Crypto baby, are you real? RESEARCH ON AUTHENTICITY!

in #crypto6 years ago

I learned, that there in not only Bitcoin though. There are over 120 different cryptocurrencies out there, and you can get any... But keep in mind, that we dont know how "authentic" they are, and were not created just to collect some data. Also, their security/reliability needs to be looked at, some of them may not be secure or legit. They could be built by people with other motives. For example I was just told about lakshmi coin, which is NOT it’s not actually started by indian government. It was started by 2 dudes here in the valley, pretending that its a government coin. (and they’ve already taken half the coin for themselves prelaunch). So, to be on a safe side, I would be simple and say to just go for most proven one. I think Coinbase as an exchange is only supporting bitcoin, ethereum, and litecoin because they think those 3 are legit, and if/when new currencies come out their experts look into it before adding to their platform. I would trust this approach and follow the easy path for now, as I am not an expert. So I purchased about 10 litecoins, some small fraction of Bitcoin and 2 Ethereum for now. I invested 1400$ into this, and got almost twice return by today. Not bad.

So, my thought of other cryptos: check then out before spending money. By the way, Coinbase promises more cryprocurrencies to be added to platform next year! I would wait till they check them out and buy from there. Yes, I know I will pay more. But I like authentic stuff, and this takes some time.

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