Follow Up - QNT and CakeDefi


Morning cryptofamily! I guess we are all happy to see the cryptoverse doing so well this morning. Gotta be honest, I much prefer slow and steady over extreme movements, but I will take the rise. I think the fact that the Senate didn't rubber stamp some awful proposed legislation over cryptocurrencies gave us all a sigh of relief and a boost in price.

QNT - The more I read about this project, the more I feel that this project has the potential to thrive in either a bear or bull market. The ability to connect multiple, unique blockchains is the use that will bring many projects together. That's a pretty powerful tool. I know a lot of folks are scared off by the price, but if you look at overall tokenomics, QNT is more limited than Bitcoin and differentiates it from many tokens out there. I just find that so many new to the crypto space go for the projects that are cheap (READ - less than a penny) and think they will hit it big with a multiple. This is not the way.

CakeDeFi - I took a dip into liquidity mining on CakeDefi. Very easy process to set up, but you do need to go through the KYC process. Once you have done that, the site offers multiple options including liquidity mining, staking and lending services all at decent rates. Liquidity mining yields the most, but you get rewarded in DeFi tokens and a small amount in the currency you paired - ETH for me. In about 1 week, I have made about $100 in DeFi tokens. Easy, passive income. When you are ready, you can transfer those DeFi tokens to an exchange like KuCoin and just go from there. DeFi is actually a pretty decent coin to have in your portfolio or just convert.

Be careful out there and have fun!

 

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My New Passion - Crypto - BTC, ETH, ADA, Oh My!
My New Passion - Crypto - BTC, ETH, ADA, Oh My!

Life is about perspectives and how you choose to see the world. The pandemic has been awful for so many...but opportunities arises out of hardship. I lost my job at DLA Piper - second biggest firm in the world - during the pandemic. Sucked, however, it did give me TIME. Time to read, time to think, time for many things I wouldn't have had on my normal robotic path as a corporate lawyer. I discovered the world of crypto during that time and now I'm hooked.

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