"News Updates June 04, 2023"
1. Uniswap Summit Is Subtly Faked With Malicious Intent. Founder of Uniswap Hayden Adams has informed the community of a sophisticated fraud in China mimicking Uniswap. On June 2, the crypto community on Twitter published a video about the Uniswap conference, the biggest DEX in Ethereum today, which took place in May.<\/p>\n
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The meeting billed itself as “The first Uniswap Asian Summit,” with a special appearance by the “CEO of Uniswap.”<\/p>\n
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The intricate degree of the impersonation scheme is shown not only in the magnificent size and backdrop of the video conference but also in the fact that the persons behind it built up a website for the Chinese Uniswap community, posted articles in Mandarin, and directed users to the DEX. In addition, additional high-ranking people, such as the chief technology officer, chief operating officer, chief finance officer, and so on, take part in community exchanges.<\/p>\n
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Not content with that, the conference also included a video AMA with Uniswap’s CEO, who presented himself as “Mike Hanlon” and is presently the “Global Director of Uniswap Community.”<\/p>\n
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Hayden Adams, the true founder of Uniswap, quickly moved to Twitter to disavow any affiliation with the conference and warn the community about scammers imitating the organization.<\/p>\n
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It is unknown why the aforementioned Uniswap imitation conference could take place in China, which has prohibited cryptocurrencies since 2021. Yet, it demonstrates the members’ audacity. To entice naive investors, fraud might be used.<\/p>\n
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Others claim that the meeting was hosted in Hong Kong and then invited Chinese guests.<\/p>\n
Celebrity imitation frauds are still a concern in the crypto sector, with the most prevalent being the method of hacking huge project accounts to publish fake messages or shill spam initiatives.<\/p>\n
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According to others, this is not a new method but has been used many times by Chinese whales to dump coins like FIL or OP on novices.<\/p>\n
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The crypto investing fever is returning to Asia, with the Hong Kong government beginning to accept operational licenses from crypto businesses on June 1 and allowing investors to purchase and sell digital assets. There are still numerous stringent constraints to encryption. Apart from the foundation of Hong Kong, China is a region with numerous prospective web3 or crypto enterprises.<\/p>\n
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2. My PROFIT Making Strategy in Crypto Bear<\/p>\n
Dollar-cost averaging is a great tool if you’re busy to invest in crypto. This is a great Binance tool for you to easily set & forget your perfect DCA strategy.<\/p>\n
DCA-ing in a bear market = BIG Profits in Crypto Bull Market. Are you too busy to invest in crypto regularly, but want to make big profits? Then dollar-cost averaging is for you. See our article on this topic. Not only can you get profit from the rise of the crypto market. I also take most of the emotional ups and downs out of the game. Emotions that cost you money.<\/p>\n
Dollar-cost averaging (DCA) for short means buying a chunk of crypto at regular intervals. For instance, every day, every week, or every month. But right now, I’m going to reveal a mysterious DCA tool that is most probably at your fingertips right now, but you’re completely unaware of it. So stay tuned.<\/p>\n
What is Binance Auto-Invest?<\/p>\n
So, I found a great DCA strategy that you can follow; Binance auto-invest. You can choose your own basket of crypto coins. When to buy and for how much. But it gets better. It even has an option where it does all the hard work for you. You don’t even have to think too much about it. It helps pick and rebalance your coins. More on that in a second.<\/p>\n
How Does Binance Auto-Invest Work?<\/p>\n
The first option is to pick one or more coins and start auto-invest. Binance has 211 coins available for this. In total, I picked 5 coins, with a $1000 budget. My low-risk picks are Bitcoin (BTC) and Cosmos (ATOM). Furthermore, I went for a marginally higher risk with Render (RNDR), KAVA (KAVA), and Injective (INJ). This turned out to be a great choice. These last three coins made my portfolio go green.<\/p>\n
I opted for a bi-weekly DCA strategy with $100 per coin. Entry dates were 10th April and 25th April. You have options to enter daily, weekly, bi-weekly, or monthly. On BTC and ATOM, I lost $6 since 10th April. That’s within reason. With DCA, sometimes you have weeks or months that you find yourself in the red. However, having said that on the other 3 coins, I made $249. On a $1000 investment, that’s a nice overall ROI of 24.9%. Furthermore, until 18th June, there are no trading costs for auto-invest.<\/p>\n
Binance CMC Cryptocurrency Top 10 Equal-Weighted Index<\/p>\n
However, if this is too much work for you, here’s another option. How about the Binance CMC Cryptocurrency Top 10 Equal-Weighted Index? You can choose from the top 10 coins on Binance. And you know what, at the end of each month, they rebalance. <\/p>"
