Related Posts
What is the grade structure in NatWest Group ??
Additional Posts in DeFi
Do we trust BlockFi for HODLing? I’m skeptical
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Bowl Leader
I use it primarily to DCA into BTC/ETH/LTC. So I get paid in Crypto and let it compound. Here's my crypto breakdown for full disclosure (in BlockFi):
90% - BTC
9% - ETH
1% - LTC (just for fun 🙂)
70/30 BTC/ETH for me. Considering going bolts purist.
Bowl Leader
So to answer directly - no, I never cash out. Compound only (at least for now). All I want is to accumulate as much BTC/ETH/LTC as possible ATM.
Do you let it compound or cash out the monthly interest payments? I’m struggling to decide. I’ve never sold a coin, so this seems like a good way to start taking profits without selling any of my coins.
I convert my BTC interest into USDC and leave that in BlockFi to generate its own interest. It’s all about how much of your portfolio you want to have in BTC. At 3 BTCs, I feel like I have enough exposure, and am now focused on extracting monthly profits from that.
One can withdrawal at any time without penalty? So could I basically store my coins here
Well I'm trying to avoid that. I also can get more ROI by staking.
Geez folks. Why risk holding volatike ETH or BTC for a paltry 8 or 9%? Convert to stable coin (BUSD), then use a defi farm to stake that coin and earn north of 100%. Or pair it with another stable as an LP and earn even more.. Impermanent Loss across 2 stables is miniscule.. Yeah, your way is theoretically safer, but I'll take the extra juice for what's a very small risk increment. You just need to continually sell the reward token.
This thread
https://twitter.com/ParikPatelCFA/status/1597703274316320768?t=JHKv2j1-V82FrSm1vzRYBA&s=19