Whaling
or
Crypto whales
The interest in cryptocurrency has created a brand new problem, whales. A whale is a person who controls a large amount of crytpocurrency and consequently the price of that crypto. Whalecoins are a new peril for the uninitiated. A whalecoin can have really massive moves, like $1 to $20 over the course of a few days, if you are in, it can be rewarding. That action is however, not designed to enrich you but to strip you of value. ETN is not a whalecoin, LGS looks like a whalecoin to me. ETN has solid volume across all the cryptomarkets offered on Cryptopia, LTC, DOGE and BTC, LGS has solid BTC volume and that is it, almost no LTC or DOGE volume. ETN has a solid community, a development team that has matured a lot since inception, many downloads of the app from both Google and Apple sites and a reasonable whitepaper outlining what they hope to achieve. LGS has a whitepaper that appears to be written by a drunk communicating in a foreign language. If you do invest in crypto it is very difficult to find real value. Watching for whales is another skill required to avoid being swamped.
Most cryptocurrency exchanges offers pairs for other cryptocurrencies. You need an account at an exchange that has crypto/fiat pairs to move money in and out of the cryptoworld. A small investment today could pay off many times over in the future as public ledger transactions gain momentum. In the beginning, most people thought email was a novelty that would never gain traction. |
