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You are right especially if you don't have enough knowledge. You might fall for a scam scheme also if you're not careful. But if you do depth research before jumping into any kind of investment in crypto you will make money of it like x2, x3, or even more. You can also earn on trading just don't be so greedy or you might lose. Try also to participate in airdrop or bounty program they are giving free money without any investment but don't expect too much.
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There are lots of trading platforms now and it would be best if you choose the best one to make your transaction. In my opinion, Binance is the best trading platform whether for spot or future trading. In Binance there are lots of ways to earn money even if you will not going to trade such as staking, saving, and also learning from their academy gives you earning. They have lots of promos also that encourage more users to use their platform.
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Telegram is the most common tool crypto project is using nowadays in communicating with their users and investors. It is where they announce also their important updates aside from other social media channels. In telegram, they can get feedback and other concerns from the users and investors directly. In such a way, they can resolve the issue faster. So we can't generalize all the telegram groups as rubbish.
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A project that we're handled by high ranking members is more credible and reliable. It is because they were hard-earned those ranks. With high ranks, it will assure that they well experienced already and it is also an assurance that they study depth the project before they accept it. But we can't remove the fact there are also newbies who are handling legit projects now, so I guess it will depend on the participants whether to trust newbies that start a project.
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After Defi I guess it would NFT or Non Fungible token (NFT) will be the next trend. And for everyone to know NFT is a special type of cryptographic token which represents something unique. Non-fungible tokens are thus not mutually interchangeable. This is in contrast to cryptocurrencies like bitcoin, and many networks or utility tokens that are fungible in nature. NFT is being used in the gaming industry, art, and collectible as well. So let's see what will happen next year.
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USDT is the most common and most usable stable coin now among traders and investors. And the worth with the ratio of USDT and USD is 1:1 it is more stable than other stable coins in cryptocurrency. For now we need to trust USDT because it is most traders choice on most exchanges when it comes to a stable currency.
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The year 2017 was the year where Bitcoin went as high as 20000$ and as per the record, it was the highest price ever for Bitcoin. So many investors thinking it was the Golden year of crypto, but it depends on the perception of each investor. Halving just happened a few months ago, so many are waiting to break that record this year. Who knows before the end of the year will have another "golden year of Crypto".
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Social media channels help you to reach out or communicate with your users or investors. It gives awareness about the brand, and boost the project. This helps users/investors be more informed about the project, as in social media channels project announce all the updates. This will serve as bulleting board of the project and communication gateway also.
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For me, most of the people who fall for it are just newbie.
That is only the downsides of some newbies entering the scene of financial even cryptocurrency or non-crypto currency, they are very vulnerable to these kinds of scams.
That kind of scams or fake good news is all over the social media, most of the target are those newbies.
Also, some people are using fake profiles in social media, like Facebook or Linkedin, etc.
You are right, newbies are very impulsive investors most of the time, so with the old ones. Even if there are warning given to them they are still buying such fake news luring them. They are easily got caught with their greedy mindset that's why they are being trapped with this kind of bait easily. So it's necessarily not only for newbies but also to old ones to learn more about a project before jumping into it. |
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Piece of advice.
Although Binance is SaFu, it's still advisable to store your altcoins to your personal wallet. As what other says, if you don't hold the private key then it's not your asset.
If you're looking for an altcoins to invest you can check CHR (Chromia), the team are good and have a perfect background.
Plus they're in a small Cap on coinmarketcap so it's not too late to invest. Another are, CRV, DOT and those NFT coz I think it will replace the hype of DeFi.
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Do you really required us to comment post of link to be able to join the airdrop?
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When is the last week of the signature campaign?
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I begged to disagree but Telegram isn't trash. Telegram is the most commonly used by cryptocurrency projects aside fro their other social media channels. Telegram is where the project communicates with its users, investors, and possible investors in the future. Telegram is where they actively discuss new updates of the project and solving the supports of the users.
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There are several cryptocurrency projects that are offering their token as based payments already and it's been accepted by several establishments and offering services like travel and tours, hotels, restaurants, and others. So we can't stop those cryptocurrency-based payments anymore except to accept it either way. But as for me, I am confidently using Bitcoin as payments. And been using it as payment since 2018 without experiencing any problems.
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Ethereum will never be a SCAM. Those who are saying it's a SCAM might have FOMO and they are not knowledgeable enough about Ethereum. And in addition to it they might accusing Ethereum as SCAM because of the HYIP projects that coming out recently using Ethereum to attract investors. Ethereum has a great contribution to the Blockchain and Cryptocurrency ecosystem.
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During the last quarter of 2017, we can say that it's the Golden Days of Bitcoin. We've seen how Bitcoin pumped at it's Best that time and so many investors got hooked with that event. Bitcoin marked a history at that time. And because of that cryptocurrency became known to most people and lots of them became an investor with several ICO's. So many people also made rich by Bitcoin during that time. And now everyone is hoping for the next Golden days of Bitcoin.
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I think the biggest Airdrop in the history of cryptocurrency has happened last week and that is the UNISWAP (UNI) Airdrop which was claimed by those who have transaction in UNISWAP starting September 2019 onwards. Lots of users are being benefited from it. And the thing that the price wasn't affected by the dumpers that was really awesome. The next Ahuge Airdrop for me is HYDRO. And some we're saying XEM, but have no idea on it.
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When you hold Altcoins for several months it can also be considered as short-term trading. This is an instance of the strategy of day trading. And in this strategy traders might hold their tokens in just a short period of time could be using seconds, minutes, hours, or days before taking a profit. But be cautious as most of the altcoins are creating pump and dump.
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For me it's Ripple it is known as one of the fastest and secure blockchains. It can also handle an average of 1,700 TPS. And not only fast but also less fees in transactions. Next for me would be TRON or could be EOS. Not to mention I have heard about ULTRA too they said it's the fastest but haven't tried it yet.
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