Attractive Gains Met By Significant Loss
Many people have chosen to avoid the whole idea of yield farming or liquidity mining due to the significant risks associated with the sector. These risks generally exclude impermanent loss, which even many Crypto users are unaware of. DeFi has been and continues to be a very active avenue of the Crypto space, with many predicting significant growth in the years to come. I too believe that this is just the start of something that will dramatically change finance in the years to come. Attractive gains are obviously the biggest draw card to the sector, with many opportunities offering insane returns.
However, many do not consider the losses that are at hand as they only consider the risks. In this scenario, a rug pull or exploit would be considered a risk but a loss can take place without any of these dynamics taking place.
A loss can take place even when the price of an asset increases. This is referred to as Impermanent Loss and can be a hidden enemy lying in wait to attack the value of your assets.
Impermanent Loss & How It Works
When providing liquidity on any Automated Market Maker, deposits need to be of equal value. The AMM protocol operates on a formula to adjust holdings in relation to price movement. In essence, the purchasing of an LP token is purchasing a percentage of the pool. The algorithm or formula adjusts the ratios of the assets in order to keep the distribution equal. What this means is that if one of the assets happens to see a significant appreciation in price, the holdings will actually be altered to reflect that adjustment.
This can cause liquidity providers to actually come out of the contract with less tokens than they initially invested if they choose to withdraw the liquidity at those prices. However, if an investor chooses to wait and prices return to the original levels at which they deposited, they will be able to withdraw the same amount of tokens as they deposited.
So How Can We Avoid This Dynamic?
There is a very simple approach or strategy to implement in order to remove the risk of impermanent loss and that is to use stable coin pairings, such as BDO/BUSD or some other stable coin pair.
These coins are not supposed to increase in value and even when they do it is usually a percent or two. Perhaps BDO is not the best example as it is known to move outside of the prescribed range. A pair such as BUSD/USDC is probably a better option for such a scenario, as a move over a percent would be considered large. I have seen many who chose to provide liquidity with more volatile assets such as Compound and exited the protocol worse off than if they had simply held those 2 assets in their wallet for the same time period. This means that even after the compounded returns, the impermanent loss became realized loss and put them in a worse position than simply hodling.
This can be avoided by utilizing stable coin pairings and many offer really impressive returns as well. Perhaps something to consider if you have experienced this dynamic play out in your ventures. This is however not investment advice. Please do your own research and make informed investment decisions.
One Man’s Wealth Is Another Man’s Poverty
Wealth means different things to different people but at the end of the day, true wealth means having more than you need, complemented by freedom, health and a great lifestyle. The accumulation of financial wealth is however what I am going to be focusing on and more specifically, wealth within the Crypto space. There are a few important approaches that are fairly common amongst most Crypto investors who started with basically nothing and went on to accumulate significant wealth. Unless you are already super wealthy, these are the strategic moves that you need to consider. A dedicated and diligent execution of these strategies can produce tremendous wealth over time! This is not some highway to wealth but rather a path that will actually require time and effort. Provided that is you, these strategic moves should help you attain your financial goals within the Crypto space!
With that in mind, let’s explore my key principles to Crypto wealth! As always, I am not a financial advisor and this is not financial advice. These are simply my own personal methods.
No matter how much you choose to invest in Crypto, ensure that you put aside a set amount on a regular basis. Whether this is on a weekly or monthly basis is actually inconsequential, provided it is done consistently. This amount does not need to be excessive but rather what is affordable and within your means. The idea behind dollar-cost averaging is that you manage to gain entry points into the market at staggered price levels, ultimately reducing your risk. This approach also eradicates the need for a lump sum investment, which is often very difficult for most potential investors to get their hands on. By simply adding small and manageable amounts, investors can begin to amass a meaningful amount of Crypto over time.
Once again, consistency is at the heart of this approach and I am sure many will agree with me that this is one of the most powerful approaches. This is especially true for new investors, as timing the market is not necessary.
Crypto Side Hustles
Whether you are a blogger or make use of online earning sites such as Cointiply or Noise.cash, earning additional Crypto is another key aspect to consider. The amount of Crypto that can be earned via these channels depends solely on the individual. There are a number of opportunities and avenues to explore within this genre of Crypto accumulation, making it an accessible option for most people. Just ensure that the opportunities you choose to utilize are legit and that the compensation is reasonable and relative to the time required.
It is always wise to remain with the leaders, so as to avoid scams and ensure that you actually get paid! It is important to note that all earnings via the methods I am outlining need to be hodled and not spent. Earning or generating Crypto is rather pointless if you choose to spend it. The idea here is accumulation and mass accumulation on as many fronts as possible.
Passive Income Mechanisms
Wow, this is an element of accumulation that is almost limitless! Pretty much any opportunity can have a passive element to it, one just needs to get creative. This is my favorite approach, as it has so much potential upside and scope. Referral-based opportunities are great for this approach! A lot of promoters utilize Binance or Bybit, as many Crypto investors require the services of an exchange to buy and trade Crypto. Any opportunity or platform that offers a referral program has the potential of producing passive income.
Building your income base by leveraging opportunities and referral programs can be very lucrative, especially if you manage to onboard a couple of very influential and active referrals. Building any form of passive income requires time and one should not lose heart along the way. Any amount of passive income is an income that you will not have to work for again and one should always meditate upon that as an encouragement to continue!
Trading Altcoins With Massive Potential
This can be a rather tricky and dangerous venture, as outlined in “Micro-Cap Gems – A Dangerous Journey?”. Deciding to explore this avenue should only be done after much consideration and is perhaps only suitable for individuals with trading experience. The upside to this method of accumulation is that when dealing with smaller-cap projects, one does not necessarily have to invest large amounts of capital in order to experience significant gains. In my recent article, “Two Sapphire Picks From 2020 That Surged More Than 300X”, I reveal two of my most successful altcoin picks from 2020. In this case, a small investment of even $100 would have realized a profit of at least $30K, which can go a long way to providing capital for further investment and passive income generation.
Lending & DeFi
This is another very lucrative and exciting sector. Lending has been around for a number of years, with names such as BlockFi and Celsius leading the space. Earning interest is great but I would suggest only lending out a portion of your holdings, as there is always risk involved when it comes to any third party. Diversifying your allocations between numerous platforms is also another way that you can reduce your risk. Lending returns generally vary between 4% and 6% per annum.
DeFi definitely has the upper hand when it comes to the annual percentage yields on offer between the two avenues. However, increased profit potential comes married to increased risk! Rug pulls and exploits are a very significant risk within the DeFi space and partakers need to research and ensure that they fully understand these risks. That being said, the returns are rather significant in comparison to traditional lending and interest-bearing accounts. Getting your hands on some quality DeFi projects before the market picks up on them can be very rewarding and will continue to generate great income and profits.
Rinse & Repeat
Exercising these 5 principles can see your Crypto wealth grow exponentially over time and literally enhance your overall financial position. Don’t fool yourself into thinking that you can attain these results within 6 months, this approach will require a diligent approach over a number of years. However, no outcome is guaranteed and these are the methods that I have personally utilized to grow my own Crypto holdings.
Thanks for the visit and I wish you well on your own unique journey. Hopefully, I have provided some food for thought for those unfamiliar with these methods.
A Practice To Continue
Even if you are completely sold out on altcoins, something I believe everyone should be doing is building a BTC stack. Not only is it a logical move, considering corporations, high net worth individuals and financial institutions want the security and history of the oldest and most secure Crypto but more holders also limits the supply. More people hodling BTC means that the supply shrinks and ultimately drives the price up, including alts. Let’s be honest, most people in the Crypto space are largely speculators. Speculators are generally more concerned with the next big mover and generally tend to exclude Bitcoin.
Holding alts in the medium-term can be an extremely powerful strategy for increasing BTC holdings. I had a couple of alts performing really well in this bull run thus far. One of them being BTMX, the BitMax exchange token which recently rebranded to AscendEX. This token went from approximately $0.03 at the commencement of this run to an all time high of $3.26, which is more than a 100X in a very short amount of time indeed. Selling these sort of holdings for BTC can definitely give your BTC stack a massive boost.
I have a certain allocation of small to micro cap coins that I am waiting on, in the hopes that these can be converted to BTC after some very significant and explosive upside! This is then ultimately considered a BTC stack, as I am monitoring the BTC value for a permanent exchange at an acceptable level.
Multiple Stacks Means Multiple Approaches
Holding alts with the intention and strategy of converting to BTC is one way of indirectly accumulating BTC. Another approach is to simply buy on a regular basis and dollar cost average into building another stack. This approach can also be very rewarding because you will ultimately be able to gain some entries at significantly lower prices over time.
One of my main approaches to building multiple stacks is to send passive earnings to dedicated wallets and build unique and separate BTC stacks over time. This is obviously the best and most favorable approach because there is no cost, or work needed in order to gain the BTC! I focus very strongly on this approach and when I may seem to be a little quiet in regards to producing content, you can be sure I am most likely working on this dynamic. Though passive streams ultimately create BTC with zero effort, building and structuring them does require work and effort.
However, this is the type of work I really enjoy doing because it is a form of work that will continue paying me well into the future. It is not the typical once off exchange of your time for a monetary reward. In building these stacks, I sometimes assign particular revenue to a separate wallet. I do this in regard to my CryptoTab earnings, as I do run a few devices and have quite an extensive mining network. This produces newly printed BTC at a constant ongoing rate. This might not work for everyone, as significant earnings are in essence tied to having a decent mining network.
Due to the fact that you do not have to dedicate any time towards a system such as CryptoTab, or similar passive systems, the earnings are inconsequential as they will just continue to grow and grow as time goes by. Imagine you were passively earning thousands of satoshis a day since 2009! Sure, it will take time but that is all! All there is to do is simply keep checking your wallet and seeing your BTC stack grow! This is the mindset that becomes wealthy.
Another approach is to build stacks in a BlockFi or Celsius wallet. These will grow over time as well due to the compounding effect on the monthly and weekly interest being earned. I slowly add to these and simply allow them to mature and grow over time.
The Benefits To Multiple Stacks
In the world of Crypto, diversification is still one of the most important approaches to maintain, as it ultimately hedges you against potential threats. Hacks, exploits and other risks are very real and having your holdings spread across a number of wallets and services certainly does offer a significant amount of protection. I always consider this and implement this approach as much as possible. It does provide some peace of mind and I am sure many will possibly agree with this concept.
Please do not consider this investment advice. These are my thoughts and approaches in the market and serve to provide food for thought that may encourage personal research.
Under The Radar Gem
The Ubix Network, with the ticker UBX is a project I gained some exposure to earlier this year. Currently the network transfers millions of dollars a day and comprises of 6 blockchains. The network is a hybrid, comprised of both public and private blockchains. The Ubix ecosystem is quite extensive and the team has been quietly building and developing this project for years, specifically avoiding marketing agendas at this stage. One of the main features attracting investors is the daily airdrop of 0.10% to wallet balances that exceed 1 million UBX. This sounds like a lot but it is not nearly as expensive as one may think. For those who do not have the funds to purchase 1 million tokens, there is an alternative available to stake any amount that I will address later. At the current price of UBX it is approximately $520.
In order to stake UBX, users will have to follow the instructions via the official site and make use of the MakeMeMoney platform via the Ubikiri porthole. I attained my first batch of UBX some time back and even though the price has been hurt by the recent drop, my initial position is still up almost 2000%.
At the recent peak this bag of UBX surpassed 100X, which is a very clear indication of how this project can still move massively to the upside.
My main reasoning for this view is twofold. Firstly, the project is still very much under the radar and secondly, the market cap of UBIX is currently only $20 million! A $200 million market cap is even tiny and that is 10X from here. It is a bit of a risk but the risk/reward ratio in my opinion is pretty good, which is why I still hodl UBX and will buy more in the dips. Looking at the graph below, you can see that I managed to secure my initial holdings at the ground level and if you know me, you will know that it is very unlikely that I will ever sell that holding. Any coin or token that I manage to get in on extremely early is always a long-term hodl for me. Having that upper hand is extremely valuable and I love the advantage that it offers.
I may move them around and will only consider selling in the isolated event that the project collapses, or suffers some significant setback. Exploring the Ubix network will reveal how complex this project actually is, including how advanced the tech is. Unfortunately, this does not exclude the staking process. Staking UBX will mean that you will have to create a wallet on Ubikiri and then unwrap your UBX from the ERC20 version to the native UBX. Holdings need to be in the native version of the token in order to stake. For those who may find all of this a little too complicated, you can always simply consider holding the token as a speculative trade. These staking yields may indeed bring in a lot more investors, once the word is out. This will automatically cause the token price to increase.
The Ubix exchange has also recently been launched, which is connected to your account on Ubikiri. Purchasing UBX on this exchange is already in the native form and does not need to be un-wrapped. Other exchanges where you can pick up UBX as an ERC20 are KuCoin and Hotbit.
Even if investors cannot afford the 1 million tokens to qualify for the staking daily drops, there is another option. StackOfStake is a staking platform very similar to Mycointainer that offers the opportunity to stake any amount of UBX. From what I understand, UBX tokens will still have to be un-wrapped or purchased directly from the Ubix exchange in order to stake. You will have to do your own research in the event that you may wish to utilize this opportunity.
Ubix also passed an audit performed by Slow Mist back in July. Most projects are pushing marketing campaigns and onboarding new users long before they even initiate an audit. Ubix has been very professional in their approach when it comes to securing and polishing their project.
Ubix have launched their exchange, alongside Ubikiri and staking platform while simultaneously performing a smart contract audit. The team seems very set on getting the project polished and in optimal working order before attracting the masses. There is a lot involved in this project and this article only touches the service. If Ubix intrigues you then you are welcome to visit the resources mentioned.
This article is however not investment advice or an endorsement of the products and services mentioned. Please do your own research and exercise caution. Thanks for reading!
I Have A Penchant For Micro Caps
Being involved with Crypto for many years now has afforded me the privilege of witnessing coins like ETH surge from a few dollars to well over $4000 in May of 2021! I have also seen first hand how other projects that started at zero, have gone on to become top tier coins and projects, offering tremendous value to the world.
This has not only been something that I have viewed from the sidelines but something that I have been actively involved in as well. Seeking out altcoin gems is something that really gets my attention. Generally I like to look for micro caps that are still in the range of tens of millions of dollars. Sometimes a project that has a market cap of $300 million to $600 million will also enter my radar. It all depends on what it is and who is involved. This can often be very risky but also extremely rewarding when things go as planned.
The investment approach or strategy is very important here, which is why most people will only confess to losing money after investing in micro caps. You have to be disciplined and diligent. Going all in straight off the bat is very dangerous and will often end in tears. My approach is to start very small and then to monitor the price action. If the price offers and warrants further entry, I will in turn continue building that holding over time. This is however dependent on the progress and development of the project. Simply throwing money at micro caps is rather foolish, even though you might happen to get a few right. The truth be known, many simply fade away into oblivion. Abandoned by developers and cast aside by disappointed investors, many small projects erode away quietly in isolation.
This is not the mental image you want to be associating with your investment, which is why doing your own research is imperative if you want to significantly decrease the risk of this scenario becoming your reality.
Two Of My Top Picks
Unibright was a project that I first picked up at approximately $0.01 at the tail end of 2019 and wrote about in 2020. This project has managed to surge way beyond $3 and still manages to remain under the radar, even at the current market cap of $562 million. UBT is currently trading at $3.78 at the time of writing and actually surpassed $4 yesterday, making it a 400X profit for me. This is had I chosen to sell, which you know I didn’t.
This is a very long-term hold for me, largely due to the powerful partnership opportunities that I foresee for Unibright. Looking at the graph above, you can see that potential loss at this point is basically an impossibility. This is a textbook example of what I aim to do when it comes to alts. I want to get in on the ground floor, long before anyone even has so much as a whiff of moon dust. It has become my obsession to try and get in earlier and earlier on new projects that I believe have a potentially bright future. It is a dangerous journey to the top and definitely not for everyone. However, when you arrive, you really do arrive!
Solana is the second project that I wrote about numerous times and was strangely surprised that pretty much nobody was sharing my enthusiasm over this project. This project seemed to remain under the radar for an overextended period of time in my view. Even when SOL broke the Top 30, there was no real hype or attention. This is somewhat strange but I am sure that the Solana enthusiasts appreciated the opportunity to load up on even more cheap SOL!
I purchased my initial SOL at approximately $0.30 quite early on in 2020 and only wish I had bought more. This is a mistake I have dedicated myself to never repeating again. I now visit all my micro cap allocations on a daily basis in order to identify any potential dark horses. Buying the dips of a micro cap project on a long-term uptrend is for the most part a pretty smart move and is how I now build all my positions in this sector.
There is likely to be a very short period now where Solana will trade at a discount to recent highs before edging higher. Likely a fairly good time for late comers to pick up some SOL. Let me know of any micro caps that you believe have the potential for significant growth. I would love to hear your ideas!
Please remember that nothing mentioned here should be considered investment advice. DYOR, it is actually rather fun! All the best, cheers!
Has Civic Been Waiting For A Moment Just Like This?
Civic is the creation of Vinny Lingham, who formerly founded Gyft, a business he later sold for approximately $50 million, if I remember correctly. Vinny became interested in Bitcoin during his time with Gyft and actually added BTC as a payment method in an attempt to resolve the tremendous amount of credit card fraud they were experiencing at the company. The implementation of BTC actually turned out to be a very good move and brought an end to the majority of the problems they were experiencing. Anything that has the ability to help a business owner improve his business also has the ability to capture his attention. This is exactly what happened with Vinny, sending him down the Bitcoin rabbit hole. Vinny went on to make some pretty astounding BTC price predictions, which later coined him the nickname, ‘The Bitcoin Oracle’.
Civic launched their ICO just prior to the ICO frenzy that rocked the majority of 2017. One thing that Civic got right was to shift the majority of their capital from ETH into USD just after the finalization of their ICO. This gave the project a wealth of resources, allowing them to continue paying the team during the tough years of 2018 and 2019. Civic is essentially an AI powered identity service that aims to verify a user once and then allows users to interact based on one initial identification process, thus making ongoing KYC with multiple platforms and services redundant.
Some may feel that this is a bit controlling, as the entire model is based upon KYC. However, that is the way things are heading. Many choose services that do not require KYC but the day is coming when that will become increasingly difficult. So, would it rather not be better to disclose your details once, to a company that will authorize you and enable you to interact based on that authority? This is the argument that may cause Civic to appear to be the better option in time to come. Since covid, it is very clear that this type of model is going to become the default design. Love it or hate it, this type of interaction is definitely on the way, making Civic a potentially good investment.
One ID verification that encrypts data and then enables users to interact freely without multiple barriers of entry. It seems logical that such a model will eventually take off and that is when I would like to be already holding a decent bag of CVC!
Civic In The Charts
CVC has performed relatively well in the recent bearish trend and is showing signs of a significant trend reversal. Looking at the chart below, it becomes very clear that there is a beautiful double bottom in play.
The neckline has been broken and it is looking very likely that this will be a valid pattern, potentially triggering some significant upside. The market cap of CVC is $226 million at the time of writing. I must admit that I do prefer smaller market caps but there is definitely a lot of room for a lot more upside and growth. I am not necessarily a big fan of Civic but I don’t allow biases to rob me of an opportunity to make bank. There is potential and I will be watching and slowly building up a small stack of CVC.
Always remember that these are my my views and not investment advice. Do your own research and make your decisions accordingly. All the best!
Life Changing Gains Or Average Gains?
When it comes to alts and especially micro caps, you have to answer a very simple question for yourself. Do you want to experience some decent gains, or are you looking for gains that will be so significant that they can actually change your life? Getting to the heart of this is the first step. The information I am about to share will test that decision if you answered in favor of massive gains. It may indeed cause you to change your mind because the risk involved here is immensely high. It is important to note that this is not investment advice and you should immerse yourself in your own personal research before making any decisions.
This is what I have gleaned through being in this market for the past 7 years. It feels more like 3 though, time really seems to be accelerating at an ever increasing pace. Before I address the risk factor, it is important to look at another element that often wears investors down and ultimately pushes them out of the game.
Time Is A Powerful Tool
The simple yet highly powerful principle of time is one of the key elements here. This is true of any market and true for the entire Crypto market as a whole. Significant time in this market should in most cases see positive returns. However, When it comes to smaller projects, this is often a compulsory prerequisite that can go on for extended periods. Even though a specific project can have massive potential, it more often than not requires a very long time for the market to identify it and then validate it with price appreciation.
This can be seen in a project like Polygon and more recently, Solana. Polygon, previously known as Matic sat at the $0.02 level for absolute ages before violently breaking out above $2! In the time that investors are awaiting recognition, the price can either remain largely unchanged, or suffer highly volatile swings. These swings can sometimes see projects sink to unimaginable lows before suddenly rising into new levels through periods of crazy price discovery. What is the point I am making here?
Simply put, you don’t get to decide the timeframe. You have to make a prior decision to sit out out this period of necessity. You also need to decide whether or not you will add to these positions when prices drop significantly. In other words, you need to have conviction. Forget about diamond hands, that comes second to conviction. It is your unwavering conviction that empowers you to hodl when all seems lost. Can you stay the course and have you done enough research in order to build a strong conviction in your decision?
The Death Rate
It is no secret that many altcoins fade away into obscurity and while they may still exist, the trading volume and blockchain activity are synonymous with a mall during lock down. The value and market cap of these projects is also for the most part absolutely erased. This is unfortunately the risk that is always looming in the background and can even happen to a good project, in the event that the team just become weary in trying to establish their project. The risk of losing the majority of your investment increases significantly when you begin to invest in unknown projects.
This is unfortunately the price one must pay because once stability is established, gains are very much restricted, though exceptional projects can sometimes still surprise further. Investors in altcoins and particularly micro caps need to consider these points very carefully before taking the plunge. My approach is always to start with a minimal investment and to average in further on the road to higher levels. If the trend is up and I buy the dips, it usually works out very well for me.
As mentioned earlier this is not investment advice and doing your own research in this particular sector is absolutely imperative.
So What Is Hi Dollar & Who Is Behind The Project?
Hi Dollar hit the Crypto space a few months ago and has since reached in excess of 1 million users. Hi Dollar is a token based monetary system that aims to allow users to transfer funds via already utilized mobile apps such as Whatsapp, Telegram and Viber. There is no actual Hi Dollar app, thus allowing users to operate within the structures of already large and utilized systems and networks. The team aims to onboard 1 billion users in the next 2 years and looking at how easy it is to join, they might actually secure a fair chunk of that. The Hi token is currently an ERC20 token but that looks set to change sometime in the future. The referral program is also quite attractive, which will inevitably play a very significant part in growing this community. We will take a closer look at the referral program and daily rewards later on, as this is the current draw card in my opinion.
Even though there does seem to be a bit of a pyramid feel to this project, there are some real heavy weights involved here. Stefan Rust is the former CEO of Bitcoin.com and has joined up with a handful of other very influential names in the Crypto space. Sean Rach, the former CMO of Crypto.com is also involved and specializes in marketing and is passionate about FinLit. Stefan and Sean appear to be the face of Hi, with Sean leading the way with social media interaction amongst the community.
It does seem strange that such prominent figures would risk their reputation by launching a scam project, which does provide some hope to there actually being some substance here. Doing some research online, proved that these team members are indeed legit in terms of being real people who have actually achieved the accomplishments stated by Hi Dollar. Personally, I would not invest in purchasing Hi tokens and fortunately I don’t actually need to! This is where the daily rewards come in!
Daily Rewards & Referral Program
So, in order to join Hi and start earning daily rewards, one only needs to join via Telegram or Whatsapp. Viber and other apps are soon to be added as additional alternatives. There is only KYC required for withdrawals and can be done on the Web App at a later stage. Users can in the meantime accumulate Hi Dollars for free every 24 hours. Claiming the daily reward of 1 Hi Dollar literally only takes about 10 sec each day and is why I reckon its worth the time. Currently, 1 Hi Dollar is valued at $0.87 and has been as high as approximately $1.20, which is great for the amount of time needed to earn it. Even if Hi Dollar fails, 10 seconds a day is no real loss. On the other hand, if it succeeds users are able to easily stack large amounts of Hi over time.
Currently, free rewards are locked up for a 12 month period in order to protect the price from dumping. Hi can alternatively be purchased on UniSwap and staked as well. Like I said earlier, I am only comfortable earning my free Hi at this stage until time in the market enables us to have a clearer picture regarding the future of this project. After a year from launch, I suspect there will be sell pressure as early adopters will be cashing in. Hopefully by this time, there will be more confidence and buy pressure as a result of staking and actually using Hi as cash.
This is where the team has to perform and create a powerful use case and validity for their token. Time will tell I suppose and one can only wait it out. Currently the Hi token trades approximately $200k per day, which indicates that despite free daily tokens, there are actually buyers in the market.
The referral program is pretty decent as well, which rewards you 0.5 Hi of every 1 Hi earned by your referrals. This can also add up over time. As I mentioned earlier, zero investment required, compounded by a few seconds a day is worth the risk in my book. I would definitely advise you to do some research, even if you are only choosing to earn free Hi.
This is by no means investment advice but me simply sharing an opportunity that came across my path recently. Thanks for the read, see you soon!
If You Are Not Seeking Out Gems You Simply Won’t Find Them
It may sound rather obvious but unless you are actively seeking out altcoin gems, you are not going to find them. You need to be studying price action, market cap and other metrics in order to actually identify potential gems. How else will you be able to spot them? Every now and again, when the market allows it, I go on a bit of a deep dive for potential altcoin gems. This will see me browsing through CoinGecko and some of the exchanges I utilize to find under the radar projects. I also use this time to see which projects are worthy of further investment and will add to existing positions if the conditions are attractive or even acceptable.
I was initially intrigued by Solana due to FTX adopting the blockchain. This encouraged me to begin investigating Solana, to see what might cause a leading name to choose SOL over ETH, BSC and other potential alternative blockchains.
What I discovered was rather impressive. Solana can process up to 50K transactions per second. At the time of writing my article on Solana, approximately 6 months ago, the average cost per transaction was $0.00001! The average fee at the time of writing this article is $0.00025, which is still super affordable. Scalability and cost efficiency are two of the most important factors to consider when seeking out a blockchain for mass adoption, or even just a significant user base. The ranking of Solana back then was 129, which when you consider that SOL just broke into the Top 10, only serves to confirm how this project has absolutely exploded in a matter of only 6 months.
I had initially thought that I had bought my first position of SOL at $3 but a dive into my history today revealed that it was actually approximately $0.24! In hindsight I sincerely wish I had bought more but at least I did manage to secure a position at those levels and am still hodling.
During the early days of FTX, the project formed a strong relationship with Binance, which they later u-turned on. This was one of the most important signs for me, as most projects will endeavor to leverage the Binance name in order to gain traction and rise to prominence. The move by FTX displayed that not only were they not that interested in riding the Binance wave but that FTX was actually challenging Binance for dominance. FTX was indeed aiming very high and they were choosing to build their DEX on Solana. Sam would need to have a lot of confidence in Solana if he was using it as the base layer to Serum as he challenged Binance for supremacy.
When you look at what the Solana blockchain is capable of and that big players such as Sam from FTX have chosen it as a base layer, it becomes pretty obvious that there is a bright future ahead. Assessing these facts and fundamentals lead me to take a very strong view in regard to Solana and Solana based projects such as Raydium, which I also wrote about 6 months ago.
The typical effect is now busy playing out on the top projects built on Solana. After DOT pumped, the projects built on DOT followed, such as Kusama and others. We are now seeing both Raydium and Serum pumping in excess of 30% today.
Congrats to my readers that chose to invest in Solana 6 months ago. To the content creators busy scrambling to push out content about Solana now, all the best! Thanks for reading.