Ethereum is the second largest cryptocurrency ranked by marketcap. We have a lot of Layer-2 chains but Ethereum is still considered to be the daddy of all these chains who claim to be the best.
I love Ethereum but the only thing that makes me avoid this chain is the high transaction fees. Thats the reason i have moved my assets to other chains. But doing this hurts as still a number of projects consider activity on Ethereum chain before Labelling a wallet as authentic.
Some of the projects who airdropped their token to users have noted the wallets activity on Ethereum mainnet. It was one of the criteria to choose the eligibility of a wallet. If a wallets doesnt have activity on Ethereum mainnet it was labelled as sybil. This is why it is necessary to interact on Ethereum mainnet.
As of now Ethereum transaction fees is very low so it is the best time to perform pending tasks on ethereum mainnet or if you are farming an airdrop make sure that you do have activity on Ethereum mainnet if you still dont have then right now is the best time to do so.
An activity includes transactions or interaction with different smart contracts. You can do so by staking your assets onchain or doing a swap using any dex like uniswap on the Ethereum mainnet. The more the contracts you interact with the more best it would be considered to be an authentic wallet.
Its one of the key advantage of using ethereum mainnet. I have been using Ethereum in the past when the transaction fees used to be dust. I have been doing arbitrage trading in those times which have earned me a huge amount of money. Arbitrage trading was my best way to generate profit on daily basis.
Now a days it is very hard to get an arbitrage trade because Autobots have changed the whole scenario. It is very rare to get an arbitrage opportunity these days ,moreover you will have to be super active in order to get an arbitrage opportunity.
To be honest i have build my crypto portfolio with the help of arbitrage trading. I dont remember each token's name but $RNDR is one of them. I used to buy low from one exchange and sell higher on other one or on the dex.
Arbitrage opportunity also comes with risks as it is not guaranteed to generate profit every time. The price can fall further from your buy price. For example you bought a coin at lower price and moving to second place where the price is higher , the price can drop quickly at the second place further lower from your buy price.
Bottom line is that there are chances of loss as well,profit is not guaranteed when doing arbitrage trading. Do your own research before trying anything new in crypto.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.