Bought £700 worth of a cryptocurrency I don't know much about, is this moonshot?

jrrsparkles

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Quote from: hamu3l on June 17, 2021, 12:33:07 PM

Hi everyone.

Recently I aped (full degen) $CAVA (UNISWAP) after seeing some advertisements. Anyone else involved in this project or know the direction?

https://www.cava.finance/

Thanks in advance if you know much about ETH blockchain or this current project!

Check the current price on the exchange where you bought it, and there is no chance for such projects to get into a reputed centralized exchanges so we can't tell how much actually the price is now, or it can ve even zero which means you got scammed.

Never invest on a project if you don't have any knowledge about it.

tulusikhlas

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Quote from: ?? on ??

tokens with a very large supply, I don't trust or doubt projects that have this kind of supply, you are new here and immediately buy hype tokens like this, I doubt this but if you insist it's your choice, you should start with top coins on coiningekco /cmc.

I am even more amazed by those who continue to invest money in meme coins and hope to make a big pump. As we see the current phenomenon, Meme coins are no longer popular and have been abandoned by investors due to the risk of dispossession resulting in loss of asset value. everyone should go back to Bitcoin and forget about meme coins. only BTC is a safe way to save money in the future.

unusualfacts30

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You could diversify that 700 into different alts rather than sticking into one. This would've lower your risk to reward ratio. I've checked their website and they are listed in small exchanges. so you can see a nice return when they get boosted to bigger exchange. Always speak to the team to familiarize yourself with their vision and what they have for the future.

just be careful going all in one coin you're taking larger risk.

NewRanger

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Quote from: richcorner100 on June 22, 2021, 06:31:44 AM

I prefer to buy BTC or ETH than this shitcoin. When the market dumped just like nowadays is very small chance this token will recover, but for BTC and ETH is high probability the price will recover, even possible surpass ATH because of high fundamental and huge ecosystem.

looks like OP want to speculate with his money into unknown project. we often to see many coins suddenly soar extremely only in few weeks, and maybe due this reason OP want take this moment too. but unfortunately OP trapped in advertisements which is need more research to find project quality.

Quote from: no-ice-please on June 24, 2021, 07:32:20 AM

I wonder why OP buys a coin that he doesn't really know in the first place? What is the reason to buy a coin that you have no clue about?

Isn't it than better to register with an online casino and just put all your money on black in roulette? That does at least give you a close to 50% chance to double your money. What is the chance that a coin you have no clue about will double your money? Probably less than 50%.

i see he is trapped by advertisement in any site but didnt research and screening again about this project.

no-ice-please

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Quote from: richcorner100 on June 22, 2021, 06:31:44 AM

I prefer to buy BTC or ETH than this shitcoin. When the market dumped just like nowadays is very small chance this token will recover, but for BTC and ETH is high probability the price will recover, even possible surpass ATH because of high fundamental and huge ecosystem.

I wonder why OP buys a coin that he doesn't really know in the first place? What is the reason to buy a coin that you have no clue about?

Isn't it than better to register with an online casino and just put all your money on black in roulette? That does at least give you a close to 50% chance to double your money. What is the chance that a coin you have no clue about will double your money? Probably less than 50%.

richcorner100

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I prefer to buy BTC or ETH than this shitcoin. When the market dumped just like nowadays is very small chance this token will recover, but for BTC and ETH is high probability the price will recover, even possible surpass ATH because of high fundamental and huge ecosystem.

no-ice-please

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Quote from: Saisher on June 19, 2021, 09:05:39 AM

Quote from: hamu3l on June 17, 2021, 12:33:07 PM

Hi everyone.

Recently I aped (full degen) $CAVA (UNISWAP) after seeing some advertisements. Anyone else involved in this project or know the direction?

https://www.cava.finance/

Thanks in advance if you know much about ETH blockchain or this current project!

You are not so sure about your investment because you are asking here and wants validation that you did the right thing, this is a wrong mindset, when you have done diligent research and invested in the project, then you should stop asking if you did the right thing and just follow the development of the coin you've invested and support it if you are not comfortable might as well dump it.

Well, there is nothing wrong to gather some input from a knowledgeable community, which some of the Bitcointalk members are. In most cases some more information can't hurt. There is always something that somebody may know which you don't.
Of course you shouldn't make your investments solely based on the opinions of others, but this place is here to get some more input to what you already have yourself.

Flowzer

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Quote from: palle11 on June 19, 2021, 08:57:52 AM

Learn not to invest your money in such a project you can't determine what the team is up to. Moreover is a big money that you have involved in it for a project of such not listed in a reputable exchange. Your enquiry here when you have already invested is not a wise idea. Make research first before you get your money in.

Agree, nowadays many project are easily listed on some Dex exchanges and put fake liquidation there to have a rug pull after some investor trapped on their trap.
Becareful for this issue, follow some topic about the project first before decide to invest on it.

RealMalatesta

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Quote from: hamu3l on June 17, 2021, 12:33:07 PM

Recently I aped (full degen) $CAVA (UNISWAP) after seeing some advertisements. Anyone else involved in this project or know the direction?

This is basically the way people invest into things these days, doesn't make any sense to me at all but there are way too many people who does those things. I really do not think that you should have bought into something without really knowing what it is. I personally never invested into something that I researched like crazy, it really is the only thing that I could do in these type of things because there is no logic to invest without knowing every word in the whitepaper/documents of the project.

This is not something you did and if anyone of you ever invest into something just because of hype then you did the same thing as well, it is a mistake and sometimes it does profit that is true because you get lucky but that doesn't mean that it should be something you could profit all the time, 90%+ of the time you will lose money if you do not research.

Mpamaegbu

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Once a man, twice a child!

Quote from: hamu3l on June 17, 2021, 12:33:07 PM

Thanks in advance if you know much about ETH blockchain or this current project!

You just put the cart before the horse, instead of the other way round. A whopping £700 on a project isn't a small money to be thrown into a project without making proper investigations on the project. If you must ask others about a project, do that first before investing in it. I wouldn't take such risk if I were you.

Quote from: palle11 on June 19, 2021, 08:57:52 AM

Learn not to invest your money in such a project you can't determine what the team is up to. Moreover is a big money that you have involved in it for a project of such not listed in a reputable exchange. Your enquiry here when you have already invested is not a wise idea. Make research first before you get your money in.

Exactly my point too. I wish OP had done the DYOR stuff pre-investing than post-investing.

tokoorochan

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Quote from: ?? on ??

tokens with a very large supply, I don't trust or doubt projects that have this kind of supply, you are new here and immediately buy hype tokens like this, I doubt this but if you insist it's your choice, you should start with top coins on coiningekco /cmc.

mostly this kind project only take advantages for their self, and ignore to investors if this project will be shitcoin or maybe scam. project with huge supply and no utility or usecase should not get our money, its purely speculation project for developers team itself. just look at existing project, are there of them still survive till now on? its better to invest our money into major coins in top 100 cmc.

ene1980

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If you start investing in cryptocurrencies just because you saw some advertisement then you will not trade in the market for a long period of time because you will be burning enough money so that you will never return again to try your luck. I am not aware of the project in which you invested and there are literally thousands of new coins coming out monthly and it is hard to follow everything.

Before investing you need to learn about them, check out their team and lean about their plans and if you are convinced that they will deliver then you can invest and i am not sure how much time you spend to research about them before investing.

santiPOGI

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I don't have idea about this one, But according to what I understand on this one, it is not good dude.
If you want to make sure about the coin you like to buy or invest better for you to invest coin that is
one of the top listed in the market, at least with it you are sure that your investment has a chance to earn
good in the future.

Fortify

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Quote from: UKprod on June 17, 2021, 02:42:35 PM

CAVA sounds a lot like KAVA which is a genuine finance/lending/borrowing crypto project. So this itself is a red flag for me, because CAVA seems to be banking on KAVA's popularity. Further, the logo is a dog which looks like it is trying to copy dogecoin. It just seems to be gaining on the popularity of other blockchain projects.

While the project does seem novel with involvement of charity, I would really not claim it a moonshot since there are many blockchain projects working on charity and this is nothing new.

Everything you say is true, however it is worth considering that it's getting harder and harder to come up with original brand names these days. It can be two business founders that have never heard of the other, may live in different countries and it could have totally different meanings in other languages. Every altcoin is banking on the popularity of previous blockchain projects - the original and greatest will always be Bitcoin. I'm actually skeptical that involving charity is necessary, as it seems to send mixed messages on what it will be used for and sometimes sending money to charities can be abused. A cryptocurrency should not include that, it should instead be purely built around business or personal transactions, with the owner donating entirely separately as they choose.

Saisher

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Quote from: hamu3l on June 17, 2021, 12:33:07 PM

Hi everyone.

Recently I aped (full degen) $CAVA (UNISWAP) after seeing some advertisements. Anyone else involved in this project or know the direction?

https://www.cava.finance/

Thanks in advance if you know much about ETH blockchain or this current project!

You are not so sure about your investment because you are asking here and wants validation that you did the right thing, this is a wrong mindset, when you have done diligent research and invested in the project, then you should stop asking if you did the right thing and just follow the development of the coin you've invested and support it if you are not comfortable might as well dump it.

palle11

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Activity: 2366

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Learn not to invest your money in such a project you can't determine what the team is up to. Moreover is a big money that you have involved in it for a project of such not listed in a reputable exchange. Your enquiry here when you have already invested is not a wise idea. Make research first before you get your money in.

babygun

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Activity: 2170

Merit: 254

Quote from: shinratensei_ on June 17, 2021, 09:31:55 PM

https://www.coingecko.com/en/coins/cavapoo You meant about this coin, right?
This is a garbage coin dude and so you have invested your money without try to did any research before? it sounds like you are gambling your money without know what coin that you have used it to gamble.
that's the same like another garbage coin

With some luck this shitcoin can still go the moon but chances are 99.5% that it will be: bye bye money lol.
I also invest sometimes in a shitcoin in the hope to score some quick profit, but my maximum input is always 50$ or lower.

enawati

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Why bought tokens that have high risk? I think this is bad decision by using alot of money. This is new tokens that similar or copy other project. This tokens only listed in unpopular exchange with very low trading volume. Dont take too much risk, and for the better choose high cap coin which all of them now in the bottomed price.

worle1bm

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Quote from: hamu3l on June 17, 2021, 12:33:07 PM

Hi everyone.

Recently I aped (full degen) $CAVA (UNISWAP) after seeing some advertisements. Anyone else involved in this project or know the direction?

https://www.cava.finance/

Thanks in advance if you know much about ETH blockchain or this current project!

So you decided to invest €700 in the project or memecoin for which you have no prior knowledge?You just look at advertisement and invest and now asking about its details from others? This is one of the worst strategy for trading speaking frankly dude.These days many memecoins or so called doge killers are in the market being pumped by whales to scam you of your funds. Don't bother to invest in them as they will give you nothing in the long run.

Moreover it was launched on 1st June this month and with 10 quadrillion supply out of which 5% will be burned monthly 3% rewards for each transaction doing charity and other.Sound lucrative to investors but in reality they have no utility so best advice satu away from such coins.

leea-1334

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I have never heard of this unfortunately,,, and of course I do not keep up in these deficoins at all so I would never have heard of even a good project if it came out.

Be wary even yesterday supposedly stable and secure defi coin went to zero. Rug pulls all over the place and from a glance this looks exactly no different from all other defi projects. Put money in. Earn APY. Where is the value of that?

Topic: Bought £700 worth of a cryptocurrency I don't know much about, is this moonshot? (Read 261 times)