I have experienced both the peak and trough stages of altcoins. The current stage is considered to be a trough. Only by holding the altcoins in hand, it is possible to make a profit.
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Participation in project bounty activities, not all projects can be successful. My habit of doing things is that when I participate in this project, I will stick to it.
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So far, even scam ICO projects are difficult to detect, because the project side will try to hide their negative news.
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I think to avoid participating in scam projects in the future, you can wait for them to go on the exchange and buy them at a low price.
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I think that holding some altcoins with stable value will bring higher profits, but also higher risks. You must always pay attention to their price changes.
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So far, I have replaced my BTC and ETH with some altcoins. Unexpectedly, when the prices of BTC and ETH rose, those altcoins were falling.
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So far, I have seen several projects that claim to pay with ETH, and the results are all scam projects, which is really disappointing. The IEO project was very popular in the beginning, and slowly investors lost confidence in this approach.
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Last year, I experienced the investment of cryptocurrencies, which made me deeply realize that blind investment cannot be made, otherwise it will cause a very serious loss.
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There are only a few forked tokens that can really be successful. Many foreign propaganda projects are forked tokens, which eventually died out due to poor management.
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In the long run, buying BTC can get stable returns, and the risk of investing in altcoins is very large, and it is likely to lose money.
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Under normal circumstances, scam items cannot be easily identified. At the beginning of the ICO crowdfunding, the project party was very active in publicity. When the ICO crowdfunding was over, the project party slowly disappeared.
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I believe that POS-type mining tokens will be the direction of future development. So far, many exchanges have participated in equity-type POS mining and distributed benefits to users, which can attract more user attention.
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A good starting point started in 2020, and the price of Bitcoin has skyrocketed in recent days. I would love to see the prices of other altcoins rise at the same time.
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The risk of investing in altcoins is huge. You must always pay attention to the project information of altcoins. If the project team does nothing or exposes negative news, the altcoins have the risk of returning to zero.
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I think a altcoin with a high price but no trading volume is not worth holding. If it is truly valuable and recognized, its transaction volume will be very large.
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I think Binance has done a very good job in this transaction. Although the hacking incident was previously reported, because of the abundant funds, it was immediately subsided and the users who lost it were also compensated.
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