After yesterday's horrible sell off in crypto we watched a lot of steam blow out of the top of the market. I know for me I'm having the time of my life watching history as it unfolds in this new free market. Hedging is a huge part of this and there are a few ways I suggest one can do this.
Most still don't know about USDT or USD Tether. This is a crypto that is essentially pegged to the dollar in a nutshell. One of the bets ways to hedge a position is to put it into USDT. It's a much better alternative to cashing out, in my opinion, creating a taxable situation. So use USDT as a quick way to hedge for yourself.
Second, most of the people I know want to keep their crypto positions and so naturally, in this case, one needs to find "safe haven" coins. Bottom line there aren't many. You want to oldest and most proven coins, with the largest communities backing them that offer what others do not. My current hedging coin is non-other than LTC Litecoin. Litecoin is in my opinion undervalued. More importantly, it has activated Seg-Wit and the Lightning making it the pioneer coin that mimics Bitcoin but with all the bells and whistles. LTC has held up nicely currently at over $43. Many believe its headed to $200 or more soon especally with all the talk of the Bitcoin hard fork which nobody in the Bitcoin community wants to see if you want one legiot Bitcoin and not two chains. Bottom line August 1 is an important date for all of us crypto heads as we find ways to hedge our bets. Litecoin is my favorite choice for now even over a slammed Ethereum.
But as in my last post, there are other opportunities that have come into site most aren't seeing like the new TenX offering currently at .65 cents. This is a company I suggest you look into because it just can't get any lower unless the company is a complete scam which it obviously is not. So in my attempt to hedge I also want to take positions in great companies delivering real use cases and utility to the marketplace.
Lastly, another very good way of hedging quickly is to take some positions in tangible gold and silver bullion using BTC. Currently, gold and silver are majorly undervalued and the trends converging on them are literally off the charts. There are many reputable companies that accept BTC for gold and silver one of my favorites is www.silver.com. So have fun and get your silver coins shipped today!
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