In what seems like a split second FTX went from an established company that was playing savior to everyone to the next example of a false sense of safety. Now I had expected to see more crypto exchanges fall because only the strong are going to survive the winter and those who are scamming or overhyping their returns will be shaken out from the rest. We have heard rumors over the last few months of exchanges that could fall but I do not remember ever hearing FTX being one of them. With their fall this leads me to wonder who could be next and who might it be that I do not really pay attention to.
Out of the larger exchanges, I can think of off the top of my head I have to lean towards it being KuCoin. KuCoin has already had to fend off fears of insolvency before and they offer extremely high returns of different lending options. The giveaways and the rates that they offer customers is something that in the current environment is highly concerning, to say the least. Due to the depth of uncertainty in the industry, I went ahead today and more or less drained my accounts in KuCoin and only kept what little I had in ADA that is earning with them. There is only one exchange that I have any crypto on and that is Coinbase with my logic and reasoning that regulators already have access to their financials so I feel that they are one of the more transparent exchanges being a publicly traded stock and all.
Stacking Sats
I have been working overtime stacking my sats while the market is down. Even though the price could fall further the price that Bitcoin is currently at is one that I am comfortable with. As I have previously mentioned I use the Fold Debit Card to get sats back on every purchase. Being single and living in Washington, D.C. I am able to earn sats back by purchasing Uber, Doordash, and Amazon gift cards that offer 3%, 7%, and 5% back respectively. The reason that I believe that Fold is about as safe as you can get with earning Bitcoin is that they send out your payout requests every Tuesday as long as you have over 50,000 sats and they pay for the payout!
Given the special offer that they are running as well if you sign up for a free Fold Debit card this month via a referral link like mine here you will receive 20,000 sats putting you almost halfway there! Since the sats are rewards back I see them as practically risk-free since you did not have to invest in Bitcoin to get the sats. Adding in the weekly payouts and the promotion going on right now and Fold seems to be a clear winner in the current environment!
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
Fold App
Offers daily wheel spins to win free sats daily! If you sign up for Fold with my link here you will get 20,000 sats for free!
Robinhood
Robinhood is offering a great signup deal if you use my link here where we will both be awarded free stock. All that you have to do is sign up and connect your bank account for the award! With commission-free crypto trading and the ability to set limit orders, it is a great hybrid offering in my opinion! Not to forget the addition of wallets and the ability to send and receive crypto!
Unstoppable Domains
Sign up using my link here and get a free $10 credit towards your first $40+ purchase!
Coinbase
Sign up for Coinbase and earn $10 of free Bitcoin when you buy or sell $100 in crypto with my referral here!
SMiles
If you are like me and walk to work every day this app rewards your walking with Sats! So far I have earned over 6,000 sats in just a couple of months walking to work! Here is my link!
