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I was surprised when I got to see the performance of polkadot project in recent times. The project no doubt has been doing so well, but that doesn't warrant its being tagged a scam. What determines how successful a project could be is much more than acceptability and duration of existence. DOT token in my opinion is a good project and worth considering for hold.
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I don't think anybody would love to buy at a higher value when he's aware of an option of buying much lesser. The major reason why people buy at increasing prices is because of the hope that the price would increase much more or the fear of losing out from getting the getting the coin. In every case, people want the best for themselves.
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Defi hacks is gaining more popularity over time and it feels like the more we hear of hacks and dumps, the more Defi projects that are being established and pumped. I'm personally scared of investing in Defi projects however lucrative they may be, due to the fear of losses which may arise as Defi seems like a bubble
to me.
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It would be awesome to have a coin that doesn't have negative volatility, but that would be impossible owing to the fact that volatility by its meaning is up and down movement in the value of the cryptocurrency. If there was no negative volatility, Crytocurrency would have be regarded as the best investment one can embark upon for maximum return without risk of losses.
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Coronavirus is the reason why market is in very bad shape, it will be very stupid to exit because of this while others are making good choice presently, many are already saying it's the end for crypto but the fact is Bitcoin died several times in the past and it's still alive today, do not be fooled by those who don't understand the technology
It would be indeed foolish for anyone to consider corona virus as a threat to Bitcoin or cryptocurrency in general. The virus affected several sectors of the economy and the cryptocurrency industry was not left behind. The market has recovered for long and it feels like nothing even happened. |
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I personally don't consider the activities in a telegram group as a prerequisite for a good project. Getting an active telegram group doesn't cost much because bounty hunters can be used to keep the group active all the time. There are a several legit projects whose telegram group are not that active and everyone is satisfied with the performance of the team.
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The dump in the value of sushi remains a controversial issue, but I'm not interested in the controversy. The issue of Defi scam projects has been on the increase as a result of the Defi trend, several scammers are devising measures to take advantage of the ignorance of several investors. We all need to be very careful Inorder not to fall victim.
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In the year 2009, when cryptocurrency was lunched several persons most have laughed at its possibility for adoption. People only used it for test run. I remember reading a post that 10,000 bitcoin was once exchanged for a pizza in 2010 and that was for a test. With the current value of Bitcoin, even an insane person would risk such an amount for a test. The adoption of cryptocurrency is still in the pipeline and it would be achieved soon.
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Most of the altcoin that have the ability to give such an outrageous percentage in less than 24 hours are being pumped and those pumping it would certainly dump the value after a while. If looked closely, we would find out that the token has a low supply and probably listed in a few or only one exchange.
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I am using Tradesatoshi, Yobit, EthrerDelta, Bitterx, IDEX and found Tradesatoshi is the simplest and cheapest trading platform.
New Trading platform "ARBIDEX" launching soon.
Arbidex is the first trading platform that aggregates liquidity from exchanges. Right now we have Bitfinex, Bittrex, Poloniex, WEX, Kraken and GDAX connected. A user has an opportunity to trade on these exchanges from a single account and single window. The system will allow users to exchange their cryptocurrency with a best possible exchange rate automatically and the total commission fee will be lower than any of those that exist at the moment.
What is your experience and views?
Help others by sharing your experience.
It feels like a very good concept giving traders the opportunity to navigate across several exchanges to take advantage of the best price and enjoy cheaper fees. I guess it's the first platform that have those features because the most similar I know is an app called trader tab that allows user to navigate through several exchanges after inputting their API keys on the app. |
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Crytocurrency is getting more popularity by the day and several people are joining the space majorly because of the financial reward they expect from the market. Even as much as its possible to make excess profit in this space, there's still a lot of risk hidden in the cryptocurrency space. One needs to be very careful about projects because several are pumps and lack use case.
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USDT happens to be the most popular stable coin in the space and this is also due to the fact that it holds the largest market capitalisation for stablecoin. They've been rumours that the issued coin doesn't represent the exact amount of that is held by the token in usd, but that's really not necessary because its impossible for everyone who holds USDT to convert to USDT at the same time. Since the project has been able to fulfil her obligations as it relates to holders, there's nothing to worry about.
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I understand that we all have different purpose of holding a coin, but in my opinion, the purpose of holding coin is to take advantage of increasing value. This implies that our hold the coin until my desired value is accomplished or I'll sell when I feel the value is over priced and buy back when the value drops.
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The earn feature on coin market cap was included to give users an opportunity to learn more about cryptocurrency and some lucky users are rewarded for participating in the exercise. The opportunity was created after binance bought coin market cap and they've also used it as a marketing tool for the exchange. I commend binance for this great service as some persons would join the cryptocurrency industry because of that opportunity.
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It's an obvious fact that some developers are greedy and only concerned about making the most out of every opportunity. But I still believe that there are some who are selfless and genuinely concerned about the project development. They could even choose to include some Defi features into their tokens to make it more attractive to investors.
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One of the most popular altcoin that has given a very huge return on investment this year is the YFI tokens which is presently trading at about $33,000. The token was listed at about $900, and within a period of less than 2 months, the token increased substantially and as its stands the value is not done increasing.
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One truth is that our earning in this space grows as our skills and experience grows. There's a huge possibility for one's expertise and knowledge to grow as you get acquainted to the industry and this would help in choosing the right project to join for bounties.
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Do you have a preference for collecting tokens instead of selling them?
Currently in my wallet there are more than 200 tokens with different values and I do not sell them every time it is listed. I keep them and watch them every day. I was fascinated by the fact that there were many tokens in my wallet and not paying attention to their price.
Do you think this is a crazy hobby?
In my opinion, It's best to take profit, even as much as its important to hold tokens for future benefits. Its obviously unwise to eat your seed, but looking at this space, most projects are not up for long term operation. After a while they tend to pack up, so get some profit and hold only those projects that are worth long term hold like bitcoin and ethereum. |
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From my little experience in this space, I've found out that the most prevalent reason why people get scammed in the space is due to greed. Naturally, we desire what gives us more benefits at little or no cost. Scammers understand this philosophy and strives to build their strategies on this philosophy.
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