$10 Free Crypto in link below!
► Subscribe to my Patreon account for all my latest stock and option moves. [ Ссылка ]
► 1 FREE Stock with Robinhood: [ Ссылка ]
► Get $10 Free Bitcoin: [ Ссылка ]
► 100 Free Tickets with a Yotta Savings Account! Use code Adam94
Imagine this, it’s 1985 and you’re sitting around with a group of friends or family, trying to explain what the internet is. What do you mean you can search for stuff, websites, you can buy stuff and bank, that doesn’t seem secure I’d never do that. That’s we are with crypto currency, Crypto is the internet discussion of 1985.
Bitcoin and Ethereum has been on a tear lately. Back in March Bitcoin had dropped to the $4800 range and Ethereum was around $100. Now Bitcoin has jumped up to near 27,000 at the time of this filming, and Ethereum is closing in on $700, with expectations that Bitcoin could surpass $100,000 and Ethereum $10,000.
Crypto isn’t going away, digital currencies and their platforms are becoming too sophisticated. I’ve actually been reading a lot about decentralized financing or defi lately after by Brother-in-law turned me on to it’s yield earning potential. I’m doing a lot of research on it lately because I am no expert and still consider myself a novice. You can go down a never-ending rabbit hole.
Just so we’re clear, I have been a supporter of Robinhood through out it’s turmoil. And to be fair, I tried almost all other platforms and Robinhood still won my affection, although I remain impressed and still use thinkorswim.
However, I would not buy any Bitcoin or crypto currency from Robinhood. And there are several reasons for that. You cannot transfer it out of there, you must liquify it, meaning, you must sell it off for cash.
If you wanted to transfer some to a bank, send to a loved one, purchase something because it is a currency, you cant. If you’re just holding it in there as an investment only. Fine.
If you wanted to house it in a saving account of sorts on a defi platform to earn a yield, you couldn’t.
Under the insurance policy on Robinhood, it says right here only a portion of your crypto would be covered. Well, define portion. Is there an amount attached, a percentage, who decides the size of the portion? They are not insured by SDIC or FDIC if that was what you were thinking
They say you’re not paying fees, but you are. Robinhood is buying the coins from another party, exchange, platform whatever you want to call it, who in turn charges them fees.
Robinhood isn’t paying your fees to be nice. They bake them into the current price of whichever crypto you’re looking at. Don’t believe me, go read the Crypto agreement on Robinhood.
Robinhood doesn’t give you the keys. “Not your keys not your bitcoins.” Is the well-known saying because whoever controls the keys has full control over your bitcoin or crypto. Robinhood controls the keys which is your proof of ownership. You should own your proof of ownership. In reality Robinhood owns your money and just gives you promises and hope.
When you own cryptocurrencies, what you really own is a private key, a critical piece of information used to authorize outgoing transactions on the blockchain. Whoever has the knowledge of this key can spend the associated funds. If Robinhood goes down tomm, how would you authenticate your crypto. You couldn’t because of these damn keys.
That’s why hardware wallets like Nano ledger’s are so popular. They look like a flashdrive. A hardware wallet is a cryptocurrency wallet which stores the user's private keys (critical piece of information used to authorise outgoing transactions on the blockchain network) in a secure hardware device. The main principle behind hardware wallets is to provide full isolation between the private keys and your easy-to-hack computer or smartphone.
I use Coinbase. As the leading mainstream cryptocurrency exchange in the United States, Coinbase has become a standard on-ramp for new crypto investors. Coinbase offers a wide variety of products including cryptocurrency investing, an advanced trading platform, custodial accounts for institutions, a wallet for retail investors, and its own U.S. dollar stable-coin.
Going back to the keys. Users do not control their own wallet keys: This is consistent with many centralized exchanges but it still remains a con for all of them. When a user purchases cryptocurrency on an exchange it is stored in a wallet that Coinbase has control over. This means that the user does not have full autonomous control over their holdings which, in essence, is against the ethos of decentralized currency or finance. This can be avoided if the investor withdraws their currency to their own personal wallet, preferably a hard wallet, like the ledger I mentioned earlier, and now you have full control over your crypto.
#bitcoin #ethereum #coinbase
Do not buy Bitcoin or any Crypto HERE! | You've been Warned!
Теги
cryptocurrency newsbuy cryptocurrencyinvesting in cryptocurrencyhow do i buy bitcoinbitcoin for beginnershow to invest in cryptohow to invest in bitcoinhow to buy bitcoinhow to buy cryptobitcoin good investmentcryptocurrency news todaybitcoin news todayshould i buy ethereum or bitcoinhow to invest in cryptocurrency on robinhoodshould i buy ethereum nowhow to buy cryptocurrency for beginnershow to invest in cryptocurrencycoinbase review