Full Transparency Infographic
What’s in your wallet?
As part of The Coinglomerate’s commitment to total transparency I am releasing a graphic showing what products and services I am currently using along with my major crypto holdings. I wanted to take a moment to break down where I am at so that you and I can be on the same page.
Cryptos
BTC, or Bitcoin is my primary HODL assets, HODL means to hold for long term growth, the typo is intentional, and is widely used as such in Crypto slang. I store most of my BTC in a interest account, more on that later. BTC is the father of crypto as we know it, and is currently the most popular by name recognition. BTC uses blockchain technology to verify transactions on the chain, and derives value from its inherent security and use cases.
LTC, or LiteCoin the coin that I use for both HODL, as well as a transaction medium. LTC is faster and cheaper to transfer from wallet to wallet with less “gas” fees compared to ETH. I will often “take profits” from one account, convert my crypto from say SNX or XYO to LTC then transfer LTC into my long term HODL wallet or to another exchange to then trade LTC for another currency. BTC is my “digital gold” and LTC is my “digital silver”.
ETH, or Ethereum is used as a “gas” for all ERC-20 based asserts to be transferred between wallets. I HODL this as the ERC chain technology has many use cases such as insta-swapping tokens at correct market prices, and much much more. ETC is a major transaction block and has a place in my portfolio.
PAXG, or PAX GOLD is a coin that is matched to 1 Troy oz of physical gold being held, a literal “digital gold” as opposed to BTC. I hold a small amount of this to help diversify my portfolio, who doesn’t love gold?
CRO, is the native coin to the Crypto.com ecosystem. I HODL enough of this coin to qualify to use the Ruby Red VISA debit card. I use this as the benefits of 2% crypto back on daily spending adds up! Plus when you factor in the reimbursed Spotify Premium ($12.99 a month USA) then the rewards really add up!
GUSD, or Gemini is a stable coin pegged to the USD backed by a central bank, I only store GUSD while waiting to “buy the dip” on a week to week basis and rarely HODL for more than a few weeks. I can easily transfer GUSD to and from BlockFi and my FIAT bank account through ACH transfers.
XYO, this ALT (alternative) coin is tied into the XYO application for IOS that derives value from geospatial data logged on your smartphone, at writing I hold over 16,000 of these coins, but the value is extremely low due to limited use cases and advancements, still, with IOTA and LongFi taking off this is the only “moonshot” in my portfolio and represents less than 1% of my HODLings.
ALGO/ATOM, or Algorand and Cosmos respectively are held for passive income. These two coins assist in decentralized finance applications as well as providing transactional support for the moving of funds. ATOM more correctly functions as a bridge between block chains and derives its value from this scaling and incorporation. These two coins are the largest HODL of my portfolio outside of BTC/LTC.
Wallets
Wallets are where you store your crypto once it has been transferred off a exchange. There are two main types of wallets. Physical or hardware wallets which also contain software, and then we have software wallets such as a application on your phone.
Ledger Nano S, is a physical wallet and only physical wallet I own. This device is extremely secure and safe way to store crypto off an exchange. This is normally done when large dollar amounts are being traded. As of today I do not store any HODL coins in this wallet but I have tested the device and sent/received coins from it as part of a test. A full review will be coming soon. For those just starting this is not a necessity.
Crypto.com and Coinbase both offer a wallet application separate from the core exchange app. I utilize the DeFi lending of assets through Compound on Coinbase as well as the Earn function from crypto.com. Note the earn function resides within the core app and not the wallet.
Metamask is used by myself only for XYO HODL rewards at this time. I have not had the need as of yet to utilize any other functions of this tool, but your Metamask allows you interact with the blockchain and use its full abilities as a ETH medium bridging crypto DAPPS (decentralized apps) to web browsers like Chrome or my favorite Brave.
Cards/Finance
BlockFi is my go to for HODLing BTC, LTC, ETH and PAXG as this interest accounts earns 5% to 8.6% APY and is compounded! Once you reach $5,000 you can take loans against your crypto without selling your coins at low interest rates starting at about 6%. BlockFi will soon be offering a crypto credit card for those who would want a more traditional way to earn crypto rewards.
MCO/CRO Visa debit card is my daily use card. I earn 2% back in CRO on most purchases, and free Spotify premium ($12.99/m) reimbursement. The Ruby Card is easy to load as I ACH transfer directly to my FDIC insured bank account and then transfer my FIAT or cash into crypto as I see fit, or leave the dollars as is and spend while earning rewards.
Nexo is the newest DeFi application I have started to use. The use of NEXO to earn 8% + interest and dividends from the company are what is drawing me to use this service. I also like how this company also offers lending at a lower threshold than BlockFi with similar rates.
Swipe is my back up crypto card, if for some reason I cannot use my MCO Ruby card my Swipe card comes into play to earn me 1% cash back in SXP, the token for Swipes ecosystem. This card only functions as my backup and does not have a day to day use for myself at this time.
Referrals and Disclosures
I am not paid to recommend any of the above products, nor do I explicitly recommend blanket solutions, with your own due diligence you can arrive at which of the above tools or products would be right for you. Only you can make this choice, the Coinglomerate does however ask if you choose to use the above services to please consider using our referral links to help support us. Each link below will be transparent on if and how we would receive a referral bonus and the amount of that bonus. Thank you Partner for sticking through to the end!
Opening a interest account with $100 or more will net you a cool $10 bonus in BTC, and we will also receive $10 in BTC.
The first level Midnight Blue Visa card is free to use and earns a 1% crypto back in CRO, and if you fancy the service you can upgrade or start at the Ruby Red Visa card, 2% CRO back, and 12.99 a month Spotify premium reimbursement. This does require a “stake” or holding amount of 5,000 CRO which as of writing is about $830 as CRO token price is elevated. If you do stake the required amount we will both receive an additional $25 worth of CRO. Fair warning, some people seem to have issues with the issuing of cards outside of the USA, with people having extended wait times on receiving the card.
This is the hardware wallet I own, for those of you who are going to contributing more than a few hundred dollars into offline storage I would recommend this solution. If you decide to purchase one we would receive a 10% BTC commission.
If you have any questions please let me know!
Gabriel
Coinglomerate Partner
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