Less I know about crypocurrency only that I know little about Bitcoin. But this day, I heard of so many cryptocurrency which are all strange to me. Please, how profitable are they and do they all legit?
I discover that many people are now creating their own cryptocurrency. How profitable is this and are they legit?
- Thread starter Robrown83
- Start date
Of course nowadays many people created a new coin or token, to create coin / crypto they have to build a blockchain themselves, while to create tokens people can use the Ethereum, TRON, EOS, and Enecuum blockchain. their goal is to find money / profit, if their coin / token is salable in the market. If you ask how profitable? of course it really depends on the number of users and is sold on the exchange market, otherwise it will become crypto / dead token. Legality, there is no body in the world to register a token / coin. so it's legal or not depending on the user. but you have to be careful, against token / crypto scam.
You're very correct l, the number of digital currencies keeps increasing daily, new ones are just springing up like no man's business, thanks to technology.
The BCH's SLP platform give user the laxity to create their own payment ledger, now people are creating as they wish.
Being profitable is another kettle of fish, it's like business you either gain or loose, Dogecoin was created for the fun of it, now it is the talk of the town, so it can be profitable too.
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The future of cryptocurrency is very bright and people are investigating on it very high money for getting more profit and get more beneficial. people made cryptocurrency mining machine for mining bitcoin and it is very profitable.
Yeah its true, a lot of people are now wanting to create their own crypto currencies and are using etherum and eos block chains to do it. Digital currencies are just a starting project so you should expect to see even more of these coins. You should know that they are absolutely legal but you should be careful in order not to fall victim of a scam.
Unless the person or people that are creating their crypto currencies are wealthy and well respected people, I won't advise you to invest on it. They can wait for the coin to appreciate in price and decide to pull out their funds. This is what happened with a particular coin, which I won't mention, and many of my friends that bought it are yet to recover from it.
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I really have no idea how a crypto currency is born, I mean where is the source and what is the source. Do we create a crypto currency out of nowhere? Maybe yes and maybe no. If crypto currency can be created by just saying there is a new crypto that sells for $100 and I am selling my new crypto for only $90, will you buy that? If there is a buyer then that would be the start of trading and for sure since I am the starter of that new crypto then that trading would make me rich.
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Of course it is legit. But it doesn't mean that it's going to be worth creating. Some of those new digital currencies popping up nowadays might go into oblivion in the next few years. Creating a new digital currency is one thing, making it successful is another.
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According to my own point of view all cryptocurrency are legit but you need to learn well before investing in any cryptocurrency you need to know how it works, bitcoin is the most popular of all but there are many other cryptocurrency and they are legit.
Creating your own cryptocurrency isn't in any way easy, you have to go through a lot of stress and you would be spending a lot of funds also before it would eventually become a success. And after that another stress comes in, the stress of making it popular like btc, lite coin, etherum, XRP etc. It's really not that easy.
What we are currently experiencing now, is bound to happen, when something becomes a trend worldwide everyone would love to follow such trend and try to create their own system. Cryptocurrency is not different to this following of trend, but I don't know how profitable it is.
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Cryptocurrency wallet owners also earn a commission for offering consultation services. They guide crypto users on the right investment opportunities. Even personalized consultants can be hired by investors or traders to customize their portfolio according to their specific needs and requirements
A lot of cryptocurrency is coming up everyday, people are still working on inventing many more cryptocurrency, some of these new crytocurrency are not genuine. Be careful of the kind of cryptocurrency you should invest in. Not all cryptocurrency are genuine some are fake
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Are you kidding me or are you serious? Why are people creating cryptocurrency by themself I can see why the market is being flooded with thousands of people currencies the shortest of time this makes no sense this is why bitcoin will never come down because a lot of people they held their trust on cryptocurrency and when they mention give the currency the best coin that come to people mind is Bitcoin nevertheless I don't know how profitable this movement I have been to them
A loy of crypto coins are been created by people and they are legal since there is no law binding cryptos. But not all coins are profitable. It depnds on how people have them and the exchange wallet they operate.
the rate at which people invent new coins only that and also use that same medium to scam other people of their hard-earned money is quite alarming then you can sit out there right now so then I work nothing and you don't plan to what anything and yes we're all there just out there for us to get people's money and move but I would advise everyone to be very careful on how on investing money into new coins
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Yi totall agree with this, its true, a lot of people are now wanting to create their own crypto currencies and are using etherum and eos block chains to do it. Digital currencies are just a starting project so you should expect to see even more of these coins. The same way dogecoin was created, people call it a joke of a coin because of the way it was created and it's like a meme
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