◇ If you bought $10,000 in#BCHin 2018..
- Now, after six years?
• The amount remains the same $10,000.
- Most#altcoinsare on the same path.
▪︎ So that I don't let you be one of those who bought 6 years ago
Here are 10 cryptocurrencies to avoid
How to discover currencies like them 👇
There are 3 main types of altcoins to avoid:
1. Dino coins are very old and overpriced coins.
They have no technology, no society, no advancement.
In the long run, it is bound to lose value compared to Bitcoin or even the dollar.
2. The coins that the team or venture capitalists investing in the entire offering control, makes price manipulation easy.
- Market price?
Often far from reality.
- Worst case
• These currencies can drop by 99% in the blink of an eye.
3. Projects from old novels (Metaverse, NFTs, etc.).
It is no longer relevant and is slowly fading away.
◇ Discovering which projects are promising and which will fail is essential.
These are currencies that I do not recommend and are no longer important.
1/ @Ripple | $XRP
🔸Ripple is a digital payments protocol designed to facilitate fast and cost-effective cross-border taxation.
Despite the support from XRP believers, the project has faced scandals with its CEO, a lawsuit it won against the SEC, but still has legal issues.
2/ $BCH
🔸Bitcoin Gold is a fork of Bitcoin that appeared in 2017, with a focus on larger block sizes to enable faster and cheaper taxes.
Despite its goals, BCH faces debate within the crypto community about its value and utility compared to BTC.
.3/ @bitcoingold | $BTG
🔸Bitcoin Gold is another fork of BTC created in 2017, aiming to decentralize mining by enabling GPU mining.
It has faced challenges with security, including notable hacks and a smaller community compared to Bitcoin.
4/ @Cardano | $ADA
🔸Cardano is an old L1 blockchain that lacks an easy-to-use ecosystem, wallet, and community.
The technology and new features have been "built" for over 7 years, but there seems to be no progress.
5/ @ETC_Network | $ETC
🔸 Ethereum Classic emerged from the Ethereum fork in 2016.
The developers have left the project, and it lacks a clear narrative and prospects.
6/ @monero | $XMR
🔸Monero is designed for privacy, security, and decentralization.
Its value has been stagnant since 2022, and there is a possibility of a similar ban for Tornado Cash and other similar apps.
7/ @Dashpay | $DASH
🔸Dash focuses on fast, low-cost transactions with features like InstantSend and PrivateSend.
Optional privacy features also attract regulatory scrutiny, similar to Monero and other privacy coins.
8/ @EOSNetworkFDN | $EOS
🔸EOS is an L1 blockchain designed for dApps and smart contracts, with a focus on scalability and user experience.
There were concerns about centralization, governance, lack of developers, and the SEC fine for conducting an ICO.
9/ @electriccoinco | $ZEC
🔸Zcash is another privacy-focused project that allows for private taxes.
Like other privacy coins, Zcash faces scrutiny from regulators and exchanges.
10/ @Neo_Blockchain | $NEO
🔸NEO is a blockchain that aims to build a “smart economy” by integrating digital assets, digital identities, and smart contracts.
It has not achieved mass adoption and has faced challenges related to decentralization and regulatory scrutiny in China.
Key takeaways to consider before buying any cryptocurrency:-
• Upcoming openings
• Demand
• Competitors
FDV/MC Market Cap
Analyzing these factors will help you determine whether the investment is worthwhile and whether the project has potential upside.
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