They call Crypto currency the wild west of investing and to be honest I can see why. I have listed some reasons below:
(1) Scams of all sorts. I have been scammed 3 times and I thought I would never fall for a scam. I was scammed 3 times on Telegram and you would think you would learn from 1st or at least 2nd scam but no I fell for it 3 times. People pretending to be Admin support on Telegram sites telling you that you need to transfer this to get something sorted out or you have to restore your wallet and gaining access to clear you out. Scam ICO's during the ICO days was another although this has significantly reduced.
(2) Transferring crypto from exchanges to wallets should be straightforward but it is alphanumeric addresses and copying and pasting can sometimes go wrong so you need to be careful. Also you should transfer a small amount first to ensure it arrives at new wallet ok before transferring larger sums (exchange fees permitting).
(3) Coins can multiply 100's of % but they can also fall 80, 90 % during bear markets or if there is bad news relating to the project.
(4) Signup to Coindeal crypto exchange do kyc and they have a coin vote every couple of months where you vote for next coin you want them to list. Each vote gets you some free Coindeal CDL coins usually if you vote all 7 days you get approx $2.
Well the way you can avoid any risk is by getting some free crypto and here are some suggestions (NB you usually need to KYC and provide ID and address verification no matter what crypto you get free so that is the one downside).
(1) Coinbase signup and earn program. If you know someone who has a Coinbase account you can get them to send you a referral link to get $10 each in crypto free. I haven't managed this yet so I am not sure what crypto this is paid in. The Coinbase Earn program tries to promote crypto projects by rewarding Coinbase users for watching short videos about the Crypto project they are giving some free Crpyto for. I personally have earned approx $80 this way. However some people do not seem to be able to access the videos straight away and are put on a waitlist. Below is the list of Cryptos that Coinbase offer this with and the degree of difficulty getting videos to earn free money (NB Some projects have only set aside a certain amount of crypto for this program and once it runs out you cant get free coins):
(a) Stellar Lumens - $10 for watching short videos and further $10 if someone uses your referral link for the same purpose. This crypto earn seems easy to access.
(b) EOS - $10 for watching short videos and further $10 if someone uses your referral link for the same purpose. This crypto earn seems easy to access.
(c) Orchid (OXT) - $10 for watching short videos and further $10 if someone uses your referral link for the same purpose. This crypto earn seems to have a waitlist and it is a long time before you get emailed to go ahead.
(d) Tezos $6 - All rewards exhausted.
(e) BAT $10 - All rewards exhausted.
(f) DAI $20 - All rewards exhausted.
(g) COMP $9 - for watching short videos and further $10 if someone uses your referral link for the same purpose. This crypto earn seems to have a waitlist and it is a long time before you get emailed to go ahead.
(h) ZRX - $3 All rewards exhausted.
(i) ZEC - $3 All rewards exhausted.
NB This is an ongoing program and from time to time new Crypto projects offer some free crypto currency for watching short videos. If you are too lazy to watch the videos you can normally get the answers to the few questions online at Reddit. Just in case anyone does think of availing of this offer my referral links are :
Signup to Coinbase $10
https://www.coinbase.com/join/sincla_d?src=android-link
Xlm $10 https://coinbase.com/earn/xlm/invite/3hrdbnk6 Eos $10 https://coinbase.com/earn/eos/invite/3rkv8ycs
Oxt $10 https://coinbase.com/earn/oxt/invite/86rhvt4c
(2) Install Brave browser on your laptop and mobile phone using 2 different email addresses to receive BAT tokens to an Uphold wallet you link to you browser. Brave browser itself is worth installing as it blocks popups and unwanted Ads and the reward is if you allow Brave to display their limited sponsored ads in the settings of the Browser. At present you seem to get 0.1 BAT for every 2 ads that come through.
(3) Blockchain.com - This is a crypto wallet for your mobile. They offer free crypto from time to time but sometimes it has a lockup period. They have so far given $10 of XLM with no lockup period as far as I can remember but the offer is over now and Blockstax STX $10 with a 1 year lockup. I think STX is still available.
(4) Signup to Coindeal crypto exchange do kyc and they have a coin vote every couple of months where you vote for next coin you want them to list. Each vote gets you some free Coindeal CDL coins usually if you vote all 7 days you get approx $2.
There have been many other free crypto offers but be sure to check they are legitimate. I once got over $100 free from a project called Energi NRG for doing KYC and completing some social media tasks e.g. following and liking them on Twitter Facebook etc. Again this was a one off and is unlikely to be repeated. There are some good airdrop news sites to keep abreast of free crypto airdrops but some are so small or for rubbish projects so they are not really worth bothering about. Hope you get some value from this.
