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Bitcoin and Crypto can be Super Attractive

Bitcoin Trading

THINKS I WISH I KNEW


Blockchain technology, bitcoin and crypto can be super attractive when you start to learn how it operates. Right? Crypto is even more alluring when you begin to find interesting projects. The whole crypto vision is alluring but sometimes the advantages can also turn against you. Especially if you aren’t being mindful about it.

Crypto Can Be Super Attractive

Attractions like lack of regulation from the state and decentralization are great, but that also means that there’s a lack of security.

As you begin to dig more into crypto you’ll find interesting projects that may look so attractive, and many more which look even super alluring, that you may not want to miss.

We all want to believe every interesting project may replicate the success of the first cryptocurrency, Bitcoin, and turn into a very successful project. So, we don’t want to take any chances and miss an opportunity. However, not all projects are up to the Bitcoin standards. And not all are successful.

Crypto can be Super Attractive

Learn From My Mistakes

Infact, I was nearly a victim of 2 crypto projects here in Nigeria, the first project was InksNation which was a blockchain project, built under the Ethereum blockchain.

Inksnation was a project that promised to eradicate poverty and bring everybody to crypto with their own cryptocurrency called Pinkcoin. But with less information about the project and the founder, I was still on the line to get involved with this project. The vision was so alluring. But then the project took a U-turn. Soon the founder was declared wanted by the Nigerian government for crypto theft.

The second promising project I almost joined was called Abitnetwork’s Tatcoin. Unlike the first project, Tatcoin was active but with no clear direction of where it’s going. Luckily my mentor steered me away from this one.

These 2 projects are just examples, there are several crypto projects that look very attractive but are not just worth your time and money. You may be wondering why not? Well, maybe because there are not just worth it.

Don’t Buy the Hype

Even though we know that risks are important and that some of these projects may defy the odds, consider the thousands of them that failed in the end.

Look past the attraction before investing in any crypto project and always do a thorough background check on any project you want to invest in or better still invest what you will be okay losing.

Another thing to consider before investing in a crypto project is asking the opinion of an expert in the industry, It saved me from buying Tatcoin, which by now is still $0.04 and has been on a downtrend forever.

If you’re struggling to choose a crypto project to invest in, drop a comment and ask for recommendations in one of our groups Investing and Trading.

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