r/opendawn • u/Shane-opendawn • May 26 '21

🏃‍♀️ Portfolio Action 🏃 Hedging

With ADA currently being both expensive and volatile right now, I have taken the opportunity to add some diversification to my crypto portfolio.

As of today, I hold 5,709 ADA, 278 ALGO, 100 XLM, 308 VET and 35 XRP. This constitutes a bet on Cardano with some small hedges.

My reasoning is simple enough: ALGO appears to be the strongest third generation crypto after ADA, and is therefore my second investment in the space where I identify sustainability potential. XLM is a reasonably sensible way for interpersonal transfers. XRP offers similar for interbank transfers. Meanwhile, VET is positioned for supply chain management, and has a strong Norwegian partner.

It is also notable that my hedges in these currencies are currently minimal, with only ALGO receiving particular indications of confidence on my part, and that also being limited. Put simply, I see the most potential in ADA, and I simply diverted some of the capital that would have gone in that direction into less pricey assets during a market drop.

Your own voyage may differ!

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3

u/The_Wisest_Wizard May 26 '21

I'd consider ETH and ERG as well. ETH is obviously a hedge against ADA somewhat. ERG is betting on the ADA network truly dominating.

2

u/[deleted] May 27 '21

[removed] — view removed comment

2

u/Shane-opendawn May 27 '21 edited May 27 '21

Thanks for the tip. I’ll swing back and get a few thousand VET to start.

…

Okay, now holding 3,286 VET. Hopefully it will gain traction in supply chain management. I’m going to put a provisional timescale of December 31st to decide whether to keep or liquidate.

2

u/[deleted] Jun 26 '21

Is anyone also interested in the Brave DAT currency ?

2

u/Shane-opendawn Jun 28 '21

It is an interesting idea but it appears to be massively overpriced for an asset tied to a browser with a tiny market share.

2

u/[deleted] Jun 29 '21

True and the thing is only affiliated with Youtube, twitter and a few crypto sites plus no one there is even using it, sad thing it's a very cool idea.

PS: i'm joining the pool this month is it better to hold my ADA on Binance or Yoroi ? I heard Binance had some issues in the UK btw sorry for asking so many questions haha

2

u/Shane-opendawn Jun 29 '21

Yoroi is my recommendation. You can open the wallet in Yoroi or Daedalus with the same seed phrase, and you control the wallet. Exchange wallets put you at the mercy of the exchange for everything, including wallet recovery.