Cryptocurrency is rewriting the story of the financial institutions especially the banking sector. This is because of the ease of operation, negligible transaction fees (some times it could be zero) and other factors such as delayed or failed transactions.


Unlike the traditional banking system, transacting with crypto takes as much as 5 minutes and as little as 1.5 seconds for a transaction to be successful. Also, both parties can verify the status of the transaction at any given time.


This wouldn’t be possible without the underlying technology, the Blockchain technology and it’s security algorithm, cryptography.
Initially investing in cryptocurrency is something that requires huge capital but as the industry expands, it has been quite cheap to get into the train with as little as $1 and still make a significant level of profit within a given timeframe.


It is also worth saying that crypto currencies have their own risks so no matter how small your investment capital is, you should protect it with all jealousy.


Even if you do not have any capital to invest in, you can still profit from crypto currency through what we call airdrop and or bounties.

What is an Airdrop in Cryptocurrency

An airdrop, in the cryptocurrency business, is a marketing stunt that involves sending coins or tokens to wallet addresses in order to promote awareness of a new virtual currency. Small amounts of the new virtual currency are sent to the wallets of active members of the blockchain community for free or in return for a small service, such as retweeting a post sent by the company issuing the currency.


You only qualify to receive airdrop rewards if you complete the airdrop tasks. The tasks often include; following their Twitter account, joining their telegram group and channel, retweeting certain tweet, sometimes subscribing to their YouTube channel and any other task they may feel necessary to include.


Note: not every airdrop is legit. Some only want to use airdrop to grow their social media accounts issuing fake or scam tokens. Always check back on this blog to read more about legit and scam crypto projects.
Some airdrops can pay you up to $500 dollars for signing up and you can earn up to $1000 to $3000 for referrals. This is a cool way to earn in the crypto space without any financial investment.


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What is a Bounty in Cryptocurrency

In the context of cryptocurrencies, a bounty program is a marketing strategy used by startups during their initial coin offering (ICO) campaigns. It allows them to allocate a certain percentage of their coin’s supply to promote their project. According to Binance Academy
Typically, bounty programs target the cryptocurrency community, and they usually include the following activities:


Social Media Campaigns – These aim to raise awareness of the ICO project using the social media accounts of participants. The events can be in the form of likes, reposts, shares, views, and comments on popular platforms such as Twitter, Facebook, Youtube, WhatsApp, WeChat, and Telegram.


Content Creation Campaigns – These target bloggers, writers, video content creators, and enthusiasts, encouraging them to create articles, blog posts, or videos. Then, the content can be distributed across social networks and platforms to increase awareness of the ICO. Usually, the rewards will be dependent on the impact or engagement level of the created content.


Bitcointalk Signature Campaigns – These are open to members of the Bitcointalk forum. They need simply to add the official ICO signature to their profiles. The number of stakes received depends on the ranking of the participants. Usually, only the members who have a Jr. Member rank or above on this forum can participate in such events.

Translation Campaigns – This bounty consists of translating important documents related to the project in order to ensure global outreach. This commonly includes the ICO Whitepaper, the official website, and the Bitcointalk ANN thread.

Bug Reporting Campaigns – The purpose of this bounty is to incentivize developers and security researchers to report potential bugs and vulnerabilities on software and blockchain infrastructures. The value of the rewards depends on the severity and the interest of the identified bugs.

If you found this article to be useful do not be in a haste, kindly drop your thoughts in the comment box. Also, you can suggest which topic you’d want us to research and write on next. Always check back for me awesome contents.

Read my post on how to detect a scam project with essential comments in the thread. Don't be a victim

https://bitcointalk.org/index.php?topic=5385999.0a

I think he speaks out of anger or maybe frustration. You know many have lost funds in scam projects and most of those focus more on Binance Smart Chain projects.

That's it. Invest what you can easily forget about if you lose it.

Excellent points. Thank you very much for your contributions, they're very essential.
But can you say a little more on your second point. Especially how locked tokens is an advantage.

I love your third point. Token gets value when it have a strong use case, otherwise it will pump and dump even if it succeeds on the long run, it will need so much efforts and it'll take longer than it should have if it had a definitive use case

You are very correct. That's one of th advantages of BSC over Ethereum Blockchain. But it is also a big disadvantage now to many because of its low cost. However, they cannot be blamed because their intention was to solve the problem of high has fee associated with Ethereum

Very true. Most of the times these scammers spend thousands of dollars to execute everything with massive and extensive marketing and make the project look quality but with evil intentions

As cryptocurrency BTC is growing in popularity that is how a lot of people are investing so much energies to delude unsuspecting investors of their funds.
Due to the availability of smart contracts on the Binance Smart Chain at a very cheap rate and the fact that it requires project creators to fill out only the desired token name, total supply and decimals.

Though some have gone the extra miles to hire good developers who activated additional features like anti whales, antibots, buy and sell tax and the other numerous parameters.

It is now very possible for (would be) project creators to easily create and deploy BEP-20 token on BSC. According to recent exercise I carried out on 100 newly launched BEP-20 tokens 95% of them could not pass the test I subjected them to.

For the case of this piece, I will focus on how to detect a scam project and save your money.

Before I go ahead to mention that, it is worthy to note that the new trends that project creators now use to scam their investors is through the underlisted ways

1. Bogus total supply
2. Large airdrop amount
3. Cheap private sales amount
4. Fair Launch concept

They use the above concepts to attract investors first by giving out hundreds of millions of their token and distribute same instantly or within 48hrs (this will be discussed in details in a different topic).

To detect whether a token is likely to be a scam or not you need to carry out the following analysis

1. You need to sincerely and without bias, study the project whitepaper. A scam project will always use ambiguous words and big grammars to confuse their readers. They would use words like "Blockchain, DeFi, Technology, Node, Proof of Work (PoW), Proof of Stake (PoS) etc. With this they make their readers especially those new to the space to assume that they are well informed about the ecosystem thereby buying their trust with ease.
A good project would outline the core use cases of their token clearly stated on their whitepaper.

2. You should check whether the identity of the team members are known. Most scam projects do not reveal their identities so that they won't be easily traced. Most of them use false or fake names and social links to further buy the trust of their investors.

3. Their telegram group and channel are usually very full but with few real members and more of bots. This makes users who does not know the difference to assume that the project has attracted many persons.

4. They usually do not plan to list their token on a centralized exchange any time soon. They only list on pancakeswap or any other DEX where they can easily rug pull and run with investors money.

5. Most times they audit their smart contract just to entice investors.

6. Lastly, they distribute tokens to their wallets in small units so that it won't be easily noticed or observed to be their wallet.

7. They carry out long pre-sale period spanning between 3 to 4 months which allow investors to buy any amount. This is to enable them to raise as much fund as they can because almost anyone can afford their pre-sale.


These are a few point out of many on how to detect a scam project. Before deciding whether or not to invest in a project it is very necessary that you carry out due diligence to help you make informed decision.

If a project does not have a clear use case for their token or they have an ambiguous use case or unrealistic use cases then it is possible that the project is a scam.

Very related. Most people believe that since bitcoin's transaction hash is open for every one to read, it is not possible to be used for crime. I choose to differ from that. Bitcoin's user anonymity makes it very possible to be used for crime. Let's take a look at the number of scams happening around. Once a Bitcoin has been transferred, users can only read the transaction but it is nearly impossible to use that transaction to know who the recipient is. This is why most blockchain require their users to register with their full name and pass KYC. It makes it possible to track transaction and know the exact person behind a transaction in case of fraud.

USDT is a stable coin. It is very safe to hold. Infact, if you trade then you can convert your coins or tokens to USDT to avoid losses in a bearish market period. With this you'd have saved yourself from losses.

 Many people thinks it’s of no use discussing this subject matter, but we at inksupdate believe it is important for our readers to really understand this subject, there are lots of usefulness of this knowledge as far as blockchain ecosystem is concerned

Market base are cryptocurrencies that are controlled by the market forces. A lot of things determines the price or value of a market base crypto asset.

Demand And Supply
One of this determinant factor is demand and supply, meaning that how scarce or available is a crypto asset. We can easily relate this method to our day to day buying and selling, what happens if a commodity is scarce in the market? The price goes up!

Yes! That’s right. The more scarce a commodity is, the higher the price or value of that commodity becomes, because people literally will be willing to pay any amount of money to get it when needed.

Buying And Selling Behavior
Another determinant factor of a market based crypto asset is the BUYING and SELLING STRENGTH which is used for the PUMP and DUMP strategy. I don’t think I need to really expantiate on this particular point right here because this is what almost every crypto asset experience every now and then.

What do I mean by PUMP and DUMP? Well this is where people with huge amount of money buys a particular crypto asset in large quantities knowing that the price of that asset will skyrocket because of the buying strength, only to DUMP it at the peak. what happens next? Of course the price comes right back down.

This basically leaves only a few people in huge profit and others with smaller units of the asset keep holding in their losses hoping to have another pump day.

Now these are just crypto assets, because you’ll have to invest on them and wait for a period of time for them to appreciate, just like the gold and other investments. They are only called cryptocurrency if and only if they’re used within their ecosystem.

For example, Ethereum. If you want to deploy a project or an application on the ethereum blockchain, you will need ethereum as a coin to pay for whatever you want to do on that blockchain.

Many people are scared of them mainly because of their volatile nature, but the truth is this; they can come handy when it comes to investing, they are digital assets not currency in it’s fullness. Example of cryptocurrencies(assets) that falls into this category are: BITCOIN, Ethereum, XRP, BNB, Doge coin, etc

User Base Cryptocurrency
User base cryptocurrencies on the other hand are very few and they are more stable and can’t be control by any elite, they are just like our normal fiat currencies but are built on blockchain technology.

This type of cryptocurrency don’t respond to market demands and supply, they are designed to be stable, not volatile. Example of these cryptocurrency are USDT, BUSD, TUSD, DAI, etc

Reserve Cryptocurrency
But there is another type of cryptocurrency in the crypto space. We are talking about RESERVE CRYPTOCURRENCY. This cryptocurrency complete harness te power of blockchain in every way. This is where PINKOIN falls

Reserve crypto currency has the ability to appreciate in value, maintain it’s value at every point in time and guess what? It doesn’t respond to market manipulations. Pinkoin is called the Eight wonders cryptocurrency.

Pinkoin as a cryptocurrency was built on love for humanity, i.e the algorithm of Pinkoin was designed base on the love for man. A crypto that values the valuer, smiles, well you might be wondering what does that even means?

Pinkoin is designed get it’s values from humans and in returns gives the same value back to humans. Still not clear? Okay let me take it a little further. It means that for every human being that comes on the blockchain technology that powers pinkoin gives value to the ecosystem which then increase the value of Pinkoin. Now in return, the person is given some form of reward for being on that blockchain.

Pinkoin surely has alot of mind blowing features but one thing that will come handy in the years to come is that Pinkion will become the cryptocurrency to get crypto assets, i.e it will become the currency that can be use to purchase market base cryptocurrencies.

Adapted from: Inksupdate Team -August 10, 2021166 1

Hello everyone

I am a newbie here and I don't really seem to understand the environment so well. Can anyone help me with brief guides especially on the DOs and DON'Ts. I'll gladly appreciate it.

Altcoins have lost its value in recent times with many block chain being permissionless. May at times projects are being promoted with the notion that notable programers, technologists are behind such projects. Sooner than later it'd be discovered that most names are just published to lure innocent investors.

NEAR can be a great project but what are the evidences that they are building something worthwhile. However we shall look into the project as time goes on.