Spread the wealth and the risk
I have done some organisation with my crypto finances. The reason behind this was to cover my bases. I like the concept of earning interest on my crypto but in doing so I am trusting a 3rd party not to run away with my money or mess up and get hacked.
In order to spread my risk, I have spread my crypto
Bitcoin is divided into 4 equal parts
- Celsius Network (earning +/- 6% ROI paid weekly)
- Nexo (earning +/- 6% ROI paid daily)
- Blockfi (earning +/- 6% ROI paid monthly)
- Hardware wallet (swiss made bitbox02)
ETH is also divided into 4 parts
- Celsius
- Nexo
- UNISWAP Pools
- a little reserve on Metamask
All other tokens that were possible and accepted are in the Celsius Network
The rest is on another hardware wallet with Metamask
Some are also Pooled on Uniswap with the ETH mentioned before.
Leo
DEC
RFOX
Everything on the Hive ecosystem is powered up where possible and being used in curation with the master key safely hidden away.
There were times when Hive & CO were a major part of the portfolio but this is no longer the case and with that came the need to sort out the mess, clean out old exchange accounts and get a nice overview.
Have you done something like this or is everything
- Cold storage?
- Exchange?
- Only on Hive and powered up?
In the end, I believe that the chance for me to mess something up myself and lose money is bigger than the chance that these companies run away with my money
Posted Using LeoFinance Beta
Everything in cold storage and all the HIVE related things powered up in my case.
I only use exchanges... well, to exchange hehe.
Currently starting to try Celsius for hodling some BTC. Let's see how it goes :)
Posted Using LeoFinance Beta
I'm participating in a number of tribes which each generate their own token rewards. Along with dCITY which is a vastly underrated game that I really enjoy and which doesn't require too much of my time. I keep hearing about Nexo and may take a look when I get the chance.
Posted Using LeoFinance Beta
Maybe a stupid question but still:
Is it possible to transfer coins, which are managed with a hardware wallet, into these pools (e.g. Celsius) via smart contract or similar or do you always have to transfer them to a 3rd party to participate?
To be honest, I would be a bit nervous. In principle I don't trust that at all.
Posted Using LeoFinance Beta
you can transfer coins to celsius but not delegate like we do here on hive. So in theory you are not the owner of your coins anymore
It is currently not possible through smart contracts. I am not really that technical that I can handle those true defi protocols and am not that versed to be able to read the smart contracts and check they are ok.
Hence the middle solution of CEFI for me. I kind of trust that they have people that know what they are doing and I cannot mess that up
Posted Using LeoFinance Beta
Okay I see, thank you for the execution. I almost suspected that.
But then the whole thing is uninteresting for me. Do I get pimples again, when I press my funds into the hand of a 3rd party.
Posted Using LeoFinance Beta
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Congratulations @felander! You received a personal badge!
Participate in the next Power Up Day and try to power-up more HIVE to get a bigger Power-Bee.
May the Hive Power be with you!
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