Crypto Clutter! What are all these projects and which should I focus on?

4 22
Avatar for Sheriff
3 years ago

Crypto is a growing term which includes more and more companies, projects and apps cluttering our lives. Here I present a brief list and summary of some of my adventures for ridicule or renown. 

 

Robinhood - Yuck! The trickster trading app that is under heavy scrutiny and legal action these days. Robinhood is the reason I chose Sheriff of Nottingham as my blog name, to poke fun at them. But hey they introduced myself and many others to investing. Not your keys not your coins rings true here for many. 

Fidelity - My actual introduction to investing but I didn't realize it until later because 401ks are "BORING!". I have to say I have this before you scrutinize my crypto adventures too much.

Oher stock brokerage mobile apps - Rolling these into one for expansion in a later article. Let's just say some are more user friendly than others. Robinhood does lead the way in eye appeal and ease of use, but is that a good thing when you're putting money on the line? I have found there is money to be made in chasing referral codes so I was willing to try several of these out. 

CoinBase - In some ways similar to Robinhood but for Crypto. I have later realized the arguments against recentralization of crypto and am not an avid supporter of theirs currently. I find the three apps required to use their platform incredibly stupid and annoying! (Coinbase, Coinbase pro, Coinbase Wallet). Realizing the CoinBase app and CoinBase pro were the same thing but with higher fees was irksome as well. Shelved for now.

Other crypto apps - I would love a shortcut from readers' input here. I am still exploring to find the absolute lowest fees possible. I have read recently that Binance can be trusted as it is based out of the U.S. and Kraken too since they moved their servers out of China and into Japan. Do people who use say, Celsius or other lending apps just buy straight through them? Or is it less expensive to find an app with the lowest fees and then pay the transfer cost to send it over to yourself on another exchange? Again there is some referral chasing available here so I don't mind trying out a few alternatives. 

Crypto Kitties - Alright this one seems silly, but they are cute. I briefly explored this site as a way to get into NFTs but couldn't figure out how to get started for free. It seemed like I would have to buy a cat with ETH to get started. Leaving this on the shelf for now.

MetaMask - I installed this as an alternative to CoinBase wallet. It does have a nice look and user interface but I fail to see the use case for a wallet that is neither in cold storage nor in an exchange. 

Crypto.com - I'm an avid rewards points chaser so a "cash back" version of BTC rewards is an intoxicating notion for me. I am still a new user here and awaiting the card in the mail so time will tell how it pans out. 

CakeDefi - Following the old investing adage to "set and forget" I am trying out a small slice of Cake over at CakeDefi. They have a very engaging social media presence including lots of friendly videos on YouTube. I've handed them over a little crypto into one of their liquidity pools hoping it will grow in the future. I am respectful of the crypto security enthusiasts who would cringe at handing keys over to a third party custodian. However at my stage of crypto growth I am willing to test the waters of DeFi.

Cash App - Similar to crypto.com in that they offer rewards incentives, but structured more like PayPal's Venmo app. I am less wary of this one because it is a venture of Square inc. I have not participated very long to have earned many rewards yet but a 5% bitcoin back "boost" at any coffee shop looks like something I will take advantage of. 

CryptoTab Browser - This seemed like a fun alternative to mining since I cannot afford an expensive rig. If you've got solar panels or otherwise free electricity go for it but I doubt most of us can stack enough Satoshis to break even on the increased electricity bill CryptoTab creates.

 

Any of your favorites that I missed? Did I just hand over my crypto to a nefarious foreign government? I'd love to continue learning with any additional suggestions or advice. I'll write about it so everyone can get a good laugh out of it. Cheers for now!

3
$ 0.00
Avatar for Sheriff
3 years ago

Comments

Crypto.com is one source for me. I use Brave browser for free BAT but still a ways from the min withdrawal limit. You have a nice mix here!

$ 0.00
3 years ago

Thank you for the comment! Did you get one of the cards or just using it as an exchange?

$ 0.00
3 years ago

Can you explain CakeDefi to me...?

$ 0.00
3 years ago

I have another article called DeFi put simply. That would be a great read if you want CakeDefi explained. Thank you for asking! Please comment back if you want more help.

$ 0.00
3 years ago