How to Spot & Avoid Common Bitcoin Scams Paxful Blog
How to Spot & Avoid Common Bitcoin Scams Paxful Blog
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You've been probably reading the news about all those kids who manage to become filthy rich simply by investing in Bitcoin in 2013. News like these usually make me feel mad because I missed the chance to buy Bitcoin when one of my friends told me that I should invest in Bitcoin back in 2014. Now the Bitcoin seems more like a gold mine rush because everybody thinks that he would be able to make millions easily. If you are like one of those people who want to make a quick buck on cryptocurrency, I advise you stop. You lost the game here. There's no easy money to be made on the crypto market anymore. Here's Why Making Money On Cryptocurrency Will Become Harder In 2018 The market is oversaturated with cryptocurrency traders. There're people who are going to take your money because you simply don't know the game good enough. Right now the whole market cap is crushing and in order to make profits, you need to be really smart. Let's say you want to buy Cardano at its current price of $0,45 per coin. You see the graph and you notice that Cardano used to cost $0.77 a few weeks ago, and you are like maybe Cardano will go up again, and you buy Cardano. Who sold you the coin? Is it the exchange itself? Is it Binance who sold you the coin? The answer is no! You bought the coin from people who already were holding the coin. They got the coin before the coin hit the exchange. They bought it dirt cheap on ICO presale level and they sold it to you 20x or even 30x the ICO price. If you know some good coins that are already listed on coinmarketcap.com Stop there! It is usually too late to acquire them because somebody both them a few years ago. Usually, those are the people who joined the ICO presales or the team members of the blockchain project. Cryptocurrency market is very dynamic and people got hyped easily. So what should you do instead if you want to still benefit from the cryptocurrency market? This what I am also doing... Be the one who buys the coin first! Go online and start researching cryptocurrency projects that are up to launch an ICO and start following their social media. There are few major important things that I am looking for: Factor #1 The Main Lesson From A Coin That Cost Less Than $1 in 2015 And Reached $1,389 In Less Than 3 years! Every cryptocurrency project needs a strong team of developers. They'll be the one who would create the project. Also, I'm trying to invest my ETH into projects that have young teams. Many of the successful crypto projects have very young teams. For example, the founder of Ethereum Vitalik Buterin started the project when he was in his early twenties. The cost of Etherium hit $1,389 at its peak, and back in 2015, an Ethereum cost less than $1. Is there a chance to found the next Vitalik Buterin? Just look for a young enthusiastic team. Factor #2 Good Marketing And Big Idea Whenever I invest in a project I aim to go with the idea that is practical. I don't invest in projects that I don't understand. I will visit the website and the social media to see if the team has good marketing. If I like the website and the idea I would go to the Telegram channel of the project. You can learn a lot just by visiting a Telegram chat. I would ask a few questions to see if the team is responding. I used to think that the size of the Telegram group would matter, but there are a lot of ways to invite fake bots to a Telegram chat. So I would stay away from a group that has way too many unresponsive chat visitors. Factor #3 ICO That Is Going To Make You Money vs ICO That Is Trying To Steal Your Hard-Earned Money I do internet marketing for 4 years now. Whenever I go to a blockchain website I notice that a big majority of the projects don't have a long-term vision. They are all about raising money with the ICO. I am just curious what happens next? So, I usually read the whitepaper, try to find out if they have set a road map. Usually, they have that stated on the website under a "Road Map". So, I look for projects that have a long-term vision. It is very hard to see ROI in less than two years. I think this is the reasonable cycle. ICO Projects You Should Consider I am not a financial advisor. However, I did a great deal of thinking and researching ICOs. I am going share a list the top 3 ICOs that I personally invested in and I intend to invest in once the ICO is out for a presale.
I invested in Rentberry earlier this year. They already had a solid base of customers and they're building a decentralized home rental platform. Based in the USA, the team is supercool. They raised 30M, unfortunately if you want to invest now the project ICO project is already closed.
CrowdMachine has a very good idea. Their project aims to develop a system that requires no coding, enabling anyone to create decentralized apps and smart contracts without limitation. So basically, with CrowdMachine everybody will be able to create a blockchain without knowing how to code. This ICO start early April.
Cryptopus might be a long shot. However, back in 2013 Etherium was a very long shot as well. This Russian ICO develops a blockchain brokerage marketplace. I personally know the team because once I stumble upon the project, I wanted to be a part of it, and I joined as an advisor. In Conclusion: If you are looking for a coin that has a huge potential you might want to take a look at Cryptopus and CrowdMachine. CrowdMachine has a BIG idea and might change the blockchain game forever. ICO is out soon so definitely worth following. Cryptopus has a very cool young team and amazing advisors on the board. ICO is currently ON! Could Cryptopus be the next Ethereum? We are about to see!
However, most of the platform has a minimum transaction size, for example Binance instant buy requires min 10 USD to buy. If you still don't have bitcoin, click below and buy some to protect your future. Also you are welcome to visit other articles to learn more about bitcoin and cryptos. Is bitcoin ASIC mining profitable anymore? Bitcoin Mining Rewards . The first 18.5 million bitcoin have been mined in the ten years since the initial launch of the bitcoin network. With only three million more coins to go, it might appear ... Below are some common types of bitcoin scams that we often encounter and scams specific to peer-to-peer bitcoin marketplaces. Cloud mining scams. In the very beginning, there were not many people in the mining scene, so mining was extremely profitable. But now with new and bigger players entering the market with more powerful equipment, mining ... In January 3, 2009, Satoshi Nakamoto gave rise to the “Bitcoin Blockchain”, creating the first block of the chain hashing on his computer’s central processing unit (CPU). Since then, the hash calculations to mine Bitcoin have been getting more and more complex, and consequently the mining hardware evolved to adapt to this increasing difficulty. Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain. Bitcoin mining can still make sense and be profitable for some individuals. Equipment is more easily obtained, although competitive ASICs cost anywhere from a few hundred dollars up to about ... What is Bitcoin Mining Summary. Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain.Mining is done by running extremely powerful computers called ASICs that race against other miners in an attempt to guess a specific number.. The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted ... You can definitely still mine bitcoin, the question is whether or not it will still be profitable for you to do so. Bitcoin actually has very interesting economics with respect to its mining. It used to be the case that bitcoin would reward miners with 50 bitcoin per block. In today’s terms that is about half a million dollars per block. Bitcoin mining used to occur and for less than a handful of sectors did them. However because the rise of bitcoins got here into the market, a whole lot of sensible considerations needed to mine their bitcoins. It’s now a practical and business degree enterprise for the folks. The straightforward cash that was out there again then is just not there anymore. Which means as you go deep into ... The scale of which Bitcoin mining has become has resulted in solo mining becoming nearly impossible to obtain Bitcoins. The competition in the lottery is immense, and you may be better off actually playing the lottery. Antminer S17 Miner (Source: 99bitcoins.com) In addition, due to the efficiencies of scale, the cost of mining at home just don’t add up anymore. The investment in computer ...
Is Bitcoin mining worth it in October 2018...BTC mining in 2018
Bitcoin mining isn't profitable anymore, miners are turning off their rigs, China runs Bitcoin mining, Bitcoin will soon be dead! Sounds familiar right? Let's discuss the latest research from ... Bitcoin mining farms and warehouses and how much they make by mining bitcoin on there bitcoin mining rigs or asics. If you want to learn more about btc mining a link to a E-book is down below! BTC mining ASICs from China profitability in 2018....Bitcoin mining at home is profitable or not profitable? Bitcoin mining farms like the ones in China are getting profitable hashrates with there ... #bitcoin #cryptocurrency #cryptocurrencynews Is Bitcoin mining worth it in October 2018....Should you mine bitcoin in October of 2018 using bitcoin asic mine... Learn Step By Step how you can successfully withdraw bitcoin from your binance account into your wallet. Don't forget to give this video a thumbs up if your enjoyed it. Binance Pool has received mixed responses from the crypto community, with some commentators expressing concerns that Binance's pool will result in a further centralization of Bitcoin ( BTC ) hash ... http://minelikeaboss.com - HOW ARE THEY MINING CRYPTO PROFITABLY? Mining have access to the cheapest electricity in the world in Kazastan. The 3 digging ditc...