Saturday, May 15, 2021

A Beginner's Guide to Investing for Football Coaches - part 2

My portfolio has undergone some drastic changes since I wrote part 1.  I expect for this to be my final piece on this topic, lest I have to start a new blog on investing, which I do not plan to do.  All the financial people add this liability disclaimer to anything they write: This is not financial advice.  Do your own research.  Fool.com is a great resource for stocks but I cannot pinpoint one source for information on cryptocurrency.  All I do is google different topics and cryptos and read articles to learn more.  I still use marketbeat.com to provide my news on my top 5 holdings and it is a valuable resource.

Since part 1, the two parts of my portfolio have went in two different directions.  My crypto portfolio has skyrocketed, while my stock portfolio WAS skyrocketing but has bogged down since then.  Here is my TipRanks ranking from February 10, 2021: 



My stock portfolio, especially my top stocks: Roku (ROKU), Magnite (MGNI), and The Trade Desk (TTD) were absolutely smoking the first part of 2021.  Since then, inflationary concerns and an inevitable cooling off period have significantly impacted tech and growth stocks.  Three months later, my stock portfolio is now down 44% from its all-time high.  I am currently ranked #1,987 on TipRanks.

My crypto has gained significantly, with Ethereum (ETH) being responsible for most of those gains.  I recently sold 80% of my Ethereum holdings and converted those to Cardano (ADA).  This year has seen a huge increase in the people investing in crypto, especially Bitcoin (BTC), which is still the #1 crypto at the time of this article.  Bitcoin is a nice holding but I have been more bullish long-term on blockchain cryptocurrency.

What is blockchain?  Blockchain is the underlying technology that cryptocurrency runs on.  Many experts feel it will be the most disruptive technology since the Internet, as it will transform how data is used in every part of our lives, from banking to education and everything that uses data.  

Here is a look at how my portfolio has changed: 



The crypto holdings are in italics.  You can see that the price of Ethereum has increased from $556.02 to $3,911.30.  That is big-time.  The great thing about cryptocurrency is that it is still early in the game and there is still a lot of room to run for this new blockchain technology.  Cardano went from $.0.14 to $2.26 and it is taking off as people are beginning to recognize what an incredible item it is.  Cardano is also 1.6 million times more energy efficient than Bitcoin.  

You can also stake with Cardano, which means that every 5 days that I receive free Cardano tokens.  This is similar to how stock dividends work.  You need to download a Daedalus wallet for your computer to get started in staking.  You can fool around with Dogecoin and make a few bucks if you are lucky or you can invest in a far superior product that can make bank long-term.  

I still like Ethereum but it has high gas costs, which makes Cardano a better alternative in my opinion.  Polygon runs on the Ethereum network and it allows you to do it with less gas fees and it has went up over 300% in just over a month.

You can't buy Cardano and Polygon on Robinhood and I would not recommend that platform.  There are a number of good platforms to buy from.  I use Coinbase and I highly recommend watching the videos and answering questions to earn free crypto.  You can also get $10 in free crypto from using that link.  Hopefully you found something helpful and some new ideas that you can research further.  I am going full-on nerd and am taking a blockchain course this summer to learn more about Cardano and blockchain.


3 comments:

  1. I heard the founder of Etherium state on a podcast state they weren't sure how they were going to scale in the future

    ReplyDelete
    Replies
    1. The founder of Cardano was one of the original developers of Ethereum and they are taking a slower but more precise approach to adding on new developments. If Cardano gets smart contracts rolling in August, most think that the price will hit $10 by the end of the year.

      Delete
  2. interested in checking out Cardano

    ReplyDelete