In This Issue
- My latest portfolio updates.
- Rebecca breaks down this week’s trending coins.
- Erik has a report for you on non dollar stablecoins.
- The team from Elrond discusses what they’ve been up to since we last spoke and what they have planned for the future.
- Jesse has a deep dive for you on Flux Blockchain.
For any crypto related questions please comment on the website.
For any support related issues please visit the website.
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Buy, Borrow, Swap & Earn Crypto with Celsius
Lark’s Portfolio
Well, this has been a rather quiet week overall for my crypto portfolio.
My portfolio in general is more active than most, but the reality of investing is that sometimes you just don’t do very much. And that is ok.
Investing is actually kind of boring for the most part. You buy things and then hold them long enough to hopefully see some profits.
Sure, this is crypto and you need to stay on top of things, but you don’t always need to be doing something.
This time of the market is a good time to actually sit down and go over your portfolio and ask if it is still working for you.
Some questions to consider:
- Do I have enough cash?
- Am I diversified enough?
- Are the coins I am hodling still good coins? That is to say, are they meeting goals, gaining users, releasing tech, etc. Or have they been falling off the radar with public communication, missing deadlines, etc?
- Am I making the most use of my coins? Are they staking? Are they lending? Etc. Making solid yields during a down market can be a nice bonus when the next bull market rears its head.
- What assets do I truly want to acquire during the bear market, and can I afford to?
- Is my spending efficient? We all probably have a few things being charged on the credit card that don’t really need to be!
- Am I adequately tax efficient? Is there any way I can become more tax efficient?
- What investing, trading, coding, business, etc. skills can I work on learning during this downtime in the market?
The doing nothing thought process also got me thinking about the 80/20 rule again, also spurred on by a conversation with my accountant last week.
We were reviewing where I made the most money last year, and of course, 80% of my gains came from a small batch of coins. The other 20% came from a much bigger batch of coins.
80% of my losses came from making mistakes in defi, wrapped tokens, and risky purchases.
This year I want to really focus more on what has proven to work for me.
Investing early is key.
My biggest profit makers were coins like Matic and EGLD.
The simple reality was recognizing quality early, and buying it cheap. And of course actually taking profits on these coins.
I was very disciplined with both of these coins continually taking profits as they pumped higher ensuring I got my capital out, and that I was able to book massive profits into stablecoins.
Defi was a real mixed bag for me.
On the one hand I made nice profits in places like Convex Finance, but I handed all those gains back after the UST collapse.
On the other hand, any defi stuff I did with ETH absolutely REKT me. I ended up paying an eye watering sum of taxes higher than I should have simply for using my ETH in defi.
Every time I entered an LP pool counted…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
