Hamster Kombat, once hailed as the largest and most anticipated crypto airdrop of the year, has finally launched after months of anticipation, leaving many players feeling frustrated and disappointed. Here's a breakdown of what happened:
🐹 Hamster Kombat Airdrop Overview:
300 million players actively mined for months, generating excitement in the crypto community.
131 million players qualified for the airdrop, while 2.3 million were disqualified due to cheating.
The project allocated 60 billion HMSTR tokens for airdrop participants, but the results were underwhelming.
💸 Disappointment and Low Earnings:
Earnings Shock: Many Nigerian miners received less than $10 (₦16,000) worth of HMSTR tokens.
In contrast, previous projects like Notcoin delivered far more, with some Nigerian miners earning up to $500.
The airdrop left players with what the crypto community calls "dust," trivial amounts of cryptocurrency that were not worth the effort invested.
📉 Hamster Kombat Token Performance:
The token launched at prices ranging from $0.012 to $0.09, depending on the exchange.
Reports showed a steep decline:
CoinGecko: HMSTR token fell 41% from its launch price of $0.012.
CoinMarketCap (CMC): Token dropped 25% from $0.009.
Despite the negative reception, Hamster Kombat reported over 30 million users trading the token post-airdrop.
💬 Nigerian X Reactions:
The Nigerian X community erupted in anger and frustration, criticizing the project for wasting their time and effort:
Faares, a Nigerian user, voiced his anger:
"People wasted many days and hours playing this thing only for y’all to be rewarding them with some chicken change? Y’all disappointed them and they ain’t trusting you no more."
Deni Rach called for a boycott of the project, stating that the experience wasn’t worth the time invested.
❗ Key Takeaways:
Player Trust Damaged: Many users are questioning the viability of Tap-to-Earn projects, following this poor experience.
Future of Hamster Kombat: With plans for a second session, the project may face a boycott as frustrated players voice their discontent.
🌐 What’s Next for Hamster Kombat?
The community is waiting to see if the project will address these concerns and how it will regain the trust of its players moving forward.
#BinanceLaunchpoolHMSTR #CryptoAirdrop #NigeriaCrypto #BTCReboundsAfterFOMC

Before you start dreaming about any potential gains, it's important to remember that, on average, more than 80% of traders lose their money.

Furthermore, you should understand a popular mistake that most beginners make.

Many beginner traders try to get rich from one grand trade or a few lucky trades.

But that's not how trading works. And that's one of the reasons why the majority of beginner traders lose their money.

A more realistic daily gain goal is around 1% of your account size.

So, if you put $1,000 in your account, you could aim to gain around $10 per day. 

If you have a $10,000 account, then you could try to aim for a profit of $100 per day.

... and so on.

Remember that these are realistic numbers only for traders who know what they're doing.

Also, remember that if you make multiple trades per day, a big part of your profits might get eaten by the spread commissions.

Thus it's very important to choose a broker with low spreads. According to the latest comparisons, one of the regulated brokers with the lowest spreads is This Broker Platform. They offer up to 20% lower spreads on EUR/USD vs other top brokers like Forex.com, or TD Ameritrade.

Hmm.... $10 profit per day with a $1,000 investment?

You might be thinking that it's not much.

Actually, it's a LOT if you understand the power of COMPOUND INTEREST.

The secret formula to trading success

If there is a secret formula to trading (besides learning and practicing hard), it's this: 

SUCCESS = COMPOUND INTEREST + DISCIPLINE.

1% daily earnings might sound small at first, but it adds up over time if you keep compounding the profits and growing your account.

For example, let's imagine that you deposit $1,000 in your account.

As you can see in the visualization below, 1% daily compound interest from $1,000 would result in total earnings of $12,290.99 in one year.

Of course, this is just to illustrate the idea of compound interest. You would have to trade consistently every working day to achieve such a result, which is not very realistic for most people.

But you can always increase your account size if you're doing good and also go full-time into trading, so it's not impossible to reach and even beat this hypothetical target.

Theoretically, if you'd start with $30k, then the 1% daily compound interest could result in total earnings of more than $368k in a year. However, if you are expecting much bigger and faster gains, you will put too much in a single trade and most likely quickly blow your account. 

Even if you traded every day, aiming for 1% daily will never go smoothly, of course. You’ll have +3% days and -2% days, etc. 

But! This approach provides a more structured and sustainable perspective to trading.

It also gives you a target to strive for.
"Compound interest is the eighth wonder of the world. He who understands it - earns it.He who doesn't - pays it."Albert Einstein

Intermediate traders often make bigger gains at the beginning of a trading session when the markets are more active and then lose a big part or all their profits later in the day due to lower trading volume or overtrading.

Best traders try to hit their daily goal and then shut down their computers and go outside to clear their minds and reset for the next day.

#HotTrends $BTC #ETH $ETH #CryptoEducation💡🚀
#Write2Erarn #NigeriaCrypto

Cryptocurrency giant Binance finds itself in hot water as the Nigerian government demands a staggering $10 billion in compensation, citing allegations of currency manipulation and rate-fixing.
Nigeria’s $10 Billion Demand
Nigeria, Africa’s largest economy, has issued a hefty demand against Binance, accusing the cryptocurrency firm of tampering with foreign exchange rates, leading to a drastic devaluation of the Nigerian naira by almost 70% in recent months.
Arrests and Silence
Adding to the drama, two high-ranking Binance executives were arrested within Nigerian borders earlier this week. Despite the uproar, Binance has remained tight-lipped, failing to respond to inquiries from media outlets, including the BBC.
Cryptocurrency Landscape in Nigeria
Nigeria boasts one of the world’s largest cryptocurrency markets, with transactions equivalent to a substantial 12% of the nation’s GDP occurring in the year leading up to June 2023, according to Reuters.

Regulatory Framework
While cryptocurrencies are not illegal in Nigeria, companies operating within the sector are required to register with the government. However, Binance allegedly skirted these regulations, prompting scrutiny from authorities.
Market Impact
President Bola Tinubu’s decision to untether the naira from the dollar last year aimed to foster a more flexible exchange system. However, recent turmoil in the market, attributed to Binance’s activities, has forced the government’s hand in taking decisive action.
Suspension and Fallout
In a bid to stabilize the plummeting naira, Nigerian authorities have suspended several cryptocurrency platforms, including Binance, Coinbase, Kraken, and others. This move has caused frustration among Nigerian users but underscores the government’s determination to restore stability.

Money Laundering and Security Concerns
Beyond financial instability, Nigerian officials have raised concerns over the illicit use of cryptocurrency for money laundering and funding terrorism. The anonymity inherent in cryptocurrency transactions poses a significant challenge for law enforcement agencies.
Economic Fallout
The collapse of the Naira has exacerbated the country’s cost-of-living crisis, triggering protests against soaring food and commodity prices, alongside rising fuel and transportation costs.
#cryptopiannews #binancenews #Write2Earn‬ #NigeriaCrypto #TrendingTopic!