Level 1 (Noob) - you are suspicious because isn’t crypto like the Wild Wild West? Still, you jump on the bandwagon because even your neighbour’s elderly mother talks non-stop about Bitcoin. You take it easy though - free crypto from Coinbase’s learn and earn, low-commitment games on a trending play-to-earn app, a faucet site. You have trouble converting the value of your earned cryptocurrencies to your local currency.
Level 2 (Beginner) - Commitment phobia no more! You have assimilated into the crypto world and think it’s time to dip your toes in. So after your DYOR, you set up an account with one (or more of) crypto exchange and buy crypto with your own money! You leave your coins in the exchange, too scared to do anything else. You hear a lot about this community called r/cryptocurrency. Something about its crypto called Moons that is worth some money. You get the requisite 50 karma and make your debut on this sub.
Level 3 (Intermediate) - this r/cryptocurrency sub is kinda strange. The people there push something, only to backpedal and say it’s not financial advice. They say to trust no one but sprinkle their comments with “I trust you bro”. Still there is enough valuable information that you keep refreshing the app. You get yourself a cold wallet because you absorb their key message: not your keys, not your coins. Your appetite grows larger. You decide to try out some yield farms and park money in liquidity mining. DeFi protocols are your new best friend.
Level 4 (Degen) - You have totally been sucked into the rabbit hole. Protocols offering astronomical yields like 1000% no longer scare you. In fact, you laugh out loud at these rates, confident that you can pull in and out before any rug pull begins. You snort at yield farming, embracing leveraged yield farming. You toy around with decentralised loans. You are no longer looking at blockchains; instead, you are examining interoperability between blockchains. You shake your head at those noobs who use faucets, conveniently forgetting that you were one of them once.
Originally posted on r/cryptocurrency