Showing posts with label binance. Show all posts
Showing posts with label binance. Show all posts

Thursday, June 16, 2022

Lost Faith


"They say, see the good in strangers believe your neighbor no one questions why? Never trust in people's words because...all humans lie." 

Let me start off by offering apologies to all readers for the situation with Celsius. I've been using their services since they started in 2018. Full disclosure, I am part of their ambassador program and have funds locked on the platform. Also I invested a large amount of capital in their fund raising round on bnktothefuture. To put it bluntly I have allot of money staked into Celsius and it suxxs that I have zero access to it. We're deep in the bear market and they've halted all swaps and withdrawals on their platform. 

That means nobody can touch their money. I'm not going to speculate on if we're going to get our money back or not. Nor will I address the torrent of rumors that this bank run is a targeted attack against the owner Alex Mashinsky. Hypothesizing is a guessing game. I only deal in facts. What I can say factually is that I did get the interest payment Monday on my crypto like usual. If they're still paying out interest I can't call them a scam. I'm hoping Celsius recovers and makes it through this public maelstrom of bad press. 

Why did I use Celsius and recommended them to my network? The pattern is to sell some crypto at the market peak for profit then save the rest for later. By staking on Celsius I could borrow cash and not sell my crypto. It was that simple. Now that my money is trapped and inaccessible I've permanently lost faith in CeFi platforms. If you're unfamiliar with the term CeFi (Centralized Finance) means a centralized entity maintains custody of your assets. DeFi (Decentralized Finance) means u maintain complete ownership and self sovereignty of your assets. This situation epitomizes the classic euphemism. "Not your keys, not your crypto." To insure u don't lose all your crypto its always good to keep some on DeFi wallets like metamask and coinbase wallet (not connected to the coinbase platform) or cold storage wallets like Trezor and Ledger

For me there are no safe centralized platforms. Just to give perspective Binance one of the biggest exchanges in the world halted bitcoin withdrawals. It was only supposed to be for a half an hour but took much longer. If Binance is having problems no place is safe. The effect it had on the already panicked market was like throwing gasoline on a blazing inferno. Trust is low and fear is high. Not just high like a skyscraper or smoking to much weed high. I'm talking about fear at a cosmic level. The best thing to do in these uncertain times is to take control of your assets by moving them off centralized platforms. (not financial advice) 

That way if we have another Terra Luna debacle or Celsius asset freeze the money is already in your hands. I'm taking everything that's not staked and stashing it away until the relief rally, then I'm going to sell everything faster than a lightening strike. Believe it! I can buy it back later. There's time to accumulate in a bear market.   


I wish u all, health wealth and success

Until Next We Speak, Be Well

Tha One an Only  



Wednesday, December 29, 2021

Shared Resources


"Although time holds the promise of change...problems around the globe remain the same."

The year is coming to a close and it has been interesting. It's the holidays. The most social time of the year and we're back in lockdown. All the bars, gyms, and stores close early. Movie theaters, nightclubs, and concert events are cancelled. People have been restricted to having only four guests in their homes. I'm hearing the word omicron so much in the news its starting to sound like a catch phrase. The only places that stay open after 8pm are grocery stores and coffeeshops. I'm grateful for those little things. According to the last update, if the problem improves the lockdown will end sometime in January.  I've been through this situation before and hoped not to go through it again. The fear is strong. Most citizens who can afford it travel across the border to Belgium for shopping and freedom.


This fear driven environment isn't limited to the social sector. The ripple effect like throwing a stone in calm water, has crushed all traditional markets. If you're into crypto I'm sure you've felt the pain of watching the prices drop like a plane with no pilot. The way people are panicking u would think it was the end of the world. It's not. I made a lot of money, lost a lot of money, and even though the market is crashing I'll earn it back. Since I get asked this question a lot, "What's my investment strategy?" I'll share some resources with you. This is not in investment advice. This is my method to get massive gains with minimum starting capital. 


First, use online resources to find new projects.
One of the resources I've used since its inception is tokenmetrics.com. (Full disclosure, I am an investor in their platform. That's not why they're being recommended.) Token Metrics provides A.I. learning technology with skilled analysts to find the best up and coming projects before they're launched. There are also indices with buy and sell signals to help plan an exit strategy. At least seventy percent of the coins in my portfolio were chosen from their platform. If you're interested in trying their services u can use this referral link for a discount. Others places like airdropalert.com and airdrop.io have lists of new projects which are free, but may require u to complete certain tasks. Be careful with airdrop platforms because some less trustworthy places sell your data to third parties. Do your own research before giving up your information.


Some crypto influencers like
Bitboy Crypto and MMCrypto also provide daily information on projects and what's occurring in the space. One thing to remember with all these crypto influencers, is they can only offer u their opinions. Just like I'm doing right now. The only way you're going to make money is if u take time to research the project yourself. If it looks good to u then take the risk. If not don't do it. Never invest in a project just because a face on social media says it's going to 100x. There's a possibility that u get burned, especially with meme coins.  


Second, join projects early with a use case that innovates or solves a problem in crypto.
This can earn u six figures just off airdrops if they release a token down the line. Don't join hoping for an airdrop, join the project because it has good fundamentals and technology. The most notable airdrops released this year were 1inch, dydx, paraswap, instadapp, and opensea, on the Ethereum blockchain. There were numerous airdrops on other blockchains like Binance Chain, Solana, and Avalanche that were also profitable. 


Third, find good projects where u can stake or mine to earn yield.
Staking provides the fastest way to make a passive income. Some projects offer up to one hundred percent yield. One thing to consider when staking. The higher the APY (annual percentage yield)  the higher the risk. One place that is reliable, low risk, with high yield is Celsius. (Full disclosure, I am an investor in their platform. That's not why they're being recommended.) Celsius provides crypto lending services that allow u to borrow money without selling your crypto.  Also they offer great apy when u compare them to the rest of the market. Mining is safer than staking but the income is slower. The best mining hardware for me is Helium....look them up. Also less known but still really profitable is M2 Pro miner


Last, sell while the projects going up and when its going down.
 I start selling once the asset reaches 3x or higher. The amount u sell is irrelevant. What's important is to take profit along the way. Don't be one of those people who hodl through market peaks and let the price fall to market lows to sell. (Like I was in the last bull market) By taking profit along the way it frees up capital to re-invest into new projects. Both my Helium and Luna reached my price targets so I sold them. With the profit I brought some Near, Atlas, Ewt, Netvrk, and land in the metaverse game Embersword. You can never go broke by taking profits. But it's almost a guarantee u will if u don't, because nothing goes up forever. Also, never put all your funds into one project. It's better to split the funds into twenty projects or more. That way if one fails you have back-ups that can still be profitable. 


Check out the shared resources and always do your own research. I wish u health, wealth, and success. 


Until Next We Speak, Be Well

Tha One an Only