Crypto Party Time!
This is the 3rd entry into the financial portfolio of BradfordCore. Today we will look at the cryptocurrency aspect of my portfolio. These are just my Coinbase and BlockFi accounts. I have other assets that are held offline which is much more secure. I recommend doing the same if you get into crypto. My goal for crypto is to make it up to 10% of my overall portfolio. I buy every week a set amount that I have slowly been building up over time. Small steps for me as I am still wary of the crypto scene.
In my Coinbase account have little over $1500 in it spread out over Bitcoin, Ethereum, and Litecoin. I started this account in 2017 right when Bitcoin started its climb to $20,000. I had about $2000 in Bitcoin at the time and sold it for a quick gain, that was a big mistake. So now I am slowly building up my holdings in Bitcoin and Ethereum to not miss the boat anymore. Diamond Hands and hold is the name of the game now.
BlockFi is cool because it pays you interest on your holdings. So I am putting more into this account than Coinbase to take advantage of the interest I could gain. For Bitcoin you can get up to 6.0% APY on your balance so I have about $1000 in bitcoin with total interest paid so far at $0.85. Ethereum I have about $570 worth that has paid me about $12.00 in interest.
Now we get to my stable coins. Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference. The ones that I have are GUSD and USDC, they are both tied to the U.S. Dollar. GUSD is held in reserve at State Street Bank and Trust Company. I have about $500 in GUSD that pays 8.6% APY which has paid me about $5 in interest.
USDC is where I have a good chunk of my money at BlockFi. I have about $1000 in USDC which pays 8.6% APY which has paid me about $43. USDC is issued by regulated financial institutions and backed by fully reserved assets, and redeemable on a 1:1 basis for US dollars. USDC is governed by Centre, a membership-based consortium that sets technical, policy, and financial standards for stablecoins.
So now that you know what I hold here is the total crypto currency minus the stablecoins:
Bitcoin total: 0.03117842
Ethereum: 0.75720266
Litecoin: 0.65362463
If you want to get started on BlockFI here is a referral code: