I have noticed…
…a trend with the many initiates whom I guide safely into the crypto-space:
They are skeptics of most cryptocurrencies.
They worry about losing their money.
It is all too much jargon and new thinking
…And then they learn that 5-10% interest on USD-pegged stablecoins like DAI, USDT, UST, and many others is a reality.
Days or weeks after setting up Gemini or Nexo and their earnings begin to appear, they are believers and many return to go deeper into Bitcoin, Ethereum, and many others.
The much higher order technical innovation (which I liken to the early days of the internet and software startups) with projects like Ethereum and its Defi space, Polkadot, Cardano and more escape most speculators and newcomers, but are revisited in a fevered haste by these same individuals once the idea clicks and the potential is revealed.
Why A Crypto Bank?
The opportunity cost of earning a paltry 0.25% interest at the traditional bank combined with real inflation eroding consumer purchasing power are tremendous. Retirements, and even invested capital under the real rate of inflation is withering in real time as you read.
If you are not earning at least 6-10% per year on your money, the many hidden GOVERNMENT AND THIRD PARTY taxes are sucking the life from your future and your savings.
Crypto banks such as Nexo have been most speedy to innovate and stack in my portfolio. Most immediately, the industry needs a means of connecting the old traditional dinosaurs of banking with the new.
In the decade of disruption, expect this to continue; the bell is tolling for the institutions which refuse to acknowledge or accept the magnificence of decentralized finance or lean into the independent value exchange networks like Bitcoin. This is even more real than paper money, and a bustling industry.
To anyone doubting this changing paradigm, I encourage you to grab a roll of your highest quality Kodak film and snap a few pictures of this post. After all, there will certainly always be a place to develop the film, most probably next to a Blockbuster video.