Sirwin
Sirwin

BINANCE FUD: Philippines SEC banning Binance. What’s my strategy?

By supamaku | supamaku | 22 Jan 2024


Recently Philippines SEC announcing to ban Binance. I will not discuss any details about the announcement, I will just share my strategy as not a financial advice, but maybe it would be nice if they can get more information and know what to do.

For 2 years invested in crypto I am using Binance to:

  • send mining rewards when ETH is still GPU-mineable.
  • On-board/Off-board, buying the lows and selling high (Spot Trading and P2P trading from Binance to Gcash and vise versa)
  • Staking BNB and other crypto for passive earnings
  • Futures trading
  • HODL

I know it’s unsafe because not your keys, not your crypto but…

I started with small account (here in the Philippines, this small account is really not small for some, but for westerners and other country it is really small).

To be honest, I can afford a cold wallet, but again as I mentioned above, for small account, buying cold wallet is not practical and I’m one of the many that usually use Metamask, Trustwallet, and any other hot wallets that is free to use and Binance or any other centralized exchanges to HODL.

So here’s what I did:

I did some research..

  • crypto that can be transfer from Exchanges with low transaction fees for transferring, transacting, staking and claiming rewards.
  • for crypto that will earn yield passively while staking.
  • crypto that can earn passively while staking, and also with chance to get Airdrops (FREE MONEY)

So I created wallets such as Phantom, Solflare, Trustwallet, Metamask, Kepler, Leap Wallet and Komodo Wallet.

1. Phantom and Solflare : For Solana Ecosystems – Staking and earn speculate for airdrops (earned 10k php for testing JUP and also positioned to other projects with Airdrops)

2. Kepler and Leap wallet for Cosmos Ecosystems – Staking different tokens under Cosmos ecosystems and for same reason, earning while staking and just waiting for Airdrops.

3. Komodo Wallet for mining wallet (Yes, I’m still GPU, CPU and Cellphone Mining with different coins).

4. Trustwallet and Metamask for Ethereum ecosystem and Layer 2’s. I have allotted some of my remaining Ethereum to stake and play around with other L2

You can earn free money by participating and testing with 0 investment but please, you’ll notice that there are two different wallets for each ecosystem that I’m participating with staking and airdrops. Managing risk is very important so please lookout for potential scams, hack, fake airdrops, and any sort, using 1 main wallet for each, and 1 burner wallet to participate so always be careful.

I will not mention every project that I’m into, this is my risk that I’m going to take and I don’t want others to take my same risk and want them to do their own research.

So, for buying crypto even if Philippines SEC finally implemented to ban Binance, I’m already 98% out from Binance, I still have small funds there for Futures trading, have small amount of cash on Kucoin, also for Futures trading. I’m also trading Futures in some of Solana and Cosmos DEX’s so I’m all set.

There’s a way to buy crypto using Metamask Portfolio if you just want to buy and HODL.

For in dept tutorials on how to buy crypto with GCash using Metamask Portfolio, and other questions just follow me and I will create a tutorial in the future.

Diclaimer: This post is not a financial advice. Please do your own research and stay safe.

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supamaku
supamaku

Crypto and blockchain enthusiasts


supamaku
supamaku

I'm a Sneakerhead, Gshock enthusiast, animal lover with a slight cute aggression. Data Analyst by profession. Crypto enthusiast since November 2021, CPU miner since December 2021, GPU miner since January 2022. Now a trying-hard crypto blgger. :)

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