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Investing in crypto like any other investment involves risk. Also, you should know whether you are investing for short term, mid term or long term. Doing proper research before investing is required, that's what is referred to as taking calculated risk. Most altcoins especially dipped massively and adding some now to your portfolio is not a bad idea in my opinion. As for me 50% of my portfolio is BTC and 50% is altcoins (ETH, EOS, TRX, ATOM, LINK, ICX).
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Ethereum is old, that's true, but Ethereum is definitely not extinct. Let's not be so quick to forget the awesome contributions of Ethereum in bringing forth unique projects built on its blockchain. Competition is always a welcome development, and for a fact TRON, EOS, and other new blockchain architectures like Binance Chain are really taking the shine gradually from ETH. I strongly believe ETH 2.0 will bring back Ethereum's glory, if not delayed further as always.
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My greatest crypto regret is selling my 3 BTC very cheap at 360$ wayback not knowing that BTC price will skyrocket later on. Also I bought ADA at very cheap rate way back on Bittrex, and then sold at dip. After I sold my ADA holdings, the price went up 10x. This shows that patience is a virtue especially in crypto. Do not rush to sell at dip if you truly believe in the project.
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I doubt if Binance mentainance was the major reason for drop in total market cap for crypto. It might have contributed to it but not entirely the reason, sometimes decline in market cap just happens, don't forget that crypto is highly volatile. I think what also contributed to more dip are some major pump/dump channels who posted on their channels that BTC will touch 9,700$ and ETH will touch 150$. It's high time we removed so much sentiments in crypto, nowadays any slight FUD causes massive dump which isn't cool.
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It doesn't really mean that an exchange is scam when it list a token and later on the team members are accused of being criminals. No matter how good the due diligence of the exchange is, no one is perfect. Some team members can present themselves such that they will pass all required verifications but yet they are scam. Also for the scam claims of tokens listed by LATOKEN, do not entirely believe any news you see, some are fake just to create FUD. Well, I'm not saying LATOKEN is the best exchange, it has some flaws but I still trade there since it looks fair to me.
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The best point buttressed in your post is that many ICOs used ETH as major payment method during the era of ICO and now that crypto enthusiasts have drifted to IEO, mainly using the native exchange coin/token to buy in, ETH dominance and price dropped. This is so true, I've observed that. Talking about the fate of ETH, I still believe with major developments that will be rolled out in future, everything should be well with ETH again. The price drop yesterday and today is really awful, ETH holders like myself keep wondering why the sharp price dip. Ethereum developers need to step up their game, we've not really seen any remarkable development for sometime and it's not telling well on ETH.
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Some of the points highlighted here to aid invest safely in crypto are OK but not all. The very first thing to consider is the team, do a background check to know if they are capable to accomplish the project vision. Also check the project development so far if it's worth your investment. Any project without development progress for long is considered dead to me. Then to be very safe, stick to top 10 coins although this is not a guarantee that you will make profit.
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Trust wallet and Atomic wallet are my favorite multi assets crypto wallets. Firstly, I like trust wallet because it has dapps support and also support for many coins. You can access Binance DEX on trust wallet. I was amazed to connect my wallet to stake my tokens on a newly launched dapp, this means they always keep up to date. For Atomic wallet, it has almost all available coin support, they were the first to incorporate BEP2 tokens support. You can also purchase crypto with credit card via the wallet and the UI is quite impressive too.
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It's actually a good news since added to BTT airdrop, TRX holders will also get WIN airdrop. All these airdrops given to holders are strategies to give crypto enthusiasts more reasons to hold for long term. Well, I'm more interested in project development than airdrop, I hold TRX but looking forward to more great milestones in project development, although airdrop is an added benefit. Let's see what the future holds for TRX, the past FUD really dropped the price.
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Your points are good regarding how to prepare for long term hold. Well, the very best virtue of a long term holder is patience. Holding some coins without indulging in other means of earning a living doesn't really make sense, since holding sometimes are not favorable ,we all know the risk involved. I'm a holder of some coins like ETH, TRX, ICX but I also trade. This keeps a steady inflow of funds, so that I don't rely entirely on my holdings.
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Actually it's not easy to trust new projects, so don't blame people who purposely missed out on the IEO when you introduced it to them. Anyone buying a coin because of the hype or name, or the logo, or the white paper is definitely not good with due diligence, yes don't judge a book by the cover, some projects may not have the best names or hype or whitepaper but when you look deep into their project vision, team, product, token economics, they look great. I think SERO like you mentioned is one of them, although to me it's average, not so great.
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Are you interested in cheap coins or coins that have future prospects? Well, you can check the price section of coinmarketcap to see all price rankings. Or probably you imply coins that dipped considerably with low sats, then you can check DENT, BTT, HOT since they dipped massively, do some research and decide which to go for. My Lil advise will be ; do not buy coins because they are cheap, buy coins because you believe in the project vision and future prospects especially for mid to long term.
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Staking coins are cool but I'm not fully in support of your opinion that they are better off that mining coins. Well, I'm a big fan of staking especially if it's not necessary to run a supernode before staking, that's free staking. Some of the dividends are cool although most of them are shitty. Been staking my NEO for GAS, VET for VTHO, so far I'm impressed with both. About the coin you mentioned in this thread, TELE I am yet to do any research on it.
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It's true that cryptocurrencies with specific use cases to solve real world problems are those that will succeed in the long run. We already have some coins which are able to solve real life problems but not yet gone mainstream because of restrictions and concerns placed on crypto. For instance NPXS by PUNDIX, the XPOS works but not yet used in shopping malls etc. Also, TAEL (formerly WABI) solves counterfeit issues with the anticounterfeit scan app, but not yet applied to a large scale. DENT can be used to recharge and subscribe Sims but not yet adopted worldwide. I can mention a couple of coins with good use cases but the issue remains diifficulty to be adopted mainstream.
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In future, many altcoins with no valid project vision and development will be dead, those altcoins which have good team especially with constant development updates will survive. About competition, you asked if coins like ETH and XRP will be affected, I must say that these projects have their own unique features which make them long term projects (ETH and XRP). Presently, many people say TRX and EOS are major competitors of ETH but the future will tell, same way they said ADA is ETH killer. Also many argue that LIBRA is major competitor to XRP, but still the future will tell.
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It's sad to know that crypto enthusiasts still participate in crypto ponzi schemes, all in the name of investments. I saw a platform today on telegram, they accept BTC, ETH, BCH, XLM and do fake testimonies in their group. It looks like a big joke to me but funny enough some people still put in their hard earned money in such schemes, that's what greed can cause. Do not fall prey to scam crypto investments, taking risk is OK but it must be calculated risk.
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You actually pay fees because it's needed by miners to confirm transactions and also for running of platforms, exchanges for instance get their revenue from fees too. Well I've done a couple of transactions on NEO tracker site without fees, but when using exchanges (like you mentioned changelly), fees are required, I already explained why.
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I checked that telegram group where KYC documents were dropped and most are dated back to 2018. CZ claims that that's old news which someone brought up again to cause FUD. Telegram should take that group down, I believe many people must have reported it by now so that scammers won't download people's documents. Well, it's a very terrible scenario even if it happened last year, I hope nothing happens to the documents of the affected.
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