Bitcoin and Ethereum. I am not sure whether I would feel secure enough to hold any other for a long period of time.
Solana and Ethereum are in my top 5 list. SInce they both are competitors and fastest growing cryptocurrencies, it is going to be interesting to see where they go in future.
If I have to pick, then I would go with-
Bitcoin and Ethereum. Maybe Dogecoin too, at this point, but I am not too sure.
Solana, Cardano, Etherum, Ripple, and Polygon.
I think these are five cryptocurrency for long term
VET and SHIB
Bitcoin or nothing
No need to hold 5 cryptos. Instead:
- Buy ETH
- Use ETH as collateral and borrow UST
- Deposit UST in the Degenbox on Abracadabra and borrow MIM
- Swap MIM for UST
- Repeat step #3 five times and receive ~100% APY
During this entire time, you’ll still own ETH and still benefit from any price appreciation.
Yes, I seriously thought of doing something like this with a £20K loan. Did you participate in such a laddering exercise?
Degens prefer to call this exercise as “looping”.
And yes, I’ do loop, although I lean towards the more conservative side regarding leverage.
There’s still the possibility of a de-peg risk of UST and you get auto-liquidated so doing this with a loan would be very brave.
I read the Alchemix white paper last night. You know - some people watch Netflix movies. I find more enjoyment out of reading white papers. I am a “latent geek”
In my mind I keep going back to the 1970/1980s when such “alchemy” was called “self-amortizing loans” and it involved Forex trading - of sorts. Before the formation of the Euro when each EU country had its own interest rates. I recall the Danish Kroner was of particular interest and the Yen. Others referred to it as carry trade. It may come back if fiat currencies start to unravel fast.
Anyway, I only got as far as a four or possibly five step plan, and I will not do this with borrowed money until I have proved it with funds already in our crypto portfolio. I have set a date of 31Mar2022 to reassess this and that relies on me doing a proof of concept with less than $1K then a pilot which I will probably do with OHM.
On the other hand, I have been pleasantly surprised with my exposure to DeFi gaming that includes the provision of liquidity pairs within the game. That is what made me aware of the reality of NFT tokens at the same time, from which I diversified into another NFT type but this time during its initial release. I bought 4 apartments on Christmas Eve at initial offer price, and there is already a secondary market with initial sold prices appearing to be between 2X and 4X. Encouraging, but I want to see the game released first and understand the rental we can get for the apartment before I prematurely sell. I have now concluded that certain games, and an increasing number of them, do it all. The DEX, the LP, ownership of NFTs that can be either traded or put to work as income generators. Maybe all investment in the future will be like that. The DEX interface is the simplest I have used, and for sure the current UX for all things crypto needs a thorough revamp so most people can use it without having to learn lots of technical stuff that is difficult to understand. It reminds me of the days of internetworking protocol before TCP/IP and UDP became ubiquitous. I see gaming as the “TCP/IP and UDP” moment of the 1990s.