₦airaland Forum

Ibime:
Baba Jedisco, are you still in SHIB?

Yeah.... Took 25% off at 0.79 and a significant chunk at 0.85..... might close the rest soon and bid the 4hrly or daily support

Thanks to coindix, very recently got to know that aave has deployed on avax... Had to start making some passive income... Good thing with other chains like avax are that fees are much lower...

The rates might not seem like much in a rapidly moving market like crypt0 but I've seen that it's surprising how much one can earn on coyns one would have otherwise held..

Staking also helps prevent one from making kneejerk reactions which usually come back to bite in the long-term...

Recently, I came across coindix(dot)com and I'm really loving it as far as all things defi goes...

Its a one stop for most things defi... One can easily see what lending protocols operate on different smartchains or even search for specific assets...

I used to use stakingrewards(dot)com and defillama(dot)com which are still good comparison sites but this has been better....

Shibs run has been crazy... I'd be taking a huge chunk off at 0.85

For now, my focus on coins I hold is split into two
1. To earn passive income on them by by staking some portion
2. To increase the absolute numbers of the coyn I hold... Not so bothered about the dollar value now.... So what I do is target local tops to sell and buy back lower so as to increase my stash...

If things go according to plan and we have another rally, in the next 3- 6 months, I'd switch my pattern towards taking profits off rallies/closing my positions and putting them into other things outside Crypt0 or staking stables for rewards...
Simply put, that's my trading plan for the next 6 months - 1 year

Of recent, one has done well while keeping off the news... I like such coyns

Been flexing this since 0.1... added at 0.16 and recently at 0.25...

One has it's own blockchain which is heading in the right direction. As stated above, I group it among the possible blue chips... The issue with them is that some if you catch the right ones, you go smiling... And it can be difficult to say which will do well as it's not just due to technicals but also how their products pan out... Some of the others I thought will do well e.g ICP have been quite disappointing.


I'm almost done selecting coyns I want to hold for the entirety of this run.... My trading pattern now is to find possible inflection points where I can sell and compound my stash in a given coyn. For example with one, I increased my portfolio size by 25% by selling some  at 0.15 and buying back at 0.1

ThisisIkemefuna:
Jedisco please your thoughts on psg coin at the moment. I read you talking about it being at a good buy $21

Do you still have the same sentiment?

I'm still not in yet as I'm looking to cycle some profits from shib into it...

20 isn't a bad buy... 18 would be a nicer one...

Two reasons why I'm stalling...
1. I want it to print a green weekly candle first...
2. Bitc0in is currently at the daily support... If this does not hold, it should tumble over to the weekly support which would see a dip market wide...

All said, such coyns can move quickly and sometimes, it pumps qhen bitc0in is dipping... In the grand scheme... Its at a good buying level

Shib with a good bounce of the 4hr support... Now looking to attack 0.45 again..

Me thinks the second leg of this rally is still in play with this selloff accting as a retest of previous breakout on the 4hrly

Ftt moves with sol... With coyns that move together, I prefer to trade the leader...which in this case os sol... If I'm looking for further exposure or miss the leader, I look for an entry on the other...

Bitc0in and eith weekly closes give me different vibes... Hence just taking the market by the groove


On bitc0in, it had a nasty wick to the upside but still managed to close above 60k... Such wicks into support are 50:50. usually play out in two ways... either a short term pullback if 60k doesn't hold as before... Or the opposite if 60k refuses to budge... I'm being conservative here given that bitc0in has rallied from 40k to 60 in abt a month...
On a pullback, I'd target the daily and weekly supports currently at 59 and 50k respectively


Eith gives a clearer picture as I stated above... The cup and handle has completed with a confirmed breakout above 4k... A retest is a good buy spot...

Icecream4U:
My people. I want to start my crypt0 journey. Please, how do I go about it?

I plan to buy each of these coins with $1k each

Betc
Dodge
Eth
Shib
Ftm
Bnb

I'm using binance. How do I fund my account?

From my research, I have to use p2p to buy usdt then use it to buy the coin via spot or so. I'm I on the right track?

If I no longer want the coin, do I convert them back to usdt on same spot?

I usually wouldn't comment on how folks split their portfolio.... But to me, this is one of the more sensible splits I've seen in a while... certainly from someone new...

Certain things I'd note
1. Doge nd shib fall into meme coyns. No harm getting both but I'd see them as one part of my portfolio... Shib has a lower market cap, less bag holders and could rally more. Doge may not give as much gains as last time but is yet to move... It's been stuck between 0.2 and 0.25 for something which to me is a sensible place to buy and target a 2-3x at least.

2. Ftm just like dot, one, sol and some others fall into a group of coins that have their own ecosystem. They could easily be the blue chips of this run.

3. Both shib and ftm have been on a recent uptick.. you might want to consider that when making a purchase

4. Bnb- exchange token which also has a vibrant ecosystem it backs... Bnb is like a hybrid between a regular exchange token like cro and and smartchain token like ftm... Bnb has a whole ecosystem built on it... On a rally, exchanges will usually pump their token... Good choice

5. Betece and eith.... There might be a pullback on these but in the grand scheme, current prices are not bad...

6. Might be worth having a space for one other major...like ada, xrp or maybe dot. To me, Ada is the most proven and usually alternates its rallies with eith... An alternative option would be to hold bitc0in for the time being abd swap into one of them after bitc0in has gone on a rally...say in the next 2-3 months...


Finally, it's always worth buying in bits...called cost averaging usually over a while when going into a market... That works well in accumulation phases. In current conditions, the market looks to have chosen its direction and it's more about getting the right spots.... To me, bitc0in might give one more dip (perhaps over the next 2-4weeks) before exiting this range. If that happens, current prices would look cheap in coming months.

A mistake of a governor

On coins I'm looking at,
Im mostly in position already and buying on a day when betece is at ATH is usually not the best but from what I hold, these are the macro moves I'm looking at happening soon

1. Eith... On the weekly, it's breaking out of a massive cup and handle pattern whose neckline is at 4k... A weekly close abv 4k confims the breakout... A retest would be a gift

2. Sol... Looking at number 4 above, it looks ready to be go on its second rally.... This should at least make it see 300

3. Doge... The hype around it has died down... Me thinks its getting ready for a move...

4. Dot.... Looks to have been consolidating for weeks... Heard theres some upcoming event for it... Me thinks its ready for price discovery...

5. One.... Has looked good for a while.

Generally, I'd say the digns were there for a while... For macro traders, a large section of ones portfolio should have been allocated by now

plat0:
She has moved on but I will tell her to send a mail to the consumer protection department of CBN.

Do let us know if she does make some headway...

Another thing as was mentioned is that she could lay her complaint on their social media handle.. not ideal, but that forces most companies to save face and act

plat0:
She did not effect any transaction but 400k was removed from her account.

Hmm... This leaves me scratching my head...

Thru what means if I may ask?
Are you sure someone didn't snoop her login details and make a transfer?

She should raise a complaint with the consumer protection department of CBN.... They'd be forced to act.

davit:
Of course. Mails, chats not responded to. Calls took days before I was able to speak with them. They kept promising they would get back to me. For 2 weeks, I had to give up.

Scanned thru the review section on Google play and yes there are a number of complaints....

This is something they should improve on if they want to stand the test of time...
You could give your feedback on the app store....

plat0:
There has been numerous complain about their customer service/support. A friend lost 400k, when she called to complain, the rep said there was nothing they could do about it, if it was a traditional bank, she could have easily walked in to resolve the issue.

That's a aad one... How did he lose 400k?

Thats my issue with most mobile banks... For the most part they're straightforward but when you have issues, it could take sometime to get help...

They should optimise their customer care or eorse still, introduce a subscription service where folks can get same day response when needed.

davit:
Their customer service is the worst in the country. Just pray you don't have any issue with them. They won't be available for your complaint

Thats odd... That's where most of them struggle at... As they don't have regular staff, they should stock up on customer care agents....


Did u have a bad experience?

P.S.... the coyn I was expecting a 10x from was shib.... Its already given me a 3-4x

Bitc0ins macro rally..... 11 lessons learnt so far...and 5 bonus points

What we've learned so far....

1. Since bitc0in exited 20k, when there's a flash selloff, the coin usually goes to retest the bounce area and dips below... Remember 40k to 30k selloff same with 60k to 43k (2x), 50k to 30k and lastly 53k to 42k...

2. Litec0in... When this laggard pumps, take profits... enough said... For this reason, I still own 3 ltc... So that whenever I sell any after a pump, I take profits across board... Still looking out for another accurate marker.

3. It's human nature to take profits around whole numbers mostly following the usual crypto moves.... During such stages of a bull run, after proper consolidation, a coin that breaksout from 4 will likely hit 15-20... A breakout 20 will likely distribute at 50- 60... After 60, next is 100, 120, 150, 180 -200... These patterns are obvious across board..
Bonus- Always be aware of fakeouts above such levels only to nuke back in

4... This is a tricky one but some coyns have it in them to do a 4-5x after a breakout... This is obviously very dependent on the market cap and where the initial breakout was from... So don't expect a final aspect of a pump to do 5x.. Examples of this is obvious... Ada went from 0.3 to 1.5... Doge did a 5x two times the last rally, Bnb did a 5x from 50 to 300... Dot, uni, sushi all did same in a single run... Usually such huge moves are easily followed by a 1.5-2x in the coming weeks.. Take a look again at such coins.
It's tricky catching some of these... But when you catch them and take profits properly e.g sol of recent, they can make your bullrun.
There's a meme coyn I'm targeting for a potential 10x if an alyt season ensues... Still early days...

5. Cash is king... Irrespective of the rally, you can expect a bitc0in selloff monthly. Maximum interval of 2 months... usually in the pattern described above.. One often overlooked way of boosting ones portfolio is by catching selloffs...   Trending coyns would usually bounce off their daily or weekly ema... I'd generally have bids resting around this area at the early stages...

6. Exchange tokens.... Exchanges have a way of pumping their coyns.....e.g FTT, BNB, CRO... Likely, this is to attract new folks.... When I allocate my portfolio, I always have one or two at base layer...

7.. After a big win (or loss), take a break.... Many oldies have experienced this... You hit big, get over confident and lose a good chunk to the market... How I do it is simple.... After a big hit on a random alyt, I lock in profits either by converting some into bitc0in or mostly into stables and lock-stake them even if its for 2 weeks until the hype has relaxed.

8... Betece and eith rule this market... No need fighting, use it to your benefit... In most alyt seasons, eith shows the start and end of the rally.... Usually, market movers start in bitc0in... After it's rallied a while, they take profits heavily into eith causing a rally too.... After this, alyt season begins and profits cycle thru coins while eith mainly stalls.... These alyt profits are finally deposited into eith which now goes on its final rally before the whole market nukes..... I'm not saying to wait for eith to rally before taking profits, but whenever it happens, I'd be asking myself questions.... That said, on this, things might pan out different.
Bonus point: when eith goes on a sustained rally, it usually holds and bounces off the 4hr ema until it tops out and looses it..... I use this area to compound if needed.

9. The market is ALWAYS wrong at the extremes... No matter how many times it happens, the crowd will ALWAYS be bullish at the top and bearish at the bottom... Nuff siad

10... A streamlined and planned portfolio will always outperform a random portfolio... I've written on this before.... Plan early and allocate your portfolio sensibly... Dont use money for eith to buy shib ....

11... Dont get attached to any alyt... It's only bitc0in and eith I might consider that for... In an alyt season, all coins will pop...but some will pop much better than others...  Use one or two majors as your benchmark... If a coyn is not holding important levels, cut it early... This is obviously different from jumping from top to top...


First bonus.... Don't sleep on charts, you're much more likely to make mistakes and buy the top when you do that.... Outline macro levels,  set alerts, take a breather and enjoy crypt0...

Second  bonus... A second rally is usually stepper and quicker.... It's usually over before most expect...If another rally ensues, my aim would be to have 85% of my portfolio out before the top..... Plan for it early cos as April showed us, if you're caught offside at the top of a bullrun, u no go like am...... don't go blaming China

Third bonus... Bitc0ins last macro bull run was from about 1.5k breakout to 20k.... This rally is likely to give lower absolute returns as it'd take considerably more to move the market. Always remember the breakout point was 20 and that humans will always take profits around certain numbers.

Fourth bonus... Most people would invariably end up holding a coyn for more that 3 months... If you're not earning passive profits by staking your coyn, you're missing the next big thing in crypt0. Staking also prevents one from making irrational decisions in the heat of the moment... A good chunk of my long hold coyns for this rally have been staked already.

5th and most important one... Nothing goes up forever... Outline early where and when to take profits and lock them in... Look at the big picture so you don't take profits too early but also don't be the 'long-term' investor that only turn up when the market is at the top... It's difficult to time when any market would top but hopefully by February '22, I'd be well locked into profits.... One thing the crypt0 market is good at is wiping off profits that have not been taken off

I said I was going to share lessons learnt so far more so from the last rally when the coin break ATH....
I composed this a while ago to share when the coyn breaks ATH
Here it is...

Abdul4trust1:
google playstore

Keep arguing.... Put in ur seed phrase and watch ur wallet go empty....

Dod you bother to see the rating and read the reviews of the app you downloaded?

abeladepoju:
The way I see the market is this- those who control the market and profit think and act differently from those who do the opposite.... There are people who buy bottoms and sell tops nd those who do the opposite.

One thing I usually do when I get a macro move wrong is to review the thoughts of those who got it right and replan before that move is over

What I'm tryna say is this.... The folks who sold at 60k in Feb-Mar and bought back at 30k in July will likely be the ones to take profits close to the top of this macro market cycle when everyone becomes bullish.

In summary... If you didn't take profits earlier this year or buy the dip in June/July, you might want to review your overall trading pattern going forward. To me, the purpose of trading is catching majority of such moves.



Good boss. Kindly help to address this questions
1. Suppose I have 2usdt in Trust wallet, can I use that to buy BNB on same wallet.
2.I have 3usdt on Hotbi, and I have converted to nusd so that I can buy shit coin- hvi but to no avail. Below is the error message I received. Please how do I go about this.Thsnks

You may if your usdt is on the binance smart chain. I don't know what the lower limits are on dapp exchanges.. personally, I think 2 usd is low to venture into this market... Most exchanges have a lower limit you can buy. For binaz, its 10

The error msg u got is clear. You have to buy in multiples of that sum. Leeme ask, why are u buying sanshu?... Is it cos lots of people are talking about ut or cos it's pumped recently or any other reason?

Another example of an 'internet company' is Kuda which is our mobile only challenger bank...

Their rate of growth has been impressive. From given figures, they've grown from 300,000 to 1.5 million users in under a year. I've had a play around with their app. Although very smooth, it's features are still limited. But then, I can see why they've grown in leaps and bounds. They make banking easy.

Their killer feature is the 25 monthly free transfer they offer. It might not sound like much but I can see why the average/young Nigerian will troop into it. Obviously unlike regular banks, they're able to afford this cos their overhead costs are minimal.

Their room for growth is huge... If the NSE was going to evolve and make trading stocks easier, Kuda would be primely placed to bring such to the youth.

Recently, they were able to raise significant funding based on a valuation of $500 million which puts them high on the list. As they're not publicly traded, some of their numbers are not out in the open but fact is they're an exciting project and the bank with the best potential for growth.

Personally, I don't have stocks on NSE due to the market performing poorly for over a decade, but if Kuda was publicly listed, it'd be a stock I'd like to hold

OgogoroFreak:
Are you the one on your profile?

I go like fvck you. #100k

DM

This is disrespectful... Can you apologize and take down that post... In a civilised society we all talk of, a statement like that traced to you might very well be the end of your career.

There is this woman hating culture growing on nairaland which is quite unfortunate. Like I've said multiple times, Nigeria gives you about the most privilege as a man. As a Nigerian man, your best deal likely lies with a Nigerian lady...
It's the poverty in the society that gives us the room to debase our ladies. This destructive culture is similar to what you get in African American socities...we can see where that has led them.
Fact is, if you think Nigerian ladies are not intelligent, its simply because Nigerian men are less intelligent than their female counterparts... We are all part of thesame genetic pool.

We should learn to treat everyone with respect.

The way I see the market is this- those who control the market and profit think and act differently from those who do the opposite.... There are people who buy bottoms and sell tops nd those who do the opposite.

One thing I usually do when I get a macro move wrong is to review the thoughts of those who got it right and replan before that move is over

What I'm tryna say is this.... The folks who sold at 60k in Feb-Mar and bought back at 30k in July will likely be the ones to take profits close to the top of this macro market cycle when everyone becomes bullish.

In summary... If you didn't take profits earlier this year or buy the dip in June/July, you might want to review your overall trading pattern going forward. To me, the purpose of trading is catching majority of such moves.

Another thing folks fail to understand is that just by reason of operational overhead, it's much easier for internet based companies to convert a larger proportion of their revenue into profit.

Take Nairaland for instance, while tgere are no official figures, I'd argue that NL is more profitable than any Nigerian newspaper. Seun leverages on those newspapers to get news hence he does not need a reporter or associated logistics. NL has more daily visits than newspapers sold, NL can deliver dynamic ads as you navigate the site. Millions around the world can easily access it. Yet, theres no official operational office. I doubt if the folls on Seuns payroll are upto 20. Most cost will go to data centers which are now cloud based. Also, the room for growth on NL is huge- it could have a social media like section, escrow for buying and selling, hook-ups e.t.c All these can be built on top of the existing visitors base...

It makes sense to see that NL with virtually no office/staff, will rake in much more profits than say Vanguard or Thisday whose reporters are constantly being chased around...

Still on 'internet companies', lets not forget that some of them e.g Google, Facebook are worth more than virtually all the 'physical companies' in Nigeria put together......

On IMG,

There's a cultural thinking in Nigeria thet internet=scam. Look no more than the sars debacle to understand....

While it might be easier to coordinate a ponzi scheme online, a vast majority of the fraudulent schemes in Nigeria are based offline... From the early days of banks default till today. Reason being they can isolate their 'customers' and deal more harm. Also, Nigeria has a relatively poor internet penetration. For example, how many citizens above 50 are comfortable using a banking app?

IMG was hardly an internet company, the first time I heard about it was after the default... The guy grew that large by operating offline. Recently, there was a fraudulent company that defaulted despite having branches in different states..

In summary, irrespective of platform, due diligence is still important.

Generally, the alyt market can be a good guage of retail sentiment

Eventhough I'm hoping on a betece pullback to have a final loadup, there's also a good chance the coin does breakout...

It's in such conditions that bitc0in usually holds a breakout.... The coin always leaves the majority offside moreso at the extremes