Crypto Academy Week 14 - Homework Post for @pelon53

Hello professor@pelon53, your class was such a loving type,thanks for the class.

This is my homework task for the week below

Question1

A penny cryptocurrency is a digital currency that trades for less than a dollar. Just like small stocks, penny cryptocurrencies are very cheap currencies that are worth literally a few cents.

Penny cryptocurrencies are a type of alternative investment that can be categorized into four classes:

-Mining-based cryptocurrencies

-Stable Currencies (Find out here what are -stablecoins and how do they work?)

-Security codes (see everything you need to know about security code offerings)

-utility

Advantages

• These currencies can generate huge returns in a short period of time.
• For users who don't have a lot of investment capital, this is an option
• When investors bet on the currency, the price for its capitalization rises.
• This is a itinerary option for a user with little investment capital.

Disadvantages

• If the volatility is not good for you, and you invest in the historical price of the currency, the price may collapse because many whale users will benefit from their investment from these rebounds.
• Usually its price is very reasonable.
• Most of these cryptocurrencies do not have strong projects
• The total supply of these coins is very large.

Question 2
Polygon-matic

Formerly known as the Matic Network, Polygon is an interoperability and scaling framework for building Ethereum-enabled blockchains.

It seeks to address some of Ethereum's main limitations - including productivity, poor user experience (high speed and late transactions), and lack of community governance - with a new secondary solution.

As part of the new strategy, the project also included prominent and influential Ethereum developers such as Hudson Jameson, Ryan Sean Adams, Anthony Sassano and John Lyric as advisers.

The Polygon SDK and Platform turn Ethereum into a multi-threaded ecosystem. It's the same as other projects like Polkadot, Cosmos and Avalanche.

The MATIC code is used for a variety of purposes in the Polygon ecosystem, including participating in network governance by voting on Polygon Improvement Proposals (PIPs), contributing to safety through strikes, as well as payment of gas costs.

Question 3

I don't plan to invest. The legal issues they encountered with the Securities and Exchange Commission have not yet been fully resolved. This has caused a lot of mistrust. This is a risk I don't want to take. I read in December 2020 how Reddit users lost their website due to the problem, and many of them lost a lot of money. If the US Securities and Exchange Commission sue the company again, we may see the price of XRP fall.

Another thing I don’t like about currencies is the centralization of banks. I highly doubt the number of references the company provides in its name, especially because I prefer decentralized finance and transparent teams.

Dogecoin

The value of Dogecoin is $0.342, ranking fifth. It has the strongest cryptocurrency community. It is loved by many people and hated by others, but Dogecoin does not have any items to support its price. Elon Musk is currently working with Dogecoin developers to improve the signal function. The future is uncertain, but it has the support of the world’s number oneg

Steller (XLM):

At the 14th, XLM is valued at $ 0.65. It is a direct, nonprofit, decentralized opponent of XRP. Stellar aims to convert any currency quickly and securely between different countries. The Stellar blockchain is not used as a direct payment method, but as a means of instant currency conversion. Although XRP and XLM are similar, they are completely different, but XLM brings more solutions and innovations to the market and has a better future. XLM has made a lot of progress and the current price has gone up a lot, but with such a powerful and widely acclaimed project, you can expect it to be no dime digital currency.

BitTorrent (BTT):

When choosing BTT, I considered several conditions. I think her work on the Tron network and the support of the Tron Foundation is an important detail. It is one of the top 50 best cryptocurrencies by market capitalization. The daily turnover is close to 1 billion, and it is very large. When I looked at its technical analysis, I noticed that its price tends to rise. It is listed on major exchanges such as Binance, Huobi, Poloniex, KuCoin and Bithump.

Dent:

I should treat Dent as a potential investment, otherwise I would contradict myself. I introduced Dent Investment in detail in the second question. It is important to provide solutions for mobile communications. The trading volume of the day was very good. There is a very strong community on social media. When I checked the technical analysis, I found that it was sending a buy signal.

WINkLink (WIN):

There is a very strong community behind WIN. A project that produces solutions in this area. Supported by Tron Time. It hit its highest level in April, but hopefully it will recheck that level and hit a higher price point. It is important to list on exchanges such as Binance, Poloniex, KuCoin, and Bithump. The daily turnover exceeds 70 million US dollars.

Question 6

I invested in HBAR with over $300 as it can be seen in the image below.

But it is so shocking because I'm on loss presently. I have also place an order to sell when the price rises as it is seen in the image.

CONCLUSION
The cryptocurrency of a penny varies widely. These investments must be considered. When we invest in cryptocurrency, we need to invest in funds that we don't need. This can significantly contribute to the price increase.