Every story of getting rich quickly starts on the chain. Buying a MEME or a local dog may result in dozens or hundreds of times of profit.
Although most of them are just for stories or publicity purposes, so that later comers can take over, there are indeed more opportunities for high multiple returns on the chain. Some tokens are listed on Binance or Europay, and it is difficult for them to fluctuate several times in a short period of time. They all rise or fall gradually.
Of course, high returns must come with high risks, and the risk of on-chain operations returning to zero is even greater. 99% of on-chain MEMEs will return to zero, and only 1% may surge beyond the circle.
Take a look at the primary market's MEME, which has seen an increase of 1000%.
So how do you buy digital currency on the chain, and how do you pay attention to tokens that are not yet listed on exchanges in the early stages?
First of all, we need to understand what a cryptocurrency digital wallet is.
Cryptocurrency wallets store private keys and cryptocurrencies, and can also send, receive, and use various cryptocurrencies such as BTC and ETH.
Owning a crypto wallet means owning cryptocurrency assets. As long as you keep the mnemonic phrase safe, no one can open, freeze, or operate the account assets.
Crypto wallets are decentralized and anonymous. No one knows who the wallet owner is, but every transaction record of the wallet can be queried. It cannot be tampered with, forged, or deleted.
The encrypted wallet provides players with a brand new experience and also allows users to use the wallet independently and participate in various activities on the chain.
Digital wallets are the door and key to the blockchain and are the basic tools for exploring the blockchain.
So how do you create a crypto wallet?
There are multiple blockchain networks, such as Bitcoin, Ethereum, and popular public chains such as SOL and TON. These are all different blockchain networks. There are different wallet tools corresponding to different networks.
For example, wallets such as unisat, Xverse, okx web3 wallet that support the Bitcoin network, metamask, imtoken that support ETH, and phantom that supports the SOL public chain.
Some wallets support hundreds of currencies and multiple different networks, and their functions are becoming more and more abundant.
When using a wallet, be sure to download it from the official website. You can install the wallet plug-in directly on Google Chrome, or download it to your mobile phone.
Different wallets can be used for different functions. For example, some wallets store assets, and some wallets interact with the chain, etc. Wallet accounts with more assets should avoid interacting with too many chains to avoid the risk of theft.
Creating a wallet generally generates a set of 12 or 24 words. Save the mnemonics offline and keep your own mnemonics safe, and your wallet will be very safe.
Centralized exchanges generally require KYC real-name verification, and some platforms also restrict registration for users from certain regions.
The on-chain trading platform is decentralized, does not require real names, and everyone can participate. It is automatically promoted by smart contracts.
The risks of on-chain transactions mainly lie in whether the contract code is accurate, whether the contract has loopholes, whether there is a risk of the contract deployer running away, etc.
On-chain MEME transactions are shallow and have poor liquidity. Large purchases or sales will cause huge price fluctuations, and doubling or a 90% drop in prices can be achieved in a matter of minutes.
For example, the two on-chain meme trading platforms ave.ai and birdeye.so that Chuxiao Chain often uses have transactions on multiple blockchain networks, and can intuitively view the fluctuations of various MEMEs.
The chain is decentralized, and everyone can deploy contracts. Some token letters are repeated, but the contract codes are not the same. Sometimes there are differences in uppercase and lowercase, or differences in the deployment networks, and they are not the same token.
If you are lucky, you will buy stocks that are rising. If you are unlucky, you will buy stocks that are trapped.
Or the timing of purchase is wrong and you may be trapped, or there may even be loopholes in the contract, the project may run away, the Pi Xiu plate cannot be sold, or it may be reduced to zero.
For example, a few days ago, a player spent 5SOL to buy NEIRO in the early stage. He earned 700 times in a few hours and made a profit of 70wu, but the remaining 99% of the participants were trapped or lost money.
There are more multiple opportunities on the chain, and the learning threshold is also higher.
Everyone seems to have easily earned 10 times or 20 times the profit, but behind it are repeated trials and errors, paying huge costs, but as long as one succeeds, they can turn things around. But most people don't get the opportunity.
If you are not careful, it may lead to large asset losses.
On the one hand, we envy others for having opportunities that are ten or a hundred times better, and making 10wu or 20wu at any time, but we also need to understand that there are huge trial and error costs behind it.
If you are not careful, your entire army will be wiped out, your wallet will be stolen, and your assets will be reduced to zero.
Only by understanding blockchain and how to use wallets can you make better judgments and choices, choose the gameplay that suits you, and explore within your tolerance.
If you want excitement, you can play contracts and MEME;
If you pursue conservative step-by-step accumulation, you can use spot and mainstream currencies; if you pursue uncertain and unknown returns, you can explore web3 and take advantage of airdrops. These are various on-chain methods.
The above is just my personal opinion, not investment advice. I am Chuxiaolian, and I am paying attention to the crypto market and web3.
