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Psychology of Money

@psychologyMoney_Tg

Kanal geosi va tili: Hindiston, Inglizcha

Toifa: Psixologiya

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This channel is all about Crypto . Join and unmute our channel for best experience.
@xojuice

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Psychology of Money

23 Oct, 22:04

📌How to Choose a Crypto Exchange

Why Is It Important?

Choosing an exchange is similar to selecting a financial advisor or a bank. It affects not only the safety of your funds but also how effectively you can trade and manage your investments.

Key Factors to Consider

🔵Reputation and Reviews: Trusted sources and community feedback can offer valuable insights.

🔵Security Measures: Look for exchanges that offer two-factor authentication (2FA), cold storage of funds, encryption, and insurance against theft.

🔵Fees Structure: Similar to comparing service charges between banks, compare the fee structure of various exchanges. This includes not just transaction fees but also withdrawal fees, and how they change with different trading volumes or cryptocurrencies.

🔵Payment Methods: Like the variety of payment options at a supermarket, check what payment methods the exchange accepts. This can include bank transfers, credit/debit cards, PayPal, and other digital wallets.

🔵Geographical Restrictions: Some exchanges may not operate in your region. Verify that the exchange is available in your country and supports your local currency.

🔵Liquidity: High liquidity is like a busy marketplace; it ensures you can buy and sell easily without affecting the price too much. An exchange with high liquidity provides better price discovery and faster transaction execution.

🔵Regulatory Compliance: An exchange that follows regulatory guidelines is more likely to be reliable and secure.

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Psychology of Money

21 Oct, 19:16

✅Cryptocurrencies look to offer several benefits over traditional money.

➡️These include:

➡️Speed: With cryptocurrencies, sending money – or value – across regions or continents happens in a few minutes. This trumps traditional cash, which takes hours to days in some cases.

➡️Security: Cryptocurrencies run on blockchains, which are distributed and decentralized. Since they are not centralized, there’s no single point of failure. This makes the blockchain harder to corrupt or hack.

➡️Censorship-resistant: Anyone can use cryptocurrencies. They offer users financial freedom. No government or central authority can censor or reverse a transaction once it’s completed

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Psychology of Money

20 Oct, 20:14

What is Liquidity and How Do Liquidity Pools Work in DeFi?

🔵 Liquidity refers to the ability to quickly exchange assets without significantly affecting their price. In the world of DeFi, liquidity is crucial as it ensures the smooth operation of decentralized applications (DApps) and decentralized exchanges (DEX). But how does it work?

🔵 Liquidity Pools are smart contracts that hold pairs of tokens (e.g., ETH/USDT), allowing users to easily swap one token for another. These pools are created by users who deposit their assets into the pool in exchange for rewards.

How do liquidity pools work?

🔵 User Contributions:
Users deposit tokens into a liquidity pool and receive LP tokens (Liquidity Provider tokens) in return, which represent their share in the pool.

🔵 Swapping:
When someone wants to swap one token for another, they use the liquidity from the pool. In return, the pool charges a small fee, which is distributed among liquidity providers.

🔵 Rewards:
Liquidity providers earn income from a portion of the fees collected for each transaction in the pool. The more transactions, the higher the potential earnings.

🔵 Risk of Loss:
It's important to be aware of the risk of impermanent loss, which occurs when the value of the tokens in the pool changes significantly.

🔵 Conclusion:
Liquidity pools are a key part of the DeFi ecosystem, providing users with an easy way to exchange assets. Participating in pools can generate income from fees, but also comes with certain risks.

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Psychology of Money

19 Oct, 19:22

What are Crypto Stealth Addresses & How do they work

Stealth addresses are revolutionizing privacy in blockchain transactions, offering a more secure way to obscure transaction history. Unlike traditional public addresses that can be traced, stealth addresses create a one-time address for each transaction, enhancing the confidentiality of digital currency transfers. This work in the following steps:

1. Stealth Address Creation: The recipient, say Bob generates two cryptographic keys: a public key (shared with Alice) and a private key (kept confidential).
2. Transaction Setup: Alice uses Bob's public key to create a unique address for their transaction, unlinkable to Bob’s public blockchain address.
3. Sending the Funds: Alice sends cryptocurrency to this one-time address, posting an ephemeral public key for Bob on the blockchain.
4. Receiving the Funds: Bob decrypts the stealth address using Alice’s cryptographic information and accesses the funds securely.

This process, powered by the Diffie-Hellman key exchange protocol, ensures that transactions remain anonymous and untraceable, providing an extra layer of security in crypto transfers.

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Psychology of Money

17 Oct, 20:51

Crypto speak: FUD😱

When trying to read the overall sentiment of the crypto market, some like to spread FUD, which stands for “Fear, Uncertainty, and Doubt.” Pundits, journalists, and random internet denizens often spread negative news, criticisms, or rumors about a project, and this creates FUD.

✅The central goal of FUD is to create so much panic among investors that it crashes the price of a cryptocurrency💰

FUD is not exclusive to crypto; it can be applied in any industry. However, the crypto world is rife with FUD, so if you’re following a crypto whose price suddenly tanks, it doesn’t mean the project is going belly up.

It’s entirely possible that the project was a victim of FUD.

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Psychology of Money

15 Oct, 22:48

Who are Bulls?

Bulls are a term used in financial markets to describe traders or investors who believe that the prices of certain assets will rise. They act based on the belief in an upward market trend and buy assets to profit from future price increases.

Main characteristics of bulls:

🔵Bulls are usually optimistic and expect that the market or a specific asset will rise in price.

🔵Bulls buy stocks, bonds, commodities, or other financial instruments, expecting their value to increase.

🔵Bullish investment strategies focus on long-term growth and capital appreciation. They may include buying the dip and holding assets for an extended period.

🔵A prolonged period of rising market prices is called a bull market. During such times, the economy often thrives, and investor sentiment remains positive.

Impact of bulls on the market:

🔵Active buying by bulls can lead to rising asset prices and improved overall market sentiment.

🔵In periods of excessive optimism, bulls can contribute to the formation of financial bubbles, where asset prices significantly exceed their intrinsic value.

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Psychology of Money

13 Oct, 20:13

Basic concepts of investing in crypto: some conclusions | Part 2 🗼
ㅤ
Here we have prepared part 2 of the post with interesting conclusions about investing and crypto projects. Enjoy learning.

If you missed part 1, it's here.

➡️ 1. Those who can adapt will survive

We buy fundamentally important projects that are least likely to lose their relevance (due to a change in trend or the emergence of a new competitor). Crypto is a high-tech sphere, so even on SUI and all sorts of ZK-chains we will not stop, I am more than sure that with time these guys will become old and boring projects, and new, faster and more powerful blockchains will replace them.

⚫️That's why we look at blockchain tokens (except BTC) infrequently and with great caution. And if we choose such a project, it is only for the next trend, but not for the long term.

⚫️Various Dapps also do not inspire confidence in the long term. For the most part, the market stays with industry leaders like PancakeSwap and Unuswap, eclipsing the rest of the competition and their pathetic attempts to overtake older projects. The big fundamentally important Dapps (exchange services, lending) are already entrenched, and it's very hard to move them. All the rest are either copies of other EVMs, or other Dapps with more narrowly focused ideas that often do not survive because they do not gain the necessary popularity and customer base - the business simply does not make money.

⚫️Here we are interested in aggregation stories, that is, those projects that gather the user base around them but do not depend on the trend and blockchain. An example is 1inch, an aggregator of exchanges, because the guys gather a huge user base around them and they don't care which blockchain or token is trending, 1inch in any market will only grow every day. There are wallets like TrustWallet that, regardless of external factors, are gathering more and more customers by providing them with quality services.

↪️ 2. Is the business making money?

It's important to understand the business model of the project. Examine the metrics and understand, is the project making money and how much? And also figure out if it will make money in the future? And consider all the options for how the project can monetize itself. If the project makes money, then it will have money for the team, development, and advertising. If the project doesn't make money, even investments won't save it, just help it live a little more than others.

➡️Here's an example: 1inch collects tens of thousands of users on its platform, but 1inch itself is only an aggregator, it gives the best rate. Users love this feature, and many are willing to pay 1inch an extra commission for each swap in the future.

➡️ 3. Tokenomics

If the project fits these two parameters, I look at tokenomics and capitalization: how many tokens are in circulation now and how many will be in the next 5 years. After evaluating all the parameters, I make a decision.

⚫️Very often it happens that the first two parameters are ideal, but when I get to the tokenomics and capitalization, I realize that there is nothing to do.

It is important to find a project that passes the first two parameters and at the same time will be obscenely tempting in terms of tokenomics and cap.

💭 If this post was helpful to you, please put 🔥. We appreciate it.

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Psychology of Money

13 Oct, 14:15

What is a crypto mixer?

Crypto mixers are services that allow you to “mix” your crypto so that it is impossible to track.

Imagine you are at a big party, where everyone takes a handful of coins out of their pocket and throws it into a common bowl.

Then, everyone randomly draws a few coins, which, of course, do not belong to them. This is similar to what a cryptocurrency mixer (or tumbler) does.

Let’s look at an example:

Let’s say Alice has 1 Bitcoin she received from Bob and wants to spend it somewhere. But she doesn’t want anyone to be able to track where this Bitcoin is stored and that it belongs to her. Therefore, she uses a cryptocurrency mixer.

This mixer takes Alice’s Bitcoin and mixes it with a lot of other Bitcoin from different people. Then it sends 1 Bitcoin (not the original one, but one of those that were mixed) to the address specified by Alice. So, now, if someone tries to track down the Bitcoin spent by Alice, it will end up in the mixer and get lost in thousands of transactions.

So, why do people need this?

You already know that most cryptocurrencies are not completely anonymous and that your transactions can be tracked through a blockchain explorer.

This means that, without using tools like mixers, your transactions can potentially be tracked.

Thus, mixers are important tools in the search for privacy in the cryptocurrency world.

Of course, we gave the most harmless example of “mixing” coins. In fact, mixers are quite often used by scammers who want to “launder” money.

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Psychology of Money

13 Oct, 14:15

What does “market capitalization” mean?💼

➡️ A “market capitalization” is an indicator of the general value of a cryptocurrency. To calculate it, multiply the price of one coin by its total number of coins in circulation (however, CoinMarketCap and CoinGecko do this for you already).

💭For example, if the price for one coin is $100 and there are 1 million coins in circulation, its market capitalization, or “market cap,” will be $100 million.

➡️ A coin’s market cap is a data point that gets a lot of attention from investors because it shows how much the market values a specific coin. The higher the market cap, the more valuable the coin is.

Although there’s always tons of chatter surrounding the market caps of various cryptocurrencies, it’s by no means the only data indicator of a coin’s health

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Psychology of Money

12 Oct, 20:12

Basic concepts of investing in cryptoproject tokens | Part 1 🇸🇦
⠀
Investing in tokens is not the stock market. Investor protection is out of the question here. We send our hard-earned $$$ buying another altcoin of progressive Dapps or incredibly fast blockchain, hoping to get rich quickly. Fast riches are what bribe us the most, so we are willing to take those risks. But how do we keep those risks to a minimum? Here are a few conclusions.

🟢First of all it is worth understanding that there is speculation and investment:

➡️ Speculation - when we see a short-term benefit in some token and buy it in order to exit at a certain point (on news or an event) and take a profit. It can be buying before an IDO, before an update, before a burn, or just for a short-term perspective before some expected trend.

↪️ Investing is investing money in fundamentally strong projects for the long term. This is where we believe in technology, and try to find our future Apple and Microsoft in the web3 world.

Speculation interests us mostly in a bull market, when you can find interesting ideas in the moment and win back deals. In a bull market, every news and event gives a good jump for a token, which almost never happens in a bear market. But the time to invest is always a bear market.

😀 Right now, we think it's a pretty good time for fundamental investments over the long term. We have some interesting conclusions on this topic. Click on 🔥 and we will post them tomorrow.

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Psychology of Money

11 Oct, 19:29

These mistakes can cost you money 😯
⠀
People often make the same mistakes, causing them to lose their savings. We've compiled a few common mistakes that can damage your deposit and morale.

➡️ Unconscious decision making.
Don't follow the strategies of other investors, but make your own plan to understand every action you take.

Remember that even plans can contain mistakes. Be willing to change strategies and adapt to market conditions.

➡️ Improper diversification.
Investors who put everything on one card often lose. But many still "put their eggs in one basket" and often suffer losses

➡️ Keeping assets only in cryptocurrency.
Keep your money in both crypto and fiat currencies. Also, delight yourself with nice little things from your crypto income (if you have one of course). This will keep you motivated and looking for new smart ideas.

➡️ Blind faith in projects.
You shouldn't believe everything the media says about projects. Conduct DYOR and take responsibility only for yourself.

The key to working on mistakes is to listen to your own opinions and know what risks you are willing to take.

❔ Have you ever made one of their mistakes? If not, you are a super super person.

No - 👍
Yes - 👎

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Psychology of Money

10 Oct, 21:11

WTF - What The Fact ⁉ dan repost

Crypto Scam: The OneCoin scam, which stole more than $4 billion

Today, we’ll tell you about the OneCoin project, the largest scam in the history of crypto.

In 2016, Ruzha Ignatova, also known as the “Crypto Queen,” declared the OneCoin token a “Bitcoin killer.” Investments in OneCoin came from all over the world, but Ignatova and her team did not even create a blockchain for their coin, meaning the coin never went live for trading.

After transferring control of OneCoin to her brother, who pleaded guilty to fraud, Ignatova disappeared in 2017 and has not been seen since. In June 2022, she was added to the United States Federal Bureau of Investigation’s list of the top 10 most wanted criminals.

The scam ballooned to $4 billion because very large players also invested in the project.

The lesson here is simple: Anyone can make a mistake. Therefore, never give in to FOMO and also always DYOR.

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Psychology of Money

10 Oct, 12:09

Security in crypto

Another helpful tip: Be careful when using public WiFi networks or computers, as they may be vulnerable to hacker attacks.

If you are in a cafe and decide to make several crypto transactions, your personal information could be compromised. Through public WiFi networks, attackers can easily steal your data, including passwords, bank details, and personal information.

Sometimes, they launch their own access points to the free internet for these purposes.

Therefore, only conduct your crypto transactions exclusively through reliable internet service providers.

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Psychology of Money

9 Oct, 20:28

What are token listings and delistings on exchanges?👻

It’s straightforward.

A “listing” is the launch of a particular cryptocurrency in a specific crypto platform.

Imagine that there is a cryptocurrency WIRED. Any crypto exchange—e.g., Binance—can list it, making it available to buy and sell.

If WIRED was not on Binance yesterday but it’s available today, it means that Binance has listed WIRED.

Many newcomers think that crypto exchanges have “all” cryptocurrencies listed. However, that’s not how it works. The higher the rank and authority of the exchange and the more users it has, the more carefully the platform approaches coin listings to avoid listing fraudulent or frankly unreliable projects. (Although, exchanges seem to have a good time listing memecoins!)

Meanwhile, “delisting” is the removal of a coin from an exchange. It can happen for various reasons—e.g., the token has ceased to meet the exchange’s standards or has problems with regulators (or the project has tanked, which also happens).

By the way, getting listed on Binance, the world’s largest crypto exchange, is regarded as a sign of prestige in the crypto world—and it’s not easy to land your coin on the exchange.

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Psychology of Money

8 Oct, 20:21

Crypto Speak: Whitelist and Blacklist

When a new crypto project is launched, it can choose to restrict participation to certain individuals.

Whitelist:

This is a list of wallet addresses that are allowed to participate in the project—i.e., they have the right to buy tokens in the early stages.

To land on a whitelist, participants usually pre-register, go through a KYC process, and meet other project requirements.

Blacklist:

This is a list of addresses that are banned from participating in the project—e.g., wallets associated with fraudulent activity, money laundering, or other activities that the project considers unacceptable.

It looks like a new crypto bull run is on the doorstep, where you’ll come across the word “whitelist” more and more often 😎

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Psychology of Money

8 Oct, 16:25

Why don’t my funds get deposited?

A widespread problem for beginners: They transfer funds from one wallet to another, but the coins don’t get deposited.

Why?

There are 3 main reasons:

1. The processing speeds of blockchains. Sometimes, blockchains are slow, and transactions take longer than usual. For example, in Ethereum, transactions can sometimes last for hours.

2. Invalid network or address: You could have made a mistake when choosing the network. For example, if you transfer your USDT from the Tron network to the BNB Smart Chain network, the transaction will not pass. Make sure the network and address match.

3. A memo is not specified: Some blockchains require specifying a memo when sending transactions. A memo is a “comment” on a transaction. If necessary, the exchange will warn you what memo you should specify, so read the instructions carefully.

And one more general tip: If you’re making a transaction for the first time, make a test transfer by sending the minimum amount — e.g., 1 USDT. If it’s successful, it’s safe to send whatever amount you want to that address.

Don’t forget that, in the crypto world, it’s often impossible to return money lost or sent to a wrong address.

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Psychology of Money

7 Oct, 22:27

Speaking of Crypto Speak…

If you forget some of the slang words we’ve published, you can always use this crypto glossary.

This is an extensive section on our website where you can quickly find almost any concept in crypto and learn its meaning.

You can find the glossary here.

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Psychology of Money

7 Oct, 19:20

01:54

Video oldindan ko‘rish uchun mavjud emas

Telegram'da ko‘rish

🥇 What bitcoin mining looked like in 2013 when the cost per BTC was $100.

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Psychology of Money

6 Oct, 22:40

Crypto scam: Trading bots and “multipliers”

Often, various persons offer to buy “trading robots” or bots that “know how to bring a stable profit” of 100%–500% per month.

Also, some projects offer to send a random amount of crypto to a certain address (for example, 10 USDT) with the promise to “multiply” it by several times — e.g., to return as much as 100 USDT instead of 10 USDT.

There are trading bots, but they are used for specific tasks: large investment funds, market makers, and trading companies. The prices of such bots are measured in millions. They are not universal, and no one exactly sells them in the public domain.

Therefore, never trust promises of quick and easy profits.

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Psychology of Money

4 Oct, 21:17

What do I do if I lose a seed phrase?

It’s a common yet critical question. After losing a recovery phrase, people panic and don’t know what to do next.

We can suggest two things:

1. Any noncustodial wallet you are authorized to use has a backup function: You can find it in the settings, and the wallet will show you the seed phrase.
2. If you don’t know where the piece of paper on which you wrote the seed phrase is, it’s best to withdraw all your crypto to a newly created wallet and keep those 12 sacred words more carefully from that moment on. If you’re sure it is destroyed (for example, it was eaten by your cat or mangled by your child), then it’s okay. Just restore it directly in your wallet and continue using this address.

But if you’re logged out of your wallet and have no idea where you’ve placed your piece of paper, that’s when you have serious problems😬

#Crypto #Tips

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20 ta oxirgi post ko‘rsatilgan.

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