NO, not the same: I am participating: doing it now I have participated: doing it from the past to now, perhaps still going on, but mostly done
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Grammar GeekTo be completely honest, I don't findGG, I wondered myself a bit, so I asked someone else to post in another grammar
"This is the first time I am participating"
while the event it taking place simply doesn't sound natural to me.
I would use
"... I have participated"
in that context.