I am not aware of these layer 2 bitcoin solutions... You mention hodlhodl...perhapes its time to check out these peer to peer ways of buying and selling bitcoin.
Just one question is it hard and inconvenient to use, because you need to you have the money in your account and there will be a delay right...disputes and stuff.
I recently got commented that I can't go rich without exploring all this DEFI, and peer to peer stuff because taxs will eat away gains and if I remain to be lazy or ignorant on this, I don't deserve to get rich it seems, put me off.
That's why figuring out how to have cryptos to work by lending in DEFI and get wealth.
Not gone anywhere yet...checking solana, mirror, venus, even CUB finance to understand how things work.
I understand there is a learning curve and risk will be there and will learn how to go about this slowly.
Anyway...interesting article. Should checkout liquid, lightening, hodlhodl...in my to learn to further grow as a crypto person list.
Personally I don’t care about getting rich so I’m not one to ask about that, I just want a place to save, so I’d lyn care about this defi stuff and trying to add more complexity and tax to my life
I don’t sell Bitcoin I only buy it and HODL it, a small fraction I lend out but other than that I don’t do much else
Most of these defi platforms you will lose money becusee even if you make a gain you lost ground in purchasing power relative to Bitcoin and added a tax liability
So for me BTC buy and hodl works great and I can concentrate on what I do for a living which is my business
HODLHODL rates have nothing to do with buying and selling assets! You see the terms of what interest rate you want and those looking for Bitcoin will apply to take lend it from you for a fee
If there are disputes there is moderation by the platform but most times both parties agree and sign off to release funds after. Moderation comes in when loans a aren’t repaid and the funds locked in need to be liquidated
Even I am not looking to grow rich...I just want to be in this space because I am passionate about it. It can be challenging in countries with Govt. regulations that are hostile towards crypto.
To avoid stress I feel its ok to think you will build wealth bit by bit over time and refine your stratergy towards the goal.
Truth be told, crypto are making people rich and they use their tactics, DEFI too...during a bear market or when prices have corrected I hear its better to have your cryptos earn you interest or passive income so actually your not losing money only, but making some amount of money as well, over time it would build wealth.
As for BTC, I am very aware of it being digital gold but have not seen it as anything more and was not aware that liquid and lightening scale it properly so it becomes resonable to use.
It's great to HODL btc...and your stratergy will earn you more and more BTCs which is good, over time you will have considerable wealth for sure...
I also keep hearing that rates hodlhodl are better than CEX and CEFI...really?... you can buy cheaper and seller at a higher price here is it?