Being an avid HN reader, I've been loosely following the crypto/NFT market with various sentiments oscillating between disbelief and facepalm.
The real question would be: is there anything that is not a scam in this market?
The real question would be: is there anything that is not a scam in this market?
I personally believe in the large projects, and few niche ones.
My buy and hold coins are BTC, ETH, Monero (XMR), MATIC (ETH L2), and Sol. Monero is the truest "crypto-currency" in my view, and I believe there should be a digital cash equivalent if we're moving to a digital world.
ETH has smart contracts and lots of companies are using ETH L2s like Matic to run smart contracts (Instagram is using Matic for NFTs).
Solana looks like a promising ETH alternative, the risk for Sol is that it's tied up to SBF/Alameda, but their chain is very fast (albeit it goes down too frequently, still in beta though)
Please do not take a stranger's advice and do your own research on projects before investing, and don't invest more than you can afford to lose.
I prefer bear markets for crypto, it acts like a forest fire and clears the grift away.
If you put your money in someone else's bank then they'll loan that money out against your will.
This is a bank. Running a bank is not easy.
The most well known is probably Maker https://makerdao.com/en/
But there's also Aave, Benqi, and a bunch of others.