It is important to stay safe when navigating the crypto ecosystem. Looking out for projects like Big Eyes Coin with security verification or Bitcoin with their user-verified reports of safety is crucial, as without them, you could be at risk.
Scams, rug-pulls and other nefarious activity is an unfortunate side effect of an economy that is run anonymously through the Internet with little governance, making it crucial to know how to spot red flags in projects and which projects to turn to instead for a secure investment.
In this article, we will be looking into Big Eyes Coin, Bitcoin, and Algorand, to see what about them makes them likely to be secure and safe investments.
Old But Golden: How Bitcoins Legacy Proves Its Security
As the originator of blockchain technology and cryptocurrency, it is no surprise that Bitcoin has been able to build a reputation as one of the ecosystem’s most secure projects. Having never been directly hacked despite its 13 years of operation, Bitcoin has proven its security time and time again, making it likely to remain this way as a secure option for investors.
Despite using the older and less popular Proof-of-Work validation system, Bitcoin is still going strong, with this more outdated form of validation being a potential reason as to why Bitcoin is so difficult to hack and has remained that way since 2009.
Therefore, for new crypto investors, Bitcoin may be a good choice.
Algorand And Removing Anonymity As Security
One of the biggest fears that early inventors have when getting involved with cryptocurrency is the fact that it is completely anonymous, all the way to the names of developers and project leaders. Bitcoin’s creator, for example, is notorious for having remained anonymous all this time.
Therefore, looking for projects where the developers are named is a great way to confirm the security of a project. Algorand, for example, names its founder as Massachusetts Institute of Technology professor Silvio Micali, whose speciality is in Computer Science. Having a name behind the project, and a name with credibility to boot, makes Algorand a project that investors can trust.
Therefore, Algorand is a project worth researching for those looking for a safe project to get involved in.
Big Eyes Coin Becomes CEX Tier 1 Secured In Latest Update
It was recently revealed that the upcoming meme token project Big Eyes Coin has become Tier 1 security ranked by CEX- meaning that the token will be joining the CEX Exchange soon after the conclusion of its presale.
The project has currently raised nearly $4 Million, with the project’s fourth phase of presale set to be announced soon. The popularity of this project can be put down to many factors, however, it is safe to say that the security found in the project is a major draw for early investors.
New crypto projects like Big Eyes Coin have the potential to make or break early investors: if a project is successful, an early investment could result in major rewards later down the line. However, a poor investment can easily lead to money being lost, either due to the project failing or the project being a scam.
There are multiple signs to look out for when investing in new projects to minimise the risk of being a victim of a scam. One such example is looking for a whitepaper and roadmap, as this proves that the project has been thought out long-term, and is not just an attempt to cash in and pull the rug. This can be found on the Big Eyes Coin webpage and explains in detail the goals for the project going forward.
Another indicator is a security check or audit. These can come from a variety of trusted sources such as CertiK or CEX, and prove that a third party has assessed the project and labelled it as safe for trade. Without an audit of some form, it is impossible to gauge the validity of a project, meaning that Big Eyes Coin is likely to be a safe and secure investment.
Want to learn more? Then check out the links below:
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Leave a Reply