Welcome to our latest edition of the Crypto Insights newsletter. In this issue, we dive into the insights shared by Michael Cryptocito, known in the crypto community as the Cosmos and AirDrop Staking King, during his recent appearance on the 100X show hosted by Ian Balina.
Cryptocito’s journey in the crypto world began in early 2017, driven by a deep interest in understanding the workings of central banks and the transformative potential of Bitcoin. His non-technical background didn’t hinder him; instead, it fueled his dedication to grasping the basics of cryptocurrency and blockchain technology. This foundational knowledge, Cryptocito believes, is crucial for anyone venturing into the crypto space.
Navigating through two crypto winters, Cryptocito emphasized the importance of being proactive in the crypto community – not just as an investor but also as a content creator or validator operator. This approach led him to discover and subsequently immerse himself in the Cosmos ecosystem, captivated by its seamless interoperability and active community philosophy.
One of Cryptocito’s significant contributions to the Cosmos ecosystem is establishing the Cosmoverse conference, filling a notable gap in the Cosmos community events. He also founded Stakecito, a validator operation now managing assets across numerous mainnets and testnets globally.
Focusing on the staking aspect, Cryptocito shared insights on the validator’s perspective in the Cosmos ecosystem. He explained the initial challenges, operational costs, and the importance of understanding the delegated proof-of-stake mechanism. From a delegator’s viewpoint, he highlighted strategies for optimizing cash flow and the importance of choosing projects and validators wisely.
AirDrops in the Cosmos ecosystem have been lucrative for many, with some fetching significant returns. Cryptocito advised maintaining self-custody and actively engaging in the community to maximize these opportunities.
When comparing Cosmos to other Layer 1 platforms like Ethereum and Polkadot, Cryptocito expressed a bullish outlook, especially for Cosmos. He noted the challenge in directly investing in the Cosmos ecosystem due to its diverse nature, suggesting a more nuanced approach to gaining exposure across sectors like DeFi, NFTs, and liquid staking.
For those seeking high-risk, high-reward opportunities in Cosmos, Cryptocito recommended keeping an eye on projects like StarGaze, Sommelier, and Agoric. Each project represents different facets of the Cosmos ecosystem, from NFTs to DeFi integrations and smart contract platforms.
In closing, Cryptocito encouraged readers to explore the Cosmos ecosystem further, highlighting resources like mapofzones.com for tracking IBC economy creation and user activity. His final words emphasized the vibrancy and potential of Cosmos, inviting readers to engage with the ecosystem through channels like YouTube Twitter, and events like Cosmoverse.
As always, we aim to provide insightful, unbiased information in the dynamic world of cryptocurrency. Stay tuned for more updates and deep dives in our next issue. Remember, in crypto, the moon isn’t the limit but a stepping stone to beyond!
