Investing

The RFD - Cryptocurrency Mega Thread

Deal Fanatic
User avatar
Dec 14, 2010
6117 posts
7020 upvotes
Bull Dog wrote: There's a Canadian company called Ledn that pays interest on USDC and Bitcoin similar to Celsius and Nexo. Has anyone here tried it?
Edit: You can't buy the coins on the site, you have to transfer coins in from Paytrie, Shakepay, Newton, bullbitcoin etc.
@rodbarc , you must have heard of it ?
Yes, and there were some discussions on insurance on it ion Aug 20 on this thread. I haven’t used them. Not sure if Antoine has experience with them.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Sr. Member
Feb 15, 2013
775 posts
246 upvotes
Toronto
anyone hold QBTC.U or QBTC ? what is the difference between both? I am planning to start a small position QBTC.U
Sr. Member
Jul 13, 2007
982 posts
511 upvotes
Toronto
gskn4u wrote: anyone hold QBTC.U or QBTC ? what is the difference between both? I am planning to start a small position QBTC.U
.U trades in US$. Same thing but different currency. They should always trade in lock-step with the exchange rate.

If they are indeed the same CUSIP (seems like they might be?) you could do a Norbert's Gambit with this, but I'd pick something with higher volume.

Realize that it trades at like 13% premium to NAV. Only hold in your TFSA or RRSP, otherwise hold coin directly. With an MER of nearly 2%, you may still want to hold directly outside of your TFSA/RRSP anyway and stuff your TFSA/RRSP with something else https://3iq.ca/the-bitcoin-fund/
Sr. Member
Feb 15, 2013
775 posts
246 upvotes
Toronto
HammerRFDer wrote: .U trades in US$. Same thing but different currency. They should always trade in lock-step with the exchange rate.

If they are indeed the same CUSIP (seems like they might be?) you could do a Norbert's Gambit with this, but I'd pick something with higher volume.

Realize that it trades at like 13% premium to NAV. Only hold in your TFSA or RRSP, otherwise hold coin directly. With an MER of nearly 2%, you may still want to hold directly outside of your TFSA/RRSP anyway and stuff your TFSA/RRSP with something else https://3iq.ca/the-bitcoin-fund/
any help/info how to hold BTC directly.. I am new to BTC..
Deal Addict
Aug 1, 2006
1498 posts
1091 upvotes
Toronto
gskn4u wrote: any help/info how to hold BTC directly.. I am new to BTC..
Get an account at a Canadian exchange such as Shakepay or Newton, e-transfer in some money and buy Bitcoin with it. Then either transfer to your own private wallet, which if you want to have on your phone, could be Trust Wallet as an example. You will also have to buy some Eth coin ( ? 20.00 worth ) . and transfer a bit to the private wallet as well to be able to eventually transfer the Bitcoin out, it's used up as payment for movement costs. You don't need the Eth if you are just transferring to and from central exchanges. If you want to earn money on the Bitcoin, transfer it to an exchange such as Blockfi or Ledn where it will earn about 6.2 % there. Eventually when you want to sell the Bitcoin, transfer back to Shakepay or Newton and sell to CAD and etransfer back to your bank.
Deal Addict
Aug 1, 2006
1498 posts
1091 upvotes
Toronto
rodbarc wrote: They have been growing rapidly, and although it’s understandable that the older higher rates wouldn’t last forever, they could have done a better job giving more notice. A lot of people had their cro staking in auto pilot (past the lock period), and once rewards were lowered, many booked profits and moved somewhere else.

Their ecosystem is complex, so it takes time to learn well how each product works. A better communication would certainly help.

Cro, like most crypto, is volatile, so one shouldn’t take price action for their decisions (unless they are solely trading it). I always viewed staking cro as the price to access their Visa card perks, so define how much you are willing to spend on it and then farm it, don’t buy it, or use profits from other projects to buy it.

My goal is to stake enough for their Icy card, so I continue to farm it on defiswap and have buying orders for 10 and 7 cents. The orders at 12.5 cents already filled up.

Cro is in early stages, and I usually compare it to Binance back in the days. Look at their ups and downs and how price fluctuates. I think it’s a decent long term holding, so I hold both and use their rewards as much as possible to recover the “locked” capital. That’s just one project, diversifying on others is important as we don’t know what the future holds, but a basket of decent projects should produce a good positive return overtime. Specially on projects paying interest when you hold your favorite coins, like BTC or stablecoins.


Rod
You expecting it to go down from 0.12 to 0.07 CAD ? That's a substantial dump.

Ugrading from Ruby to Jade now would cost $1080 CAD to buy 9000 CRO vs $1680 CAD to buy 24,000 CRO after Nov 2 if CRO dumped to 0.07 CAD ( plus extra 50 USD upgrade fee ) .
Deal Addict
Jul 11, 2007
1276 posts
307 upvotes
Bull Dog wrote: You expecting it to go down from 0.12 to 0.07 CAD ? That's a substantial dump.

Ugrading from Ruby to Jade now would cost $1080 CAD to buy 9000 CRO vs $1680 CAD to buy 24,000 CRO after Nov 2 if CRO dumped to 0.07 CAD ( plus extra 50 USD upgrade fee ) .
Pretty sure those price targets were in USD
Deal Fanatic
User avatar
Dec 14, 2010
6117 posts
7020 upvotes
Bull Dog wrote: You expecting it to go down from 0.12 to 0.07 CAD ? That's a substantial dump.

Ugrading from Ruby to Jade now would cost $1080 CAD to buy 9000 CRO vs $1680 CAD to buy 24,000 CRO after Nov 2 if CRO dumped to 0.07 CAD ( plus extra 50 USD upgrade fee ) .
No, the amount I mentioned are in US$, since exchange and defiswap prices in US$.

It’s not expensive to start on Jade / Indigo, but it’s expensive to start in Icy / Rose. If you unstake, you lose card benefits. So I consider the staked cro as the fee to use the card, like lost money, since the goal is to not cash out (even if it’s possible to do that later). So the math I did to choose the tier was how long it would take me to recover my staked cro in the app (the locked amount that I’m considering lost). That includes regular purchases at their cashback rates + free Netflix + free Spotify + all the high interest I make from their Earn. It would take me a year to recover my staked cro (I’m on Indigo card). The new Icy is very good with 5% cashback everywhere, no other card has that. And it pays 10% interest on the staked cro in the app for the card. 100,000 cro costs today C$11,700. You get C$1,170 on cro Interest alone. Netflix rebate is C$200 per year. Spotify rebate is C$180 per year. Stablecoins 3-months deposit pays 12% interest. Plus 5% cashback on every Visa purchase, so see how much you spend a year, 5% of that you have back, and between cro interest + $380 back on netflix / spotify + stablecoins interest + 5% cashback interest and calculate how long it would take to recover that C$11,700. That’s the math for Icy starting now, it’s a lot quicker to recover on Jade / Indigo.

I expect cro price to climb again next year, Brazil is their next target next year, they just hired an ex-Visa executive as the region manager for Brazil, which is a huge market for crypto given their crappy economy.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Addict
Aug 1, 2006
1498 posts
1091 upvotes
Toronto
@rodbarc I don't know why they insist on wasting money on Spotify. That doesn't interest me in the slightest, and I know lots of people here get it free from other vendors.
Deal Addict
User avatar
Jul 6, 2010
3080 posts
857 upvotes
Toronto
Bull Dog wrote: @rodbarc I don't know why they insist on wasting money on Spotify. That doesn't interest me in the slightest, and I know lots of people here get it free from other vendors.
Doesn't interest you but doesn't mean it doesn't interest others. Netflix doesn't interest me, but Spotify does!
Deal Fanatic
User avatar
Dec 14, 2010
6117 posts
7020 upvotes
Bull Dog wrote: @rodbarc I don't know why they insist on wasting money on Spotify. That doesn't interest me in the slightest, and I know lots of people here get it free from other vendors.
I hear you, but overall these are popular choices, look at how many subscribers they got. I use both. Nice bonus on top of cashback and an easy way to get reasonable interest rate (nothing compared to DeFi though). Currently making 110% apr on ETH, 25% in BTC and 95% apr in stablecoins.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Member
May 4, 2010
239 posts
227 upvotes
Ottawa
Going to start receiving a trickle of UNI from the CDC Supercharger. Given the small amount, what can be done with them besides selling?
Deal Fanatic
User avatar
Dec 14, 2010
6117 posts
7020 upvotes
introspect wrote: Going to start receiving a trickle of UNI from the CDC Supercharger. Given the small amount, what can be done with them besides selling?
When uniswap activates their fee switch for uni holders, they will be rewarded by what they hold. But there’s no ETA on that and there’s way more farm and dump happening. Farm these tokens and sell to the coins that you want to hold for long term. And earn interest on them.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Addict
User avatar
Mar 18, 2006
1213 posts
40 upvotes
rodbarc wrote: I hear you, but overall these are popular choices, look at how many subscribers they got. I use both. Nice bonus on top of cashback and an easy way to get reasonable interest rate (nothing compared to DeFi though). Currently making 110% apr on ETH, 25% in BTC and 95% apr in stablecoins.


Rod
How are you getting 110% APR on Eth?
Deal Fanatic
User avatar
Dec 14, 2010
6117 posts
7020 upvotes
akky wrote: How are you getting 110% APR on Eth?
Already dropped to 60% as liquidity grows since rewards are fixed. Should have clarified, this is farming ETH by staking pickle, since they now pay the rewards in ETH. One way to have full ETH exposure is by supplying ETH in Aave, borrowing TUSD, swapping to USDC and putting on pickle 3pool farm. Interest is farmed in pickle, which can be staked to be rewarded in ETH, but net is lower (20% apr on 3pool farm, and then 60% apr on that 20% apr farmed).

Other than that, highest APR with ETH is on Balancer pools with BAL (about 100% apr) and uniswap Pickle/ETH staked in Pickle (about 130% apr), but they have IL risk. Without IL risks and full eth exposure only, one can supply eth in aave, borrow tusd, swap to usdc and put on stabilize, for about 50% apr. STBZ can then be sold for eth to supply again and improve health ratio or be sold for TUSD to lower debt.


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.

Top