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Keep in mind this is a long-term investment. Therefore, do not use money you might need in the next two or three years while we wait out this “crypto winter.”
A day trader who wants to risk large sums of money, hoping that the price will rise sharply in one day or even a month, might be sorely disappointed. You must be willing to accept the risk.
We decided to risk $50. It’s not our grocery money.
Also, keep in mind this is not investment advice. It is a report of the current value of Saitama and a look at the possibilities with a small buy-and-hold purchase. Don’t get sucked into the hype.
It is an Ethereum-based ERC-20 token. The founders say they have burned 55% of the 100 billion tokens, which leaves a circulating supply of 45 billion tokens. Currently, 38 billion tokens are in circulation.
Now is the time to buy. If you like the project, its credentials, and tokenomics.
For all you gamers, they have three play-to-earn (P2E) Wolfcaster Games currently in development.
If you like non-fungible tokens (NFTs), they have a proprietary NFT platform — FANG.
Their three-prong belief system is:
Think about it. Most people believe Bitcoin (BTC) is all there is to crypto. They don’t realize there are nearly 20,000 altcoins, many with different projects and purposes.
However, everyone deserves an opportunity to thrive and raise their lot in life through investing.
Community is one of the key ingredients to a successful altcoin project.
Be careful when you buy; there are many fake tokens out there.
Less than five percent of investors increase their portfolio’s value during a bull run. In fact, for most, the opposite is true.
They buy BTC and altcoins at all-time highs (ATH) and then sell when the price dips in a bear market due to fear, uncertainty, and doubt (FUD).
Some theorize that is what happened with SAITAMA. It reached a market capitalization of $7.5 billion in NOV ’22. Then, it took a downturn when the crypto winter or bear market set in.
However, version two gave it a new, more secure ecosystem and a “non-custodial mobile wallet app SaitaPro,” available on Google Play. These new features gave it a new life, reaching an ATH of $0.007825 in JUN ‘22.
It has since dropped nearly 85% and hit an all-time low (ATL) of $0.001001 on 20 OCT ’22.
What you must decide is whether this is a worthwhile project to buy-and-hold, or if it will bottom out and disappear?
You must consider what Warren Buffett, one of the most successful investors ever, said:
Of course, Mr. Buffett has many wise sayings about investing.
#Saitama #Saitamask #SaitamaToken
Ignore the hype, and do your own research (DYOR). Do not get emotionally involved with any cryptocurrency. Always have an exit strategy.
“The live Saitama price today is $0.001165 USD with a 24-hour trading volume of $1,801,227 USD. We update our SAITAMA to USD price in real-time. Saitama is down 1.68% in the last 24 hours. The current CoinMarketCap ranking is #385, with a live market cap of $44,967,273 USD. It has a circulating supply of 38,605,752,722 SAITAMA coins and a max. supply of 100,000,000,000 SAITAMA coins.” — Coin Market Cap.
I’m sure you’ve heard that some exchanges like Binance, Coinbase, or Kraken are “too big to fail.” People used to think that about Voyager and Celsius, which recently declared bankruptcy. DO NOT leave your coin on an exchange.
Even Binance was hacked for around $570 million. No Federal Depositor’s Insurance Corporation (FDIC) protection for cryptocurrency exists. You’re on your own.
Therefore, the best protection against an exchange going bankrupt or getting hacked is to move your altcoins off the exchange to a cold wallet.
Cryptocurrency-linked crime surged to a record high last year in terms of value, with illegal addresses receiving $14 billion in digital currencies, up 79% from $7.8 billion in 2020. — Reuters.
There are many to choose from, but the most popular and easy to use is the Ledger Nano X “cold wallet.” A cold wallet is like an external hard drive or flash drive that connects to a USB port when you want to buy or sell.
“As an Amazon Associate, I earn from qualifying purchases.”
#crypto #Staking #coldwallet #nanotechnology #ledgerwallet #ledgernanox #Saitama #Crypto #cryptocurrency #cryptocommunity
DISCLAIMER: This article is for entertainment and informational purposes only. It should not be considered financial or legal advice. Not all information will be accurate. I am not a financial adviser, and you should consider anything I write as informational and friendly banter to show you what is possible if you invest your money in these vehicles. However, there are no guarantees. Consult a financial professional before making any significant financial decisions.
Note: This post contains affiliate links. Read my disclosure statement for additional information.
Stephen Dalton is a retired US Army First Sergeant with a degree in journalism from the University of Maryland and a Certified US English Chicago Manual of Style Editor. Also, a Top Writer in Nutrition, Investing, Travel, Fiction, Transportation, VR, NFL, Design, Creativity, and Short Story.
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