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You don't need any custodian to hold your Bitcoin cash and be a personal private bank.

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Written by   176
2 months ago

With Bitcoin Cash, you don't need to hold your funds with any custodian for any reason whatsoever; remember that not your private keys, not your coins; you should move your funds to the ideal way of safekeeping your funds that system is your private keys.

You have many wallets to save your money and have full custody over them without the need of any third party; download either Electron Cash, Bitcoin.com, or Metamask and connect your wallet to the Smart Bitcoin Cash network, and you will have that way an even better wallet than your current custodian. And the best wallet, in my opinion, for large amounts or amounts you can't afford to lose to a hack is a hardware wallet together with Metamask.

In my case, I prefer Ledger as such; I run Metamask together with my hardware key, and my hardware wallet also covers other assets, not just Bitcoin Cash, but at the moment, I only hold Bitcoin Cash and different tokens in the Smart Bitcoin Cash network. Having my private keys gives me peace of mind because I know I won't be a victim of an exchange hack or any hack. Remember to save your seed phrase in a secure place.

And while I was writing this article, I decided to check my private keys to make sure I could have access to them, and so my bank is safe because I have access to my keys from my device and my backups. Back to the article now.

You don't need centralized exchanges to hold, earn and trade your coins because now we all have access to DeFi by utilizing Smart Bitcoin Cash. If you want to stake, you can exchange whatever asset you have for FlexUSD, and you can earn 8% a year, if you have one million dollars, you could earn $80,000.00 a year by just holding your money using FlexUSD, obviously, there are risks, like governments declaring stable coins illegals.

You could also stake Mist and get xMist and earn interest for just holding a decentralized exchange token; the risk here is that the price of the token goes down from the price you bought, or you could also only invest half of your money into a DEX token and the other half in FlexUSD or BCH and earn farming rewards by providing liquidity to a trading pool. Once again, the risk here is that the DEX token goes down in value.

Eventually, Mist Swap and other DEXes will add the option to lend and borrow, and that means you will be able to lend your Mist tokens to traders or people who wish to take a loan, I believe you will be able to lend any token on the SmartBCH network that has a name, and that is recognized and has a decent liquidity pool. Once you can lend and borrow eventually options will be available for those willing to trade shorts and longs.

So why are you leaving your coins on centralized exchanges? Why risk your coins to hacks and inside jobs when you can host your private keys and have financial tools that don't require anything else from you but your wallet address to operate and benefit from an accurate decentralized financing system that is cheap to use too.

You will be able to do a lot with Smart Bitcoin Cash DeFi, and you won't have to pay an eye and arm for it because the transaction fees are truly low peenies, indeed.

What are you waiting for? Move to the better network Smart Bitcoin Cash.


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Be your bank by self-copping your funds and holding your private keys yourself, not your keys, not your crypto.

With #Bitcoin Cash #BCH, you can earn an income utilizing #SmartBCH tools and tokens like #MistSwap and others. And you don't need custodians as #LightningNetwork does, and you don't have to pay high fees for it either, unlike #Bitcoin and #Ethereum that both have high costs.







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Written by   176
2 months ago
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