I always look forward to your replies Mondeo! Haha. They’re always very helpful and I hope you don’t get tired of me cause I get stupid sometimes.
Tbh, the only things I have now are crypto, small saving in the bank, and just the money I have in my forex trading account. And the crypto I’ve had, I’ve only been holding. I’ve been trying to diversity but I just get too overwhelmed and easily distracted by the latest big opportunities. I want to take on the same approach and split my crypto into trading and holding, but I’m not sure I have enough crypto to trade tbh. But, I’ll try to buy some more so I can also try this out!
That’s understandable. And that’s what I’ve been trying to do. But there are just so many that pop up! It seems to me that there are new popular projects almost every week or every other week!
I will never get tired of someone who writes delightful posts. If the world were full of @ria_rose personalities it would be a far better place indeed.
I have had the same problem as you recently. I am now spending (I hate to admit it) up to 6 hours per day absorbing all things crypto, and now all things liquidity pair and GameFi. When I feel guilty for spending so much time learning about new subjects, I always remember applying for membership to PMI in the US. The forms asked for “experience”. I had a total of 28,000 hours of project management experience. That really made me think “no wonder I don’t have any problems managing projects”
I look forward to the day I can say that about trading, though if you can be profitable without trading the 28 pairs, it’s more than enough. Now when people ask me what I do I say I trade currencies for profit. When they ask me which ones, I say “all 10,000 of them”. The conversation normally stops at that point. LOL.
Sorry - forgot to say. To reduce the scope of what I watch out for I have decided, for NFT and LP investments, to stick only to the Harmony (ONE) ecosystem. I don’t do well contemplating investing in many widgets where currency has to flow on a dedicated network. The ERC20 and ERC721 tokens are bad enough to get your head around without having to contemplate even more. Pretty soon, all the internetworking protocols will be establish and extracted to a level that does not have to involve active management from the participants. But for now, dealing with crypto is a bit like having to navigate a command line interface like MS DOS before Windows 3.1 arrived. Sorry - that was likely before you were born.
Awww. That means so much, especially coming from someone I really admire and look up to!
6 hours is definitely a lot, but with something as new and innovative as the crypto market, it’s very reasonable. Perhaps, I should spend that much time also to focus on popular projects instead of getting easily distracted by new ones I see online.
HAHAH Probably a mix of confusion, surprise and amazement!
I don’t really have a good grasp of the Harmony ecosystem right now since I’m basically all over the place so maybe I could start exploring that more. At least, I have a starting point now so that’s already a good sign for me. AND I also looked up the release of Windows 3.1 and it was indeed before I was born!
Oh yeah! Got it. I initially thought you were talking about newer ones that are on the rise. But thanks for clarifying that mlawson. I feel like BTC and ETH are always safe and good choices. Haha.
There are lots but there are a few things you can do to cut down the number quite quickly. Are the devs doxxed? Are they visible in the community and engaging with it. What is in the white paper, do the tokenomics add up and crucially can you make sense of them. If you can’t maybe don’t touch it as you want to understand what you’re investing in.
You could perhaps play it safer by sticking with the established two and also what I will call the “blue chip” tokens. By that I refer to the coins that represent the various networks so ADA, DOT, SOL, AVAX. FTM etc.
Oooh. Thanks for that Cash! I recently got some SOL at the recommendation of a friend and I was worried I made the wrong decision. So, I’m happy to see that on your list. Haha. I didn’t know you were also trading crypto!
No problem! I am sure some of the new meme coins will be pretty successful, but I confess that most of the time I cannot really try and figure out which ones those would be, so I avoid it altogether and stick to what I know.
Go with what you know and what makes sense. If you’re into video games, crypto gaming/NFTs, computers - service type/utility and infrastructure coins, finances or you’re good with numbers - DeFI.
There’s something for everybody. If you don’t know, pick something sounds interesting and start learning!
BTC is the old staple, so maybe learn more about that. If your funds are low, I’d probably stay away from ETH and ERC20 tokens. The fees will just eat into your capital. Go to a competing chain. Or if you’re really set on the Ethereum network, start learning about services like ImmutableX and Arbitrum and other Layer 2 protocols and services built on top of Ethereum that will help with fee reduction.
Hahah! Understandable and I really can’t blame you. I’ve heard lots of horror stories from friends about new coins that showed so much potential, and then ended up crashing. But with the recent developments in the Metaverse and all that, I’m really just hoping to expand my portfolio.
Thanks for the tip Jungle! I already have most of these coins, apart from DOT and FTM. Because of your recommendation, I’ll read up on them and see if I’d also want to buy some!
I would like to suggest you trade the Most Stable Cryptocurrency available in the market, which is (Tether) USDT.
Unlike the highly volatile cryptocurrencies like Bitcoin, stablecoins like (Tether) USDT are grounded in reality and have all the benefits of cryptocurrency without its distressing price fluctuations.
Launched in 2014, Tether (USDT) was one of the first cryptocurrencies pegged to the US dollar. With a market cap of over $68 billion and a value of $1, Tether was among the top 10 most traded cryptocurrencies in 2021. You can also buy Tether with crypto or fiat currencies.
It depend on investors, which they choose and with the passage of time they know which is best. But i think Bitcoin and Ethereum are best for profit in short time.
They’re always very helpful and I hope you don’t get tired of me cause I get stupid sometimes. 
I’ve been trying to diversity but I just get too overwhelmed and easily distracted by the latest big opportunities. I want to take on the same approach and split my crypto into trading and holding, but I’m not sure I have enough crypto to trade tbh. 
That means so much, especially coming from someone I really admire and look up to!
Probably a mix of confusion, surprise and amazement!