I’ve been recently interested in DeFi and have long been interested in cryptocurrency vs. fiat money. One thing that I have always cautioned people about cryptocurrencies is their risk that they could go to zero, and as such, I’ve only ever mined or traded crypto that I held, never invested any of my fiat dollars (the exception to this rule is that I have recently exchanged some fiat for stablecoins as they are pegged to the fiat dollar in order to get higher returns than the bank or even stock market). I wouldn’t feel right, especially with crypto at an all time high, if I changed my tune and said to the people I care about that they should go and buy bitcoin, or invest in crypto (however I’ve used some of what I’ve cashed out, to buy the dip on certain bitcoin ETFs traded on the Toronto Stock Exchange in my Tax Free Savings Account).
With my foray into DeFi and yield farming, I’ve decided that since what would have been sitting in a cold wallet is now earning me additional crypto, I might as well share this “bonus” with those closest with me.
My decided introduction to the world of crypto:Continue reading Why I am giving my family and friends $500 worth of crypto