Bear market could wipe out your shitcoin, be more careful of what you buy in this builders market
Hello Hive
The same way weak hands fall out during Crypto bear, weakcoins also go extinct.
Investing in Crypto may appear to be the easiest thing ever until you watch your tokens or its net worth go down the drain.
You don't just wake up and buy any tokens or a coin you hear people hyping on twitter that it is going to make a 10X gain in few months, there is just a whole lot you need to know before buying a token unless you are ready to buy what they call a shit coin.
Until date I can say that I haven't gotten much knowledge about coins even after spending 2years on hive.
And maybe because hive has spoiled me through their blog to earn where we acquire more hive tokens I didn't bother to check, invest or read more about other tokens or if these tokens have some good potentials.
I have picked some tiny bits of the almighty bitcoin, ether and BNB, whatever happens I believe in this for now on no basis at all but that bitcoin and ether are the first two Crypto token.
I also heard of defi tokens but the only ones I have picked and have been farming is the defi tokens on hive, Cubsperforming ubs, maybe I could drop by to see how they are performing in this bear market, literally most times I just buy and lock tokens till I hear some goodness around them.
Shitcoins/weak tokens gets washed down the drain during a bear market, prices go down so low until they are worth nothing right.
It is a common thing to hear that folks lament how they have invested in these shit coin or lost their money.
How can a token crash
What happens before they go into extinction
And how do we recognize if they were never genuine tokens for investment in the first place.
My first near experience was that Luna crash, some tokens could even crash even if it is not a bear market season.
So my basic questions still remains on how can we recognize a shitcoin or tokens tokens not worth investing in.
What should we lookout for?...
Sometimes in a quest to pick some tokens at their cents ir below the cents value we pickup some shitcoin, these are usually newly created tokens and we make little or no research behind their owners and developers.
Every quality engagement about my enquiries regarding shitcoins will be highly appreciated.
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Weakcoin really weak my soul last year and this year, safe mooncash, little rabbit, babydoge and others like other that about 10 with few shitcoins some of this project has even crashed💔, which is the reason behind me and some of my guys brokenness because we don't bother to do much serious research about those coins we've believe in the hype too much... How i wish everyone could see @monica-ene comment and know the right thing to do before investing
So sorry to hear about that.
There are too many investment opportunity on hive alone that one can consider instead of any coin we have no idea about.
Buying and staking HP or HBD saving and others can earn one passive income...
Not a financial advice from me though...
I wish you well in the future investment dear...
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Look out for use case, I also consider how decentralized it is not many of them out there that offers what Hive, BTC, ETH offers.
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Okay.. That's a good point.
Hive is well known and useful in many occasion.
People also sell NFTs in hive token.
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I haven't gotten around venturing outside Hive and I'm in no rush. I will continue to play with these Hive tokens till i fully grasp the working mechanisms behind the making of a coin. I'm still as clueless as the day I was born. I'm sorry for your loss @iambamsun. That must have been really awful. The crypto space is a place for really strong minds tbh. And a lot of research too.
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