On Tuesday in an email, I wrote:
- Friday is a low participation day. You might consider removing stop loss orders on illiquid stocks. It is easy for those of us without a life away from the market to push prices down, trigger stop losses and buy into the cheaper price. This happens more than people remember on “Good” Friday.
- Friday is a “good” day if you are in illiquid stocks to check prices occasionally to see if “Your” favorite illiquid stock is offering a Black Friday sale price. I have picked up some very good prices on Black Friday while everyone is playing or if in Wisconsin – Deer Hunting.
Wow… In spades.
Computers took over and we had a Flash Crash in Equities and Crypto.
The alt-coins listed below, function in the world of Decentralized Finance (DeFi).
NFTs (Non-Fungible Tokens) and The Metaverse also have alt-coins that are also evolving quickly and creating daily (profit) opportunities. We’ll talk about these in a future email.
With limited finds one needs to choose a strategy – target a few types of coins to create wealth assets / trade as best possible / or a take a broad brush, generalist approach to growing asset value. Same as stocks. Invest – Trade – Speculate or Gamble.
Remember, Crypto trades 24/7 so check your favorite Crypto exchange!
- Voyager Digital
- Coinbase
- Kraken
- FTX
Crypto Exchange Rankings by Volume
Personally, I use Coinbase and Voyager Digital. Voyager is Smartphone app only and has limited selection of coins but is very quick & easy to use. Coinbase has a big selection of coins, organized and professional. Between the two exchanges I fill my needs.
If I could only Buy Three Crypto Currencies:
- Ethereum (ETH)
- Avalanche (AVAX)
- Polkadot (DOT)
- Ethereum (ETH) $4,119.01 – is the leading company (alt-coin) in Smart contracts. Smart contracts are used in Decentralized Finance (DeFi) business transactions. Ethereum is speculated to become as valuable or more valuable as an asset than Bitcoin (BTC) in time. Bitcoin provides a valuable function as a store of Value, while Ethereum is the working application software for business. Various analogies have been made comparing Bitcoin and Ethereum. Bitcoin has been compared to oil (or gold) and Ethereum to the petrochemical Industry. While the amount of Bitcoin has been set at twenty-one million coins, Ethereum has started burning (terminating) Ethereum coins on certain uses. This is creating an effect similar to stock buy backs in Equities.
Avalanche (AVAX) $106.24, is a competitor to Ethereum in Smart Contracts that is on a very fast track. Like Ethereum, AVAX “burns” Avalanche coins with certain types of application uses. This drop from $150 area to the $106 area seems to be a gift, IMHO. That is because I owned AVAX from low $30’s to the mid $60 area – sold it to do something else, only for see it more than double from my sale price. Of course, I am speaking from my experience of regret in not holding AVAX as a long-term asset play. I no longer think of Alt-coins as coins or currencies, but as software application companies. Since this is early days, what could these assets trade for in five to ten years. Alternatively, a negative view is perhaps something better, quicker, stronger comes along and makes this particular application obsolete. Always a problem in the equity market as well. At this point in time, AVAX is the smaller in use of smart contracts company to Ethereum but is cheaper faster quicker and is dependable. The negative is that for AVAX be faster quicker and reliable, AVAX does not have the security factor Ethereum has.
Polkadot (DOT) $35.00
Polk a dot is an application for Smart contracts that allows multiple Smart contracts to interact with each other. It seems to me that if Smart Contracts are changing the way business is conducted then tools or applications that enhance the functionality of smart contracts is a valuable asset.
Personally, we had a Friday Flash Crash in the stock market and in crypto. Time will tell if that is the case. Longer-term, technology changes the world. Blockchain/crypto is the fastest growing technology humans have experienced. We have to be involved with it!
Good luck and fortune! Hope this helps with Ideas, Education and New Thoughts.
November 26, 2021, by Tom Linzmeier, Editor, LivingOffTheMarket.com
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