tron, which both have relatively low fees for deposit in a blockchain wallet.
Some currencies have lower minimums for withdrawal that others. This site is in part why I mentioned Coinbase because with many currencies you can transfer to Coinbase without paying a charge.
Not every major currency is available on Coinbase as of this writing (e.g. no Dogecoin), but Final Autoclaim can easy transfer your Dogecoin and Ravencoin and the like to a desktop wallet.
30,000 coins is a rather steep climb to hit the minimum payout, but it's entirely doable. It's the equivalent of $3 USD, so it's not exactly a mega payday.
You'll need a crypto wallet (like Exodus) to handle Dogecoin. Otherwise it's 50,000 coins to get $5 in BTC. Those are the only two payout options as of this writing.
I hit the 30,000 coin threshold on March 15, 2021 and requested a withdrawal. Eight hours later, my dogecoin arrived as promised.
If you do nothing else, play Alien Worlds. Even with the basic intro tools they give you for free, you can earn all sorts of NFT drops.
Set up shop on a volcano lot, check in a few times a day to claim your mining results, and before long you'll be surprised at what you've gathered. And it doesn't take much of your time.
Savvy game developers are doing some cross-promotion, and that means opportunities to gather NFT drops for other games. That's part of the fun for me, seeing what is possible with blockchain gaming that never would've been a viable option before.