No clue - I don’t think anyone really knows. IMO, it’s just idiots FOMOing in at the same time as DOGE is objectively a crap coin that should be worthless.
Sweet. I am due three different airdrops on the ICON network, and will sell them off immediately. Sure, some may actually increase in value like ENS and UNI, but more likely they’ll tank and not recover on any appreciable timescale.
Think of it like a startup giving out shares of stock to its users or potential users at launch. (This is far from a perfect analogy but somewhere in there is the general principle).
that would be the case for some of the ico’s, the one who at least bothered with a stupid white paper and some generic website. but this is not what i’m talking about. i’m asking about the $sos type rakeback coin that was airdropped to everyone who used opensea and instead of being worthless has mooned (temporarily? i’m not following)
I started off with less than $3000 and never redeposited after.
$3000 isnt micro stakes to me. I built my initial poker roll with $200
Was just gonna say the same thing lol. $3000 is a huge investment for me.
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I built my initial online poker roll with freerolls.
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You are right that $200 probably won’t be enough to jump straight into eth nfts.
There are ways to grind up. Can’t start on eth though due to gas.
My only real money purchase was a TS pack for $11 (plus some random stuff later, but that was because I wanted more eth so paid with CC even though had funds).
Yea it’s like an ico except once people stopped buying those, certain projects realized you can actually just give the coins out for free and build value through them instead of getting funding from people buying coins at the start. I haven’t dug too far in but the $sos token is part of a dao that also has a website and a roadmap and a legit team supposedly.
There’s a similar model for some nfts that are offered at a really cheap or free mint with the idea that the founders will make money from secondary sales.
i put in about 8k and have a bunch of vucevic common cards, 2% of a worthless color line and a dot. ymmv
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DraftKings does a new mystery box drop every other week or so, usually between $40 and $80 to mint. If you don’t open it you can usually flip it for a 50% profit (opening is usually EV-).
Ok, I’ll just ask the basic, Crypto 101 question: what’s the best way to get started in crypto at low stakes, not necessarily trying to get rich in a week? I have a Kraken account that I’ve never used, but I’ve been approved for buying/trading/whatever. Just go in there and buy $1,000 worth of BTC, ETH, Cardano, etc? (not that $1,000 is really low stakes, but I have some cash in a brokerage account that I haven’t touched in forever, so I can play with that, whether it’s a few hundred or a thousand or two)
Kind of interested in this DeFi stuff, too, just to dabble in, nothing serious (don’t have the time or stomach for much). I’ve read about it, but it’s really confusing.
I’ve also read up on how to keep everything secure, but that’s also confusing. Every article pretty much assumes you know stuff instead of pretending we’re all infants.
Probably low stakes/high risk staking and stuff like the Draftkings thing that zikzak mentioned. Topshot used to be a good place for building a roll but I haven’t been on there in months so no clue how that has shaken out. I assume poorly because it was always a poorly run mess from my experience.
I have about $400+ in my Dapper account with maybe 30-40 min-price-type TopShot moments. Never got into the higher stakes stuff like you guys did, but happy I turned $10 into essentially a PS5. I should sell the rest of my moments.
I did buy a DraftKings NFT mystery box (Gretzky?) for $60 and sold it for low 80s after fees. DK fees are insane.
I still have over 300, I am just too lazy to click the buttons at this point and am rationalizing it as maybe one day they will be worth lots!
If you want to do more than just sit on your crypto you’ll need to transfer some to an extension wallet. MetaMask is by far the most widely used.
The best place for low stakes/high risk DeFi is the Binance Smart Chain. goofyballer will tell you it’s a bit like the wild west and kind of scary, and he’s not wrong. Tread carefully and don’t make any large investments until you’re very familiar with the environment. Fees are low so you can profitably do staking and liquidity pooling for as little as $20.
To get started you’d need BSC-compatible tokens from Kraken. BNB is the native one to the chain. Then transfer them to MetaMask and head over to the largest DEX, pancakeswap.finance. Have a look at their pools and farms, maybe plunk some money in a couple and see what happens. You’ll probably be chasing ridiculously high APR’s and will subsequently lose 30% in a week when the underlying tokens plummet. That’s why the APR was too good to be true! It’s tons of fun!
If you enjoy that and want more, there are at least a couple dozen more places you can gambool it up for small stakes.
Thanks. I’ll check it out. Still don’t understand everything you said, but I’ve at least read about MetaMask and heard of all the rest. I definitely would do low stakes. The main reason I haven’t gotten involved is I just don’t have the risk tolerance and disposable income for it.
(though I did almost put $1,000 into BTC when it was 10 cents a million years ago, but my wife forbade me. Somehow, we didn’t get divorced)
Im curious where you think you would have sold if you bought 1K at .10?