official Who wants your money in the crypto world? [Top 5]

[MrD]

You must know the other players and their objectives in every opportunity you want to join and make money. And the crypto world is no different.

There is a well-known saying in poker: "If in the first half of an hour of a poker game you don't know who is the sucker at the table, then you are". That's why today I will tell you the leading players in the crypto world and who wants your money.

Considering that large amounts of money change hands so often and the market is barely controlled, you should keep your eyes open. Otherwise, you will get scammed and lose your hard-earned money.

1. Coin & Token Creators

These people launch cryptocurrencies: blockchains (LTC, ETH, DOT, XPRT) or Tokens (MDT, BAT). They create a website and the project roadmap and distribute tokens in exchange for cash or other currencies. Their main objective is to sell as many as possible of their tokens for as much money. Also, they can coordinate PUMPs and DUMPs.

Besides that, they know when they will announce new features or listings on new exchanges so they can purchase more tokens on the market and sell them after the event at higher prices.

2. Whales

Whales in crypto are persons and entities that own a large portion of a cryptocurrency. In the picture below, you can see on the Elrond blockchain who are the primary holders of EGLD.

The whales are close to the people that develop the project or maybe some of the coin's owners. The point is that they have large quantities of a cryptocurrency and can quite easily coordinate themselves to make the market by selling or buying specific cryptocurrencies. 

Remember that I said they are close to the cryptocurrency owner and developers? This means they may have inside info about the going of a cryptocurrency, so they know when to buy or sell them. At some point, some of the whales may be enemies of crypto-owners when the interests are divergent. 

3. Exchangers & Traders

Exchange companies like Binance, Crypto.com, CoinBase and all other exchangers make money on spreads (the difference between the price of a cryptocurrency and the price they are selling it to you).

Also, they make money by fees on deposits and withdrawals of users' funds. I hope you understand those ads that say that a particular crypto price was going down and up, inviting you to deposit.

Besides, they require cryptocurrencies to pay to get listed on their exchange. For instance, to list a specific cryptocurrency on Binance is $1M+.

4. Institutional buyers and Investment funds

These are banks, significant investment funds, and companies making investments and trades in cryptocurrency. Consider here Elon Musk and Tesla, MicroStrategy and all other investment funds.

These companies usually get in proven cryptos and keep their positions for longer. That's because it's not easy to move large quantities of money from banks to exchangers and because if you sell large amounts of crypto fast, the price drops abruptly. 

5. Influencers

There are several types of influencers. The ones with the most connections in the crypto world and a large follower base got big sponsorships contracts to promote and boost specific cryptocurrencies. 

Other influencers get in early in specific projects and then shout videos to boost these projects on their channels. When the price grows, they start dumping the coins they purchased.

Lastly, some influencers spread rumours and dummy analyses but are not highly invested in the industry. They want to increase their subscribers and make money from advertising.

It's important to follow only influencers that have proven to have correct influencers, didn't promote any pump and dump schemes and don't pump shady projects.

Conclusion

Now you know the leading players in the cryptocurrency market. The main point here is all these people want to make money, and usually, the money is taken from impatient little fellows. 

Source: 

 

[DailyMoneySaving ✔️]

That's really interesting read. Thank you for sharing these details with us.

[MrD]

@DailyMoneySaving glad I could help and thank you for the TGF membership upgrade 😉

[Macjaja64]

Nice 

[Maryann]

This is beautiful, An eye-opening to many upcoming traders and investors combine

[JamesOnFire]

On 8/3/2023 at 9:30 AM, Maryann said:

This is beautiful, An eye-opening to many upcoming traders and investors combine

I agree! Well nailed Admin

[TemmaGiG]

Interesting, thank you!)

[MrD]

On 10/19/2023 at 3:09 PM, TemmaGiG said:

Interesting, thank you!)

Glad you found the article interesting, @TemmaGiG. I hope it helped you clear some light

On 8/2/2023 at 4:24 PM, Macjaja64 said:

Nice 

Thank you, @Macjaja64

On 8/3/2023 at 9:30 AM, Maryann said:

This is beautiful, An eye-opening to many upcoming traders and investors combine

Glad you found it useful, @Maryann

On 8/25/2023 at 3:22 AM, JamesOnFire said:

I agree! Well nailed Admin

Thank you, @JamesOnFire

On 10/19/2023 at 3:09 PM, TemmaGiG said:

Interesting, thank you!)

Thank you for reading it!

[Rahul verma]

Usually, cryptocurrency is stored in crypto wallets, which are physical devices or online software used to store the private keys to your cryptocurrencies securely. Some exchanges provide wallet services, making it easy for you to store directly through the platform.

[Wallace]

I want. That's why I started playing online games at Bitcoin Games Casino. They have Pokies (0%), Progressives (0%), Video Poker (0%), Blackjack (0%), Roulette (0%), Casino Poker (0%), Scratch Cards (0%), Baccarat (0%), Craps (0%), Keno (0%) and much more. Where I can use my crypto. 

[cards.team]

good idea