We gave you a couple basic ideas in Part 1, including gold and silver, plus some cash, and — since this is a crypto blog, natch — ETH as your gateway crypto.
Now, in Part 2, time to go really in on crypto to round out your potential portfolio for…well, you know.
This reminder: We’re not responsible for your success or failure. That’s all you. This isn’t individual advice. Past performance isn’t indicative of future results. Bet with your head, not over it. We hope, though, that you succeed.
Portfolio Idea #5: Yes, Virginia, there Is a Bitcoin
You need a little BTC to make sure you have the Grandpa of Crypto. Not a ton, but some. This is where you’re assuming the coin will act as a bit of a hedge, and will move with the broader stock market — which it has done, at least a little — but you’re not banking on a 10x overnight.
You’re doing this for ease of mass usage on places like PayPal, for when people start adopting it.
It’s not our favorite right now, but it’s not to be ignored in a crisis.
Portfolio Idea #6: Join a YFI/ETH Pool on Uniswap
We’ve talked about LPs — “Liquidity Pools” — elsewhere on the blog; this makes a ton of sense as the crypto world morphs into the DeFi — “Decentralized Finance” — world.
Our recommendation here is to have some $YFI and put an equal amount of it and $ETH into a Uniswap pool. While the liquidity here is not where it used to be, you really want to be there because the next Uniswap “airdrop” (more on those in a second) will happen and you need to be using your Metamask account in order to get some sweet, free money. Which brings us to the next item:
Portfolio Idea #7: Get Airdrop Fever
Most of these will suck.
In fact, until Uniswap’s massive airdrop — 400 coins into EACH ETH account you used on their platform — we hadn’t ever seen one that was four figures worth of fun.
The rest may eventually be worthless — I’m looking at you, POW Token — or just a couple bucks here or there. But there are some gems if you’re willing to play around a bit.
Sign up for airdrop alerts from other blogs, check this site for some that we see, and — this is a great tip, in our opinion — get over to Telegram and start poking around.
Keep a spreadsheet and check back periodically on the airdrops’ sites to see if you’ve had any luck.
Portfolio Idea #8: Take a Couple Chances
Here’s where you can get creative, but don’t go crazy. For instance, we have a couple hundred bucks — in October 24 prices — worth of Taco coins, and, should a random small need pop up, we can cash that out and not feel incredibly bad about it.
You’ll want to consider having a few of these types of investments; probably not going to set the world on fire and do a 100x tomorrow, but may hold their value okay.
Some to think about:
- FOOD-named coins (again, why?)
- Coins like Compound ($COMP) and Balancer ($BAL)
- And Crypto.com’s CRO — HERE’S AN AFFILIATE LINK: Crypto.com.
Portfolio Idea #9: A USD “Stablecoin”
The best and easiest of these is DAI. Whether it is technically a “stablecoin” could be debated, but the general idea is to peg it to the US Dollar and it doesn’t fluctuate too much above or below that buck.
(Whether the US Dollar will continue ad infinitum to be the global reserve currency is questionable. But…well, that’s a subject for another day. Also, while you’re here, be sure to read our discussion with Carlos Baeza Negroni, who is building a stablecoin pegged to the Chilean Peso.)
You can get some DAI through this CLEARLY MARKED AFFILIATE LINK to Coinbase.
Scouts’ Motto: Be Prepared
Hey, we all hope that things remain semi-normal, but there’s a chance they won’t.
Consider these ideas to get you started as you prepare for the turbulence ahead.