Scams are like the most constant thing in this present cryptocurrency space both in the bearish and bullish market. The bullish market that we are in offers a rich hunting ground for scammers because a lot of newbies are getting involved in cryptocurrencies now more than ever before because of the opportunities that they believe exist and it is really easy for them to fall victim of scammers.

Newbies must take their time to analyze projects before they buy this coins, especially the new coins that appear out of nowhere have have made massive returns in a few days shooting them up to the top movers category on coinmarketcap. Most times some of this coins are created for pump and dump purposes and if you are not careful, you will find yourself buying a bag of coins that can dump anytime and put your portfolio in a big loss.

Successful projects often have strong fundamental attributes to back them up such that even in a bearish market where the growth in valuation of the cryptocurrencies may not be huge, work still continues on the projects development and the project community sees it.

These fundamentals is at the heart of what makes most of the great projects we have today successful

Cryptocurrencies are gaining a lot of popularity by the day and a lot of people are staring to get involved with the crypto space.

The Decentralized ecosystem is a very wide one with a lot of applications, proof of concepts and theoretical use cases for cryptocurrencies. While a lot of these potential use cases of cryptocurrencies may seem futuristic, there is one that is already a reality.

This is the use of cryptocurrencies as a means of monetary value exchange and store of value. This part of cryptocurrencies is what a lot of newbies are familiar with. So before you purchase your cryptocurrencies or download that exchange app that keeps popping up in your ads, here are a few things that i think you should know when investing in the cryptocurrency space.

I in my journey as a newbie have at one point or the other failed to realize some of these and paid dearly for it...

1. Cryptocurrency is Not a Get-Rich-Scheme

Most newbies get interested in the crypto market during a bullish market where everyone seems to be buying cryptocurrencies and making a lot of money, they tend to mistake cryptocurrencies for schemes that will miraculously make you rich out of nowhere.

This is a wrong approach to cryptocurrencies or any type of investments, because investments in their nature carries a significant amount of risk and you are just as likely to make money as you are to loose money, so choose your investments wisely



2. Store Your Coins Or Tokens in Private Wallets Not Exchanges

Most newbies make the mistakes of keeping their cryptocurrencies in exchange wallets and this is the wrong way to save your cryptos. There have been a lot of cases where cryptocurrency exchanges have been hacked and cryptocurrencies belonging to users have been stolen by the hackers.

I am not saying that this is going to happen to you or the exchange that you are using, but since it has happened repeatedly before, it can definitely happen again, so be sure to withdraw your cryptocurrencies to your personal wallets.



3. Price Direction Is Not Constant

The price direction of cryptocurrencies is never constant and in as much as there are bullish market conditions where the prices of most coins and tokens increases rapidly, there are also bearish market conditions when the prices of everything just dumps.

It is important for you to know this so that you can make more informed decisions when investing your money and also when deciding which money you want to invest into cryptocurrencies.

Back in early 2018, I once made a mistake of investing my rent into some altcoins, as it turned out i had bought these coins at the very top of the price pump.  A price correction started not long after i invested in this altcoins and when the time to pay my rent was due and I sold off my holdings, i had lost close to half the USD value of what i invested at the time.

if i had been more realistic in my approach to investing with the knowledge that price can go up and also come back down, then i wouldnt have invested my rent and i would be able to hold my coins even in periods of drawdowns.



I hope this helps you on your journey in the cryptocurrency space

I Came across a blog post from coinbase that addresses  a  51% attack on the ETC (ethereum classic) blockchain between 5th -7th of this month showing chain reorganizations that includes double spends of around $1.1 million dollars.

Before that about $100k of vertcoin, $18 million of bitcoin gold, etc has been stolen in similar manner from different cryptocurrencies.

I am able to understand that this is due to the vulnerabilities in PoW consensus. It has also coincided with some calls for projects to switch to PoS

Here's are my questions:
1. How secure is PoS?
2. If its so secure why are most cryptos still running on PoW?
3. Does this mean that ETH blockchain is not as secure as it is said to be?

Hello guys I am researching a project and it states that it is an Nep-5 token.
I am coming across this for the first time
Is this the same in any way with ERC-20 or what is the difference if there is one.