Hello everyone! Today I would like to share a couple of the worst and most extinct cryptocurrencies in my opinion:
1. OneCoin - This cryptocurrency turned out to be one of the biggest financial pyramid schemes in history, defrauding thousands of investors around the world. OneCoin was shut down in 2019 after a massive investigation.
2. BitConnect - Another dubious cryptocurrency that promised incredible profits, but actually turned out to be a classic Ponzi scheme. BitConnect ceased operations in 2018 after regulatory intervention.
3. Verge (XVG) - This cryptocurrency, which positioned itself as anonymous, had serious security and privacy issues that led to its downfall.
4. Dentacoin (DCN) - A cryptocurrency created for the dental industry, could not find widespread use and popularity among users.
These and other similar projects are a prime example of why it is important to thoroughly research cryptocurrencies before investing.
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What will happen to the TON cryptocurrency after the arrest of Pavel Durov
The Toncoin cryptocurrency, which is used for transactions in Telegram, has fallen by 17% since August 24. The reason is the arrest of the founder of the messenger Pavel Durov at the French airport Le Bourget. How can the collapse of TON affect the Telegram ecosystem, payments within the platform and what will happen to the cryptocurrency rate?
The founder of the Telegram messenger Pavel Durov was arrested in France on the evening of August 24. According to TF1, the authorities accuse the billionaire of complicity in drug trafficking, crimes against children and fraud.
They consider the lack of moderation of the messenger and refusal to cooperate with law enforcement agencies in France as grounds for the accusation. The publication also says that the claims were caused by Telegram tools that help hide the identity and actions of the user - cryptocurrencies and anonymous virtual numbers for linking an account.
The Paris prosecutor's office said in a statement to journalists published on its website that Durov was questioned as part of an investigation into an unnamed individual in connection with multiple cybercrimes.
What do you think about the future of Ton Coin($TON )?
Little-Known Past Cryptocurrencies With Huge Profits
And here are these cryptos:
1. Solana ($SOL ) - high-performance blockchain platform. Growth from $0.8 to $260 in 2021 (+32400%).
2. Axie Infinity ($AXS ) - gaming cryptocurrency for the metaverse. Rise from $0.6 to $165 in 2021 (+27400%).
3. Gala ($GALA) - a token for the gaming metaverse. Increased in price from $0.007 to $0.83 in 2021 (+11700%).
4. Polygon ($MATIC) - scalable solution for Ethereum. Growth from $0.018 to $2.92 in 2021 (+16000%).
5. Sandbox ($SAND) - metaverse on the blockchain. Rise from $0.04 to $8.4 in 2021 (+20900%).
These little-known cryptocurrencies at the beginning of 2021 showed crazy growth thanks to promising technologies and high demand. However, be aware of the high risks in this area.
1. Bitcoin ($BTC ) - digital gold, an inflation-protected asset for savings and investments.
2. Ethereum ($ETH ) - the basis for DeFi, NFTs, metaverses and smart contracts. Huge application potential.
3. Chainlink ($LINK ) - provides connection of external data to blockchains, necessary for DeFi and IoT.
4. Polkadot ($DOT) - combines many blockchains into a single network for exchanging data and assets.
5. Filecoin ($FIL) - decentralized cloud data storage with economic incentives.
These cryptocurrencies solve real-world problems and provide useful functionality in the areas of finance, web3, cloud computing and internetworking. Explore their application to investment selection.
What do you think about these cryptos?
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1. Satoshi Nakamoto is the mysterious creator of Bitcoin, whose identity has not yet been revealed. Abandoned the project at an early stage.
2. Gavin Andresen - former leader of Bitcoin Core. Supported the fraudulent project SegWit2x, split with the team.
3. Craig Wright - self-proclaimed "Satoshi Nakamoto". Repeatedly caught in lies and fraud.
4. Dan Larimer - founder of EOS, BitShares and Steem. Accused of code plagiarism and unfair development.
5. Justin Sun - creator of Tron. Criticized for plagiarism, White Paper fraud and over-promising.
These individuals have damaged the industry with their actions and statements. However, crypto is a decentralized system that does not depend on individuals.
What do you think about these individuals?
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1. Bitcoin ($BTC ) is the first and most famous cryptocurrency, launched in 2009. High capitalization and liquidity.
2. Ethereum ($ETH ) - blockchain for smart contracts and DeFi, founded in 2015. Wide application.
3. Litecoin ($LTC ) - one of the oldest cryptocurrencies since 2011. Fast and cheap transactions.
4. Ripple (XRP) - payment system for banks, launched in 2012. High transaction speed.
5. Dogecoin (DOGE) is a popular meme coin since 2013. Active community and low fees.
These projects have proven their viability and have a great influence in the crypto industry. However, always diversify your investments and explore new promising projects.
What do you think about these projects?
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1. BitConnect is one of the largest cryptocurrency pyramids that deceived investors out of $2.6 billion. It promised unrealistic returns of up to 40% per month.
2. OneCoin - a $4 billion scam posing as the "Bitcoin killer." The founders were arrested.
3. PlusToken - Chinese $3 billion pyramid scheme with fake wallet and token. The organizers fled.
4. iFan and Pincoin - two related scams from Stephen Sizer that defrauded investors of $600 million.
Due to character restrictions, other projects are omitted. Remember: if they promise unrealistic returns, it is most likely a scam.
Two little-known cryptocurrencies that took the heat
And here are these cryptos:
1. Gala ($GALA ):
• Gaming cryptocurrency and Gala Games platform.
• In November 2021, the price of GALA soared from $0.03 to $0.83 (an increase of 2600%).
• Focus on money-making games (GameFi) and metaverses.
• Partnerships with famous games and franchises.
2. Chiliz ($CHZ ):
• Socios platform token for sports club fan tokens.
• In March 2021, CHZ rose in price from $0.01 to $0.89 (an increase of 8800%).
• Partnerships with top football clubs and leagues.
• Fans can influence club decisions through tokens.
Gala and Chiliz were little-known projects, but thanks to unique ideas and partnerships they were able to attract the attention of investors and show impressive growth.
However, it is worth remembering the high risks and volatility of the cryptocurrency market. Diversification of investments is extremely important.
What do you think about these cryptos?
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Comparison of margin trading and futures in crypto
1. Margin Trading:
• Allows you to open positions with leverage.
• Greater risk of loss due to high leverage.
• Suitable for short-term trading and speculation.
• Available on most crypto exchanges.
2. Futures:
• Contracts for the purchase/sale of an asset in the future at a fixed price.
• Less risk as positions have an expiration date.
• Suitable for hedging and speculation.
• Available on specialized exchanges (Binance Futures, FTX, Deribit).
Instructions:
• Understand the risks and features of each tool.
• Choose a reliable exchange with low fees.
• Use stop losses to limit losses.
• Do not open positions with maximum leverage.
• Diversify your investments.
Follow the news and analyze the market. Margin trading and futures require caution and an understanding of the risks, but can be profitable if done correctly.
What is closer to you?
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To successfully invest in cryptocurrencies you must:
1. Study the projects and their development teams.
2. Assess the history and reputation in the crypto market.
3. Diversify investments. Don't invest everything in one project or coin.
4. Use reliable crypto exchanges. Popular: Binance, Coinbase, Kraken.
5. Store cryptocurrency in secure wallets.
5. Hardware wallets are recommended.
6. Follow news and project updates.
7. Monitor new features and integrations.
8. Invest for the long term.
Cryptocurrencies are volatile, but have growth potential. By studying the market and investing in promising projects, you can profit from the growing popularity of cryptocurrencies.