Everyone who holds their crypto in the Binance platform should be concerned because the bankruptcy and collapse of the FTX platform is not the last, so we can expect anything, so we have to take precautions and not hold our wealth except in a cold wallet and stay away from exchange platforms, (....)
This is the downside of a centralized exchange. Once your funds are on a centralized exchange, it means they are not your money anymore, it's already theirs. And what I always hear from the CEOs of centralized exchanges is "Funds are safe." "We don't use customers' funds", etc. Those sentences are easy to say. FTX Exchange already proved this. About Binance outflows, if you really not using Binance, no need to put funds there, but if you are doing trading there, just put the amount how much you are willing to lose just incase or how much you are really using when you are trading.
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(....) This is what real staking should look like to keep your project running without hurting the project, most especially new crypto projects.
For some reason, they are also doing this because of marketing, like an advertisement of their centralized exchange. Because there are a lot of decentralized exchanges you can achieve this. But Binance making it easy so people can just easily use centralized exchange for it with just some twists. If you want to real staking, then why wouldn't you just run your own node then? (....)
I think OP mentioned a lot of ways of staking on the Binance. You can stake a lot of cryptocurrency on Binance, bitcoin, and Ethereum, and easily get it back.
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1. So as a new trader, it is always important to do your own research before any Investment with any upcoming crypto project. (....)
If you are a trader on a centralized exchange. I rather trade high trading volume pairs, most of which are high market cap altcoins. Even if you don't do any fundamental research anymore if you are more into technical analysis when you do trading. Only downside of being a trader is the centralized exchange they are using when trading, they may get rekt once there will be problem on the exchange like withdrawal being halted or bankruptcy.
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This is the best example of "Not all new projects are worth to invest". Pure hype, these projects are driven by hype and manipulation, that's why if you can see they are failing and old projects that were already here for the aged are still here, just like Bitcoin and Ethereum. These dead projects also blame the market because the market dumped them, for me, it's not a reason. If you are a quality project, bull market, or bear market, you are safe.
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(....)
Airdrops Bounties Giveaways (...) I don't think bounties will be considered "free" because most of the bounties need some work, you need to complete some task before they reward you also with airdrops, some of the airdrops became bounties like you need to follow their instruction or task to be rewarded. What airdrop really is, you just need to give your wallet address, or no need anymore, they just do a snapshot for all the wallet addresses on the network based on them.
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Lesson learned. This year 2022, I experience a lot of tragedies especially these bankruptcies that happened on the market. I was really affected by Terra Luna and FTX Exchange. I learned a lot of lessons especially about taking profits if you are trading or investing with a goal. It seems these entities went bankrupt is part of the bear market, it's part of the cycle where the market corrects, there are some entities that are affected but not all, and some of here are indeed misused of funds and intended to fraud the people.
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(....) Some people do trading to diversify their investment portfolio or to hedge their assets against potential risk & the new comers in market think, that there is easy money in trading which is not true at all, it needs experience and expertise which comes after proper training, then you start making some money.
The people thinking that trading is easy money are for sure driven by hype by some so-called "influencers" or "content creators" on the internet right now, like on different social media or Youtube. This is very difficult for new people, they may lost their hard-earned money by this.
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(....) I am also focusing on how bad things can be because of the geopolitics sanctions and war that is happening. They are not really making it easy for us to make money in crypto. If this Death cross occurs, we're fucked below $10K, you think?
$10,000 or below is always possible but for me, even if we fall below $10,000 I am looking forward that it will be just a short period of time before it will be back from above $10,00. Right now, we are building strong support around the $15,000 level and for me, this sideways is much better than hoping for a huge pump. The natural and organic pump is better.
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(....) So, how are you preparing for 2023, what or which altcoin are you buying in preparation for 2023?
Ethereum and Bitcoin are on my watchlist. After what I experienced in the previous years, bear market and bull market. I will not trust some altcoins that are no use cases or are driven by hype only. Maybe you can try them but small stake only. For me right now, I'm just preparing my capital be ready, like anytime you can buy on very cheap like on the dip just incase we will experience a huge dump in just a short period of time.
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I think it's likely to be deFi and the Metaverse. well this may not be about the sale, but how we are interested in investing there in any way as long as the project being developed is related to the current trend I don't think it's bad to be part of one of the investors.
Yes I think so that investors at the present time will be most profitable defi projects are of very low quality and are positioned very low in the market. ethereum bnb coins have good trend to invest investing in these currencies is good and the probability of bad is very low. Decentralized Finance (DeFi) is the big player for me for the next cycle. But other niches will stay, just like the NFT or metaverse. NFT and Metaverse already proved how it was huge earlier before the huge dump we experience. It's just wrong timing, we are in a bear market, and even with how quality the project is, they must taste the disaster of the market.
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(.....) Almost all altcoins are now making new all time low, Gala games for example look like it's going to 0.015$ after holding 0.025$ for months, I have halted my buys right now because I believe that BTC will go lower, what are you plans?
Altcoins really bleed during this kind of market. What I also observe is let's say Bitcoin dump 1% when it comes to altcoins, sometimes it is doubled or tripled when they dump. And as you can see, if you check the overall negative price from their all-time high, most of it is altcoins that are from mid - small market caps.
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(....) What are your contributions on this new change and suggestion in accepting bitcoin,does it means that businesses are suffering from fiat entrapment ?
Another way of contributing to the Bitcoin community is for example you are a customer or consumer from a business. By just a simple question, asking the business, "Are you accepting Bitcoin?" is already a good way, a simple but a big help. Because it will help other people to become curious about what is Bitcoin.
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(....) Most traders don’t fail at trading because it is hard. They fail because they are not willing to put in the work to create a detailed plan, test the plan, and then follow the plan.
These traders for sure are just people who are thinking that trading is easy money or like a get-rich-quick scheme. Strategy comes with work and time. You need to build your own strategy, practice it, and master it. Capital preservation is the best also here because as long as you have the capital, you still can trade, and you can still apply your strategy. That's why risk management strategy is important, like what OP explained with risk: reward ratio, that is working.
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Did actually we have a product with "AI" actually work?
I been in-crypto around 4 years, AI is always being mentioned or the main utility of some protect in here. Meanwhile, the reality almost all-of them is failed & that's the reason while project talking about "AI".
Is not actually building some "AI, they probably using that for buzzword marketing.
Exactly! It's pure hype, I even fall for these buzzword marketing with Matrix AI network before. They already failed. They are just here to scam newbies' money. There are some projects who are only driven by the hype. That's why these people must be warned or be careful of these new projects, I believe as AI will become trending, there will new projects will pop up and will just scam people.
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1. The obvious ones which are almost always hyped: BTC, ETH, BNB, Doge, Matic and ADA. We all know about them, so let's focus mostly on the others. 2. Polkadot (DOT) 3. ApeCoin (APE) 4. Dash 2 Trade (D2T): This one's not still in exchanges, but supposedly it's a strong crypto platform, and hyped. 5. The Graph (GRT) 6. NEAR Protocol (NEAR) 7. Decentraland (MANA)
If the market will start to recover in the year 2023, I am expecting that all metaverse projects will start to make some noise. But for me, smart contract platforms will also stay, just like Polkadot (if based on the list). I'll still choose Ethereum. Decentraland already proven how this project is quality during the early days of how metaverse or NFT started to become trending before. I believe Decentraland will still here and will become a big player.
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I just want to share my experience before. My own opinion is, it doesn't mean that a particular cryptocurrency is a cheap or really huge drop from its all-time high it is good to buy.
It's already proven by Bitcoin versus other altcoins before, when the market starts to recover, Bitcoin or any other high market cap already recovering but some other altcoins are still not, or they recover but not that huge percentage compare to Bitcoin.
That's why for me, it is better to accumulate Bitcoin during bear market.
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Despite the current bearish market that took some time lately and mostly this year I believe that Bitcoin will eventually become bullish again. While I don't necessarily trust technical analysis, I believe that the current bearish market is simply a temporary downturn in the overall trend of Bitcoin. (.....)
Technical analysis is important if you are a trader, so you really need to analyze the technical part of it, like looking at charts and identifying different patterns, volumes, momentum, etc. For the long-term side, for me yes, seems normal. Everyone wants Bitcoin to have a good price in the future. We are talking short-term here, like the current market condition we have right now. For me, this sideways price action of Bitcoin will stay even on next year, this is much better, as long as we don't do huge dump or pump in just a short period of time.
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(....) I have gone through some online Courses out of curiosity and did few minor trades all ready and want to get experience live day/swing trading?
Since you already have some experience, why not try what you learned? Like, apply all the learnings you experienced on some testnet or demo trading exchanges? There are a lot of exchanges that got testnet where you can trade without using real money. You can try Bitmex Testnet: https://testnet.bitmex.com/Bybit testnet: https://testnet.bybit.com/And after you tried, you can still continue to learn on other sources, paid or non paid, much better for me if you want to save money, go try self learning.
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Satoshi Nakamoto really created Bitcoin to handle such a thing as this, so for me, no need for any hard forks. Since satoshi is the smallest unit of Bitcoin, I can say that is already enough. We just familiarize the conversion of 1 satoshi = BTC, like how many decimals.
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(....)
I'm not going to say that I do not agree with the bitcoin mass adoption but from what I can see every time we talk about the adoption of bitcoin in a country we can also see their government is asking people to pass KYC before making any transaction also they want their people to to pay tax for the investments they have and for the exchanges they do, this systems is actually same as the trdetiopan and cetralazed systems they already have in their country and that's gaist the bitcoin basics. This is totally different from how Bitcoin works, these KYC things are centralized, you can always use Bitcoin without doing such things as KYC or any centralized related, you can send and receive Bitcoin. Maybe what you mean is using some centralized services like cryptocurrency exchanges.
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