Have been trading fiat for crypto all year. Occasionally I have traded it back, sometimes regretting doing that too soon, in the case of BTC (by way of GBTC), and sometimes regretting not doing enough of that sooner in the case of Ethereum Classic (by way of ETCG), although I did flip my latest averaging-down lot for a modest gain. (I will pay taxes on the Bitcoin, none on the ETC.)
For XRP, it has been a one-way street, moving USD into Uphold $500 a day (for a limit of six days a month... once my funding bank clued me in to the bank regulations, that is—oops!). That was mostly to take advantage of the interest that could be earned from CredEarn, even while we wait for appreciation of XRP*. Those loans have six-month terms, so my first will mature November 1, making Tuesday the 15th the date I will add the last rung to complete my loan ladder... before starting all over again, rolling and adding to the rungs.
I must admit, after front loading that ladder with XRP, I have thrown in a little Bitcoin Cash and Litecoin, and LBA (CredEarn’s own token), and sadly, counter to the original point of opening an account with Uphold, I have also been skipping the crypto’s altogether and just loaning out USD, since CredEarn has been offering 10% on that. ‘Too good to be true” finally materialized as “too good to last” as the 10% offered on USD will be cut in half after Tuesday.
Note to Mindless Self: CredEarn is offering to bump the 9% they offer on XRP to 10% for the October 15 strike. That puts me at cross purposes, and makes me regret not yet setting up Plaid, which should speed up the transfers, and also increase my daily transfer limit to $2500 (which should be plenty).
*MS has been my guru on that.
My new goal in life is to be interviewed by Chantel Elloway. When that happens, my comments will be story, observation, opinion, maybe even enthusiasm. What I say will never be instructions on how you should risk your money. Same goes for these posts.
