Investments that yield good returns.

[Ishaya]

what kind of business yield good returns in your locality or neighbourhood or country? maybe the idea can be useful to someone somewhere else.

at one time i visited Coordinator just to spend time and relax,he is a fine brother and very approachable.at some point we got talking about possible good investments to go into.he has been feeling concerned about his business not yielding good returns and wants to try other ideas.Its been quite sometime we had this talk.

Im begining to think that i too can use some good investment ideas.

in another thread my attention was drawn to stocks(shares) and crytocurrency,i will like to understand more on these too,i have lots of questions on both.

 

[New World Explorer]

Some general points about crypto.

While digital currency might be easy to confuse for conventional electronic money, it is not the same; similarly, it is unlike conventional cash currencies because it cannot be physically owned and transferred between parties. Much of the murkiness of the legal standing of digital currency is due to the fact that the space has only recently become popular as compared with more traditional currency and payment systems. Below, we'll explore some of the emerging legal implications associated with investing in cryptocurrencies.

 

 

• As cryptocurrency investing has become pervasive, it has brought up a variety of legal implications and risks that savvy investors need to be aware of.
• In some countries, cryptocurrency is seen as currency, but in the U.S. it's seen as property and is therefore taxed as such. Investors in crypto will need to pay capital gains taxes regardless of where they bought the crypto.
• Bitcoin and other cryptocurrencies are decentralized and are therefore not backed by a central authority, which can be both a boon and a risk for investors.
• Businesses that accept crypto do not currently need to register or obtain a license to do so, but at some point, they might, including the right to operate in certain jurisdictions.
• Because of the decentralized nature of crypto, there is a greater risk of fraud; there is also the reality that investors who have been defrauded will not have the same legal recourse as traditional fraud victims.

• Fraud and Money Laundering

  There is a widespread belief that cryptocurrencies provide criminal organizations with a new means of committing fraud, money laundering, and a host of other financial crimes. This may not directly impact most cryptocurrency investors who do not intend to use this new technology to commit such crimes. However, investors who find themselves in the unfortunate position of being a victim of financial crime do not likely have the same legal options as traditional victims of fraud.

   

  This issue also relates to the decentralized status of digital currencies. When a cryptocurrency exchange is hacked and customers' holdings are stolen, for instance, there is frequently no standard practice for recovering the missing funds. Digital currency investors thus take on a certain amount of risk by purchasing and holding cryptocurrency assets.https://www.investopedia.com/tech/what-are-legal-risks-cryptocurrency-investors/

[New World Explorer]

Real risks:  

Cryptocurrency exchange MyCryptoWallet collapses, appoints liquidators

Melbourne-based cryptocurrency exchange MyCryptoWallet's chief executive, Jaryd Tyson Koenigsmann, appointed liquidators SV Partners on Friday December 3, according to ASIC documents.

MyCryptoWallet is the second cryptocurrency exchange to fail in two months. In October, Blockchain Global Limited collapsed, owing investors $21 million.Unlike banks there is no government guarantee for cryptocurrency exchanges.https://www.abc.net.au/news/2021-12-07/mycryptowallet-collapse-liquidation-jaryd-koenigsmann/100679200

[Dages]

Cryptos are a trap because the market is never closd and one could feel the urge to check it 24/7 to get on the good dip to make money.

That would affect their spirituality very hard

[Ishaya]

2 hours ago, New World Explorer said:

Real risks:  

Cryptocurrency exchange MyCryptoWallet collapses, appoints liquidators

Melbourne-based cryptocurrency exchange MyCryptoWallet's chief executive, Jaryd Tyson Koenigsmann, appointed liquidators SV Partners on Friday December 3, according to ASIC documents.

MyCryptoWallet is the second cryptocurrency exchange to fail in two months. In October, Blockchain Global Limited collapsed, owing investors $21 million.Unlike banks there is no government guarantee for cryptocurrency exchanges.https://www.abc.net.au/news/2021-12-07/mycryptowallet-collapse-liquidation-jaryd-koenigsmann/100679200

Since cryptocurrency is a novel idea of exchange,i can understand why we see these irregularies.

but like you noted,it is becoming pervasive ie spreading fast.

So one of my concerns is,is there a chance that as it gains acceptance,this means of trade can become more organized with sufficient legal provisions and government regulations to protect investors? what do you foresee about the future of cryptocurrency?

[Ishaya]

29 minutes ago, Dages said:

Cryptos are a trap because the market is never closd and one could feel the urge to check it 24/7 to get on the good dip to make money.

That would affect their spirituality very hard

It makes me wonder;who does the actual trade in crypto? is it the investor or the owners of the company? im thinking of it as in shares where you only contribute a capital but the managers run the business and give dividend to shareholders.

[Dages]

50 minutes ago, Ishaya said:

It makes me wonder;who does the actual trade in crypto? is it the investor or the owners of the company? im thinking of it as in shares where you only contribute a capital but the managers run the business and give dividend to shareholders.

These aren't share, they are like currencies. As if you were buying money from another country expecting its value to rise.

[computerwiz]

Wooooow....there's a lot of bias against crypto here.    And yet I was able to pay off my wife's car about 3 years early solely thanks to crypto!  Let's see if we can have a more balanced approach...

9 hours ago, New World Explorer said:

Some general points about crypto.

 

More like very specific fear on risks.  Let's talk about risk.

 

Yes crypto is risky.  So is driving a car (you can wreck).  So is going shopping (you could get mugged, shot).  So is eating a bag of lettuce (you can get listeria).

 

We are not risk adverse people.  Otherwise we wouldn't take our stand against worldly friends & family.  We wouldn't speak up against celebrations.  Etc. etc.

 

The point is...yes there are risks.  But we want to know the risks and how to mitigate them, if possible.  Just because something is risky, doesn't mean it should be avoided.

 

  

7 hours ago, Dages said:

Cryptos are a trap because the market is never closd and one could feel the urge to check it 24/7 to get on the good dip to make money.

That would affect their spirituality very hard

Again...there is truth in this.  However, let's take a more balanced approach.

 

Because once again, there are other things we can get absorbed in like that.  Ever heard of the internet?  It's available 24/7.  One can easily stay up until the wee hours of the morning, chatting on forums, doing endless research, or other less savory things.  But we're on the internet, right?  Oh and there's video games....you can play 24/7 online against others.  "Just one more game" can really eat up your time.

 

So yes, that's true.  That is indeed a danger of crypto as well.  However, just because that is a danger, doesn't mean it should be avoided completely.  Once again, we must be aware of the risk, and make sure we have the right mindset getting into it.

 

We don't all have to fill our free time with TV or video games.  Some of us might want to use our free time researching & making investments.  It's a legit use of time, and does not have to consume one.  As long as one is using his free time to do this.  Also...some people are retired (or can't work) and this is a good use of time.

 

 

 

Now that we got all the FUD (Fear, Uncertainty, Doubt...for those that don't know) out of the way, maybe we can help the brother with some advice.

 

First of all, being from Nigeria, I have no idea what is available to you.  I know in the United States, we can use a robo-investment service such as Wealthfront to easily invest in the stock market.  Don't need to spend any time at all...they invest for you.  Now I know for a fact that company doesn't offer services outside of the US.  But maybe y'all have something like that?  It would be a good start, since you leave investing in the hands of professionals.

 

As far as crypto is concerned, there's a lot of opportunity there.  There are many strategies, some of which don't take much time or effort from you.  And would not require you to stay glued to your screen.  One strategy is called DCA (Dollar Cost Averaging).  You select a set of coins (maybe 10 different ones) and choose to buy a little as $10/month per coin.  The price goes up and down, but with the DCA strategy, you will automatically be buying into dips.  Let the strategy do it's thing, and in 1-3 years, you should have a nice profit (as long as you picked popular coins or ones that have a good use-case).  

 

Speaking of....yes the coins are "currencies", but many have use cases.  For example, with BAT, you are paid to look at ads.  You can use the Brave browser and start getting crypto, just for allowing unobtrusive ads while browsing the web.  With ETH, you can create you own version of a reward coin, like Burger King is doing with the Whoppercoin in Russia (not sure how far that one went).  With any coin, you can make transactions with anyone around the world, no middleman needed.  Some say that makes it a prime target for illegal activity, but studies show the US dollar is still #1.  Besides, if you did some work for me, I couldn't pay you with PayPal.  They've blocked payments to Nigeria due to scams.  So how in the world could I pay you?  Well...crypto!  There's nothing stopping me there.  There's legit business to be done, but companies get in the way, like Paypal.  My wife couldn't pay someone for artwork they did for her, due to that.  Simply because of where they were from was too risky.  

 

We haven't even gotten into rules to follow when investing, or other strategies, or even other risks.  I could go on and on, but I'll let you read this first and then ask more specific questions.  

 

ONE IMPORTANT NOTE: I've been messing with crypto since 2013, actively trading both stock & crypto since 2016.  The markets work in cycles.  And right now is about the worst time to invest in either stocks or crypto.  The bull market for crypto is coming to a close and there's "bubbles" ready to pop.  However, now is a very good time to learn about it and prepare for buying into the bear market.

[computerwiz]

This is a recent article (August 27, 2021).  Looks like you might have to forget about crypto (for now) my brother...

 

My next suggestion would be to see if there are an robo-investment companies in Nigeria.  Personally speaking, the one I use here (Wealthfront) gets me, on average, about 12% yearly with my money.  It's a good, simple, non-time-consuming way to invest & increase your money.  Just make sure to do thorough research on whichever one you find (if y'all have any available) to make sure it's not a scam...

 

 

https://www.mondaq.com/nigeria/fin-tech/1105924/is-cryptocurrency-legal-in-nigeria-actions-towards-the-regulations-of-cryptocurrency-in-nigeria?type=popular

 

 

[New World Explorer]

Found interesting article to balance discussion: (there are pro-crypto comments, and also I think it's valid to bring up article about "dangers"  from FDS) 

 

When we put first “the kingdom and his righteousness,” Jehovah blesses our balanced efforts to obtain life’s necessities. (Matt. 6:33; Eph. 4:28) He does not want us to be falling asleep during meetings because of overwork or to be sitting in the Kingdom Hall worrying about money. Yet, many in the world around us believe that only by devoting themselves to making money can they have a secure future and take it easy later in life. They often push their children toward the same materialistic goal. Jesus showed that such thinking is unreasonable. (Read Luke 12:15-21.) This may remind us of Gehazi, who thought he could indulge his greed while still maintaining his good standing with Jehovah.—2 Ki. 5:20-27.
14 Certain eagles are reported to have drowned when they did not release from their talons a fish that was too heavy to carry off. Could something similar happen to a Christian? “I’m normally very thrifty,” explains an elder named Alex. “If I pour out a little too much shampoo, I put some back in the bottle.” Nevertheless, Alex got caught up in trading in the stock market, thinking he could soon quit his job and enter the pioneer service. He became ever more engrossed in studying various offerings and market reports. Using his savings and money borrowed from brokers, he bought stocks that analysts predicted would quickly rise in value. Instead, they dropped sharply. “I was determined to get my money back,” Alex relates. “I felt that if I just held on, the stocks would come back up.”
15 For months, Alex could think of little else. He found it difficult to focus on spiritual matters, and he lost sleep. But the stocks never rebounded. Alex lost his savings and had to sell his house. “I caused my family great pain,” he admits. But he learned an important lesson. “I now know that anyone who puts his trust in Satan’s system will be profoundly disappointed.” (Prov. 11:28) Indeed, resting our hope on our savings, investments, or ability to earn money in this system amounts to resting our hope on “the god of this system,” Satan. (2 Cor. 4:4; 1 Tim. 6:17) Alex has since simplified his life “for the sake of the good news.” He will tell you that doing so has made him and his family happier and has drawn them closer to Jehovah.—Read Mark 10:29, 30. W 13 1/15
 

[New World Explorer]

13 hours ago, Ishaya said:

what do you foresee about the future of cryptocurrency?

Crypto is not going to disappear, recently one Australian Bank is launching banking app in 2022 that would allow customers to buy and sell up to 10 crypto assets.

But since you're based in Nigeria different rules apply there. 

[Tortuga]

12 minutes ago, New World Explorer said:

Nevertheless, Alex got caught up in trading in the stock market, thinking he could soon quit his job and enter the pioneer service

That is definitely very risky and some people have looked at that risk and felt the stock market in general is too risky. To me, that thinking is like someone reading about the dangers of high speed race car driving and then deciding not to drive a car.

 

OTOH, some people have accepted the moderate risk of investing in the stock market, they are like the drivers that know there are road accidents, so they drive carefully and safely.

 

Some go one step further and hire financial advisors to manage their investments. They typically charge 1-1.5% of the total value but may save that much or more through wise investments. That is like the person that hires a professional driver that knows the shortest, safest route to their destination. Just sit back and enjoy the ride.

[computerwiz]

6 minutes ago, New World Explorer said:

money borrowed from brokers, he bought stocks that analysts predicted would quickly rise in value

There's the problem.  2 problems really

 

There's rules I follow for investing:

• Rule #1: NEVER GO ALL IN (keep funds on the side, buy in small chunks)
• Rule #2: NEVER EVER BUY ON LEVERAGE/MARGIN. When you see "Leverage" or "Margin", just say no!  (this rule would have helped out that brother!)
• Rule #3: Only use money you don't mind missing (preferably, from a paycheck.  Not your savings!) (this rule would have helped out that brother!)
• Rule #4: You never lose....until you sell. (unless they declared bankruptcy or have really devastating news)  (this rule MIGHT have helped out that brother!)
• Rule #5: Don't buy ICOs or IPOs.
• Rule #6: Don't put all your eggs in one basket!
• Rule #7: Do your own research!!  Don't just believe others...  (this rule would have helped out that brother!)

 

I don't want to dismiss the article.  It is absolutely valid.  However, keeping balance in mind, do you believe such issues could arise from throwing $20/month into investing/crypto to see how things work?  That brother mentioned there was not balanced.  And yes, it is absolutely a risk that one could get into that situation if they are not careful.

 

However, in my circumstances, I do not "overwork" to have money to do this (as is mentioned in the article).  I have never fallen asleep at a meeting.   And I certainly do not rest my hope in my savings/investments or this system of things.  It can go in an instant...just look at Mayfield, Kentucky.  I'm well aware of that.

 

But ask me how I spend my free time?  Or even better, ask me how I have so much time to have the knowledge to invest?  Yes, probably 95% of brothers/sisters should stay away from it.  My dad is one....I know what not to buy based on his choices.    But once again, we should be aware of the dangers, and take appropriate precautions.  The FDS has not told us "don't invest".  Just "here's what could happen...now be on guard".  Balance my friend...balance.  

 

 

[New World Explorer]

3 minutes ago, Tortuga said:

That is definitely very risky and some people have looked at that risk and felt the stock market in general is too risky. To me, that thinking is like someone reading about the dangers of high speed race car driving and then deciding not to drive a car.

 

OTOH, some people have accepted the moderate risk of investing in the stock market, they are like the drivers that know there are road accidents, so they drive carefully and safely.

 

Some go one step further and hire financial advisors to manage their investments. They typically charge 1-1.5% of the total value but may save that much or more through wise investments. That is like the person that hires a professional driver that knows the shortest, safest route to their destination. Just sit back and enjoy the ride.

I agree, but have decided to include that article just to "balance" the discussion, and need for caution.

I am not against investments at all. 

[computerwiz]

4 minutes ago, Tortuga said:

That is definitely very risky and some people have looked at that risk and felt the stock market in general is too risky. To me, that thinking is like someone reading about the dangers of high speed race car driving and then deciding not to drive a car.

 

OTOH, some people have accepted the moderate risk of investing in the stock market, they are like the drivers that know there are road accidents, so they drive carefully and safely.

 

Some go one step further and hire financial advisors to manage their investments. They typically charge 1-1.5% of the total value but may save that much or more through wise investments. That is like the person that hires a professional driver that knows the shortest, safest route to their destination. Just sit back and enjoy the ride.

Excellent illustration!!!!!  

[Ishaya]

2 hours ago, New World Explorer said:

Crypto is not going to disappear, recently one Australian Bank is launching banking app in 2022 that would allow customers to buy and sell up to 10 crypto assets.

But since you're based in Nigeria different rules apply there. 

Okay.

 I just think that  people are naturally reluctant to try something new, so they just want to stick to the conventional ways.thats the main challeng cryptocurrency is facing in Nigeria.although my wife told me one of her friend made so much purchase with  cryptocurrency  last year.

If you ask my opinion,i really haven't seen any danger that makes cryptocurrency different from conventional money.they are all money as long as they are acceptable means of exchange or purchase.so we just have to learn how to use the new one too.

 

even if someone doesnt want to invest it,he can simply keep his digital money safely until they wish to use it for any purchase which is the same as keeping conventional money in a bank account.

it even seem like by just keeping your digital money in your wallet,you can gain interest on it too just like keeping conventional money in a bank account.

Infact digital money makes global transaction much faster and easier than conventional money which has to pass through other parties thereby delaying transactions.

and i think the use of a secure public ledger engenders more trust in the system.

from the way i see things,since the Nigerian government havent banned cryptocurrency,it means they may consider adopting it in the future as an alternative means of purchase.

 

 

 

 

[computerwiz]

22 minutes ago, Ishaya said:

Okay.

 I just think that  people are naturally reluctant to try something new, so they just want to stick to the conventional ways.thats the main challeng cryptocurrency is facing in Nigeria.although my wife told me one of her friend made so much purchase with  cryptocurrency  last year.

If you ask my opinion,i really haven't seen any danger that makes cryptocurrency different from conventional money.they are all money as long as they are acceptable means of exchange or purchase.so we just have to learn how to use the new one too.

 

even if someone doesnt want to invest it,he can simply keep his digital money safely until they wish to use it for any purchase which is the same as keeping conventional money in a bank account.

it even seem like by just keeping your digital money in your wallet,you can gain interest on it too just like keeping conventional money in a bank account.

Infact digital money makes global transaction much faster and easier than conventional money which has to pass through other parties thereby delaying transactions.

and i think the use of a secure public ledger engenders more trust in the system.

from the way i see things,since the Nigerian government havent banned cryptocurrency,it means they may consider adopting it in the future as an alternative means of purchase.

 

 

 

 

 

What about that article that I found?  How can you purchase crypto if the banks in Nigeria don't allow it?  Or do you just have to use a bank outside the country?

[Ishaya]

7 hours ago, computerwiz said:

 

What about that article that I found?  How can you purchase crypto if the banks in Nigeria don't allow it?  Or do you just have to use a bank outside the country?

actually the article on the new CBN directive  appears to raise  concern on the future of crypto in Nigeria,but im seeing the issue in a different light.

If crypto is gaining popularity and approval in western countries,there is a great chance it will have a future here in Nigeria,because the Nigerian society is easily influenced by trends in western countries.

maybe the CBN is stalling its progress now to better understand how to provide effective regulations and safeguards.

what i intend to do now,is to understand how the cryto market works and then wait for the golden oppurtunity.

[Ishaya]

about specific questions.

 

 

>how Is the idea of crypto trade similar to forex trade?

 

>is buying and selling cryptocurrency strictly about transfer of its ownership.

or can i get fiat money instead of cryptocurrency when selling?

 

>how do i know the best time to sell my cryptocurrency to make good interest.?

this is easier to predict in forex trade but how easy is it to predict with the crypto market?

 

>what does cryptocurrency minning involve and how can i master it?

[Ishaya]

14 hours ago, New World Explorer said:

Found interesting article to balance discussion: (there are pro-crypto comments, and also I think it's valid to bring up article about "dangers"  from FDS) 

 

When we put first “the kingdom and his righteousness,” Jehovah blesses our balanced efforts to obtain life’s necessities. (Matt. 6:33; Eph. 4:28) He does not want us to be falling asleep during meetings because of overwork or to be sitting in the Kingdom Hall worrying about money. Yet, many in the world around us believe that only by devoting themselves to making money can they have a secure future and take it easy later in life. They often push their children toward the same materialistic goal. Jesus showed that such thinking is unreasonable. (Read Luke 12:15-21.) This may remind us of Gehazi, who thought he could indulge his greed while still maintaining his good standing with Jehovah.—2 Ki. 5:20-27.
14 Certain eagles are reported to have drowned when they did not release from their talons a fish that was too heavy to carry off. Could something similar happen to a Christian? “I’m normally very thrifty,” explains an elder named Alex. “If I pour out a little too much shampoo, I put some back in the bottle.” Nevertheless, Alex got caught up in trading in the stock market, thinking he could soon quit his job and enter the pioneer service. He became ever more engrossed in studying various offerings and market reports. Using his savings and money borrowed from brokers, he bought stocks that analysts predicted would quickly rise in value. Instead, they dropped sharply. “I was determined to get my money back,” Alex relates. “I felt that if I just held on, the stocks would come back up.”
15 For months, Alex could think of little else. He found it difficult to focus on spiritual matters, and he lost sleep. But the stocks never rebounded. Alex lost his savings and had to sell his house. “I caused my family great pain,” he admits. But he learned an important lesson. “I now know that anyone who puts his trust in Satan’s system will be profoundly disappointed.” (Prov. 11:28) Indeed, resting our hope on our savings, investments, or ability to earn money in this system amounts to resting our hope on “the god of this system,” Satan. (2 Cor. 4:4; 1 Tim. 6:17) Alex has since simplified his life “for the sake of the good news.” He will tell you that doing so has made him and his family happier and has drawn them closer to Jehovah.—Read Mark 10:29, 30. W 13 1/15
 

Thank you Bro Greg for this wonderful reminder  to watch against the Gehazi's appetite for money.

you know,it really worries me the way money has taken over control of everything,i mean you practically can't do anything without money.plus that,capitalism has remained a grossly overlooked crime in the history of humanity.capitalism is a well organized slavery.

 

I would wish the world was an impeccable communist and classless society.

 

 nobody likes the stress of looking for money.but what other choice do we have.we still live in the old world and we are not spared of its problems.

The money we wish for is meant to help us stay alive and serve  Jehovah faithfully.maybe Gehazi did not understand how these two relate.

 

[carlos]

I have no idea about investments. I also don't have much money to invest to be honest. I can only tell my experience in case it's useful for someone.

 

Someone close who is very enthusiastic of crypto convinced me to invest a small amount, just to see how they work. I bought 200 euro worth of four different crypto currencies. Some bitcoin, some ethereum, and two other minor ones. It's just an experiment. The results? The market is very volatile. Some days I could have sold with almost 100 percent profit. I didn't because with such a small amount, most of the profit would be lost between taxes and the commission the site charges. Had it been a bigger amount I could have made some good money. Other days their value goes down to nearly half of the money I invested. Since I don't need this money now, I think I will leave it there. Who knows, maybe one day there is one of those spectacular raises and I can sell with some good profit.

 

I don't think there's any other (legal) investment that produces that profitability. But it's like a rollercoaster. It's very easy to lose money too.

[well]

I have just started my stock journey since July, but far before that, I started with mutual fund... It's interesting to learn about investments, and yes, I agree with rules mentioned by @computerwiz Please use money that you are ready to lose, and start it with little amount... From my experience, earning money from stock is not as easy as it may seem, high yield high risk. It's fun, kind of playing game since I do a little fast trading, more on mid term trading. But, maybe not for every one... 

 

What have you found? @Ishaya

[computerwiz]

4 hours ago, Ishaya said:

>how Is the idea of crypto trade similar to forex trade?

There are a lot of similar tools for trading, though crypto has more freedom (you can use bots that trade for you).  Taxes are similar (at least here in the US).  Chart patterns play out similarly.  But that's about where the general similarities end.

 

Quote

>is buying and selling cryptocurrency strictly about transfer of its ownership.

or can i get fiat money instead of cryptocurrency when selling?

You can sell back into fiat.  There's many exchanges that don't have this feature though.  And when moving your coins between exchanges, you have to be aware of withdrawal fees.  There's ways to minimize the fees though.  Just be sure to check what fees an exchange has before joining one.

 

Quote

>how do i know the best time to sell my cryptocurrency to make good interest.?

this is easier to predict in forex trade but how easy is it to predict with the crypto market?

There's 3 situations: 1. When you're happy with the profit you got.  2. When the coin is setting new ATH records and it's a large-cap coin.  Small-cap coins can keep going way past ATHs.  3. When the charts are giving a clear signal to sell.

 

Personally I find it easy to predict.  But if you watch people on YouTube, they make it very complex.  And there's a lot of manipulation there.  And unlike the stock market, you don't have earnings reports that totally throw you for a loop.  The charts tend to be more reliable for coins.

 

Quote

>what does cryptocurrency minning involve and how can i master it?

Powerful & expensive hardware that will suck up energy & put wear and tear on your computer(s).  It's not worth looking into unless you have a ton of money to spend on a cluster of mining computers.  Profits are marginal (mining gets taxed as "income", the highest tax level), so it takes a lot upfront to really profit from mining.

 

There's a lot of coins that offer staking instead.  Where you "lock up" your coins for a period of time to earn interest.  It's quite nice....I have USDC (a stablecoin that doesn't change in value) in Voyager and I use it as if it were a savings account.  With Voyager, you don't have to lockup your coins...I can withdraw at any time.  And with Voyager, I get 9% APY on my USDC coin.

 

 

 

[Cushi]

21 hours ago, New World Explorer said:

Found interesting article to balance discussion: (there are pro-crypto comments, and also I think it's valid to bring up article about "dangers"  from FDS) 

 

When we put first “the kingdom and his righteousness,” Jehovah blesses our balanced efforts to obtain life’s necessities. (Matt. 6:33; Eph. 4:28) He does not want us to be falling asleep during meetings because of overwork or to be sitting in the Kingdom Hall worrying about money. Yet, many in the world around us believe that only by devoting themselves to making money can they have a secure future and take it easy later in life. They often push their children toward the same materialistic goal. Jesus showed that such thinking is unreasonable. (Read Luke 12:15-21.) This may remind us of Gehazi, who thought he could indulge his greed while still maintaining his good standing with Jehovah.—2 Ki. 5:20-27.
14 Certain eagles are reported to have drowned when they did not release from their talons a fish that was too heavy to carry off. Could something similar happen to a Christian? “I’m normally very thrifty,” explains an elder named Alex. “If I pour out a little too much shampoo, I put some back in the bottle.” Nevertheless, Alex got caught up in trading in the stock market, thinking he could soon quit his job and enter the pioneer service. He became ever more engrossed in studying various offerings and market reports. Using his savings and money borrowed from brokers, he bought stocks that analysts predicted would quickly rise in value. Instead, they dropped sharply. “I was determined to get my money back,” Alex relates. “I felt that if I just held on, the stocks would come back up.”
15 For months, Alex could think of little else. He found it difficult to focus on spiritual matters, and he lost sleep. But the stocks never rebounded. Alex lost his savings and had to sell his house. “I caused my family great pain,” he admits. But he learned an important lesson. “I now know that anyone who puts his trust in Satan’s system will be profoundly disappointed.” (Prov. 11:28) Indeed, resting our hope on our savings, investments, or ability to earn money in this system amounts to resting our hope on “the god of this system,” Satan. (2 Cor. 4:4; 1 Tim. 6:17) Alex has since simplified his life “for the sake of the good news.” He will tell you that doing so has made him and his family happier and has drawn them closer to Jehovah.—Read Mark 10:29, 30. W 13 1/15
 

I was just about to post this. I read this article a few days ago and remembered this experience. Thanks 🙂

[Ishaya]

On Fri Dec 31 2021 at 1:58 PM, ivy said:

What have you found? @Ishaya

Ive been on property investment for quite some time now (its family's business actually).I borrowed the idea from real estate investors.im mainly on lands and house rentals.im planing on increasing our housing units but it will be after i graduate med school since it is capital intensive.my area is experiencing a large inflow of people recently because of people coming into the fct to find better living condition.