Thursday, June 3, 2021

2 Easy Ways to Start Crypto

Quick post.

1. Stablefarmer until graduating from Degen school

Convert SGD to USD
Send USD to stablecoin tokenizers (Trust, Circle, Paxos, etc)
Send stablecoins to CeFi lending platforms (Celsius, etc)

Learn about DeFi yield farming
Level up and withdraw from CeFi and engage in DeFi

Learn about other yield strategies (AMMs) and what the tokens do
Finally buy some crypto and graduate into a crypto Degen
Take as long as you want to feel comfortable

2. Long time horizon

Buy BTC and/or ETH, slowly (maybe DCA)
Use only 1 metric to track performance, 3 YEAR RETURNS
That's it, that's the whole strategy.


Of course if you have more time, energy and brain power, you can go harder and faster and deeper.


It blows my mind that finance people are not talking about the insane risk/rewards of yield in stablecoins.

I guess you can't blame them - most tradfi people are too peanut brained to even comprehend the idea of stablecoins, yet alone know that there are various ways to earn healthy yields on them.

Very sad to see how intellectually lazy most people are, but I suppose that's why they have so much fun staying poor.


IMO, it is inevitable that crypto will replace massive chunks of the financial industry, though I would argue that it would happen a lot slower than what crypto optimists are hoping for.

Just look at how backwards DBS is with their crypto offering is a clear show of tradfi incompetence and sluggish response to the markets. Goes to show how bad the brain drain is in finance, since anyone smart enough to understand crypto would've left their bank jobs already. That's why their strategic planning is ass - they have no idea what crypto people want or need, because they themselves arent.

Compare and contrast DBS to the other banks who are too pussy to attempt to change their current strategy. Even worse.

Singapore is a financial hub? My ass.

May open up a Swiss crypto bank account, just because I can. I'll think about it.

Anyway, I digress.


I think it's going to be a very profitable decade to be involved in crypto as long as there are still so many disbelievers - they will have to buy in later, at higher prices.

6 comments:

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  2. After awhile, I find myself comfortable with settling for these gains (not too keen on chasing the animal associated yield pool gains):
    1) Lending USDC on CeFi (Celsius)
    2) Lending USDC on DeFi (Aave) and providing liquidity to DeFi stablecoin pools (Curve)
    3) Buying BTC/ETH and lending them on CeFi in the meantime

    Although the returns have been steadily dropping (for 1 and 2 at least, it's expected anyway), it's still faring a lot better than my remaining international stock ETF and it's pretty decent in terms of effort + reward + risk involved. Just felt like sharing my crypto success too :)

    ReplyDelete
  3. Would prefer an airdrop/testing strategy, as it involves less short term market reading, and more an experimental/learning mindset around new protocols/ i.e. test new protocols, hold new tokens to earn future airdrop

    ReplyDelete
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    Phone: +1 719 629 0982


    E-mail: andersonraymondloanfinance@gmail.com

    Office address is (68 Fremont Ave Penrose CO, 812400).

    ReplyDelete
  5. Good advice overall. But I would caution on advising users to go from cefi lending to defi so quickly because of 100% rug risk.

    Better advise would be to split stablecoins up into different cefi platforms + defi platforms, so in the event 1 of them dies, it wouldn't be catastrophic.

    ReplyDelete
  6. The bitcoin revolution is critical to know who you are doing business with when you are using a forex currency trading system or any other form system for that matter.

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