My monthly BTC buy and the Defi Movement
I have been buying BTC for 4 months in a row now using a Dollar Cost Averaging technique that does not only buy regularly but also sells to take advantage of the peaks and drops in price.
In this post I explain better how it works
https://www.steemleo.com/steemleo/@felander/buy-low-sell-high-how-you-can-as-well
This months buy was a really nice one since the price of BTC has gone down a bit and this allows me to accumulate some more SATS
Last month we had the price moving up a bit since end of November but the drop to the range between 7k and 8k seems to be setting up for now.
I have kept it most of it in my Lykke wallet for now but that means it is not getting any interest like the BTC that is sitting in my Celsius app.
And seeing/hearing Alex Mashinsky in a speech in Cincinatty speaking about how we all need to unbank ourselves and I cannot agree more.
Well, I do need to clear up that statement to make it a bit more closer to my view.
We need to make the banks realise that they are not the only game in town anymore and that the days of sitting back and raking in the money without any justification and without opening the books and only looking out for the shareholders are over.
The DEFI (decentralised finance) movement is really starting to do that and a company paying out 80% of their profits out to the users is really something that does not exist anywhere.
I am getting about 10% ROI yearly on my stablecoins and 4 or 5% on my BTC and not even 0.5% on my savings account, not to mention my current account. That means that taking into account inflation I am losing money just by keeping it in the bank and adding fees makes it even worse.
Now for me the current decentralised options are not so far advanced that they are as easy to use as the current system that is still very dependant on the banks.
But I am continuously adding to my holdings in Celsius and Nexo and keeping the FIAT reserves only to a few months wages to cover emergencies.
How are you taking care of your money??
Are you averaging in or using the DEFI options
and if so which ones?
Wow!
I was wondering exactly how to do this and to get involved more in DeFi (only studied about Maker, DAI & compound and didn't invested enough time yet).
Celsius seems pretty solid and I guess I'm going to give it a try. Could you share your refcode pls?
Thanks mate :)
gladly.
https://celsiusnetwork.app.link/15398955a5
this will let you download the app. If you deposit 200 Dollars we both get 10 dollar in BTC. I have been using it for months now and its really solid. I am slowly building my deposits there as well
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