Understanding Apeing in Crypto.
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Hi friends!, how are you today? Welcome to my blog, it's super good to be back in your faces too. I trust you got value from my last post. I bring to you another value packed content one that I believe you would find interesting as usual.
In my last post, we explored the concept "Anti-Dumping" and it relevance in this space. Today, we would be looking at Apeing in Crypto.This might sound new to you though but as usual I would take you on the journey of absolute enlightenment, just stay with me and enjoy the ride guys!
The crypto world is such a slippery terrain with a lot of risk. It is even riskier when you dabble into it without knowledge. The crypto terrain has different branches steming out from it and investors go for whichever they think is cool for them.
There are some investors who feel good trading futures, some like the spot kind of trading, others like to participate in ICO and presale, some others like to do Meme/degens and the list is endless...
Whichever one you choose to do as an investor is not without risk, the risk are just in levels.
My emphasis here is that we do well to get knowledge before engaging in this things. Back to my topic, what really is Apeing in Crypto...let's get to explore this topic together guys. I've got stuffs to share...winks
Apeing can be defined as the very act of investing into a trending or new cryptocurrency token, or defi project without doing a background check or research on the so called project. These kind of investors carry out this irrational act just immediate or shortly after the launching of these project with the hope to get massive returns from it.
It is actually done out of FOMO, which is the fear of missing out because they have this preconceived notion that the coin might do well and they really do not want to leave any of the goodies it will bring on the table. So they skip the due diligence and research part of an investment process to invest in the token.
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The reason for referring to this act as Apeing is not far fetched judging from the definition given. They acted unreasonably, and they are not far from behaving like apes, I mean monkeys with low IQ's. You know monkey seems to share some relatable attributes with we humans but then their IQ is not as advanced as that of human.
Apeing became common during the Defi Summer in 2020. It was during this period that some newly launched project made people who invested into them blindly very rich. This story of those who made fortune from it then began to spread especially on the social media. This act then became something normal to people. They felt they needn't carry out research on a new project before hoping in.
The term Apeing became the accurate term to refer to those who skipped the vital part of the investment process which is conducting a good research before hoping in on a project. It's quite unreasonable even though many were lucky to have made fortune from this very act. This is pure gambling with zero chances. And the funniest part is that many still do today, they just follow the hype without getting to see things for themselves.
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A very good example of Defi project that investors jumped at during the as t summer were YFI and Sushiswap. They both turned out well and investors had reasons to be happy they hopped in. However Sushiswap has a blemish in that the founder dumped part of the token on the investors, which made a significant impact on the price.
I would say Apeing is a double edged sword, which could favour you or teach you a hard lesson.
Well it funny how that something that seems illogical still has some benefit attached to it. Somebody once said there is sense in nonsense... I guess it's the case for us here right now.
• Benefit
Investors who are lucky enough with Apeing could become so rich from it. It more like gambling. So I would say investors could get high return on investment if it turns out to be a good investment at the end of the day.
So it's more like shooting your shot but caution should be taken not to shoot one's shot beyond one's capacity. The good old rules still stands... Do not invest what you cannot afford to lose, if you go by this, you won't feel it if it turns out the other way round.
• Risk
The risk here is simple, I think it answers the question what if it didn't turn out as planned because I failed to do my homework? Well you already know the answer. You loss of course. Doing your research and homework place you in a very strategic position to win, it reduces the odd of not getting returns from your investment.
Another risk is that it exposes these set of lazy investors to scams and rug pulls. Where people lure you into investing in a project using all manner of gimmicks and hypes only for them to whisk away your hard earned money
I believe by now we understand what Apeing in crypto is and how that the chances of making it big in crypto with this strategy is slim...as it's more like gambling. It's actually a two edged sword which could turn out well or cut you deep. But in all honesty, you have to do your proper research on anything you want to commit your money into. This is key. We shouldn't live life based on chances.
I trust you've gotten so much from this piece. As my usual custom is, I would always encourage that you DYOR to be sure of every financial step you would want to take as I won't be liable for any form of loss encountered by you.
Feel free to share with me your thoughts in the comment section. Thanks for your time once again. Gracias!
Disclaimer: This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your own research and consult a financial advisor.
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@lhorgic♥️
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