Wealth Mastery #77
In This Issue
I share my thoughts on how and why it is important to review your portfolio from time to time.
Jesse has a deep dive for you on music crypto Opulous.
Defi Dad has a tutorial for you on a new platform letting you stake LUNA for 9.6%.
Rekt Capital has the latest technical analysis for you on the market.
Sam has a report for you on metaverse NFTs.
Matt talks about defi on Cardano, specifically who some of the big players could be.
The team from Quidd join us to talk about their NFT platform with rights to massive brands like Game of Thrones and the NBA.
Hot new token sales.
Rebecca has all of the latest news for you.
Jesse has a ton of hot new airdrops for you.
Rebecca breaks down this week’s trending coins.
My latest portfolio updates.
A quick reminder that all research and market analysis is provided for educational and informational purposes, and should not be considered as financial advice. You are ultimately responsible for your investments and trades, and they should only ever be entered by those who understand the risks, are willing to lose their entire investment, and properly understand how to manage their risk.
Also, every issue will contain more information, tips, hints, and analysis than you can make use of. Wealth Mastery is a tool, you are the craftsman. We are not a signal or pump group, we are a tool shop, you decide what information shared here has value to you or
Thanks for all the info, Lark.
2 questions:
1. What price would you say it’s OK fro buying RIDE?
3. Regarding your portfolio, What % of your profits would you recommend to destinate for both cashing out and stablecoins?
Thanks again.
1 – Hard to say. Usually the best method is to DCA into a coin. Worth keeping in mind that this is up massively! If you do get in consider staking to earn rewards.
2 – This is something everyone must answer for themselves. For me it depends on if I need more fiat for something, otherwise I tend to keep them sitting in stablecoins.
Hi Lark, only joined last week but already loving these!
I’m wanting to get in on EFI parachain auction and im sure i read somewhere that there was a 30% bonus or something for going through a certain wallet/site, can you remind me please i cant find it anywhere 🙁
Hey, yes indeed, if you contribute via Paralell Finance you get that bonus. https://parallel.fi/
Thanks for the info Lark, some great insight. Did I read in one that there was a bonus on a site for EFI parachain auction? I’ve tried finding it again but can’t see it anywhere, thanks!
Hey, Lark!
I want to get into yield farming immediately but most of these exchanges ( Coinbase PRO, Binance.US) hold my funds for 6-10 days when wanting to transfer to into my wallet. What’s your best way for me to bypass the holding time when buying crypto and send it to my wallet immediately!
Hey Omar, well sadly most of these exchanges do have holding periods when you buy it. Especially if using your card to buy. Doing a bank transfer could solve this problem? You may simply need to accept this and work around it. Sorry.
thanks for the reply!
also, what do you feel about CRO? are you considering adding it to your portfolio anytime soon?
CRO as a company has done some pretty big things. I am not considering adding it to my portfolio.
I did not get the newsletter via email?
Please whitelist larkdavis@thewealthmastery.io which should help the mails come through. If it doesn’t work then email larkdavis@thewealthmastery.io for support
Thanks for the material Mark.
1 question:
How do i buy Solanium? I registered for the Solana wallet but I don’t understand what I have to wait to buy this crypto.
Here is a list of all exchanges where you can buy it https://www.coingecko.com/en/coins/solanium#markets
Sorry I was referring to how I can buy and make gold on Solice!
Ah right, so step one is to whitelist in 12 hours https://www.solanium.io/project/solice
Then you need to buy and stake SLIM tokens to be able to participate in sales. This post here explains the mechanics for the different tiers https://solanium.medium.com/introducing-solanium-tiers-d5b92bfb1778
I think I have followed all the steps. Lark didn’t just understand how to buy and stake with SLIM tokens.
HI Lark,
Merry Christmas to you.
I have some beginner questions here.
Firstly, what does it mean that you have 55% of BTC in Cold Storage, please ?
Secondly, I’m trying to understand DeFi still & all its potential. I watched the whole beginner playlist on DeFi Dad as you recommended and I understand a bit more now. However, I’m very confused with the L1, L2 chains. In the whole DeFi Dad beginner playlist, he demonstrates only transactions and applications on Layer 1 using MetaMask. BUT, but due to the exp gas fees, layer 1 is not as interesting for me and I would like to start with layer 2. How do I start here? Which wallet I can use for L2 and which applications, platforms? I see the example in this report is LUNA, but seems rather complex. I suppose MetaMask is not for L2.. so…. which wallet should I set up ?
Or.. perhaps.. should I start with L1 since I’m completely lost and might be more beginner friendly ?
Thanks in advance for your answers.
Margarita
Hi Margarita, thanks for the message.
1 – I have 55% of my Bitcoin in a Ledger Hardware Wallet. This is the safest storage option.
2 – Regarding using layer twos. Metamask works great. In issue 72 https://thewealthmastery.io/wealth-mastery-72/ Matt explains about Arbitrum which is the biggest layer two right now. You can use popualr apps like Curve Finance and Uniswap on Arbitrum. You can also use other chains via metamask like Avalanche.
LUNA is not a layer two, it is a different layer one. You need the terra station wallet to use it.
Solana is a good layer one chain too, for it use phantom wallet.
Hello again,
Thank you for your answer. I hope you don’t mind if I have some more follow up comment:
1. I’m wondering, why not but all BTC into Celcius, since this is earning nice interest? Is it regarded as risky and hence better not to put there all the BTC ?
2. I read this part on Arbitrum. From this Matt’s contribution I gather that the fees on this network are much cheaper, however there are still quite some fees (45 usd mentioned there as min, plus subsequent “low”gas fees). I’m still trying to wrap my head around how with all these fees + risks, of course, DeFi can ever be profitable.. What would you recommend would be the best way to start in DeFi for an inexperienced user like me? What could be the least deterring first step in terms of fees and complexity ?
(sorry for all these questions, I joined your membership precisely because I’m lost and hope to get some guidance from someone experienced like you)
Margarita
1 – the rates fall for higher amounts making the risk not worth the reward to my mind.
2 – You will probably be best to start off with defi on something like Solana.
Here is a homework assignment.
Download the phantom wallet. https://phantom.app/
Fund it with $50 of Solana.
Go to Mercurial Finance https://mercurial.finance/ and put $10 of Solana into a pool. You will then start earning MER tokens.
Go to https://www.orca.so/ and swap $10 of Solana to USDC. then go to the pools page and add funds to the SOL/USDC farm. https://www.orca.so/pools You will then start eanring ORCA rewards.
Then on https://www.orca.so/ buy $10 or AURY tokens, then go to https://app.aurory.io/staking and stake your coins
This is designed to help you get your feet wet. Do not put more than $50 in your wallet to start. This is just an experiment to start playing around.
Solana is cheap to use so it is a good way to start playing in defi, sadly Ethereum is too expensive these days to play with.
Hi Lark, thanks so much for this. Sounds like a pretty solid strategy to start with. I much appreciate your input. I will follow your suggestions !!
Happy New Year !! Hopefully a profitable one !!!
Margarita
Happy holidays!
Hello Lark,
I just did my homework above as you suggested and I managed – YES !!
After doing all that, I have a follow up question again:
– How can I track my progress nicely? I now see my new assets in my Phantom wallet, so is it here that I can monitor the asset value? I suppose over time, the values in the wallet should increase slightly?
– For how long do you recommend I should leave the assets inside the pools? The reward rate shows as annual, but I understand that 1 year is too long in DeFi. Any general time guideline?
It is also not clear where this MER token / ORCA reward should appear and what I should do with it..
Thank you again for your help and guidance.
Regards,
Margarita
Hi Margarita,
1 You will want to download a portfolio tracker app like FTX or Coingecko
2 Timeline is up to you. Maybe you want more or less of those coins. Maybe you want to move liquidity to another pool. Lots of variables, no hard and fast rules.
3 For Mercurial Finance there is a rewards section, go their to claim rewards. For Orca an option to harvest will come up either in the all pools section, the your liquidity section, or the double dip section.