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I always believed that airdrops are done to promote liquidity of tokens and hopefully get it into more hands, but recently airdrops have not been economically viable, i am even surprised the projects still do airdrops because unless the tokens are airdroped into an exchange account, the participants wouldn't be able to sell them due to the high transaction fees, so there is no point
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The cryptocurrency is well known for scams and it is too rampant these days. Most of the time if a bounty seems too good to be true, it most likely is. A bounty project recently promised a budget of 1 million usd worth of tokens to the bounty hunters and after listing, and the token value went up, bounty hunters were poised to see a lot more, instead of paying hunters for their efforts, they opted to pay them in ETH worth less than 20% of the initial budget.
Making money isn't easy, and you're lucky if you find good projects in this market
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The rise and fall of the meme coins in the crypto market over the past few weeks goes to prove that pump and dump coins will never provide a lasting long term and viable investment options.
Its always best to stay clear of pump and dump coins that offer no real value or use case. The case of dogecoin in the meme coin market is outstanding and it will be almost impossible to replicate by any new meme coin
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BNB is easily the best exchange dedicated action on the market right now and the best altcoin behind only ethereum, the reason ethereum is still rated higher in my books is because ethereum has a longer and stronger track record and with the ETH V2 to be launched soon. I believe the issues of slow and expensive transactions will be tackled.
BNB Blockchain is having great reviews with the fast speed and low transaction costs, however, time will tell if this can be maintained when more projects get on the blockchain
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I trust centralized exchanges a lot more than DEX
Not all centralized exchanges are good though that is why i only restrict my cryptocurrency trading to only the top exchanges. This turkey exchange that you're referrencing here is not a top exchange and there is no reason why i will trust such an exchange with my cryptos.
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It is hard to predict that any new coin will be the next doge, the reason is once a new type of cryptocurrency is introduced and it has seen success, it doesn't take long for that particular night to get saturated with new projects and the same already applies to the NFT space.
There are a lot of great NFT projects and there are also a lot of sub standard projects too, so every investor have to be really careful about the projects that they choose to invest in.
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There are a lot of reasons why a coin dumps after listing and it is not always because of distribution yo bounty hunters
Bounty tokens often only make up for 1-3% on average of the total project allocation and there are also a lot of other factors in play, like the exchange of listing, promotion, pre listing progress of the project etc.
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There is a very distinctive and important difference between McAfee and Elon musk.
Elon must for all his antics on twitter hasn't actually done anything illegal or wrong, all he does is make occasional tweets about a crypto he obviously likes, but this isn't a form of paid promotion of any sorts.
McAfee is very different in that regard, this man has actively promoted projects that turn out to be extremely poor and a lot of people end up losing millions of dollars in cryptos
You should blame yourself if you take Elon's tweets too serious and use it as a financial advice because it was never meant to be one.
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Bitcoin is a far more stable investment option compared to Dogecoin, and BTC total supply is capped at 21million, meaning it has a scarcity factor and is also already the most valuable cryptocurrency out there. Dogecoin on the ither hand has no maximum cap on its supply and is subject to inflation just like the tradiyional fiat.
I'd simply advice you to hold a good protein of both coins.
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Exchabge tokens are great and they are one of the few cryptocurrencies that have an actual use case right now. They provide utility on exchnages and have fundamental properties to back them up. It is far easier for exchange cryptocurrencies to do well in this market, compared to every other cryptocurrency including bitcoin.
Every investor should keep some tokens of both centralized and decentralizrd exchages in their portfolio
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What I don't understand is some project that perform pointless token burns for example "Base Protocol" this is a project that I invested in and after a few weeks of listing, they perform token burns occasionally. I just find out that the tokens my wallet kept reducing and the team said they were doing some token burns which is pointless my opinion because this is not increasing the value of the tokens and it is not increasing my stake in the project.
I believe if it token burns is to be effective, it should be done on tokens are yet to be mined reducing the total circulating supply and not the tokens that are already owned by investors
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The decision to trade or to invest in a dependent on the skill set that you possess if you have no knowledge of price action and candlestick patterns and know how to read market structure and also know when to enter the market went to the prophet and went to exit then trading is very good way to go but if you don't have the necessary skills to be a successful Trader then it is better to go the Investment out by your coins and tokens and all them long time to keep your words what this means however is that you might have to sit through some dip in price and hold till it turns profit however if you invest in the right projects you will still be profitable.
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Based on the cryptocurrency projects that have seen good and sustainable success over the past few years, the recipes for success isn't just about having a good concept or a good team. To be successful in the blockchain cryptocurrency space you have to create a project that actually satisfies a pressing need either on-chain or in the real life.
A project is likely to be more successful If it solves a pressing on-chain problem.
This is even better because blockchain technology still has some way to go before it fully impacts the everyday lives or people like the internet does today, so there is still a need for projects that makes these blockchain integrations faster.
Such projects will always be a key part for the blockchain infrastructure in the long run and is almost guaranteed to be successful.
The cryptocurrency space needs projects that think outside the box and not just different versions of existing projects
This combined with other important components like; A good team, important/strategic partnerships, good marketing and actually delivering on the project's promises is almost guaranteed to make such projects a big success
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My worst expectations on cryptocurrencies are directly related to my bad investmrnts in cryptocurrencies. On of my worst investments is in sparkster, i regret investing in that project, i invested $1k worth of ethereuem in it in 2018 and that investment is worth less than $20 today with no liquidity and no hope of returns this ranks as one of the biggest investment mistakes i have made.
I believe it is always good to make good research before investing and don't follow the hype.
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The most common way that hackers use are malware spy attacks and phsing attacks
I once fell a victim of malware attack where the hacker stole my ether from my ethereum wallet
In my case, i believe my computer was attacked through my metamask.
I stopped using metamask since that day and i never had any compromise of any of my other wallets
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My friends and I are always like that in the past. When ever these is a coin that we fancy on, we just talk about it but unfortunately we don't have the money to invest in. But the problem is once we have the money, it has already went so way up that we regret not having the money at the time. Many years later I already learned how to do day trading and I was able to earn everyday now. I am teaching my friend day trading as well, so that even if there is bull or bear at least they will earn.
I think learning day trading is a very good move in the crypto and other financial markets today This is Because a lot of the concepts you learn from interpretation of charts, candlesticks and market structure will help you to frame a knowledge of how the price moves in the markets and help you avoid FOMO when a coin is pumping and also help you to make informed decisions when buying cryptos Trading is actually a skill that every serious cryptocurrency investor should have a knowledge of, even if you dont have an advanced knowledge of trading, the basics will save you from making wrong decisons on your present cryptocurrency portfolio. Sometimes people make a mistake of selling off their holdings at a discount and buying at a premium. Trading knowledge will easily save you from making this mistake. |
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