A friend exclaimed, "ETH dropped to 1U?!" When I looked at the screenshot... Help!
Family, who understands this?! Today I posted on social media that $ETH broke through 3600🔝, and then a friend who doesn't play in the crypto space urgently asked me:
"It's over! I was convinced a few years ago to buy an ETH, it was several thousand at that time! Why does it show only 1U now??? Did it go to zero? What went wrong? 😭"
I thought it couldn't be true, ETH is very stable! I quickly asked him to send me the screenshot... The result... 🤦♀️
I said: "Honey... take a closer look... is what you bought... really `ETH`? 😅"
Friend: "Huh? Doesn't it say `ETH` on it? E-T-H!"
I: (speechless) "Dear... in the blockchain world, there is something called ‘forked coins’ or ‘similarly named altcoins’... what you have in your wallet is most likely a ‘fake ETH’ that was ‘forked’ from some unknown small chain or is just an air project... true ETH displays as `ETH` in mainstream exchanges and wallets, yours probably has some code or small text afterwards... 🧐"
Friend: "... so I bought loneliness with my real money? This thing really is only worth 1U now? 💸"
"I'm afraid so... the `ETH` that is worth 3600 dollars has nothing to do with yours except for the name... 😂"
A painful lesson for newcomers:
1️⃣ When buying coins, make sure to recognize the genuine ones! Mainstream coins like `ETH`, `BTC` should only be traded on reliable major exchanges (no names mentioned, those who know, know).
2️⃣ Be wary of the “same name trap”! When you see names like `ETH`, `BTC`, be sure! Be sure! To clearly check its contract address or the blockchain network it’s on. Forked coins/altcoins love to ride on names!
3️⃣ Don't invest if you don't understand! My friend rushed in after hearing someone say, “buy ETH to get rich,” without even figuring out what it was, where to buy it, or how to store it... what a waste of tuition!
Finally: my friend has fainted crying in the bathroom... and I can only share this experience with tears to remind everyone! The crypto space is very deep, be cautious when entering! Especially with names, check carefully! 👀
