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I love this question, that was the same question I asked when I joined Cryptocurrencies few years ago. And I was thoroughly thought on what to do before embarking on any project. It doesn't matter whether the wallet is from a open source or not. The first step to take after opening the wallet is to backup the private key immediately. In order to avoid future lost of your coins. And it must be backed up in a very secure place. Just few weeks ago, some of my friends lost their coin, because they couldn't find the private key to the account.
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Bitcoin versus Altcoins. This is just like comparing a team in the top four of the premier league to a team in the championship level. They are if different class, which should never be brought together for comparison. Yes, we all know that there are some altcoins bthat are doing do lately, but still you can compare it. Just a Bitcoin can buy millions of some altcoins if not billions self. Considering the period when Bitcoin has been in existence. 2009 till date. It's such a long time. And no altcoins has ever lived up to that. But when you look into projection, one can easily conclude that no other altcoins will be able to rise to that level where Bitcoin is sitting right now. Bitcoin against all odds has proven to be not just a stable coin, but also leading other digital currencies. With the worth of a single Bitcoin over $10,000.00. That's quite a fortune.
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This was the same thought that runs through my mind when I first considering of investing in cryptocurrencies. I was scared and at the same time wanted to take the risks. Then, I asked myself if what I'm willing to invest, is what I can actually do away with. After making some findings, I was able to come up with a good plans, with the help of some expert in the field. No doubt cryptocurrencies investment has a great return on investment. It could make you become a millionaire overnight if your investment go right. I have made quite a hundreds of dollars from altcoins. And I'm still investiting heavily till today. And I also have few people I have taught on how to invest in altcoins and to know when to invest and when not to invest. Good way to invest is to look for new projects, and conduct a check and invest the amount you can.
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When it comes to where to sell ERC20 coins, there are countless of decentralized platforms to do that. Coingecko has a list of those sites. But care must be taken on how to go about it. It will be good to know about the rules guilding each of these Exchanges, to know the rules guilding how transaction are made. Cause I'm talking from experience. I have transferred coin to a certain Exchange only to discovered after transferring that there is a minimum amount of coin that can be transferred before it will reflect on the site. My transferred coin couldn't reflect hence, I lost the coin because I couldn't check the rules and regulations. So please, before embarking on any transaction, take time to read their rules. That is very important. Don't ever forget to do that.
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I think the best way to go about it is to make a research on the so called altcoins. You don't have to go into what you have little or no knowledge about. If it's me, I will do my homework very well and also consider the risk if it's worth taking. There are some altcoins that has a record of mooning anytime, and that looks good that someone can actually invest into.
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I think what to do first is to run a check on the so called project, so that it won't end it tears for you. A critical analyze of the project. Know everything about the project before investment in it. I'm not sure if you have enough money, I would have advise you to invest a part of it, in other to reduce the percentage of your loss. Because that could be damaging. You could probably ask for help from other expert about the project. I'm sure their help will go a long way in helping you with the investment.
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This high eth fee has once fucked me up. I was to sell one of a major altcoins but I didn't have enough gas in my wallet to transfer it to the Exchange. I was pained to the bone, because the coin was doing good at that time. And one other time is how myself and my team use almost had of $150 to sell a coin of $650. Lot of other sadden experience, that made me to lost hundreds of dollars. I think the owner of the ethereum chain technology should really look into that. They should.
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$100,000 is such a urge money, personally, I won't put all my eggs in just one basket. I will divide the money into three equal parts. And invest it properly. The first part, is going to be invested in the likes of Bitcoin and other altcoins. The second part will go into forex trading, cause it less than a month, the whole money invested can be doubled. And the last part will be invested into my local business, to make it more big and bring more cash flow. It is always good to work smart. And I will be to reinvest the profits made from these investment again again.
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Fake news they said runs faster like the speed of light. That's the major reason one has to be very careful with jumping into conclusion whenever you hear any news. There was a particular time a friend called me and told me that the price of Bitcoin is dropping seriously, that it will be best if I sell my Bitcoin then in other to avoid loosing the whole money. I told him that I have to wait a bit to verify some things before doing that. Lucky for me under six hours Bitcoin picked up again. And the little loss was recovered.
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Forum name: Konflikkastil
Forum Rank: Member
Telegram username: @raphsmile
Free TON Forum username: Konflikkastil
TON Surf Address: 0:2ce286dd6e71088bcc770c1eed3801229d33ae82f62ca9f471c9e9b61e19afcf
Wear Appropriate Signature: Y
Wear Personal Text: Y
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Proof of Joined
Bitcointalk username: Kinflikkastil
Campaign to Apply: Article
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In my many years of trading altcoins, I can can categorically say ETH has a large influence over TRX due to the number of project built on the ETH Blockchain system. Just if recent I started hearing of TRX. But lot of projects are making use of the the TRX Blockchain system. Thats really a good development, because at the end, what we want is for the cryptocurrencies system to be everywhere. But the ETH has a large communities than TRX.
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Even with the present situation of things in the crypto market, you can just advise to stay off the crypto investment now. There are good altcoins that are doing so well. One just have to be very careful with dealing with those altcoins. They can really disappoint, an if that happens, that will be a total lost I yiur investment. I was to sell some altcoin two days ago, but due to ImToken with high gas fee, I was unable to do that, and till the coin deep again. I just have to wait till when the comes up again. It's a good coin though. So putting all altcoins inine basket is really not a good advise.
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Actually, have been thinking about this for a very long time now. We have seen lots of fake projects with stupid ico that later turned to rubbish later. But have come across some projects these days that are doing so well, most of them have moon now. They are perfectly doing well after they completed their ico. Lack of good investors sometimes affect the project too.
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The new people coming to invest in cryptocurrencies should be warn ahead, considering the risk and danger in investing in cryptocurrencies. Cause if care is not taken, you can lost the majory part of your investment. Is like learning forex trading, there are lot of things to learn. And please, don't ever invest in any cryptocurrencies you don't know much about. Don't ever try it.
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We all have different experience when it to comes to this issue, why people got scammed easily. There are as a particular time I worked for almost two months, all in the name of trying to mine Bitcoin from a site like that. I had little knowledge of Bitcoin then. All I knew ay thay time was that, it's an online stuff called digital money. I login every single day. I even refer some of my friends to join. But we all got to know that it was a scam. The site is run by some guys, and they were looking for traffic in their site. That's a stupid one you know. But what can people not to have have money.
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I think it will be very hard to detect fake projects, because of the guys running the project are so smart that's they will make sure they do everything to cover any trace of been noticed. But one way or the other, if you have been inthis game for awhile, you will probably be able to spot one if you see it. I once fell too, but I learnt my lessons. And I have been very careful in other not to waste time and resources of fake projects again. They are really a waste of time. The experience is not good at all.
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Can someone make it trading only altcoins?
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