#空投防骗手册

Due to the differences in characteristics, market acceptance, and technical stability of various cryptocurrencies, there are different degrees of risk. Below is an analysis of the risks associated with some common cryptocurrencies:

Bitcoin (BTC)

- Price volatility risk: As the representative of digital currency, Bitcoin's price is highly volatile, influenced by market supply and demand, investor sentiment, macroeconomic policies, and other factors, which may lead to significant fluctuations in a short period, bringing huge asset volatility risk to investors.

- Regulatory risk: Countries have varying attitudes towards Bitcoin regulation; some adopt a cautious stance or even implement strict regulatory measures, which may restrict Bitcoin's trading and usage and affect its market value.

Ethereum (ETH)

- Technology upgrade risk: Ethereum continuously undergoes technological upgrades to improve performance and scalability, such as transitioning from a proof-of-work (PoW) mechanism to a proof-of-stake (PoS) mechanism. However, issues such as vulnerabilities and consensus disagreements may arise during the upgrade process, leading to network failures or hard forks, affecting Ethereum's stability and value.

- Competitive risk: With the development of blockchain technology, numerous public chain projects have emerged, competing with Ethereum in areas such as smart contracts and decentralized application (DApp) development. If Ethereum cannot maintain technological leadership and innovation, it may lose market share, resulting in a decrease in value.

Tether (USDT)

- Credit risk: USDT is a stablecoin that claims to be pegged to the US dollar on a 1:1 basis, but the transparency of Tether's reserves has always been questioned. If Tether cannot maintain sufficient US dollar reserves or faces financial issues, it will lose its credit support, leading to a price crash.

- Regulatory risk: Since USDT is widely used as a medium of exchange in cryptocurrency trading, its trading scale is massive and regulatory challenges are significant. It is prone to being used for money laundering and illegal transactions, thus facing stringent regulatory scrutiny. Once regulatory authorities identify any violations, trading may be banned or subjected to severe penalties.

Dogecoin (DOGE)

- Lack of practical application value: Dogecoin was initially created as a joke coin, with relatively few technological innovations and practical application scenarios, primarily relying on market speculation and community enthusiasm to maintain its price.