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Crypto Investments Mobile Crypto

My Thoughts on mobile crypto “mining” projects

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.

  1. 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.
  2. “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.
  3. 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.
  4. 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.

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Crypto Investments

Kucoin Trading Bot Update

It has been a few months since I entered into Kucoin’s trading bot. I started with just like USD 100 and now I have placed about USD 1000 on to their trading bots. Here are some lessons I have learned about using the trading bot and what you guys should expect. First and most important of all – this trading bot is NOT an automated money making machine. You will not be guaranteed to be making money just because you allow a machine or some logarithm to do trading for you. It does not work like that. You should expect to make losses especially when the market is in the downtrend. Of course I am talking about the grid (or spot) trading bot on Kucoin. There are other trading bots available for their users but I am specifically talking about their spot trading bot. Why? Because it is actually pretty much easier to understand.

So timing the market is still key. How much profits you are making will depend on when you enter the market simply because you are trading with two assets. So if you hold onto an asset that is going down in value, your overall profits will still go down. The trick is to ensure that the arbitrage profits is more than the dip in price. Basically what the bot does is to divide your funds into parts and buying at certain intervals. So if you put in 1000 USDT, they will divide that 1000 USDT into smaller portions (perhaps like 10 x 100 USDT) and start buying up assets at intervals. How it makes traders money is by profiting from ups and downs in the market. So if by choosing an asset that is more volatile, it will have a higher chance of being profitable. Of course all these are in theory only.

For me, I have been making a loss for my bots for the past few days. This was due to the dip recently. I was making some profits for the past month or so and then this happened. Very disappointing to say the least. So yes, it is still very dependent on market forces. I would also recommend those interested to diversify their assets as well. You should go with a few trading bots instead of just dumping everything into one. Why? Well it can be very hard to predict which crypto asset will tank. So diversifying into different assets is actually a hedge as well. For me, I go for one trade in meme coins, one in layer 1 coins and maybe 1 or 2 in other tokens as well. I try to avoid using trading bots with Bitcoin if possible – BTC is usually less volatile compared to altcoins. So grid trading will not be that profitable if you ask me.

There are also some advanced features for the Kucoin Trading bot which might be useful for investors. One of which is let the bot know when to get into the market. You can set the price where the bot will enter to maximize your profits. I think I will be setting them up once I get out of the current trading bots. It is stupid to just go in without any idea on what is happening in the crypto market anyway. Remember, grid trading bot is a lot like spot trading. Timing is key. Of course if we knew when and where to get into any market, we will all be billionaires already. And Kucoin has different types of trading bots as well. These might be worth while to explore as well.

Anyway I will update you on how the trading bots are going. And don’t forget to take profits. Please do your own research when it comes to investing. I am not a financial advisor. Take care!

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Crypto Investments News

Bad Start For Crypto This December?

Well, it looks like a rather bad start for the crypto markets as seen by the recent dip in prices of most cryptocurrencies. So will this December buck the trend for cryptocurrencies? Traditionally, it seems that December will usually be a good time for cryptocurrencies. I was also expecting December to have a decent rally, hence I was pumping some money into a few select crypto assets just a few days ago. But alas, looks like it is not going my way. Of course it is very early in the month and we still have like 26 more days to go before 2022. Crypto markets are extremely volatile and we could indeed see a rally in the coming weeks. It can be very hard to tell sometimes.

So do you guys expect to see a rally in the Crypto markets soon? If so, how big a rally will it be? Are there just too many black swan announcements to dampen the market sentiments? I just don’t know. This time round, it does look rather uncertain. Even the recent market analysis by Coin Bureau shows conflicting results, even if they feel that we are still in a bull market right now. The market was all red yesterday. Even the market favourite LUNA had dipped quite a lot yesterday. Yes I know that there is no such thing as certainty in the crypto sphere but this time round, it does feel a bit different. Perhaps this year will be the year that the markets didn’t really rally that much. Note that I am not saying that the market will dip significantly for December, but I have a feeling it will not rally. More than likely, we will see a mix of bull and bear resulting in the market trading sideways. And the traditional stock markets seems to be dampen as well. So it does look like investors do not have that much confidence overall. And it will spill over to the crypto markets.

Anyway enough of the bad news. If things are trading sideways, it might be a good idea to look for alternatives. One of the alternatives could be using trading bots which leverages on arbitrage. Basically these bots will divide the funds and buy and sell at different levels. For me, I usually split my funds into different trading bots funding different crypto assets. So in theory such trading bots will make you a little money for each trade. But of course in reality, it is just not that simple. So please be careful. My own trading bots (set to whatever default settings the bot gives) is still making me losses at times.

Thank you for reading my post. I need to tell you that I am not a financial advisor. Please do your own research when it comes to investing your hard earned money.

Categories
Crypto Mobile Crypto

My top mobile crypto mining app picks

Everyone seems to like top picks so here I am. I will reintroduce to you all my favourite mobile crypto mining apps. However I need to be clear that these apps do not actually do any mining on your mobile device. Most of them simply let you claim rewards once daily (or less or more depending on how it works) and uses very minimal energy, bandwidth and processing power. So all you have to do is to start the app and click a few buttons to get the rewards. So you don’t really need to worry about these apps making your mobile device slow or eating up bandwidth or battery life.

So lets begin. My favorite at the moment is Hi Dollars Network. I think this project has great potential and it should be one of the better ones out there currently. The rewards they are giving out is pretty generous as well. I mean you can mint daily 1 Hi Dollars and that is worth about USD 1.4 at the time of writing. Plus whatever referral rewards you are getting from those you refer to their network. Certainly much better than most other crypto mining tokens. And if you purchase and hold on to their tokens, they have membership benefits as well. You get lifestyle rewards, better earning rates and other benefits. And the Hi Dollars team had said that they will be adding more to their membership. Come on, tell me which project you know give you all these benefits? Furthermore, they are a Defi project – meaning that you will soon be able to do swaps, borrowing, lending and other crypto related services on their platform. And they have more than 2 million members already – that is one impressive growth rate considering that they just launched only in May of this year and their token was released in August.

Next would be Pi Network. Of course this will be in my list. They are one of the pioneers in this industry, starting all the way in 2019. In crypto terms, that is a pretty long time. They might not be the fastest team but they seem to get things done. And they have about 25 million active users on their platform – so just imagine how massive their ecosystem will be. The number of developers been trained to create dapps on their ecosystem is also quite impressive. They had just finished their first “hackathon” and supposedly it was a great success. Regardless it is still quite impressive for a “mobile crypto mining” platform to even have their own hackathon. Rumours seem to suggest that Dec or early next year, they will launch mainnet, so watch out for it. At the moment, we have no idea how much their Pi tokens will be worth. Will need to wait till the Pi tokens are launched for public trading. However do note that the current mining rate is rather low, so if users want to join, they should join early.

I also like Star Network. Yes the project is pretty young and their services are not even up yet. But judging at how well their growth has been and how often they update their app and announce features and changes, I think this will be successful. They started around August this year and they have gartered over 1.1 million users. That is even faster than Hi Dollars network. But of course they are more leaning towards Defi and we know that Defi is hot right now. And if you ask me, I think Defi still has lots of room to grow. So I don’t think that Defi will fade away anytime soon. Now we are all waiting for them to start launching their crypto services but I think that will take some time. And if you have the time, you should go read their whitepaper. It is pretty comprehensive. That whitepaper was the main reason I am confident about the project. Someone took a lot of effort to write that whitepaper. Of course when they released the Libra token and KYC on time and without too much issues, I knew that Star Network will be the project we should all watch out for.

However if you are looking at an underdog to root for, then maybe you should look at Eagle Network. This project has gone far since its early days and their tokens will soon able to be publicly tradable in their own ecosystem. Of course they have had their own shares of hiccups along the way but looks like most of them have been resolved. Note that they are a relatively small project and probably doesn’t have the financial backing like the rest in this list. But from what I can see, they have been trying hard to release features and dapps in their ecosystem.

So if you are at all interested in doing some crypto mining to get some passive income, then you might want to take a look at these projects. However I am no financial advisor so please do your own research as well. Take care!