I decided to hold on, and if this bull run is truly over, that means I missed taking profits at the peak. But you know what? I believe in crypto, I didn't invest anything I couldn't afford to be without, and I'm positive that there will be an even better point to take profits later down the road.
You're not wrong and I totally get your underlying sentiment of the discussion here. I'm not 'huge' into crypto and mainly use Coinbase for what I do. However, I did have some ALGO that I moved to the official ALGO wallet last year that has me concerned on how I am going to report the stake rewards (from what I can tell, official wallet doesn't track spot price. Also seems to merge ASA transactions in with ALGO, but haven't looked much deeper). Anyways, I'm already starting to sweat how I am going to prove cost basis on those :(
This guy gave the best advice in my opinion. ATOM and ALGO can take long slow dips. They all can… but riding the BTC and ETH waves feel a lot more promising. Staking isn’t as great as it seems. It’s really a slow go, but I have most of mine staked anyway. Be wary of Wallets like Metamask and such. That’s some bullshit ripoffs right there. Just stay on an exchange. Now isn’t a bad time to buy ETH and BTC in my opinion and just hold a couple of months.
Look, all I know is that when this sub shills a shitcoin, you better not buy it. And when this sub says a coin is trash and will never go up, you better hop on it fast before you miss the 69,420% incoming gains. I have seen this sub go omg cardano is the greatest thing ever, everyone needs to buy and then it drops from like 3 to 1, and the shills double down saying JuSt StAkE iT aNd EaRn MoRe. Same thing with everything. When this sub says something is terrible, the sub downvotes any further posts from people that say well I bought it at x and now it's worth 10,000x and the sub will still attack it. The only thing I see the sub perpetually rally behind in ALGO and for that reason I refuse to buy any. I see a lot of posts too pumping polygon and trashing loopring so I naturally sold all my matic for loops and will never look back.
Its crazy how much FUD post are around LRC when its at a price close to ALGO, meanwhile ALGO its on 1.40’s down from 2.80 ATH and nobody says ALGO its dead, sell before its too late. Im a noob on crypto but I seen DOT going from 30 to 10, then to 50 and now to 20’s. This is Crypto. HOLD and DCA if you believe in a project.
Story time: When 2018 hit and everything tanked, I turned away from crypto. I didn't sell anything, I didn't log into my accounts, I just uninstalled everything and walked out. I forgot that I still had DCAs setup and I was still buying $100 ETH and BTC with every paycheck. I didn't log back in to anything until the 2020 crash when I wanted to buy a bunch of ALGO, ATOM and XTZ. Patience can be rewarding but it's NOT easy.
How are some coins you’ve never even heard of or on your radar worth like $35 or $115 and then you have ADA/ALGO struggling to get to $2 🤔 make they are destined to stay below a certain price and will never take off?? What happens then!!!
FYI, the “real” rewards rate is now under 1%. It is supposed to be completely phased out by February. Coinbase is offering 4% still, which really means they are making money from governance and paying out less than half to the holders. You’ll be much better off creating your own ALGO wallet and joining governance yourself.
Both have great user experience at present and have their own pros. 1. We are entering an era where interoperability will be one of the most important features in crypto and ATOM does it best. 2. ALGO is a good project but it is also already very popular and widely shilled. ATOM is only recently getting recognition it deserves on places like /r/cc. For the last year any new user here would have learned about ALGO quickly and ATOM only much later. i.e. It is more underrated. 3. Up to now ATOM has focused on building tech out at the expense of value capture for the coin. That is all done now, the vision is realized and the focus now is increasing value capture with things like interchain security = increasing ATOM price.
I leveraged my ALGO for STBL using AlgoFi. I then traded the STBL for YLDY on Tinyman. Later that day, Tinyman is hacked so now there is no way for me to get STBL to pay back my loan. Cue the market entering freefall and suddenly there is a real risk of liquidation. I ended up pulling most of my savings account into USDC to add more collateral, so my ALGO is safely in governance now. With the Tinyman hack and some additional (arguably) bad news about Yieldly, I'm down almost 40% on that loan....
Most of us started with memecoins and just tried to see what we could do, the best advice to take is no advice and to actually keep researching what works for you, i got rugged a couple of times before I found the projects I'm invested in which i like ALGO, CRV and BitDAO's BIT.
ETH sounds good. You can also do some research on certain other projects that seem to progressively have an upward trend, for instance ADA, ALGO, MATIC, then I see potential in ATOM and ONE because of all the development they receive in the backstage! Feel proud of yourself for making it over here, best of luck with whatever you eventually choose to go for!
I know some are in the works, but don’t know of any up and running yet. CHIPS on ALGO is one that comes to mind. GEMS on ALGO I believe is centered is sports betting as well. There could be some already running, but I couldn’t tell you for sure
If you’re looking into smaller cap coins check out Cudos, Nervos and Radix. I hold some ckb(nervos) myself and intend to buy some xrd(radix) sometime next month. For more well-known coins, CRO, ALGO, LINK, MATIC and of course btc and eth. Was holding FTM and sold at 2.6-2.8 for nice profit then reinvested it into ckb
50 of what and 100,00 of what. It's not that simple. If you buy BTC and ETH, trade half of each for ADA, then later buy ALGO with half of the ETH you had left and trade half of that for ADA, when you sell half of your ADA how much capital gains do you pay if you paid 50 for the ETH and BTC and sold the ADA for 200? Next year you sell all the remaining crypto for 400, how much is the capital gains, assuming that was split evenly among the cryptos?
Just ‘discovered’ staking (outside Coinbase) a couple of months ago. Held too many different coins. Ultimately settled on ALGO and ATOM. Neither was pumping hard at the time and I ended up working on my ALGO bag. Got it to where I was satisfied for governance staking and turned to ATOM only to have it wake up and start to climb. Been chasing it since. Trying hard not to FOMO. 🤣
ALGO fees are .001 ALGO, less than a penny. AVAX fees have never been more than like 20 cents for me. Networks cost to operate, not to mention fee less transfers allow for people to slow the network with junk transactions. I do think for wider adoption to happen smart contracts need to be written so that the merchant eats the fee, not the consumers. Merchants are already used to fees from Visa/MasterCard and I imagine they would be extremely happy to pay sub-penny transaction fees over the 3+% credit card processors charge.
I think ALGO, CRO or LRC both have potential to do it. ALGO is doing so many good things, is actually being used, a very effective chain and has great staking rewards. Ditto for CRO plus it’s one of the most practical coins out there to use. Their Visa card just makes sense and their marketing is huge for on boarding new people. It even got my mom interested. Finally LRC could go off with it being adopted to help crazy gas fees but more likely due to apes hoping on if an official announcement is made
tldr; SkyBridge Capital founder Anthony Scaramucci says his firm is investing heavily in Algorand because he thinks the cryptocurrency will replace many of its competing blockchains. "I've got a quarter-billion dollars in [Algorand] right now. I think Algor and will be the Google," he said. He compared ALGO's potential to pass Ethereum in market cap to the opportunity that Google capitalized on. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
The reason is a local company made it very easy and convenient to add crypto payments for merchants and offered much better terms than card processors. It is such a win win win situation. They cut the middleman (card processors and banks) out that introduce fees that these merchants need to pay. If you buy with crypto the merchant actually receive significantly more than they do if you buy with card. Lol re the NANO situation, I hope they do add it. I spoke with their crypto procesor's CEO over LinkedIn and asked him about adding ALGO and he said something in lines of, we're adding more currencies but I can not comment on specific currencies roll out date.
So I've started investing two months ago and went with obviously loved projects around here - BTC, ETH, ALGO, DOT, LINK, all well timed arpund ATH. A few weeks ago tired of staring at huge losses and never ending crab, I picked up some ADA. The FUD was rampant here and I got in at just above 1$. Today it's the only green coin in my portfolio 😂🤦🏼♀️ Sometimes doing the opposite of this sub works I guess.
Don't take this the wrong way, but if you only can receive $0.001 ALGO a day and you somehow are able to score an airdrop EVERY DAY for a year, at the current Algo price that would equate to earning 51 cents. Unless I have no clue what I am talking about. But if that is correct you would want to weigh checking the site every 24 hours every day for a year to earn about 50 cents. Again, I appreciate OP giving ANYTHING for free, but I just want to be sure I am understanding the real amount you can earn here with these drops. Thanks!
I've made a decision this year, gonna put £100 every week into one of BTC, ETH, ALGO and CRO and rotate weekly. Is there any other coin I should be looking at? Would like to have a nice amount of crypto by the end of 2022, that's my goal
This is what always gets me. I want to interact with more defi and dapps but I don't want to burn a bunch of my coins just in gas fees. So far I've only used ALGO but I really like how low the fees are (fraction of a penny). I've been meaning to check out Harmony One, too.
Do you know if Brave wallet can be used for this? Or can I use my Coinbase Algorand address? How many ALGO's do I need to use the faucet? Thanks for doing this, and you should sign up for BAT (Brave browser) so we can donate BAT to your site!