Ter the past, when cryptocurrencies such spil Bitcoin have split ter two, it wasgoed spil if money fell from the sky.
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Take Bitcoin’s August fork, for example. Mathematically speaking, one split te half results te two halves. But instead of adhering to that set of logic, that particular fork resulted te one plus a little reserve. So while the price of Bitcoin hovered around $Two,750, the price of it’s “forked” coin, Bitcoin Metselspecie, traded primarily at $200. Thus, investors who wielded Bitcoin woke up the next day with one Bitcoin Contant for each Bitcoin they possessed, and all the wealthier for it.
Such forks are one way to get cryptocurrency “airdrops,” or evidently free digital coins distributed to users that meet certain criteria. And it’s a phenomenon some cryptocurrency investors have chased te latest months ter the hopes of profits.
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Spil Fundstrat’s Thomas Lee notes, that rente is enough for tokens with upcoming forks to maybe do well. Notably, Lee calls for investors to generally stay out of smaller cryptocurrencies, and stick with giants of the space.
“Tokens with upcoming forks and airdrops have outperformed bitcoin by Four.8% since the peak of altcoins,” wrote Lee te a note Thursday. “We identify six major forks/airdrops te next 90 days, which could support rente te thesis tokens.”
Here are the scheduled forks and airdrops Lee highlighted:
Lee also pointed to the “minor” druppel of United Bitcoin (a Bitcoin fork) on Ethereum, Litecoin, Qtum, and Hshare holders—though he also noted that the “impact is minor.”
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The only rather glaring problem: Forks can be messy and risky. Not all exchanges may choose to support the fresh cryptocurrency. Meantime, exchanges are also permanently changing—with software alterations requiring investors to be wary of updates. Ter mid-February for example, Coinbase enabled SegWit-compatible Bitcoin transactions ter a bid to lower fees. Ter doing so, however, users who accidentally sent Bitcoin Metselspecie to a Bitcoin address would lose their funds.
Spil Lee wrote te a go after up note, “Claiming the forked/airdrop token is not so effortless.”