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Hodling BNB more is a good choice and I'd say you stick to it. But crypto market is unpredictable and it's always better to diversify your portfolio to avoid losing all your money when a particular coin dips. You can buy and hodl Matic and Solana too, these are relatively new coins with potentials.
Replying to not trading with instincts, i say it's not true. Trading crypto successfully requires experience and know-how, but sometimes, instincts are very important
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Looking for an altcoin for long term investment in my opinion would be a good move. A lot of altcoins have seen incredible growth in the past months. Picking any of them, I'd go for BNB.
BNB is not just a popular alt, but also has potentials being linked to Binance exchange and also governing the Binance blockchain. Looking at its utility and the current price, BNB still has a lot to offer investors in the long run
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Firstly, you should correct yourself. Ethereum is not a shitcoin as you call it. Secondly, you should understand that traders are in for profit. A lot of people go for Btc because of it popularity and strength to grow. If tomorrow ethereum surpasses it in value, then a lot of people would switch to ethereum.
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Ethereum gas fee is outrageously high. Anyone still transacting on the Ethereum blockchain I believe earns up to $1k or above maybe.
Cryptocurrency is quite reputable for its cheap transactions but obviously, that doesn't apply to Ethereum. This is a big flaw in the Ethereum network and it has kept a lot of investors awau. Developers really need to do something about this.
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Tron and BSC are two unique blockchain networks, which one is better than the other depends on the user and for what purpose it is used. Both Tron and BSC are okay and great for doing transactions. But a little observation will let you see little differences between the two, this will help you determine which is better for you. Tron network has cheaper chargers attached to transactions than BSC. But this cannot be compared to the popularity and many (NFT) projects on the BSC network. Using the BSC network exposes you to more tokens which is one thing traders crave for. Plus, nobody is interested in the complexities of Tron blockchain.
If I'm to choose, I'd definitely pick BSC network.
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I'll always choose Dex to Cex when doing transactions. Except for security and more trade options on Cexes, there's more freedom, privacy and ease when trading on a Dex. Nobody wants to go through all the complex process before withdrawing their coin on a Cex
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The dip a couple of days ago was beautiful but unfortunately I didn't take advantage as much as I should have. Is right now I bad time to go in? Should I wait for another dip? Thinking of getting several coins. Goal is very short time investment.
Since you say short time investment, i believe you are hoping to get profit soon rather than later. You could just invest in a coin now instead of waiting for another dip. It may not come soon, or may come and you pick a coin and it never goes up again. Cryptocurrency market is unpredictable, there's never a good or bad time to enter it. |
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Anyone have views on this movement that seems to be gathering pace last few days? The basic concept I believe is that if we all act in unity, and collectively pledge to Hodl, then with continued demand (and far lower liquidity due to everyone hodling) the price will move in a sustained upwards direction. The "game theory" being who breaks the pledge first as they "selfishly" trade. So you take the pledge and spread the word to others. Personally I like the idea and "get it". I'm a hodler and will do my part. But the "traders" seem almost offended at such a proposal. Personally, I think a lot of traders kid themselves about being able to profitably trade. The only guaranteed winner on trades is of course the exchange, which over time sucks money out of the crypto ecosystem, much like a rake on a poker table. I would post the image that can be circulated if you take the hodl 100 pledge but no idea how to post pix here.  We all wish that we could hold together and pump bitcoin's price upwards but that doesn't happen in a open community. People who want to take profits do exit and book their profits. Sometimes it's situations where some people have to sell their coins. So it really becomes more of an individual decision rather than a group strategy to hold bitcoin. It's true daily traders love to jump in and out with any slight gain with them. But i think with cooperation and a strong and consistent push forward, these guys will stick around because nobody will want to be left out when it comes to making huge profit. I really think BTC will reach a new ATH before the end of the year |
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Go for the easy and simple way, just buy when the market is hitting red for a while then sit back and relax the drama this will be an exciting for rich people because they don't invest the money they needed for survival so follow the strategy and surely anyone can be rich in long term.
This is not totally safe. Buying when the market is bad and waiting for profit when the market is back up is not always sure and itself has risks involved. It works for a few though, but not all coins usually recover after a crash. There are other ways one can trade and make profits like learning with demo accounts, studying price movement of coins, using trading bots, setting buy and sell limits, etc. Overall, one's experience, instincts, and size of investment strongly influences the outcome of each trade activity. |
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Just like the normal games, blockchain games are no exceptions when it comes to fun and entertainment, except for the rewards that comes with playing them. Most of these games' coin are not good for long term investment. They do well in the early period of launch, when all the hype is gone, the project goes down with it. Extra caution is advised when trading such coins.
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Let's not all be blown away by the promises of bitcoin and forget to see the truth. Bitcoin is no doubt a force in today's world, but i bet any top government will officially endorse bitcoin without some hidden agenda . If in anyway bitcoin will be controlled by these people in the future, then there wouldn't be any need to clamour an era where bitcoin is internationally recognized and used
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Everyone in real life is with the idea of centralization which they always assume applies to cryptocurrencies and blockchain. You can start by explaining the decentralized nature of cryptocurrency, let them know that unlike the traditional financial institutions they make use of everyday, cryptocurrencies operate in a digital environment and is managed by a network of people, making it impossible for a single individual to own. That will make it easy for you, and for them to understand a little about bitcoin before going ahead to explain other beneficial features of bitcoin.
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This is so true. Most investors trade with the mentality the every coin that dips will certainly moon. They usually wait for prices of coin to go down before going in and grabbing everything cheap. This method is tactical yet risky because not all coins have the utility and marketing to go back up. Especially meme coins, this one is dependent on hype. Once the whales get enough profit from it, the sell off, leaving the smaller investors no choice but to panicsell. It is advisable to make research before going in for these (cheap) coins.
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Solana is still in its infancy when compared to ethereum and the giant, bitcoin. Struggling in the early stage in the cryptocurrency market is quite normal and should be expected of new tokens. Price is back up and soaring. Let's just hope it won't be needing any maintenance any time soon.
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Few days ago i made a transaction on ethereum blockchain, sad to say it cost me over forty dollars. Today's cost is hovering at 30 dollars. Ethereum network is insane, I bet a lot of people will move over to BSC, tron, and polygon which are way cheaper.
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