I recently learned about a project called Xinkangjia, which specializes in scamming the elderly. It's the kind of pyramid scheme that preys on seniors who don’t know how to use smartphones. There are numerous loopholes, yet many elderly people firmly believe they can become rich 100%... with an annual return as high as 600%. There are also teachers guiding them, and classes being held... The withdrawal process takes 5 days, and to withdraw everything takes a month... This project absurdly claims to use big data, with professional teachers managing foreign exchange, crude oil, and gold trading, and it cooperates with the DGCX exchange, claiming to be legal and compliant in China. 1. No exchanges are allowed to exist in China! 2. The DGCX official statement says they have never cooperated with any Chinese company. 3. The DGCX does not have an Android client. 4. They claim the teachers help make money in foreign exchange, crude oil, and gold, but in reality, it's just cryptocurrency trading... 5. Data is fabricated; if Bitcoin rises by 100 points, they claim to earn $11, and if Bitcoin rises by 0.02 points, they also claim to earn $11... 6. Multiple official Chinese departments have named Xinkangjia as potentially involved in pyramid scheme funding.
Concern for the elderly, please do not be deceived!
Thank you Binance for the $10, although I lost down to only $2 during the process, I was able to execute trades. With a small amount of capital, it's important to have a good mindset in order to trade well; with a large amount of capital, the mindset really doesn't hold up.
The current trend is a 5-minute consolidation and selling, and a sharp decline is imminent. However, there may be another surge after this consolidation, please short with low leverage.
$VOXEL 1. Low market cap coins that surge are not recommended for trading, as they are usually strongly controlled by market makers. 2. Don't short just because of a surge; learn to observe the trend, analyze calmly. If a coin continues to reach new highs after a surge and the funding rate remains very high and negative, like -2%, definitely do not short it. Similarly, don't go long just because of a drop; if a coin keeps hitting new lows after a drop and the funding rate is very high and positive, like 2%, don't go long. 3. If you want stability, stick to the top ten mainstream coins by market cap, as these are generally harder to manipulate. If you insist on making quick money, you can consider low leverage of 1-3 times on altcoins or independent positions, but be cautious!!! Altcoins can be very volatile and easily lead to losses.
$VOXEL has started to shrink and rise, the trend is about to change. If the funding rate decreases or turns positive, there will be a sharp drop. Currently still bullish.