Instead of lamenting, making noises and regretting, you should take some cautious measures to avoid scam projects. In general, bounty hunters get attracted towards the bounty campaigns offering a big size of bounty pools and (fake) promises made by the project just in a bid to attract as many investors and bounty hunters. But we should carefully research before joining any bounty project.
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First of all, I rarely invest in cryptocurrency. What I do is just bounty campaigns from which I will get some free tokens. So far, I have collected many bounty tokens worth only a few dollars. But in case, I am to invest in coins, I do research thoroughly beforehand. I look at project team, its whitepaper, website and road-map as well in a bid to escape being scammed.
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Yes indeed, there are many ways found by scammers to scam people in the crypto space. One of them is the one you have stated here. Basically, we, all bounty hunters, traders and investors, should be aware enough so as to avoid being scammed under any pretext. We as bounty hunters must research to a greater extent before promoting a bounty campaign.
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Only hopes make and encourage me to join bounty campaigns. So far I have joined over two dozens bounty campaigns, but got nothing except for only around $ 300 worth of tokens. Some of the bounty campaigns turned out to be a scam, while others did not list on any exchange although they distributed tokens. This is the sad story of mine as a bounty hunter.
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I do not think any stablecoin would replace bitcoin anyway. Bitcoin has made its impact in the entire crypto space so much that people and any other business outlets are eager to use bitcoin even just for their publicity, apart from its usage like a method of payment. Some business hubs are allowing payments in bitcoin just for their publicity as people are taking interest in bitcoin.
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Bad, very very bad idea. Why did you sell your house just to purchase cryptocurrency? Now it happened, and what you can do now is sell all your altcoins and buy back another house as cryptocurrency is risky. You can invest in cryptocurrency whenever you can afford it. Otherwise, you should not. If you want to involve in cryptocurrency, you can start as a bounty hunter.
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In the name of luring investors, bounty projects often give high degrees of discount ranging from 40 percent to 80 percent. But ultimately this high degree of discount backs fire in the end. I think it is bad practice to provide high degree of discount on the purchase of coins. What happen when the coin that has given high degree of discount is its price falls to almost zero when exchange listing.
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To some extent, bounty hunters are blamed for whatever scam crypto projects are taking advantage by cheating investors and bounty hunters. Bounty hunters blindly support and promote scam projects. They rush to work for any project offering a high volume of bounty pool or any other lucrative promises without researching and looking at the road map, whitepaper and concept of the project.
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The number of bitcoin campaigns has decreased over time, but price of bitcoin has increased as compared to altcoins. Nothing important happened except the number of bounty campaigns has decreased significantly. One can get hardly a few of good bounty campaigns at present. I think people are losing their faith in bounty campaigns.
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In my opinion, I do not like to wait for so long to get benefits from the crypto market. On the other hand, there is uncertainty regarding cryptocurrency. Not all the coins will survive. In short term investment, I can sell my coins for profit and buy another coins instantly as I wish. So short term investment is preferable for me.
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Scammers are the biggest problem in the crypto space. The crypto world is getting affected due to scammers cheating investors, traders and bounty hunters. So ways must be sought to control scam projects. First of all, people should be fully aware of scam projects. For that, they should research fully beforehand. Regulations can also control scam projects.
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One of the main reasons for a person to get scammed by a crypto project is lack of crypto knowledge. Mostly newbies without crypto knowledge fall prey to scam projects. In the crypto space, crypto projects make many promises just to lure investors and they often end up in scamming them. So investors and bounty hunters should carefully look at team, whitepaper, road map and website of a crypto project to find out whether the project is legit or not. They also should shun greed as well.
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That is why bounty hunters should be aware enough and research before joining any bounty campaign. Many of bounty hunters are complaining that they are deprived of their rewards or given less amount of rewards. It happens just because of lack of their awareness. They should stop promoting such projects that have allocated a small amount of rewards.
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My experience is not different from yours. I have not got anything except a few dollar worth of tokens. Even price of these tokens has fallen to low on exchanges. Talking about airdrops, I have got some tokens from only a few airdrop projects. So I do not have faith in even airdrops. Rather I love participating in bounty campaigns.
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There are many ways to earn free tokens. Some of them are mining and through airdrops and bounty campaigns. These ways to earn free tokens have their own merits and demerits. But for me, bounty campaigns are the best ways to collect free tokens. But you have to be aware of choosing good crypto projects amidst the market having also scam projects.
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I go for the second. So far cryptocurrency is all about to attract as many as investors and traders. If a crypto project with much potentiality fails to attract investors and traders, it may go to a waste. But a project without much potentiality will have a good future if it is supported by many investors and traders.
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How a crypto project is working at present is important. If a project is running according to the road map and whitepaper, it is likely to provide good result in the long term. But nowadays, people are impatience and want instant results, thus often leading to a loss. Strong and dynamic team, technology and goals should be looked at to avoid loss.
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I do not think that all of the crypto projects requiring clients to provide KYC details to get bounty tokens have bad intention. Some of the project have their own rules and they act on that. But I am also not in favour of providing KYC information to get bounty tokens. I know many of the crypto projects are not honest and they may misuse our KYC information for their personal gains. So stay vigilant about giving KYC information.
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I think exchanges are not solely responsible for the dump of a project. If a crypto project is good enough and has potentiality to grow, it does not require so called good exchanges to grow. It does over time no matter in which exchange it is listed. I have seen that some coins have not grown even after listing in so called good exchanges.
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I cannot see any difference between ICO and IEO just apart from their name. ICO, ITO, IEO all are a means of collecting funds to support an idea of a crypto project. IEO and ITO are just a means to ensure investors and traders that the project launching IEO or ITO are legit. But like ICO, projects launching IEO have also turned out to be a scam in many cases. So the crypto project should be honest enough to ensure it is a legit one.
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