Crypto Investors Wonder if ‘When Lambo’ and ‘When Moon’ Times Are Over for Bitcoin?
The recent plummeting price of BTC in past days has led to an adverse effect on the cryptocurrency markets with analysts joking that the market might have gone for sale after months of “stability.” As the lead crypto, BTC has fallen to new lows to reach under $4,000 since last year. Similarly, altcoins followed suit with much of the market in the red. This elicits little optimism for most crypto investors right not, but others see this as the right opportunity to get a chance at earning some cryptocurrency.
Deals And Giveaways Spread
Apparently, with the Black Friday events filling e-commerce sites and enterprises, the crypto market is also not left behind with giveaway announcements that are sure to attract attention. Nagezeni, for example, is a firm giving away a symbolic Lamborghini as the main prize in a crypto contest. While the leading winner gets a Lamborghini Huracan Coupe, other winners are also in line to win expensive watches and 160.5 ETH tokens distributed among over 1000+ winners.
The announcement from Nagezeni first appeared within various crypto Telegram channels, with the message mostly diffused among crypto enthusiasts. Nagezeni also informs participants that the competition would run for no longer than two weeks- starting from 3rd till the 17th of December. The lucky winner would be determined through the net trading volume that reaches the contest requirements. The Nagezeni contest will be held in the smaller crypto exchange, Coinsuper.
Participating In Nagezeni’s Promo
While getting the chance to win a Lamborghini or some free ETH tokens might seem attractive, it is wise to remember that crypto giveaways are an excellent tool for scammers. Case and point: the recent ETH giveaway orchestrated through fraudulent bots that littered twitter posts with fake comments.
Another major point of concern may stem from the little information about Nagezeni. While it is quite the darkhorse, the company acts with due diligence by being brave enough to start a trading competition that is unlike others. There is also quite a difference with Nagezeni's contest since it takes place on Coinsuper, a much-smaller exchange with a trading volume of $67million. However, the trading volume should not worry any investor as much favorite crypto exchanges such as Poloniex trade small quantities despite their vast valuation. A smaller exchange could also offer the much needed less competition for crypto traders looking for a less full platform.
Trading competitions have for long been valuable tools in effectively promoting the uptake of tokens through different crypto exchanges. Lately, with the market experiencing a free-fall, lotteries such as those Nagezeni saw a decline. The Japanese farm saw this as an opportunity to make trading competitions popular indeed once again. However, before joining such a game, it would be fair to do further research on the terms and conditions of play to determine if it's a safe bet. You may miss out on getting the Lambo, but you could end up winning premium watches and probably a good number of Ethereum tokens.