Well, the last of my stablecoin reserves were spent in the last two days.... I figured that with such a huge tumble, it was time to complete the purchase of tokens that I have had my eyes on. Now, I'm sort of hoping that crypto prices don't continue to plunge as I have no more powder left in the kegs to take advantage of it! So, as I had mentioned in a previous post, I had been diligently setting sell orders when either my portfolio or a particular crypto hit targets that I had set many moons ago in the depths of the bear market. So, quite a few of them had triggered over the past year... and it meant that I had snipped off about 5-10% of my crypto holdings to divert mostly into other investments like stocks, superannuation and little treats.
However, I did also hold back some of that in stablecoins to continue to sit in interest bearing products on Binance, FTX and Crypto.com. These were generally redeemable in short order, and so when the time would come to buy back in... or to take long shot bets on something that caught my fancy, I would have the ability to do so. So, in the previous post, I had mentioned that I had essentially reset my triggers for selling... by just buying back the tokens that I had sold at much lower prices. Not everything of course, some things held their prices much better than others... but quite a few things got reset for the next time that they hit the trigger points. It made the sudden 20-25 percent contraction in portfolio worth (as denominated in fiat) feel a good bit less crap!
I did have a little bit left over though... so, I was trying to figure out whether or not to keep it in reserve or to just spend it on the stacking goals that I was trying to achieve in the next few months. After the continued contraction in the last couple of days, I ended up spending the last of the stable-coin reserve.
So, what was in my shopping bags? The two multi-chain tokens, DOT and ATOM... well, I have been collecting these ones for quite some time now, as I do think that their premise of having a constellation of interoperable blockchains is a pretty important concept...
However, the main things that I have been building up have been exchange (CEX) tokens. More specifically, the tokens of FTX (FTT), MXC (MX), Huobi (HT) and Gate.io (GT).
FTX is a growing and important regulated exchange for the Western world, and it offers free on-chain withdrawals which can be pretty damn useful when shuffling around crypto... especially on the Ethereum blockchain! Meanwhile, MXC (MX) has some pretty decent launchpads that are denominated in MX... much like the Binance ones, and almost of similar quality! The recent Genepots (GENE) launchpad was pretty damn impressive... and there are also M-Day sales, and voting airdrops that all make it worthwhile to hold more MX!
Huobi (HT) has also seen some pretty alright launchpads that require the exchange token to take part in and to progress to higher tiers of allocations. It is a big Chinese exchange, and so it would be wise to also have some exposure to that gigantic market!
Meanwhile, Gate.io (GT) does offer quite an endless stream of voting airdrops and cheap startup tokens... but it is mostly poop-coin central. Still, even poop-coins do a bit of a pump every now and then, so it is more than possible to 5-10x your initial allocation... or get pooped on as well.
So those were the primary tokens that were in my shopping bag over this little bloodbath... although it seems severe, keep in mind that we are many multiples ahead of where we were this time last year! Plus, this last day seems to have had a goodly amount of green across the board... so, here's hoping to triggering some of those sell targets again!
I can also be found cross-posting at:
Hive
Steem
Publish0x
Handy Crypto Tools
Ledger Nano S/X: Keep your crypto safe and offline with the leading hardware wallet provider. Not your keys, not your crypto!
Binance: My first choice of centralised exchange, featuring a wide variety of crypto and savings products.
Kucoin: My second choice in exchanges, many tokens listed here that you can't get on Binance!
FTX: Regulated US-based exchange with some pretty interesting and useful discounts on trading and withdrawal fees for FTT holders. Decent fiat on-ramp as well!
MXC: Listings of lots of interesting tokens that are usually only available on DEXs. Avoid high gas prices!
Huobi: One of the largest exchanges in the world, some very interesting listings and early access sales through Primelist.
Gate.io: If you are after some of the weirdest and strangest tokens, this is one of the easiest off-chain places to get them!
Coinbase: If you need a regulated and safe environment to trade, this is the first exchange for most newcomers!
Crypto.com: Mixed feelings, but they have the BEST looking VISA debit card in existence! Seriously, it is beautiful!
CoinList: Access to early investor and crowdsale of vetted and reserached projects.
Cointracking: Automated or manual tracking of crypto for accounting and taxation reports.
Stoic: A USD maximisation bot trading on Binance using long-term long strategies, powered by the AI/human system of Cindicator.
StakeDAO: Decentralised pooled staking of PoS assets.
Poloniex: One of the older regulated exchanges that has come into new ownership. I used to use it quite a lot, but have since stopped.
Bitfinex: Ahhh... another oldie, but a goodie exchange. Most noted for the close affiliation with USDT and the Basic "no-KYC" tier!
