Investing In Cryptocurrency: Callisto CLO Airdrop Risk

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When it comes to investing in Callisto and really all cryptocurrencies, there are a near infinite number of factors to consider that could influence the market as well as your decision to invest or not. Some people invest on impulse, on gut feel and that doesn’t take any level of expertise or sophistication. Sometimes those people are right and enjoy huge percentage gains, sometimes they are wrong and suffer massive losses. On the other end of the spectrum you have people who have spent years studying markets and developing skills, such as technical analysis. Sometimes these skilled investors are right, sometimes they are wrong. The point is you have a lot of things to consider when making an investment, from the micro to the macro and you have limited time to evaluate and make a decision. So what are some things worth considering?

One item that seems to heavily impact price is the market sentiment created through marketing and promotion. Lets break this down into an easy to understand overview by comparing two airdrops. The case of the Ethereum Classic airdrop of Callisto (CLO) vs the airdrop of Bitcoin Private (BTCP) is an example that did not fully play out yet, but is now underway and worth examining in order to see what happens. By comparing these two coins we can test assumptions we make now against how they actually develop in real time.

One major element of market sentiments comes from marketing and promotion. Investors in this very frothy cryptocurrency marketplace move fast and aggressive. There is a great deal of FOMO (fear of missing out) happening, and the success stories of overnight millionaires is too much for some people to resist. Once hooked by FOMO, people seem to throw their hard earned money at anything and everything. This is when marketing and promotion have an insane impact on attracting investment dollars and cryptocurrency price. The more marketing efforts put into play and the more promotion a team takes for their coin, the more likely it is that their coin will gain major exposure. Once widespread exposure is achieved, the masses have the opportunity to pile in and drive the price up exponentially.

From the Bitcoin Private perspective, marketing and promotion appear to be a priority. Bitcoin Private has a working website, they have a marketing arm, they host events and webinars, they make their whitepaper readily available, they are active on social media outlets such as twitter and generally do a good job of creating awareness about their coin. They also promote these events and marketing efforts. It is clear that the Bitcoin Private team has invested in marketing and exposure, and they want you to know about their coin. This puts Bitcoin Private in a position where the coin could be picked up by media outlets and it is then more likely that investors will come across Bitcoin Private and therefore have an opportunity to consider BTCP for investment. Perhaps most important of all for trade volume and access to investment, Bitcoin Private has made an effort and will be included on many exchanges, and it has support from a growing number of wallets.

Compare this to Callisto ($CLO) and the difference is very obvious. Callisto lacks a website (to learn more about the Callisto CLO airdrop check out this article). Information is sparsely available.  This is in large part due to Callisto’s lack of producing content and lack of community engagement. There is no centralized place for information when information is available. Social media promotion is lacking to non existent, if it wasn’t for curious investors doing almost all the inquiry and promotion, there would likely be near zero talk about Callisto. To sum it up Callisto’s marketing and promotion is weak. This will most likely serve Callisto poorly when it comes to gaining price traction.

What will hurt Callisto even more will be the lack of support on exchanges. Callisto has failed to do something very essential: reach out to exchanges to get them to support the coin. Don’t take my word for it, look at what prominent exchange, Bittrex, had to say about supporting Callisto ($CLO):

“At this time, Bittrex is not supporting the ETC/CLO airdrop. Their development team waited until today to contact us, and it’s too late to complete our rigorous token review process before the snapshot on March 5.”

Bittrex will not support Callisto

Bittrex will not support Callisto

This goes back to one of the key elements I talk about when looking for a profitable airdrop- you have to have access to exchanges which allow the asset to have liquidity. To learn about those elements read my article here and to hear more about airdrop liquidity and volume importance check out this article.

To recap, Bitcoin Private is doing a lot of the right things to gain exposure, provide information and investing in marketing efforts. Callisto (CLO) on the other hand is doing a poor job of executing on a marketing plan, failing to gain exposure for their coin, and perhaps the most fatal, failiing to secure access to trade the coin by getting listed on exchanges. By failing to secure being listed on an exchange, they will hurt trade volume and greatly reduce liquidity which will hurt investor interest and commitment. This is a bad recipe. I expect Bitcoin Private to greatly outperform Callisto, and would not recommend invsting in Ethereum Classic just for the Callisto airdrop. Investing in Ethereum Classic on its own merit deserves its own conversation.

Good luck out there and remember to do your own research! KuCoin has shown to be a good exchange when it comes to honoring airdrops, so no matter what you decide, give KuCoin a look if you feel uncomfortable claiming your own airdropped coins from a hardware wallet like Ledger. Ledger Nano S - The secure hardware wallet

Simon Manka

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Simon Manka

Growth lead at IOS Foundation (Binance: IOST) Cryptocurrency is here to stay.

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