Investing in Cryptocurrency - How to Make Money in a Bear Market & How to Avoid Scams

THE GOLDDIGGING ENTREPRENEUR

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Hey, everyone Happy Friday. , I just wanted to go over a couple of things that I just want you all to be aware of. And please do not participating in.

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One of them is how to avoid scams. One of the things that can be really tempting. And that's why I don't always post a lot of the coins that sometimes get a lot of hype, or what sometimes they end up being what they call rock pools. And there's two ways that they do rock pools. One is they actually, whoever created the coin will have like, a big percentage of the holdings of the coins. And then they basically pull or sale at a certain point once they reach the price, or the amount of volume that they want. And then they just pull out and it never goes back up. The second way that they can scam is is through minting new coins. So this the principle of

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what do you call it?

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Supply and demand. So if you basically just like the dollar loses value, when they print more dollars, and just basically lose its value over time. The same thing, for coins. The more you print, the less value they have. So hence, the reason why Bitcoin has so much value because it's only a limited amount of bitcoins available. Hence, the reason why Ethereum is will become valuable is because they will burn some of the coins, which means destroy some of the coins, instead of printing more coins or creating new coins of Ethereum. So the exact opposite happens when people are scamming is that they will start out with one coin.

And there's a way maybe I need to post this guy, he shows how they do it. And those are the things I check for before I ever invest into especially a new coin. I look at the holdings, who how many people hold it, do they have any missing?

Do they have KYC those are all protective measures I can look out for and then on top of that, I never invest a whole lot of money in a new coin. Because just in case if anything go wrong, I didn't really lose a lot of money. But I'll throw a little bit in if I have had all the other measures check off. And I'm walking out here and I'm very precautious of snakes ( I am walking in the park while recording… LOL). But but it's so nice.

But um but if they so I check for that. And if those things are in place, I check to see who developers are, I check to see who's partnered with it like companies not not influencers, not like celebrities, but actual organizations that are partnering with the the blockchain or the crypto. Then I checked to see if there's any news about it. I'm also there at that point, I still will not put a lot of money on a new coin. I'll feel safe enough to put the $100 in the end I try to you know see if I can get some at least a 5x return on my money. So if I see is a potential to at least five x there now jumping in.

So like I always say be slow to jump in quit to jump out.

So The other thing I want to talk about was I posted about v chain Vechain looks like is breaking out dropping down towards nine cents support level, I'm going to have a set limit for Vechain so that when it hits that support, or if it, I don't think it will, but when it hits it, it'll automatically get a buy for me. And I'm just keep them coins in there.

The other thing I wanted to go over was a couple people had questions about XRP. So this is the deal with XRP. Do I invest in it? Yes. Is there a guarantee that it's going to hit a certain like dollar amount as far as price? There's no guarantee? Do I invest heavily? No. Because like I told you, I do not invest heavily. And anything that's new, or there's not a lot of certainty, especially with this lawsuit? I don't know when it will end.

But sometimes I do trade off of it. Because it can it still goes up and down? Do I hold some of it? Yes.

Um, the things that I will absolutely invest heavily in is ether, ether, because ether is Ethereum is the ecosystem for your global systems that are coming out, right.

So even though Cardona is I don't think it will replace aetherium. But it will be a major competitor. Eventually, as soon as they can, as soon as cardano can get some smart contracts going really smoothly, get some developers that can smoothly create contracts without a lot of failures. But it has the the advantages of it has the advantages of what do you call it scalability, and operability. Um, there's some otherwise low cost per transactions. So it has a lot of pros, but it just needs more real world cases on it for developers. And that's why I always check for what the developers are doing with a blockchain because the more built for applications that are being used, the more value it will have. And, and if it ends up having more decentralized applications, it starts to go into the world of D five, which is decentralized finance. Which is what what I mean by decentralized finance is, for example, I mentioned to you guys like Celsius and block phi. So those two are decentralized finance, where basically, you know, you don't require a credit check for to get alone. It's basically a collateral loan. Hey, Ricky. I'm running their tests. Yes, they are. So but what so is in test phase for one of their applications, I think they did a project. I want to say it was an Africa so so I keep my ears really close to what they're doing what car Donna? Do I invest in it? Yes. So I just kind of by the, I guess, you want to say that dips at $1 cost averaging. Um, but some of the other coins that you really need to be looking at is chain link. chain link is basically Oracle's so Oracle's are basically. So most of these coins are representing blockchains blockchain, just imagine is you're checking your checkbook where You write down your balance. It kind of keeps up the transactions and the balance, right? Well, a blockchain doesn't go out and get information

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to

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put on it. So 30 6090 plan Cardona. Okay, I'm gonna go back to there. So, um, blockchain is basically like your ledger for the most part. And but it doesn't have a way to go out and get information, bring it back. That's what changli does as Oracle. So the way I look at it in layman's terms, is like the purpose that the person going out and getting information bringing back the gossiper. So it's like the gospel that goes back and forth and bring back information.

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Yes, but I will say Be very careful about just following what a major influencer does, because Mark Cuban made a mistake, like it was this week. So he isn't a proponent of Cardona. And I think I understand why, because it doesn't have it doesn't have a lot of real world applications right now. But he was promoting this other coin. I think it was called Titan. and ended up being a rock pool for basically a scam. So sometimes, I don't care who is promoting it. I always do my research. And make sure well, I also do research because I want to make sure I'm coming in at the right time. Even if it's a legit coin to invest in or trade. I was gonna say, so. Do he know a lot about crypto? He does. But remember somebody teaching him? Right? Most he's not a developer. he's not. He's not a creator of a blockchain. So he knows just as much as he knows just as much is any one of us could know. Because it's basically free information. Right? So um, and he's going to, he should be going to the same sources. He should be going to developers, he should be going to, he should know how to check for scams. Which reminds me another scam is hex. So you hear is he x? Do not, do not get yourself involved in that. This guy who created that's why I say always check to see who is the creator who is associated with it. But this guy, a lot of people who are new in crypto man, I remember him. But yeah, a major Ponzi scheme in the crypto world, like several years back, and here he pops up again, and it looks so legit. And looks can be deceiving. So that's why I always dig. And that's why I call this group the gold digging entrepreneurs because and it's not just focused on crypto, I do focus on crypto a lot because I feel I know that crypto is one of the biggest wealth generators will be a has been and will be so but watch out for hex do not involve yourself with that. If you want to get like interest on your interest on your coins that you're just holding use Celsius or block phi. I prefer Celsius over blackfire but it depends on where you live. Some people are able to participate but LCS pays out interest on a weekly basis every Monday Blackfyre pays out interest every month. So, um, so Ricky, going back to your question, or I don't know if it's a statement or a question. You said 30 6090 day plan card, Donna. So, um, what would be the? What would be the? What are you asking? Is? Are you asking me? What is my 30? Day 3060 day plan? Or are you saying that you have a 3060 day plan? So if you could text it, and even okay. Okay, so he's an advisor. So, yes, as I said, he knows a lot about blockchain. I mean, cryptocurrencies. Is he a developer? No, I always trust the developer, because they know, because they are the people who they the people who are building, right, so always look at who has built what in, in the past? What is that thing doing? Is it successful? And then I kind of take it from there, you know, then the next day, once I find out who the developers are, their background, then I go to what companies are trying to use this blockchain. How much of a reach Do they have with the masses of people? Right. So, for instance, of course, XRP has a major mass

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of reach. But my concern a little bit about XRP is, is a bank coin. Um, the whole point of crypto currency is to bank the unbanked. So, I mean, if they're going to do that, then fine. But banking, the traditional banking system, it's really hard to change them, because they're so used to the way they operate. So that's why I'm, I'm invested in XRP, I'm not heavily invested in XRP I'm more heavily invested in aetherium than XRP. And I'll even be more heavily invested in channeling than XRP not saying that XRP, because I don't need a whole lot of XRP if it were to do something, to make a whole lot of money off of it, right? Like, even basically an E like maybe $100 worth of XRP to make a good amount of money, right? Like if it were to skyrocket to 10,000. Me, you if you have if you're under $1 when you bought it, excuse me, you're under $1 when you bought it and it hits 10,000 you already millionaire So, you don't need a whole lot of it. Um, and you know, whereas chainlink which is already being used, and it is a blockchain or Oracle that is used even in the bear market. So aetherium is used even in the bear market for certain applications by Nance is another one that do not sleep on, because by Nance is really smart with their how they develop their pet platforms. They're very secure, people trust them, people gonna go to them, especially when they start once the Bull Run starts again. There'll be a whole new boatload of people coming into crypto and they will be introduced to by Nance and that will even increase the price of by Nance coin. Not only does by Nance does exchanges but they also are involved in NF T's heavily. So I kept posted. I think I posted it. I think I posted it here I might have posted on um what do you call it? I'll Tick Tock but by Nance is working with the Marvel group for NF T's and they are basically becoming a competitor, I guess you want to say or in the same in the same playing field with decentraland which is a very popular NFT platform. So not only do they do data, but they also have very popular decentralize exchanges. Other than by Nance, they have pancake swap, which is used for new projects. You know, when I look for new, when I look for new, what do you call it? new private sale. A lot of times, and I think I posted it before, like the, the, what they call audios rate of return pancake squat was one of the top ones as far as the rate of return. Because a lot of people, a lot of new projects uses pancake swap

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to

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roll out their new coin, because they can't get on. When you first roll out a new coin, you can't get onto Coinbase or banias. Sometimes you can depend on how bad by Nance might want you. But usually you're going to roll out on a decentralized exchange, either uniswap which I hate, or pancasila uniswap is aetherium base decentralized exchange reason why I don't really like them, because the gas fees, I mean, that will get better as aetherium starts getting better with their as they go towards more of a staking versus mining and rollout the I think it's called an Ei PE fitting something. But that's supposed to roll out in July of this year. So once that rolls out there will improve the gas fees. And then I think in no vember December, they should roll out the eath 2.0 where it's basically stake in versus money. And that will dramatically reduce the transaction costs. And that will help uniswap as well. So um, what else? Okay, the 3060 day trials is what Cardona is running. Okay, good. Yes, we will see outcome of trials. Yes. So that will be everybody's waiting for that. Because it's been like a law for even before I really even got into crypto that will people have been waiting for the smart contracts for cardano. So that's why I'm gonna go ahead and get some, some of the dips, when it hits these support levels. That's what I mean by dips, or hit these lines that I have on my charts, when it hits that line, usually by a little bit above that line to make sure it hits that before I make sure I can get it. Because sometimes, if everybody's buy at the support line, then sometimes you miss the buy, because it's too much volume. So that's why I do a little bit above if I think it's going to drop even below that, and how am I do a little bit below, just to make sure that I'm not right on the line. So let's see what else. Um, I think that was it that I had, oh, let me explain something else. Because I know we get new people in the group. So some of the terminology I use. So trade versus investing. Let me explain it because not everybody's familiar when I, when I say that I'm trading is basically you buying either it could be a coin stock or whatever. And then you sell it in a short amount of time, like you, you, it could be in the same day could be in the same week. Or it could be a couple of weeks later, but you eventually are going to sell it and you intentionally buy to sell it like short term investing is when you buy the coin, and you just hold it you probably gonna hold it for six months, a year, whatever. Right? So that's the difference in investing. And, and sometimes you might hold it for years, you know, depending on how value you perceive that stock or, or coin to be. So I think for crypto because it's so volatile. Sometimes it's best to just invest versus trade. Unless you really are a trader. And or if you're trying to learn to become a trader, then yes. But if you're not really learning how to be a trader, are you not a trader? Then I would just stick to investing. Just find the coins that are long term coins. And just keep by when it drops in price. And, Bill, you're bill your millionaire bag right? That's that's that's basically it. That's most of these people who became millionaires. It's because they hail. It's not because they really trade it is most of them. Because like your Bitcoin millionaires and billionaires or whatever, is because they bought and they hail and most of them hope hail for years, like for five years, they held on to it. And it just happened to one day. Catch the masses, and the price skyrocketed. So it's the same thing for aetherium for things like aetherium channeling, possibly Cardona. Possibly XRP XRP has been around for a long time. The also the alternate to XRP. It's lm. So do your research on that. Um, what else? Um, I get this. Rick, you have any comments or any more questions? Me see XRP. That video you posted? Is that true? Okay. So what he was saying as far as the functionality of XRP? Yes, that's true. As far as the price. There's no way anybody can really say what the price is going to be. Do I think it will become valuable? Yes. I'm always skeptical part I have about XRP is because because the SEC has attacked it so hard, and they are so against it. And I don't really trust banks. I don't know what they could try

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do to.

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Unfortunately, it's sad to say, but a lot of wealthy people don't want to be wealthy.

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And a lot of organizations don't want other people to be wealthy. And unfortunately, sometimes even in the United States, it's like that. So like, for instance, because they don't they so fearful of what crypto could do to the banking system. They, they try to restrict what you can do as far as buying certain crypto. So the price tag with 10,000? Could it happen? Absolutely. Would they allow it to happen? Not for sure. So that's my answer to that o Matic. Thoughts? Absolutely. Absolutely. And so Matic is basically a Indian, it was based out of India, with some blockchain engineers. And basically what they did was they created a sidechain for aetherium for the gas fees, because they got tired of paying these high gas fees. So aetherium when you like, if you were to buy something, and it says it was a er, er 20 token, which is basically an aetherium based token, you can when you go to like uniswap, you can, you can select which network you want to choose from, and you can just select the Matic network or the polygon network, because it it got bought out by polygon was original name was mad, but it kept the ticker symbol. So when they take on it, well, it's gonna say so, it is very valuable because it reduces the cost per transaction for aetherium tokens. So yes, absolutely. is a gem. Um, and I definitely am looking at is like is about to, I think I posted it. Like it's still in a bullish triangle right now. So I'm kind of keeping my eye on Matic. And that's something that would definitely hold long term too, as well. So anything else? Ricky? So, I think that's it, that I had to kind of share. And oh, one other thing is very hot. Well, it's, I wouldn't say hard, but it's different dealing with crypto and find it. Okay, you say you good. Um, so like, for instance, the I did update the video for how to buy x Rp. Because it is you have to go from one exchange, buy usdc, then be very careful about how you paste the address. Because if you paste it, or if you buy USD T, and then try to transfer it to USD c wallet on cue coin.

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It might not work might last your money. So the one thing I do is, when I'm doing that copying and pasting to transfer coins, I always test it first to make sure I'm doing it right. Because it's easy to mess up. So I always test out the minimum amount that Coinbase will let me transfer. Like if it's $5, or whatever. Sometimes I think he's like 13 $11, whatever. Um, I test that first, send that over, nappy, I see it comes over and I see it in cue coin, then I'll send the receipt. Because if I send it all at one time, and I send it wrong, I'm just out of love, it's gone, it's gone. So I'm just very careful with that. And that kind of goes into play where crypto domains will become very valuable because you instead of having an address the copy to you will just basically have a crypto domain to use. And that's why I was trying to get y'all to take advantage of those credits. Not only just to sell them, but to buy your own as well because you're gonna need them, I promise you, you're gonna need you're going to need them because they came out. I know I'm gonna talk today, I'm gonna post the stores. So NASCAR driver,