The Coinglomerate (Every Day Crypto)

  Welcome Partners!  03/04/2021 Every Day Crypto is the day-to-day discussion of hot topics , today we dive into Decentralized Finance or DeFi for short! Getting started in the crypto DeFi space can seem to be a insurmountable task with the complexity that is inherent in decentralized lending as we know it. So where do you start? As always this is for educational and informative purposes only, as I am not a financial advisor, sorry mom. Decentralized Finance (DeFi) What is DeFi ? DeFi is a lending medium that exists outside of traditional lenders such as Banks or Credit Unions. DeFi allows persons to borrow against crypto assets without losing the underlying collateral. Unlike a secured credit card where your credit limit is determined by a 1 to 1 ratio of FIAT to lending power, most DeFi lenders use a process called “over-collateralization” . Depending on which DeFi service you use, you will only be allowed to borrow between 50%-60% of the total value of your assets.  Ho...

  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...

  Welcome, now what is this “Coinglomerate”? Cryptocurrency is here, and with wider adoption in the public sector along with support from various financial institutions, it will be here to stay. Welcome to the Coin glomerate! I noticed that beyond a few Crypto Gurus whose content is clean and unbiased or relatively so, that the crypto world is bursting at the seams with misinformation, claims of going to the moon, and scammers abound. I then decided to create the Coinglomerate, an aggregate of all things I have come to know about crypto in small bit size pieces for Every Day Crypto conversations and answers.  Who is “ I ”? Why do I want to be part of this? I am Gabriel, Eagle Scout and a  crypto enthusiast who holds a degree in Political Science and English Literature, who also practices pharmacy as a technician. You may be asking yourself  “who are you to talk about crypto” and your question is a fair one indeed. This question lends itself nicely into the next leg o...