Where are you putting your money to hedge against this nasty dose of inflation?

[flashbac]

Just that really. Interested to hear your thoughts.

We have half our savings in Index Funds and ETFs, we also have a few thousand in Crypto (mostly Eth).

Didn't want to put the rest of our money into the above + we live abroad (so can't use ISAs etc). Still thinking of what to do with the money sitting in our bank accounts - the interest is laughable at the moment.

We are planning to buy a house in the next few years so want at least half our savings to be easily accessible and "safe". Following this thread with interest for ideas!

Crypto scares the hell out of me. Lots of youngsters around here are apparently making a killing though!

Crypto also scares me! But from what I can see, the bigger coins are here to stay.

We had a test run before putting more money into it, but essentially during our test run we turned £500 into £3000 within a couple of months. We decided after the test run to not bother with "shit coins" and to only really bother with Bitcoin and Ethereum. I think as long as you time your purchase correctly and don't panic and sell then it will work out OK for the next year at least!

Do you have any investments at all at the moment?

@CaribouCarafe
Where did you start investing with Crypto?
Playing is safe with Vanguard arc the moment but would like to step outside my comfort zone 😁

Bitcoin as a hedge against inflation, I'm planning on keeping it long term. @Alwayscheerful you can use Coinbase. Do your research, don't invest at all time highs and dollar cost average.

Crypto, most of money in stable coins, a small amount for memecoin plays and now building passive income with strong nodes providing me with a monthly income of approx $2k

@Alwayscheerful bought my Crypto through Binance - however my choices were limited due to the country I live in

@Spectre8 any chance you wouldn't mind sharing which stable coins and % breakdown of your investment with regards to stable vs memecoin (am guessing you've invested in dogecoin?)

So much info here that I have no knowledge of. It's like another language that I'm really interested to learn!

So 70% is stable coins such as eth, cro, ada, matic

20% is memecoin such as floki, hokk, and I was in saitama but sold out at its high

10% is in passive income including strong node and french connection finance - all are passive income earning me money whilst doing nothing

my passive income goes back into stable coins

But with crypto how do you decide when to buy? I
am assuming growth is not linear? It's not like buying shares. How do you assess value?

depends on what your buying. If you really believe eth is the next bitcoin you will buy now and hold on for the future.

Some projects have good long term prospects.

With shares your investing into a company and what they are doing, their revenue can go and down. Its similiar to crypto, some projects have things they are doing to build utility and price goes up and down too.

Crypto is more riskier because its decentralised so you have no governance like sec etc.

There are lots of crypto projects building metaverses and gaming - we all know gaming is a huge industry. Other projects like Hokk are looking to mirror banking products e.g. decentralised version of pensions.

Crypto.com just realised debit cards that allow you to pay using crypto much like our debit cards where we pay with fiat. Infact their debit cards give much better rewards than youo get in the fiat version.

There are some tokens that you can stake and give you huge interest rates some as high as 2000% a year.

You have to do your research and read up on the projects, join the social media platofms, ask questions etc.

@Spectre8 thanks for sharing! By stable coins I thought you meant Crypto that was pegged against US Dollar (e.g. Tether) so was wondering how that yields that much profit...

In terms of when to buy, we tend to buy when there's a dip in the market with the hope it will recover.

@CaribouCarafe well yes I suppose your using the literal definition of a stablecoin.

I use stablecoin to differentiate between ones that have better long term value vs the memcoins, poocoins etc. Those projects that are more stable like eth, ada, matic are to me stable coins but present a growth value meaning i'll benefit from a rise in their value over long term whereas alot of other coins are pump n dumps

@crystalize thank you, coinbase has some dreadful online reviews, I presume you have operated your account without any problems?

@Alwayscheerful Coinbase is very simple and good for beginners. Never had any problems.

There are some great Youtube channels for educating yourself about Crypto. Look at Investanswers and Coinbureau. I only started in the Spring and have learned so much!

[quote crystalize]@Alwayscheerful Coinbase is very simple and good for beginners. Never had any problems.

There are some great Youtube channels for educating yourself about Crypto. Look at Investanswers and Coinbureau. I only started in the Spring and have learned so much![/quote]
Thank you 💐

Stablecoins does generally refer to coins that are pegged to the dollar. Avoid tether (USDT) its a shitshow, but there are quite a range of them now including USDC, BUSC, DAI, UST, MIM and a whole load of others.

You can get much higher interest on stables than a bank would offer tho if you are willing to learn a little about Defi.

Safe, solid reliable,

Look at staking USDC or DAI on Avve or Compound Returns are perhaps around 2-5%. Obviously you have dollar exposure and a level of smart contract risk but these are very big protocols running on the Ethereum mainnet , so about as safe as you ever get with crypto.

Risky and Experimental

Check out UST on Anchor Protocol running on the Terra Chain, which aims at a 20% return which you can insure falling below 20% on
unslashed finance , giving you a pretty solid 18%.

If you are putting serious money into defi, you might also want to look at insuring against smart contract risk with something like Nexus Mutual.

_

@Spectre8 Crypto is all about governance, the most amazing part of defi is that you are part of running it.

This is the governance forum for MakerDAO which issues DAI, the closest thing that defi has to a central bank. Sign up for an account, and contribute to the economic discussions, pick up some Maker and vote, or delegate those Maker to someone who you believe represents your beliefs and will vote in manner that you feel will best support the ecosystem.

forum.makerdao.com/

Semiconductor stocks. As long as the shortages exist they can price as they please. I think the demand will just continue to grow as well. I just bought some NVDA.

@MissConductUS

Semiconductor stocks. As long as the shortages exist they can price as they please. I think the demand will just continue to grow as well. I just bought some NVDA.

Can you explain more, including how to buy @MissConductUS

Can you explain more, including how to buy MissConductUS

NVDA is the ticker symbol for Nvidia, a major semiconductor manufacturer in the US. It does appear possible to buy it in the UK:

www.finder.com/uk/buy-nvidia-shares

If you are not already diversified, it might make more sense to buy an exchange traded fund that tracks a semiconductor index. I like XSD, but there are several other big ones.

investorplace.com/2021/10/3-etfs-to-buy-to-play-the-semiconductor-shortage/

ETF's trade like stocks, but I'm not sure how they are offered in the UK.

Is now a good time to buy Bitcoin?

I still think crypto currencies are insanity. This thread doesn't convince me otherwise.

I want to get BTL property but my time has been consumed with other projects ... so I'm just getting poorer instead