Disclaimer: Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor. ICO's, IEO's, STO's and any other form of the offering will not guarantee a return on your investment.
Source
This season is the alt season in crypto world. Since last month, many coins floated on the arena which they all have the same idea. According to my observation, once the Safemoon came out with the following idea:
SafeMoon Protocol
SafeMoon employs 3 simple functions: Reflection + LP acquisition + Burn In each trade, the transaction is taxed a 10% fee, which is split 2 ways.
- 5% fee = redistributed to all existing holders
- 5% fee is split 50/50 half of which is sold by the contract into BNB, while the other half of the SAFEMOON tokens are paired automatically with the previously mentioned BNB and added as a liquidity pair on Pancake Swap.
Source
All other coins came up with the same idea, but with different proportions, and all of them are BEP20 tokens built on BSC (Binance Smart Chain). Starting with SafeMoon, currently, the team would like to provide some Defi solutions through their exchange and other concepts. I am not sure what those solutions are as we do not have enough information. However, few days ago, they posted a picture about alike debit/credit card on twitter which is one idea of 10:
Seemingly, they are working on exchanges listing (few days ago it was listed on ZBG.com exchange). Many incidents happened few days ago such as FUD campaign on the project, calling it as a scam due to unlocked liquidity (which later on locked). Some people referred to it as another Bitconnect (Ponzi scheme), but basically if it is scam why would they reveal themselves. Moreover, they are not fool to do that. If I am in their shoe and planned to ghost the audience of the project, I would reconsider that idea due to the massive marketing by the audience of that project LOL. In general, the project seems legit/genuine until now. While I am writing this post, they must be showing their wallet right now.
How about SafeMars?
SafeMars is apparently a cloned copy of SafeMoon with some little differences such as the burning proportion. In my opinion, they weren’t really serious in that until they saw how their audience are craving to make this project real. So, they revealed themselves. You can go to their website at safemarscrypto.com and check that out (they have 350k holders until). Currently, I don’t see any value in that project. I mean no reason to invest in it.
How about the other “Safe” coins?
Well, If I am going to invest in these shitcoins (excluding SafeMoon), I am choosing SafeMars. Personally, I don’t really trust other projects as they don’t demonstrate a valuable vision. Even their whitepapers could not convince me to invest.
SHBA Token (ERC-20 Token)
This coin is called “Dogecoin Killer”. First question: How can SHIBA kill Dogecoin? This does not make any sense. Thinking of it why would I prefer SHIBA rather than Dogecoin which has more popularity as it is shitcoin as well. Listing it on well-known trusted exchange such as Poloniex does not necessarily give it a value. Those types of coins are only created for pumps and dumps. If you accumulated some of it, you could lose it or gain profits, but you cannot call it an investment due to no goal to accomplish (no vision).
But All coins pumped and became expensive I cannot buy
First of all, keep FUD away. Secondly, they are many hidden gems out their and you still can invest. One of the obvious ones is Cardano (ADA). In my opinion, I believe that it going to reach moon once smart contracts feature becomes available. Furthermore, there will be fierce competition between it and Ethereum (ETH) in terms of DEFI projects, smart contracts, tokenizing, and so on. You have Polygon (MATIC), Holo (HOT) which is kind of slow in terms of its development, but worth, Basic Attention Token (BAT) powered by Brave, and even Hive!
All these coins are underrated until now but inevitably they will reach moon. Nonetheless, you still can invest in Ethereum and Bitcoin with a small amount of money (it is not necessary to buy one full coin, you still can buy fractions) if you believe what I believe, or most people believe. Ethereum is going to reach 10k dollars, and Bitcoin to 100k.
Back to the “safe” coins they will reach moon because there is an unspecific amount of them are burned everyday due to transactions
So what? Ethereum’s total supply is 115m and currently its price is around $2.9k. another example is dogecoin’s total supply is 129B and now its price is $0.38 according to CMC (CoinMarketCap). Hopefully, this clarifies what I am trying to say here.
Conclusion
People still think that having any cryptocurrency = richness in the near future. If so, everyone will become rich. In the next years, most of these coins will disappear due to not giving or having a real value (I think this will happen in between 2025-2029). Coins who give value are created to stay. Obviously, decentralization and smart contracts opened new opportunities for scammers as well as making some people rich like Safemoon’s and Safemars’s early buyers (adopters). What I wanted to say is look for value. invest in a project that provides a solution which can maintain a long-term value. Dig and find the hidden gems before other many people find them out. Then, INVEST!
Just before I end this, watch how people can be scammed due to their foolishness.
TikToker makes ‘scamcoin’ as a joke and within an hour it’s worth ~$70mln lmao. pic.twitter.com/dmEAdNUG6Z
— TikTok Investors (@TikTokInvestors) April 22, 2021
Peace.
K2X
Where The K impersonates the X.
Posted Using LeoFinance Beta