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Crypto Scam: Fake Telegram channels of well-known exchanges or projects
Telegram continues to gain popularity among crypto enthusiasts, so we want to warn you about one rather dangerous fraud scheme.
Attackers can convincingly reproduce the Telegram channel of a well-known exchange. They copy posts, maintain the channel for a long time, and even gain a similar number of subscribers as the official channel. After that, they start mailing to real subscribers with any kind of scam from drawing cash prizes to entering a seed phrase for crypto wallets.
Be careful and always check whether you are in contact with the official account of an exchange or a fake one. (Remember official channels never DM you first!) $BTC
Telegram continues to gain popularity among crypto enthusiasts, so we want to warn you about one rather dangerous fraud scheme.
Attackers can convincingly reproduce the Telegram channel of a well-known exchange. They copy posts, maintain the channel for a long time, and even gain a similar number of subscribers as the official channel. After that, they start mailing to real subscribers with any kind of scam from drawing cash prizes to entering a seed phrase for crypto wallets.
Be careful and always check whether you are in contact with the official account of an exchange or a fake one. (Remember official channels never DM you first!) $BTC
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The way blockchains are changing the world: decentralized social networks.
The beauty of blockchain technology lies in its ability to create a decentralized system that provides privacy, data control, and monetary rewards for its users.
Blockchain-based decentralized social media platforms based takes away the monopoly of giant technology corporations over user data. Users will no longer have to worry about their data being collected or sold without their knowledge or consent.
Instead, blockchains return the power to users, who can control how and to whom their data is transferred or sold. In addition, these platforms can offer rewards in the form of tokens, stimulating user participation and the creation of high-quality content.
Ultimately, blockchains can not only change but also revolutionize the world, starting with social networks.
Decentralized platforms can help create a securer, more transparent and more inclusive digital environment. $BNB #bitcoin
The beauty of blockchain technology lies in its ability to create a decentralized system that provides privacy, data control, and monetary rewards for its users.
Blockchain-based decentralized social media platforms based takes away the monopoly of giant technology corporations over user data. Users will no longer have to worry about their data being collected or sold without their knowledge or consent.
Instead, blockchains return the power to users, who can control how and to whom their data is transferred or sold. In addition, these platforms can offer rewards in the form of tokens, stimulating user participation and the creation of high-quality content.
Ultimately, blockchains can not only change but also revolutionize the world, starting with social networks.
Decentralized platforms can help create a securer, more transparent and more inclusive digital environment. $BNB #bitcoin
ترجمة
❓ What to do for a beginner investor
1️⃣It's worth saving 10-20% of your income and investing it.
2️⃣Read books on investing (you can listen to them on YouTube) - "The Intelligent Investor," "One Up On Wall Street" by Peter Lynch, "The Richest Man in Babylon," "The Warren Buffett Way."
3️⃣Avoid speculation; instead, focus on long-term investments (10-20-30 years).
4️⃣Investing 5-100 dollars every month with a 20% annual return will result in a capital of $3.2 million in 30 years.
5️⃣Divide your portfolio into several parts for diversification:
🟡 Safe instruments (Bonds) - 10-20% of the portfolio
🟡 Dividend stocks (4-7% in dollars) + some growth in stock value - 20% of the portfolio
🟡 Growth stocks (higher risks and potential profits) - 30% of the portfolio
🟡 ETFs on gold, pharmaceutical companies, the technology sector - 20-30% of the portfolio
🟡 Conditional startups like Virgin Galactic that could multiply by x10 in 3-7 years - 10-20% of the portfolio
🟡 This way, we create a balanced portfolio that won't crash even during strong downturns, unlike investing "all-in" in stocks like Tesla.
6️⃣IPO - It makes sense to invest if you have capital starting from $20,000. #BTC $SOL $BTC
1️⃣It's worth saving 10-20% of your income and investing it.
2️⃣Read books on investing (you can listen to them on YouTube) - "The Intelligent Investor," "One Up On Wall Street" by Peter Lynch, "The Richest Man in Babylon," "The Warren Buffett Way."
3️⃣Avoid speculation; instead, focus on long-term investments (10-20-30 years).
4️⃣Investing 5-100 dollars every month with a 20% annual return will result in a capital of $3.2 million in 30 years.
5️⃣Divide your portfolio into several parts for diversification:
🟡 Safe instruments (Bonds) - 10-20% of the portfolio
🟡 Dividend stocks (4-7% in dollars) + some growth in stock value - 20% of the portfolio
🟡 Growth stocks (higher risks and potential profits) - 30% of the portfolio
🟡 ETFs on gold, pharmaceutical companies, the technology sector - 20-30% of the portfolio
🟡 Conditional startups like Virgin Galactic that could multiply by x10 in 3-7 years - 10-20% of the portfolio
🟡 This way, we create a balanced portfolio that won't crash even during strong downturns, unlike investing "all-in" in stocks like Tesla.
6️⃣IPO - It makes sense to invest if you have capital starting from $20,000. #BTC $SOL $BTC
ترجمة
Top 5 Cryptocurrencies to Watch on Binance in May 2024
Here are my Top strong crypto currency coins you should watch on Binance and buy as soon as possible: #CryptoWatchMay2024
1. RENZO ($REZ )
insight about Renzo (REZ) :
Renzo is a Liquid Restaking Token (LRT) and Strategy Manager designed for the EigenLayer ecosystem. Renzo acts as an interface between users and EigenLayer, allowing for easier participation and potentially higher yields than staking Ethereum directly.
Key points about Renzo (REZ):
Price: $0.19 (as of May 4, 2024) It has seen a significant increase of over 20% in the last 24 hours.
Circulating Supply: 1.15 billion REZ tokens, with a maximum supply of 10 billion. $REZ
Trading:
Renzo is tradable on several cryptocurrency exchanges, including Binance, LBank, and Bitget.
Things to consider:
Renzo is a relatively new cryptocurrency with a limited track record.
The EigenLayer ecosystem is a developing technology, and its success is not guaranteed.
The cryptocurrency market is volatile, and the price of Renzo could fluctuate significantly.
2. Solana ($SOL ) Insights (as of May 4, 2024)
Insight on Solana (SOL)
Solana is a well-established blockchain platform known for its high transaction speeds and scalability. Here's a breakdown of some key points to consider:
Strengths:
1. Speed and Scalability: Solana boasts fast transaction processing, capable of handling thousands per second, making it attractive for DeFi applications and NFTs.
2. Growing Ecosystem: The Solana ecosystem is thriving with a rising number of DeFi protocols, NFT marketplaces, and dApps built on its platform. This can lead to increased demand for SOL tokens.
3. Recent Price Increase: SOL has shown positive price trends recently, potentially indicating renewed investor confidence.
4. Total Value Locked (TVL): Solana's TVL, representing the total value of crypto assets locked in its DeFi protocols, has been on the rise, reflecting growing DeFi activity.pen_spark.
Weaknesses:
Transaction Fee Increase: While still lower than some competitors, Solana has seen a significant rise in transaction fees in recent months, which could impact user experience. Centralization Concerns: Solana's consensus mechanism has been criticized for having a higher degree of centralization compared to some other blockchains.
Network Outages: Solana has experienced occasional network outages in the past, raising concerns about its stability.
Solana SOL price analysis :
Solana price analysis shows that SOL has experienced a noticeable upturn, reflecting a broader recovery in the cryptocurrency market. Today, the price of SOL has reached $$143.93, $SOL
marking a 4.92% increase over the last 24 hours.
This surge aligns with a modest recovery across major cryptocurrencies, driven by easing geopolitical tensions and the recent Bitcoin halving.
3. Binance Coin ($BNB ) Insights
Insight on BNB
Binance Coin (BNB), recently rebranded as "Build and Build," is the native token of the Binance ecosystem, one of the world's largest cryptocurrency exchanges. Here's a look at some key aspects of BNB:
$BNB
Strengths:
Utility: BNB has a wide range of uses within the Binance ecosystem, including:
Discounted Trading Fees: Holding BNB grants users discounts on trading fees on the Binance exchange.Participation in Launchpad & Launchpool: BNB is required to participate in token sales on Binance Launchpad and Launchpool platforms.
Payment for Various Services: BNB can be used to pay for travel bookings, transaction fees on the BNB Chain, and other services within the Binance ecosystem.Demand and Scarcity: The total supply of BNB is capped at 200 million tokens. Binance also conducts regular token burns, which reduces the circulating supply and potentially increases the value of remaining tokens. Recent Price Performance: BNB has shown impressive growth recently, surging over 16% in the last 30 days and over 100% year-to-date [Analytics Insight].
Strong Brand Affiliation: Being backed by the reputable Binance exchange boosts BNB's credibility and adoption.
Weaknesses:
Regulatory Risk: The cryptocurrency market is subject to evolving regulations, which could potentially impact the use and value of BNB.
Competition: Several other cryptocurrency exchanges offer their own tokens with similar functionalities, creating competition for BNB.
Dependence on Binance: The success of BNB is heavily tied to the performance of the Binance exchange.
Overall, Binance Coin (BNB) is a well-established cryptocurrency with a strong use case within the Binance ecosystem. Its limited supply and affiliation with a major exchange are positive factors. However, regulatory uncertainties and competition are important considerations.
4. Litecoin ($LTC) Insights
Litecoin (LTC), often dubbed "the silver to Bitcoin's gold," is a well-established cryptocurrency known for its faster transaction speeds and lower fees compared to Bitcoin. Here's a breakdown to help you understand LTC's potential:
Strengths:
Proven Track Record: Launched in 2011, Litecoin boasts a long history in the cryptocurrency space, making it a trusted option for some investors.
Faster Transactions: Compared to Bitcoin, Litecoin offers faster block times (2.5 minutes vs. 10 minutes), enabling quicker and cheaper transactions.
Scalability: Litecoin's design allows for more transactions per second compared to Bitcoin, making it potentially more scalable for future growth.
Recent Positive Momentum: LTC has shown some positive price movements recently, with analysts suggesting potential for further growth.
5. Uniswap Insights
Uniswap is a prominent player in the Decentralized Finance (DeFi) space, known for its pioneering role in Decentralized Exchanges (DEXs). Here's a look at Uniswap's key aspects
Strengths:
Decentralized Exchange: Uniswap operates as a DEX, meaning it facilitates peer-to-peer cryptocurrency trading without relying on a central authority. This offers greater transparency, security, and censorship resistance.
Automated Liquidity Pools: Uniswap utilizes automated liquidity pools (AMMs) instead of traditional order books. Users contribute crypto assets to these pools, and the AMM algorithm facilitates trades based on pre-defined formulas.
Wide Token Selection: Uniswap boasts a vast selection of tradable tokens, including established cryptocurrencies and emerging DeFi tokens. This caters to a diverse range of user needs.
Weaknesses:
Potential for Impermanent Loss: Liquidity providers on Uniswap can experience impermanent loss if the prices of the assets they contribute to a pool fluctuate significantly.
Security Risks: Smart contract bugs or exploits could pose security risks to user funds deposited on the platform.
High Gas Fees: Depending on network congestion, users might encounter high gas fees for transactions on Uniswap, especially during periods of high trading activity.
Overall, Uniswap is a leading DEX with a strong reputation for innovation and a vast user base. Its decentralized nature and wide token selection are attractive features. However, understanding potential risks like impermanent loss and gas fees is crucial.
1. RENZO ($REZ )
insight about Renzo (REZ) :
Renzo is a Liquid Restaking Token (LRT) and Strategy Manager designed for the EigenLayer ecosystem. Renzo acts as an interface between users and EigenLayer, allowing for easier participation and potentially higher yields than staking Ethereum directly.
Key points about Renzo (REZ):
Price: $0.19 (as of May 4, 2024) It has seen a significant increase of over 20% in the last 24 hours.
Circulating Supply: 1.15 billion REZ tokens, with a maximum supply of 10 billion. $REZ
Trading:
Renzo is tradable on several cryptocurrency exchanges, including Binance, LBank, and Bitget.
Things to consider:
Renzo is a relatively new cryptocurrency with a limited track record.
The EigenLayer ecosystem is a developing technology, and its success is not guaranteed.
The cryptocurrency market is volatile, and the price of Renzo could fluctuate significantly.
2. Solana ($SOL ) Insights (as of May 4, 2024)
Insight on Solana (SOL)
Solana is a well-established blockchain platform known for its high transaction speeds and scalability. Here's a breakdown of some key points to consider:
Strengths:
1. Speed and Scalability: Solana boasts fast transaction processing, capable of handling thousands per second, making it attractive for DeFi applications and NFTs.
2. Growing Ecosystem: The Solana ecosystem is thriving with a rising number of DeFi protocols, NFT marketplaces, and dApps built on its platform. This can lead to increased demand for SOL tokens.
3. Recent Price Increase: SOL has shown positive price trends recently, potentially indicating renewed investor confidence.
4. Total Value Locked (TVL): Solana's TVL, representing the total value of crypto assets locked in its DeFi protocols, has been on the rise, reflecting growing DeFi activity.pen_spark.
Weaknesses:
Transaction Fee Increase: While still lower than some competitors, Solana has seen a significant rise in transaction fees in recent months, which could impact user experience. Centralization Concerns: Solana's consensus mechanism has been criticized for having a higher degree of centralization compared to some other blockchains.
Network Outages: Solana has experienced occasional network outages in the past, raising concerns about its stability.
Solana SOL price analysis :
Solana price analysis shows that SOL has experienced a noticeable upturn, reflecting a broader recovery in the cryptocurrency market. Today, the price of SOL has reached $$143.93, $SOL
marking a 4.92% increase over the last 24 hours.
This surge aligns with a modest recovery across major cryptocurrencies, driven by easing geopolitical tensions and the recent Bitcoin halving.
3. Binance Coin ($BNB ) Insights
Insight on BNB
Binance Coin (BNB), recently rebranded as "Build and Build," is the native token of the Binance ecosystem, one of the world's largest cryptocurrency exchanges. Here's a look at some key aspects of BNB:
$BNB
Strengths:
Utility: BNB has a wide range of uses within the Binance ecosystem, including:
Discounted Trading Fees: Holding BNB grants users discounts on trading fees on the Binance exchange.Participation in Launchpad & Launchpool: BNB is required to participate in token sales on Binance Launchpad and Launchpool platforms.
Payment for Various Services: BNB can be used to pay for travel bookings, transaction fees on the BNB Chain, and other services within the Binance ecosystem.Demand and Scarcity: The total supply of BNB is capped at 200 million tokens. Binance also conducts regular token burns, which reduces the circulating supply and potentially increases the value of remaining tokens. Recent Price Performance: BNB has shown impressive growth recently, surging over 16% in the last 30 days and over 100% year-to-date [Analytics Insight].
Strong Brand Affiliation: Being backed by the reputable Binance exchange boosts BNB's credibility and adoption.
Weaknesses:
Regulatory Risk: The cryptocurrency market is subject to evolving regulations, which could potentially impact the use and value of BNB.
Competition: Several other cryptocurrency exchanges offer their own tokens with similar functionalities, creating competition for BNB.
Dependence on Binance: The success of BNB is heavily tied to the performance of the Binance exchange.
Overall, Binance Coin (BNB) is a well-established cryptocurrency with a strong use case within the Binance ecosystem. Its limited supply and affiliation with a major exchange are positive factors. However, regulatory uncertainties and competition are important considerations.
4. Litecoin ($LTC) Insights
Litecoin (LTC), often dubbed "the silver to Bitcoin's gold," is a well-established cryptocurrency known for its faster transaction speeds and lower fees compared to Bitcoin. Here's a breakdown to help you understand LTC's potential:
Strengths:
Proven Track Record: Launched in 2011, Litecoin boasts a long history in the cryptocurrency space, making it a trusted option for some investors.
Faster Transactions: Compared to Bitcoin, Litecoin offers faster block times (2.5 minutes vs. 10 minutes), enabling quicker and cheaper transactions.
Scalability: Litecoin's design allows for more transactions per second compared to Bitcoin, making it potentially more scalable for future growth.
Recent Positive Momentum: LTC has shown some positive price movements recently, with analysts suggesting potential for further growth.
5. Uniswap Insights
Uniswap is a prominent player in the Decentralized Finance (DeFi) space, known for its pioneering role in Decentralized Exchanges (DEXs). Here's a look at Uniswap's key aspects
Strengths:
Decentralized Exchange: Uniswap operates as a DEX, meaning it facilitates peer-to-peer cryptocurrency trading without relying on a central authority. This offers greater transparency, security, and censorship resistance.
Automated Liquidity Pools: Uniswap utilizes automated liquidity pools (AMMs) instead of traditional order books. Users contribute crypto assets to these pools, and the AMM algorithm facilitates trades based on pre-defined formulas.
Wide Token Selection: Uniswap boasts a vast selection of tradable tokens, including established cryptocurrencies and emerging DeFi tokens. This caters to a diverse range of user needs.
Weaknesses:
Potential for Impermanent Loss: Liquidity providers on Uniswap can experience impermanent loss if the prices of the assets they contribute to a pool fluctuate significantly.
Security Risks: Smart contract bugs or exploits could pose security risks to user funds deposited on the platform.
High Gas Fees: Depending on network congestion, users might encounter high gas fees for transactions on Uniswap, especially during periods of high trading activity.
Overall, Uniswap is a leading DEX with a strong reputation for innovation and a vast user base. Its decentralized nature and wide token selection are attractive features. However, understanding potential risks like impermanent loss and gas fees is crucial.
ترجمة
⚠️ Hygiene Rules in the Crypto Space
Currently, the crypto market is like the "Wild West," which various scammers take advantage of. There are particularly many fraudulent schemes in crypto, especially in Telegram. If you are a newcomer, these rules will help you protect your assets:
1️⃣ DO NOT entrust your funds to anyone for management.
2️⃣ DO NOT transfer funds to anyone under any pretext.
3️⃣ DO NOT engage with unfamiliar tokens and DEXes (there are risks of compromising your wallet).
4️⃣ DO NOT mint NFTs from unfamiliar resources (there are risks of compromising your wallet).
5️⃣ DO NOT fall for information about listings on Binance and other exchanges if it's not from verified sources (any banners, posts, tweets can be faked in Photoshop).
6️⃣ DO NOT buy SCAM tokens, especially on DEXes like PancakeSwap, no matter what returns they promise you.
7️⃣ DO NOT open links from unfamiliar people (it's very easy to pick up a trojan).
8️⃣ DO NOT participate in IDOs/ICOs through unverified channels (there are risks of being scammed).
9️⃣ DO NOT participate in PUMPs organized by channels (only the admins of these channels profit from them).
1️⃣0️⃣ DO NOT enter your MetaMask (and others) wallet seed phrase on any websites (this gives scammers the ability to steal all your funds).
Currently, the crypto market is like the "Wild West," which various scammers take advantage of. There are particularly many fraudulent schemes in crypto, especially in Telegram. If you are a newcomer, these rules will help you protect your assets:
1️⃣ DO NOT entrust your funds to anyone for management.
2️⃣ DO NOT transfer funds to anyone under any pretext.
3️⃣ DO NOT engage with unfamiliar tokens and DEXes (there are risks of compromising your wallet).
4️⃣ DO NOT mint NFTs from unfamiliar resources (there are risks of compromising your wallet).
5️⃣ DO NOT fall for information about listings on Binance and other exchanges if it's not from verified sources (any banners, posts, tweets can be faked in Photoshop).
6️⃣ DO NOT buy SCAM tokens, especially on DEXes like PancakeSwap, no matter what returns they promise you.
7️⃣ DO NOT open links from unfamiliar people (it's very easy to pick up a trojan).
8️⃣ DO NOT participate in IDOs/ICOs through unverified channels (there are risks of being scammed).
9️⃣ DO NOT participate in PUMPs organized by channels (only the admins of these channels profit from them).
1️⃣0️⃣ DO NOT enter your MetaMask (and others) wallet seed phrase on any websites (this gives scammers the ability to steal all your funds).
ترجمة
#ScamRiskWarning My experience with Cryptocurrency Scams:
I got scammed on a Crypto ponzi scheme called Goldenspin.Life
if today is your first time hearing ponzi, A Ponzi scheme is a type of investment fraud that pays early investors with money from new investors to create the appearance of profitability.
The organizers of Ponzi schemes often promise high returns with little or no risk, but the money is usually not invested. Instead, the fraudsters use the money to pay earlier investors and may keep some for themselves. Telegram is good for learning in other ways, other people take advantage of it to scam others because it's hard to track footprint on telegram ones a scammer delete a chat history and blocks you; it'll look like you were chatting a ghost the whole time.
Let's go into details, I saw this Ponzi Scheme channel on telegram teaching subscribers how to make quick money by using a scripts posted by the admin. The admin post every morning new scripts on how to win the Casino Games with wining proof as while as withdrawal proof. As a hustler searching on the internet ways to earn money online, I fell for it and wanted to try my luck. the admin of this ponzi scheme channel guided me through with my minimum amount of $36 which I cashed out from my crypto wallet.
In morning, the first script was posted in the channel so, I followed and I won $2,000🤑 I kept playing to make more wins and I had about 🤑$50k Dollars after using his script for a week.
This Fraudster not alone post scripts on his telegram channel, but fake screenshot of private chats concerning people praising him for successful withdrawal so subscribers like me can be more convinced. it was late after I got to know about this tricks. it was time to withdraw my $50k from the pronzi scheme website but the site requested additional deposit for first time players to make successful withdraw which I refused because I have $50k on the site and why can't they deduct the requested money from it. As at today, their website isn't working anymore. I've lost my money. #ScamRiskWarning
I got scammed on a Crypto ponzi scheme called Goldenspin.Life
if today is your first time hearing ponzi, A Ponzi scheme is a type of investment fraud that pays early investors with money from new investors to create the appearance of profitability.
The organizers of Ponzi schemes often promise high returns with little or no risk, but the money is usually not invested. Instead, the fraudsters use the money to pay earlier investors and may keep some for themselves. Telegram is good for learning in other ways, other people take advantage of it to scam others because it's hard to track footprint on telegram ones a scammer delete a chat history and blocks you; it'll look like you were chatting a ghost the whole time.
Let's go into details, I saw this Ponzi Scheme channel on telegram teaching subscribers how to make quick money by using a scripts posted by the admin. The admin post every morning new scripts on how to win the Casino Games with wining proof as while as withdrawal proof. As a hustler searching on the internet ways to earn money online, I fell for it and wanted to try my luck. the admin of this ponzi scheme channel guided me through with my minimum amount of $36 which I cashed out from my crypto wallet.
In morning, the first script was posted in the channel so, I followed and I won $2,000🤑 I kept playing to make more wins and I had about 🤑$50k Dollars after using his script for a week.
This Fraudster not alone post scripts on his telegram channel, but fake screenshot of private chats concerning people praising him for successful withdrawal so subscribers like me can be more convinced. it was late after I got to know about this tricks. it was time to withdraw my $50k from the pronzi scheme website but the site requested additional deposit for first time players to make successful withdraw which I refused because I have $50k on the site and why can't they deduct the requested money from it. As at today, their website isn't working anymore. I've lost my money. #ScamRiskWarning
ترجمة
Don’t forget to diversify your stablecoins!
Many of you use stablecoins for a variety of purposes. But we want to remind you that stablecoins are not real dollars but cryptocurrency, and by using stablecoins, you bear standard cryptocurrency risks.
Yes, stablecoins, such as USD Coin (USDC), Tether (USDT), and Dai (DAI), have been around for a long time and have shown pretty stable results. However, even these coins aren’t impervious to depegging from the dollar’s exchange rate; the peg of the once popular UST stablecoin fell off a cliff amid the collapse of the Terra blockchain ecosystem and is now worth a paltry fraction of a cent.
Therefore, it is strongly recommended to remember to diversify your stablecoins: Divide them into equal parts between the most popular coins in this segment.
At the same time, finding a coin in the top 5 or top 10 in terms of capitalization does not mean that it is completely safe and reliable.
Always DYOR
if this post was helpful to you, please "Give Tips" I will appreciate
Many of you use stablecoins for a variety of purposes. But we want to remind you that stablecoins are not real dollars but cryptocurrency, and by using stablecoins, you bear standard cryptocurrency risks.
Yes, stablecoins, such as USD Coin (USDC), Tether (USDT), and Dai (DAI), have been around for a long time and have shown pretty stable results. However, even these coins aren’t impervious to depegging from the dollar’s exchange rate; the peg of the once popular UST stablecoin fell off a cliff amid the collapse of the Terra blockchain ecosystem and is now worth a paltry fraction of a cent.
Therefore, it is strongly recommended to remember to diversify your stablecoins: Divide them into equal parts between the most popular coins in this segment.
At the same time, finding a coin in the top 5 or top 10 in terms of capitalization does not mean that it is completely safe and reliable.
Always DYOR
if this post was helpful to you, please "Give Tips" I will appreciate
ترجمة
#ScamRiskWarning Crypto is an interesting opportunity for high-yield investments, but as we all know very well, the bigger the profit – the bigger the risk. Let's take a look at the possible risks involved in getting scammed.
My experience with cryptocurrency scams:
there is this crypto fraudulent investment website called Roits-energy.com which claims to invest in Oil and Gas and very promising to investors. The company claims to pays high profit to investors through crypto currency such as BTC and USDT. This crypto investment website (roit-energy.com) promised up to 7% percent profit returns on your investment after 7days period based on their investment plan. The minimum investment was $50 (50USDT) and above.
This fraudsters goes around telegram channels, chatting privately to attract investors to invest in their fraud company; the fraudster showed me his successful withdrawal he has made for the past few months and recent which convinced me the company was legitimate and then he advised me to subscribe a Basic plan at a minimum of $50 first before investing extra money into it. I invested a minimum of $50 into this company which I got excited about their returns after few days, it already looks like I'm a billionaire in my country😂🤑.
I saw my profit running up like a horse on my dashboard making me to reinvest😁 one thing this scammer didn't tell me was the withdrawal fees is going to be high which means I have to leave my invested money for some period of time to cover up my withdrawal fees. it was just insane fee charges🙄🥺 but I got encouraged😀
I kept my mind off it for sometime for it to grow and not long ago, I went back to this crypto invest website to check and found out that it's no longer working . I entered the address in the internet browser it keeps spinning and site can’t be reached.. before I noticed, this scammer has already blocked me on private chat on telegram;.....😭#ScamRiskWarning
How to minimize Risk:
- Invest only the funds you are ready to lose
- Use reliable wallets.
- Never share personal info.
My experience with cryptocurrency scams:
there is this crypto fraudulent investment website called Roits-energy.com which claims to invest in Oil and Gas and very promising to investors. The company claims to pays high profit to investors through crypto currency such as BTC and USDT. This crypto investment website (roit-energy.com) promised up to 7% percent profit returns on your investment after 7days period based on their investment plan. The minimum investment was $50 (50USDT) and above.
This fraudsters goes around telegram channels, chatting privately to attract investors to invest in their fraud company; the fraudster showed me his successful withdrawal he has made for the past few months and recent which convinced me the company was legitimate and then he advised me to subscribe a Basic plan at a minimum of $50 first before investing extra money into it. I invested a minimum of $50 into this company which I got excited about their returns after few days, it already looks like I'm a billionaire in my country😂🤑.
I saw my profit running up like a horse on my dashboard making me to reinvest😁 one thing this scammer didn't tell me was the withdrawal fees is going to be high which means I have to leave my invested money for some period of time to cover up my withdrawal fees. it was just insane fee charges🙄🥺 but I got encouraged😀
I kept my mind off it for sometime for it to grow and not long ago, I went back to this crypto invest website to check and found out that it's no longer working . I entered the address in the internet browser it keeps spinning and site can’t be reached.. before I noticed, this scammer has already blocked me on private chat on telegram;.....😭#ScamRiskWarning
How to minimize Risk:
- Invest only the funds you are ready to lose
- Use reliable wallets.
- Never share personal info.
ترجمة
What does Bitcoin mining look like?
Let’s tackle a crypto myth: When you hear about a “Bitcoin miner,” you probably picture someone who has a powerful computer rig or a home “mining farm” (hardware consisting of a few video cards).
Such a mining setup was commonplace in the early days of Bitcoin, but times have changed. So many participants have joined the Bitcoin network that mining with a regular PC is now pointless. (However, there are surprisingly rare instances of independent miners discovering a block with outdated rigs.)
That was then, but the Bitcoin mining landscape has completely changed. Here’s how it looks now:
1. A miner is no longer a single computer in someone’s basement—it’s a “mining farm” of thousands of ASIC miners (powerful computer rigs) costing up to millions of dollars to operate.
2. If someone wants to participate in mining but only has their PC, they can join mining pools, a community whose miners combine their weak computing power to compete in mining Bitcoin.
Although it is harder to reap the benefits of Bitcoin mining, other lesser-known cryptocurrencies can be mined quite easily compared to Bitcoin. if my post is helpful please don't forget support by giving me Tips I will appreciate #bitcoinhalving $SOL
Let’s tackle a crypto myth: When you hear about a “Bitcoin miner,” you probably picture someone who has a powerful computer rig or a home “mining farm” (hardware consisting of a few video cards).
Such a mining setup was commonplace in the early days of Bitcoin, but times have changed. So many participants have joined the Bitcoin network that mining with a regular PC is now pointless. (However, there are surprisingly rare instances of independent miners discovering a block with outdated rigs.)
That was then, but the Bitcoin mining landscape has completely changed. Here’s how it looks now:
1. A miner is no longer a single computer in someone’s basement—it’s a “mining farm” of thousands of ASIC miners (powerful computer rigs) costing up to millions of dollars to operate.
2. If someone wants to participate in mining but only has their PC, they can join mining pools, a community whose miners combine their weak computing power to compete in mining Bitcoin.
Although it is harder to reap the benefits of Bitcoin mining, other lesser-known cryptocurrencies can be mined quite easily compared to Bitcoin. if my post is helpful please don't forget support by giving me Tips I will appreciate #bitcoinhalving $SOL
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What’s a seed phrase?
If you’ve ever used a non-custodial wallet, you’ve likely come across a “seed phrase” or “recovery phrase,” 12 or 24 random words that serve as the key to your digital crypto wallet. It’s a special password to access all your crypto.
A seed phrase is the last line of defense for your digital assets. If you ever lose the device holding your non-custodial wallet, your seed phrase will allow you to regain access to your funds after redownloading the wallet on a new device.
If you lose it, you’ll lose access to all of your assets, and no one will be able to help regain access—not even the service provider. (If you remember your password, you’ll still have access to your crypto, but many wallets store your seed phrase so you can see it anytime.)
With that said, it’s vital to store your seed phrase correctly and in a safe place:
— Write it down on a piece of paper and keep it somewhere safe and fire-proof — e.g., in a bank deposit box or a safe at home.
— In addition to the point above, never store your seed phrase in a digital location because hackers may gain access to it. (Some programs can identify screenshots of seed phrases on your phone or computer.)
— Never give your seed phrase to people, even if you trust them.
— Consider having multiple copies of your seed phrase in various safe places in case of an emergency or you lose one of them.
With complete power over your own funds comes great responsibility. Your seed phrase is the most valuable piece of information in the world of crypto; be responsible by taking care of it—you wouldn’t want to lose it or have it fall into the wrong hands.#bitcoinhalving $BTC $SOL
If you’ve ever used a non-custodial wallet, you’ve likely come across a “seed phrase” or “recovery phrase,” 12 or 24 random words that serve as the key to your digital crypto wallet. It’s a special password to access all your crypto.
A seed phrase is the last line of defense for your digital assets. If you ever lose the device holding your non-custodial wallet, your seed phrase will allow you to regain access to your funds after redownloading the wallet on a new device.
If you lose it, you’ll lose access to all of your assets, and no one will be able to help regain access—not even the service provider. (If you remember your password, you’ll still have access to your crypto, but many wallets store your seed phrase so you can see it anytime.)
With that said, it’s vital to store your seed phrase correctly and in a safe place:
— Write it down on a piece of paper and keep it somewhere safe and fire-proof — e.g., in a bank deposit box or a safe at home.
— In addition to the point above, never store your seed phrase in a digital location because hackers may gain access to it. (Some programs can identify screenshots of seed phrases on your phone or computer.)
— Never give your seed phrase to people, even if you trust them.
— Consider having multiple copies of your seed phrase in various safe places in case of an emergency or you lose one of them.
With complete power over your own funds comes great responsibility. Your seed phrase is the most valuable piece of information in the world of crypto; be responsible by taking care of it—you wouldn’t want to lose it or have it fall into the wrong hands.#bitcoinhalving $BTC $SOL
ترجمة
#ScamRiskWarning I started investing in crypto 2018 yet, I got scammed little by little and I will show you how it happened
Every investor want to buy crypto coins at the early age and with low market cap and supply before it is listed on CEX Exchange. I was very tasty to buy this particular coin so I can be rich in the future😂I bought small amount of that coin which cost me $50. I was directed to plays tore to download an app which I don't remember the name because it's been a long years ago.
as I was chatting this scammer, with screenshot to confirm I bought that coin, the scammer also won my trust by telling me to keep buying more and so, I have won a lottery worth thousands of dollars $1,000,000 after participating in a game to choose a random number and result will be announced after 24hours.
and I was the third person to win this lottery. the scammer told me before I can cash out the prize, I have to pay for extra tax fees to cover my transfer to my wallet which I never did but instead told the scammer to take away the said amount fees from my winning prize and he told me it's impossible because that's the rules. I was investigating with other group members whiles chatting with this scammer; I noticed I am getting scammed after two and more faithful members in the group told me they have lost 10K+ dollars already and we can't withdraw what we have deposited into the wallet we have downloaded on playstore. there wasn't no way to trace this scammer and arrest him. this sad experience has taught me a lesson even I lost few amount of dollar but lot of money when exchanging it to my country's currency $100 = Ghc 1,357.85 in today's current market price $1= GHC13.58 (100x13.58 =1357.85)
Secondly, I got scammed through so called online crypto blockchain investment which was worth $2k+ I invested in pmrcw.com which was giving high turns $3 per day after investing $100 but later turned into scam. 17th Jan. 2024 Binance can keep us safe by enhancing security including: KYC,2FA, for an extra layer of security whiles trading in any means.
Every investor want to buy crypto coins at the early age and with low market cap and supply before it is listed on CEX Exchange. I was very tasty to buy this particular coin so I can be rich in the future😂I bought small amount of that coin which cost me $50. I was directed to plays tore to download an app which I don't remember the name because it's been a long years ago.
as I was chatting this scammer, with screenshot to confirm I bought that coin, the scammer also won my trust by telling me to keep buying more and so, I have won a lottery worth thousands of dollars $1,000,000 after participating in a game to choose a random number and result will be announced after 24hours.
and I was the third person to win this lottery. the scammer told me before I can cash out the prize, I have to pay for extra tax fees to cover my transfer to my wallet which I never did but instead told the scammer to take away the said amount fees from my winning prize and he told me it's impossible because that's the rules. I was investigating with other group members whiles chatting with this scammer; I noticed I am getting scammed after two and more faithful members in the group told me they have lost 10K+ dollars already and we can't withdraw what we have deposited into the wallet we have downloaded on playstore. there wasn't no way to trace this scammer and arrest him. this sad experience has taught me a lesson even I lost few amount of dollar but lot of money when exchanging it to my country's currency $100 = Ghc 1,357.85 in today's current market price $1= GHC13.58 (100x13.58 =1357.85)
Secondly, I got scammed through so called online crypto blockchain investment which was worth $2k+ I invested in pmrcw.com which was giving high turns $3 per day after investing $100 but later turned into scam. 17th Jan. 2024 Binance can keep us safe by enhancing security including: KYC,2FA, for an extra layer of security whiles trading in any means.
ترجمة
After the halving, transaction fees on the Bitcoin network have skyrocketed.
A typical BTC transfer will cost $70–$90 and, in some cases, more than $100😱 The reason for the sharp increase is the commissions of the Bitcoin-based Runes protocol, which allows for minting tokens on top of the main network. Please send me Tips if my post are helpful. I will appreciate #bitcoinhalving
A typical BTC transfer will cost $70–$90 and, in some cases, more than $100😱 The reason for the sharp increase is the commissions of the Bitcoin-based Runes protocol, which allows for minting tokens on top of the main network. Please send me Tips if my post are helpful. I will appreciate #bitcoinhalving
ترجمة
Historic event: The 4th ever Bitcoin halving took place 🥳
Now miners will receive 3.125 BTC instead of 6.25 BTC for each block added.
The halving did not affect the price of the first cryptocurrency in any way because, this time around, it’s been priced in. Nevertheless, we can safely say that Bitcoin has entered a new era and will never be the same. please send Tips if my post is helpful to you. I will appreciate #bitcoinhalving
Now miners will receive 3.125 BTC instead of 6.25 BTC for each block added.
The halving did not affect the price of the first cryptocurrency in any way because, this time around, it’s been priced in. Nevertheless, we can safely say that Bitcoin has entered a new era and will never be the same. please send Tips if my post is helpful to you. I will appreciate #bitcoinhalving
ترجمة
Trading Tip of The Day 👇
A Good Trader Knows When To Trade And When Not To Trade ; It's More About Being Smart, Not Just Knowing How
A Good Trader Knows When To Trade And When Not To Trade ; It's More About Being Smart, Not Just Knowing How
ترجمة
Educational Post
What is crypto faucets?
The earliest crypto faucet may be a bitcoin faucet created in 2010 by the then-lead developer of the Bitcoin network named Gavin Andresen. It gave 5 BTC for free to each user who completed a simple captcha. This bitcoin faucet eventually gave out 19,715 BTC in total, helping to distribute early BTC ownership widely. It was instrumental in educating the initial network of bitcoin users, leading to the cryptocurrency’s healthy growth later on.
Naturally, no crypto faucets would deliver such massive payouts today as bitcoin and other cryptocurrencies’ prices have increased significantly. But emerging crypto projects still need to attract new users, and there are many people out there who want to learn about crypto. Crypto faucets play a role in connecting the supply and demand.
How do crypto faucets work?
Crypto faucets are generally made to be simple and user-friendly. Users usually need to register an account with the digital asset service first. There are also dedicated crypto faucet sites and apps that specialize in offering free crypto to users who complete simple tasks. In both cases, users should have their crypto wallets to receive the rewards and may sometimes be asked to verify their identity.
Users are offered to complete tasks that can include watching videos, reading articles, watching ads, playing games, and taking quizzes or surveys. The service can also ask users to refer friends to it. These tasks are relatively straightforward, and most people would have no problem completing them. But, in some cases, the tasks can be rather time-consuming.#BTC #BinanceWish
What is crypto faucets?
The earliest crypto faucet may be a bitcoin faucet created in 2010 by the then-lead developer of the Bitcoin network named Gavin Andresen. It gave 5 BTC for free to each user who completed a simple captcha. This bitcoin faucet eventually gave out 19,715 BTC in total, helping to distribute early BTC ownership widely. It was instrumental in educating the initial network of bitcoin users, leading to the cryptocurrency’s healthy growth later on.
Naturally, no crypto faucets would deliver such massive payouts today as bitcoin and other cryptocurrencies’ prices have increased significantly. But emerging crypto projects still need to attract new users, and there are many people out there who want to learn about crypto. Crypto faucets play a role in connecting the supply and demand.
How do crypto faucets work?
Crypto faucets are generally made to be simple and user-friendly. Users usually need to register an account with the digital asset service first. There are also dedicated crypto faucet sites and apps that specialize in offering free crypto to users who complete simple tasks. In both cases, users should have their crypto wallets to receive the rewards and may sometimes be asked to verify their identity.
Users are offered to complete tasks that can include watching videos, reading articles, watching ads, playing games, and taking quizzes or surveys. The service can also ask users to refer friends to it. These tasks are relatively straightforward, and most people would have no problem completing them. But, in some cases, the tasks can be rather time-consuming.#BTC #BinanceWish
ترجمة
Educational Post:
What Are Decentralized Applications (DApps)?
Decentralized applications (DApps) are smart contract-powered digital applications or programs that run on blockchains rather than centralized servers. They look and feel similar to regular mobile apps on your smartphone and offer a wide variety of services and functions from gaming to finance, social media, and much more. As the name suggests, DApps run on decentralized peer-to-peer networks.
A smart contract works as a set of predefined rules enforced by computer code. When and if certain conditions are met, all network nodes will execute the tasks that the contract specifies.
Once a smart contract is deployed on the blockchain, it is hard to change the code or destroy it. Therefore, even if the team behind the DApp has disbanded, users can still access the DApp.
While the interfaces of DApps and traditional applications can look similar, DApps offer multiple benefits compared to their centralized counterparts. Web apps store data on centralized servers. A single compromised server may take down the entire network of the app, making it temporarily or permanently unusable. Centralized systems may also suffer from data leakages or theft, putting the companies and individual users at risk.
DApps, in contrast, are built on distributed networks with no central authority. With no single point of failure, DApps are less vulnerable to attacks, making it very difficult for malicious actors to hijack the network. The P2P network can also ensure the DApp continues to work with minimal downtime, even if individual computers or parts of the network malfunction.
The decentralized nature of DApps also means that users can have more control over the information they share. With no companies controlling users’ personal data, they don’t need to provide real-world identity to interact with a DApp. Instead, they can use a crypto wallet to connect to DApps and fully control what information they share.
What Are Decentralized Applications (DApps)?
Decentralized applications (DApps) are smart contract-powered digital applications or programs that run on blockchains rather than centralized servers. They look and feel similar to regular mobile apps on your smartphone and offer a wide variety of services and functions from gaming to finance, social media, and much more. As the name suggests, DApps run on decentralized peer-to-peer networks.
A smart contract works as a set of predefined rules enforced by computer code. When and if certain conditions are met, all network nodes will execute the tasks that the contract specifies.
Once a smart contract is deployed on the blockchain, it is hard to change the code or destroy it. Therefore, even if the team behind the DApp has disbanded, users can still access the DApp.
While the interfaces of DApps and traditional applications can look similar, DApps offer multiple benefits compared to their centralized counterparts. Web apps store data on centralized servers. A single compromised server may take down the entire network of the app, making it temporarily or permanently unusable. Centralized systems may also suffer from data leakages or theft, putting the companies and individual users at risk.
DApps, in contrast, are built on distributed networks with no central authority. With no single point of failure, DApps are less vulnerable to attacks, making it very difficult for malicious actors to hijack the network. The P2P network can also ensure the DApp continues to work with minimal downtime, even if individual computers or parts of the network malfunction.
The decentralized nature of DApps also means that users can have more control over the information they share. With no companies controlling users’ personal data, they don’t need to provide real-world identity to interact with a DApp. Instead, they can use a crypto wallet to connect to DApps and fully control what information they share.
ترجمة
📈How not to get caught by scammers?
⠀
1️⃣ Personal messages
When you fill out forms to get into Whitelist, or even just following the project, you join official Telegram and Discord groups (other social networks are also possible) and then suddenly you get a personal message that "you won" or "you were selected" or shortly before the token is put on the market, you may receive a message with a token contract.
100% it will be scammers. They monitor users who joined groups and start sending personal messages.
🟢Never follow links from private messages, don't reply to them and delete/block the chat immediately so as not to lose your funds.
🟢You can minimize the appearance of such messages through the security settings in the app:
●In Telegram, we recommend banning them from adding you to groups.
●Discord has a feature to prohibit private messages.
Don't be afraid to close and delete private messages from unknown contacts, because administrators of the projects you follow will never write to you first.
2️⃣ Email
Sometimes you may get a message about a prize or some other information from the project to your email.
The first thing you should do is to check the sender of the message. In 99% of cases they will say through their official media that they send out a mail to the users and they will say which e-mail it should come from.
Also we want to warn you against downloading any files from e-mails of unknown senders, even text ones, as it can cause installation of malware.
3️⃣ Fishing
Phishing sites are quite common.
These are copies of project sites, games or entire exchanges, by connecting to them or by signing a contract you can lose your funds. Don't be a "fish".
✅You may be wondering, how do you know the official channel of a project?
⚫️First, when publishing information on the channel, we always attach links to the site/channel or other official source.
⚫️Second, you may also find the links you need on aggregator sites like CoinMarketCap or CoinGecko (if the project is already launched, the token contract address is also available there).#BTC
⠀
1️⃣ Personal messages
When you fill out forms to get into Whitelist, or even just following the project, you join official Telegram and Discord groups (other social networks are also possible) and then suddenly you get a personal message that "you won" or "you were selected" or shortly before the token is put on the market, you may receive a message with a token contract.
100% it will be scammers. They monitor users who joined groups and start sending personal messages.
🟢Never follow links from private messages, don't reply to them and delete/block the chat immediately so as not to lose your funds.
🟢You can minimize the appearance of such messages through the security settings in the app:
●In Telegram, we recommend banning them from adding you to groups.
●Discord has a feature to prohibit private messages.
Don't be afraid to close and delete private messages from unknown contacts, because administrators of the projects you follow will never write to you first.
2️⃣ Email
Sometimes you may get a message about a prize or some other information from the project to your email.
The first thing you should do is to check the sender of the message. In 99% of cases they will say through their official media that they send out a mail to the users and they will say which e-mail it should come from.
Also we want to warn you against downloading any files from e-mails of unknown senders, even text ones, as it can cause installation of malware.
3️⃣ Fishing
Phishing sites are quite common.
These are copies of project sites, games or entire exchanges, by connecting to them or by signing a contract you can lose your funds. Don't be a "fish".
✅You may be wondering, how do you know the official channel of a project?
⚫️First, when publishing information on the channel, we always attach links to the site/channel or other official source.
⚫️Second, you may also find the links you need on aggregator sites like CoinMarketCap or CoinGecko (if the project is already launched, the token contract address is also available there).#BTC
ترجمة
How To Do Your Own Analysis?
⠀
Friends, we have a lot of newbies who are just starting out in cryptocurrency. So I decided to make a post about how to do your own analysis of projects. In other words - DYOR (Do Your Own Research).
One post will not reveal in details all the aspects we need to take into account when analyzing. I plan to do a second post like this, but it will depend on what assets you show under this post. It's up to you.
Below we break down the main metrics for DYOR.
✅Project website
On the website, you will always be greeted with a brief squeeze of the project. Be sure to read the white paper to learn all the basic details:
• What is the project?
• What are its benefits?
• What opportunities does the project offer?
• The project roadmap.
When analyzing the roadmap, pay attention to whether the project is on track. If it is lagging behind, it indicates some difficulty in implementation.
✅Funds
Funds are analyzed to see who is acting as the guarantor of the project's success?
🟢It is important:
• Which foundations have already supported the project?
• What successful cases do these foundations have?
• Will the funds be interested in further development of the project and its token?
Having good funds "on board" increases the likelihood that the launch will be successful and the project will have a better chance of getting support from new investors in the future.
A resource for fund analysts and where they invest is Chain Broker
✅Community and Social Media
You need to gauge the excitement around the project and audience engagement/
🟢Important:
• How active the project's social networks are: Telegram, Twitter, Discord, Medium, GitHub, and so on.
• How involved is the team in maintaining social networks?
• Ambassador Program. Is it active or does it only have a name?
When analyzing social networks, you need to assess not the number of subscribers, likes and reposts, but how active the audience is among themselves. You can write any question in the discord chat and see how quickly you get an answer.
⠀
Friends, we have a lot of newbies who are just starting out in cryptocurrency. So I decided to make a post about how to do your own analysis of projects. In other words - DYOR (Do Your Own Research).
One post will not reveal in details all the aspects we need to take into account when analyzing. I plan to do a second post like this, but it will depend on what assets you show under this post. It's up to you.
Below we break down the main metrics for DYOR.
✅Project website
On the website, you will always be greeted with a brief squeeze of the project. Be sure to read the white paper to learn all the basic details:
• What is the project?
• What are its benefits?
• What opportunities does the project offer?
• The project roadmap.
When analyzing the roadmap, pay attention to whether the project is on track. If it is lagging behind, it indicates some difficulty in implementation.
✅Funds
Funds are analyzed to see who is acting as the guarantor of the project's success?
🟢It is important:
• Which foundations have already supported the project?
• What successful cases do these foundations have?
• Will the funds be interested in further development of the project and its token?
Having good funds "on board" increases the likelihood that the launch will be successful and the project will have a better chance of getting support from new investors in the future.
A resource for fund analysts and where they invest is Chain Broker
✅Community and Social Media
You need to gauge the excitement around the project and audience engagement/
🟢Important:
• How active the project's social networks are: Telegram, Twitter, Discord, Medium, GitHub, and so on.
• How involved is the team in maintaining social networks?
• Ambassador Program. Is it active or does it only have a name?
When analyzing social networks, you need to assess not the number of subscribers, likes and reposts, but how active the audience is among themselves. You can write any question in the discord chat and see how quickly you get an answer.
ترجمة
🟢Finding a valid block header (block hash)
👉A block header acts as an identifier for each individual block, meaning each block has a unique hash. When creating a new block, miners combine the hash of the previous block with the root hash of their candidate block to generate a new block hash. They must also add an arbitrary number known as a nonce.
🟢As such, when trying to validate their candidate block, a miner needs to combine the root hash, the previous block’s hash, and a nonce and put them all through a hash function. Their goal is to do this repeatedly until they can create a valid hash.
🟢The root hash and the hash of the previous block cannot be changed, so miners must change the nonce value several times until a valid hash is found. In order to be considered valid, the output (block hash) must be less than a certain target value determined by the protocol. In Bitcoin mining, the block hash must start with a certain number of zeros — this is called the mining difficulty.
👉A block header acts as an identifier for each individual block, meaning each block has a unique hash. When creating a new block, miners combine the hash of the previous block with the root hash of their candidate block to generate a new block hash. They must also add an arbitrary number known as a nonce.
🟢As such, when trying to validate their candidate block, a miner needs to combine the root hash, the previous block’s hash, and a nonce and put them all through a hash function. Their goal is to do this repeatedly until they can create a valid hash.
🟢The root hash and the hash of the previous block cannot be changed, so miners must change the nonce value several times until a valid hash is found. In order to be considered valid, the output (block hash) must be less than a certain target value determined by the protocol. In Bitcoin mining, the block hash must start with a certain number of zeros — this is called the mining difficulty.
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