Sounds great. Getting paid interest on crypto was an unexpected possibility when I first came to this board. I had already got my feet wet in the crypto sector with GBTC, the Grayscale Bitcoin Trust, something I could simply buy through a broker, no tutorial about exchanges, wallets, or dodging hackers required. But I knew I wanted to diversify beyond the 800-pound gorilla and, heck, XRP was in the top ten, but cost less than a buck. Then, MS, your discussing Uphold and CredEarn pretty much guided how I would take my deeper dive into cryptos.
Congrats on finding a place to move your XRP—and one that gives you something you were looking for anyway: to not just collect interest on crypto, but to have the yield paid in kind. Seems like, if not a too-good-to-be-true dream, the next logical step, especially if you actually want to use it, not just trade it.
Shall I follow my guru? Daily compounding AND liquidity sounds tempting, but maybe I need the discipline of locking up the money for a time period, kind of like Ripple escrowing the bulk of XRP and pacing its availability. In any case, before signing up for any more exchanges, I want to take potential tax complications off the table. Been meaning to roll over an old tax-deferred account into a Self-Directed IRA to be focused on crypto. Just as soon as I figure out how to do that.
PS Looks like we locked up a price at closer to 26 cents than 25. (Pardon the loose use of the word “we”, MS.)
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