Cryptocurrencies can be kept online or offline. If the cryptos are kept on the exchange platforms or other online platforms, it can be lost due to hacks.
So it is important to choose the best wallets that are safe and secure. Please help me in choosing the safest cryptocurrency wallets
The wallet to use in storing your coin depends on the type of coin, that is, if it is Ethereum based tokens, Tron or other blockchain based tokens. Also, there are other coins with their own blockchain, so before you choose a wallet to store your coins first know from the team the right one to use. However, there are multi-currency wallets nowadays which has made the holding of different coins possible wherein they support both Ethereum based tokens and other tokens. An example of this wallet is Trust wallet, and it is safe and user-friendly. |
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I am not into this coin so I don't know much, how active the team are and what they have in stock for their community. So, if you can check the platform to see if the team are really active, if the team really have things or rather good developments coming up then you can hold. But if they are no longer serious like the used to be and the community themselves, if they have lost interest then you can sell because once a community lose Interest in a project, it will only keep dumping unless the team do something fast about it.
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There can be many reasons, first some stop their crypto projects when they run out of ideas thus proving that the whole set up was built on hype. Some also stop when they have exhausted the funds they generated, although the team can also steal the funds and claim to have run out of funds. Also, another reason which doesn't happen all the time is stopping the crypto project because of regulation, in this case the team can't be blamed 100% although some blames can be channelled to them for failing to carry out a good research on their location and its regulations before launching the project.
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The craze is getting out of hand and of course people won't listen because of the gains they are thinking they will get, well although some will make good gains and some will bear the loss. If care is not taken, uniswap will become a dumping ground for scammers and I totally agree with every single thing you said. For the fact that most projects listed there didn't passed through the right way, it means they can easily exit scam without trace. On one hand it is Defi hype and now Uniswap hype, there is need to be careful because scammers hardly let go of any good opportunity to make money.
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Yes the team works hard to make their coins better but in a different way; in the case of Ethereum the CEO is taking him time to ensure a reliable blockchain. But in the case of Tron, many people still have the mindset the CEO likes hype a lot which is why he have many coins in existence; now with someone having various coins to think of, how can he make Tron capable enough to compete or be better than Ethereum? So what I think and know is that, the difference between the two are wide, thus Ethereum is for better.
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Where exactly are the ICOs? If I remember vividly ICOs has decreased to the least minimum or even dead while DeFi projects are the ones increasing rapidly such that most new projects with a different idea are now gradually adding one or two features so as to be called Defi projects. Also, contrary to your opinion, with the dent on ICOs nature, I do not think anyone will trust it again because we have now seen that ICO fundraising method is highly risky. My humble opinion is, it would be better going for IEO fundraising method as it have proven to be less risky for a long time now than engaging in something (ICO) filled with risks.
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On one hand, yes it very risky to invest in them because hardly will you know if the team will even continue developement after IEO, which is the main reason most investors only invest because of IEO and once trading starts they sell of, which is also another reason most coins dumps badly after IEO.
However, on the other hand, if you love taking risks, then you can invest and know when to exit. Also, DeFi projects are now around with their own hype, wherein there are legit projects, there will also be fake ones, so you can try them out after your due diligence.
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Although this is true, but it is only 1 out of 10 projects that will end up this way. There are different case scenarios in this issue; there are many projects which delayed reward and then the project becomes worthless that the team had to abandon it. There are also many projects which delayed reward and when it was paid, it was already trash. There are also projects which will delay reward, keep extending it and then refuses to pay hence coming up with unprovable excuses. In the same way, there are still projects which will delay the reward and when they finally want to pay, they will slash the reward badly that it ends up being trash. Thus, it can be seen that there many case scenarios in this particular issue, hence the reason I said only 1 out of 10 projects will delay and it will pay off in a good way.
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I will say they are not worth it as it stands now because top exchanges have taken a very good spot and/or positions in the crypto space thus people will most likely invest in them because they are sure the team will keep working in order to improve the platform which will in turn make the token more valuable.
Another reason I think it is not worth it is because, with Defi hype, all attention has been adjusted to the Defi projects hence people will also find it better investing in them than some new exchanges which is yet to prove its capabilities. But yet, there can still be exemptions however in this case, the team behind the new exchange will ensure to keep working while developing new and attractive features which will bring in more users; this in my own opinion, is how Binance keeps growing.
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Titan coin again? What actually do the coin have that makes it one of the best or top cryptocurrencies to invest this year, to me it has nothing, well that is your opinion and I will leave you to it. However, I realized that Tether was also included, let me ask, how can one invest in something that won't bring any atom of profit? Tether is a stablecoin thus do not grow, that means, investing is just a waste of time. In my own opinion, it is not worth it holding Tether for a long time, but if you want to hold against crypto volatility, then Tether (USDT) is good.
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This is nice, at least those just joining up in the crypto space can have a good start and choice of wallets to choose from thus running away from free wallets and their likes. Among all the categories of wallets, I prefer mobile wallets because of their convinence and easy accessibility features. I have used all the mobile wallets listed and found Trust wallet to be more friendly, good interface and advanced as well. Just to add as well, Trust wallet support variety of other cryptocurrencies like Bitcoin, Tron, and so on.
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Amidst the pandemic yet giant strides are being achieved in all that pertains cryptocurrencies. I remembered vividly that Opera also supports crypto wallets within its broswer now this is another possibility achieved by it, which of course will attract a lot of users to its platform while also bringing more exposure to the crypto space. In addition, this proves that the crypto space can't be limited but however will keep expanding into different platforms and any platform which aren't ready to accommodate it will be left behind. Brave browser supports BAT coin and now Opera has taken a new dimension, who knows the next browser that will join them.
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I was using a free Mobile Wallet app, where i had send some new ERC20 TOKENS to the Ether Address in the wallet. Later i found it only support major TOKENS.
I can't able to send the tokens out, since i dont have access to PVT KEY.. Is there any Mobile APP that can support all types of ERC20 TOKENS..
-----please share. would be helpful for many new token holders, So to manage easily the tokens in APP.. --------
I think the first lesson to learn about wallet applications is that, once the wallet app do not give you the power to have a private key which of course gives you total control of the wallet, then don't use that wallet app. Also, there are many wallet applications that supports any ERC 20 tokens such as Trust wallet, Enjin, Imtoken etc. Now the good thing about them is that, a wallet from Imtoken can be imported into that of trust wallet via the private keys; this is one of many Importance of private keys. Lastly, learn to safeguard your private keys because if lost, you lose access to the assets in that wallet. |
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It's like a trend, once most developers whether legit or not sees a trend that is moving with much hype they will start developing their own projects which in most cases might not have anything good to offer. The Defi hype has grow up so much that most already developed projects are now putting in a thing or two features to tap into the hype; there was a time it was all about exchanges tokens and now it is all about Defi projects, tomorrow we might meet another. Nevertheless, in this trend, the first projects to bring up the idea always tends to be the most legit ones; hence only few Defi projects are worth it while others are out to grab investors money.
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You carefully pictured the whole case scenario and that's the truth about it. I would say many people did what they thought was the right investment just as we see in other sectors or industries but then realized that it couldn't work with blockchain, at least no successful one has been seen yet. To cut the whole story short, gold projects haven't proven to be trustworthy for a long time now and hence investing in them comes with much risk which aren't worth it.
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The first Important fact I think you should know is that, day trading and long-term holding are world's apart. For day trading you need to be well equipped with the knowledge and skills in order to be successful, it is not something you jump into within a few days of knowing it and expect to make good returns. As for the other one, that is long term holding, it also requires its own ways/things but not as tough as that of day trading because if worst comes to worst, you can easily hold Bitcoin or Ethereum.
However, what I am trying to picture here is that, you need to be good in order to make gains in day trading and also you need to know how to research about projects in order to hold coins that will give you good returns. In my own opinion, the best way to get started with long-term holding is through holding major coins.
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In my own case, I do not think, rather I totally believe it is the best crypto next to Bitcoin both in terms of volume, developments, active team and so on, Ethereum have everything which makes it a good crypto worth holding. It baffles me when I come across most projects which claims to offer better services than ETH and yet none have been able to achieve their goals nor even getting close to it. Furthermore, it has gotten so better and interesting that once there is an uptrend in the market and Bitcoin takes the lead, the next to follow is ETH.
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