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Top 3 Risky Coins to Avoid Investing in 2019

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Investing in cryptocurrencies is still a risky way to handle your money. Despite all the progress that cryptos were able to make since they exploded in mid-2017, they remain just as volatile as ever. The bear market of 2018 damaged a lot of investors who joined the trend lately and were forced to buy the coins at higher prices.

However, if your intention is to HODL and waits for the more prosperous times, then cryptocurrencies are probably the best way to go about it.

With that being said, there is still one important issue, which revolves around which coins you are going to invest in. Obviously, not every coin is the same, and even if all cryptocurrencies are risky, some of them are much riskier investments than others. The risk you are taking is somewhat softened if you choose one of the top coins. That way, you will at least have a confirmation that those are real coins, and not scams or dying projects.

However, even then, you must be careful as some high-risk projects managed to find their way up and join the proper ones. Here are three such ricksy coins, which you might want to avoid if your goal is to make a good investment.

1. Tether (USDT)

Tether emerged as the ‘savior’ of investors when the crypto winter first struck, and investors had no choice but to watch their funds decline. The stablecoin has been around for a while at that point, but stablecoins were not nearly as popular or accepted as they are today.

Tether came as a stable investment due to its connection to USD, with each coin being backed by $1. That also allowed it to keep its price stable, and bypass the volatility that has affected nearly all other coins. However, Tether found itself in quite a controversy after it refused to provide insight into its bank account. This has led many to believe that the coin doesn’t have enough USD to cover all of its circulating supply.

Tether has been finding ways to avoid audits since it came under the spotlight, and the uncertainty makes it a very risky investment. If these fears turn out to be true, investors who buy USDT might find themselves in possession of worthless coins.

2. Verge (XVG)

Verge was a popular privacy coin that seemed to be on the right path to be one of the top cryptocurrencies. However, the coin suffered a massive blow around a year ago when hackers discovered flaws in its mining code. This has led to a number of attacks on Verge’s blockchain, the abuse of its mining system, and theft of massive amounts of coins.

Verge suffered four attacks in total, and after each one, its developers claimed they fixed the issue, only for another attack to prove them wrong. Since then, many have decided to abandon it in favor of Monero, Zcash, and other privacy coins. Lately, Verge developers started considering shifting towards PoS, but there is no guarantee that the coin will ever awaken the interest again, or regain the same quality it was once thought to have. As a very risky investment, we recommend skipping this one.

3. Dogecoin (DOGE)

The last coin we would recommend avoiding is Dogecoin (DOGE). DOGE came to be as a meme back in 2013, but against all odds, it got the interest of many investors. Even to this day, DOGE sits higher than anyone would have expected, currently ranked as 28th largest cryptocurrency by market cap. So, why should you avoid investing in DOGE?

The answer is simple — the coin has no total market cap. In other words, it can be mined infinitely. The coin’s circulating supply already exceeds $118.8 billion tokens, and the supply is only going to get bigger, and bigger. More transactions mean more blocks, and the more blocks, the more mined coins, and this infinite loop will prevent DOGE from ever reaching high prices and gaining any large value.

Even if the project starts burning its coins, it would have to hold massive token burns all the time in order to be able to cope. And, since its creator decided to distance himself from the project, there was a large lack of any true leadership. DOGE continues to live on, but only as a meme that refuses to die. It is a popular and interesting coin, but it is highly unlikely that it has a future.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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