As you all should know by now, I am a huge fan of these mobile crypto “mining” projects. I started doing all these mining like way back in March or April 2021 and have not stopped. My favourites have been Pi Network and Eagle Network. Of course there are a few new projects that popped up recently that seemed to be quite decent as well. The crypto verse seem to be ever changing and there have been some great developments and innovation. That is why I am confident that these “more stable” projects will not just simply fail or disappear. Of course there will be a lot that will. Some projects didn’t even last 2 months. One of which was the Shark Network which started in September and by the start of November, the team just disappeared without a trace. Anyway here are some of my thought about these mobile crypto mining projects.
- A good project usually takes time. And I mean like a few years from start to something remotely considered “finished”. If you see a project that promises everything to be done within a few months, I think you might want to reconsider the project. And yes, it does take time right? Just imagine building up the brand name, getting and training developers, negotiations with other services and companies and so on. These will take time. So you will need to be in for the long haul.
- “Miners” or members don’t usually last very long. This is usually very true, which is kind of sad. They expect to “mine” and get rewarded within a few weeks. Furthermore, some expect the price of the tokens or coins to be sky high at the date of launch. This just doesn’t happen. Even if the project and the corresponding tokens are released quickly and can be publicly traded, it will probably a few years for the token to even gain traction with the public. Nobody is going to believe in a token that was just released a few weeks ago and start investing their hard earned money into it. Again, you will need to be in for the long haul. Patience my friends, patience.
- A lot of projects are just scams. Sadly there are a lot of projects popping up everywhere and most of them are just scams or rugpulls. Some don’t even have any experience in the crypto industry and they are just hoping to ride on the crypto wave to make some money. If you read a project whitepaper and it seems extremely fishy or things just don’t make sense, you need to double check the project again. There are even mining apps that just make the user click on advertisements with no intention to reward their users. So please be aware.
- Investing. Beware on what you are investing in. If you really want to invest in these projects, I would highly encourage my readers to make sure that the project has some financial backing and the project team is active and constantly updating both the application and adding new features. I have an interesting story about the Eagle Network – at first glance I thought that this is most likely a scam project. But as time progress I started to realize that it isn’t a scam project and the team behind Eagle Network seems to be serious on what they are doing. Yes, so always do some research first. This is very important as a lot of projects tend to claim that you will probably make 100x like by next year and you will miss if you don’t go in NOW. All rubbish. Don’t just rush/FOMO into any project.
Please take care. If you are unsure of a project, it is best to be avoided then. There are just too many scammers out there.