Leverage Your Assets
Starting off in crypto today means you should be prepared to learn decentralized financing. Even if you prefer to use a centralized account. You could use crypto dot com(cro), kucoin(knc), mexc(mc) for example of great centralized options. Or you can use Atomic wallet, Trust wallet, and Pancake swap for decentralized options. Find what works best for you before you start your journey. Housing your crypto assets in a centralized platform would mean you do not own your assets. If the platform is down for maintenance you would not have access to your assets. All exchanges and platforms need to do routine maintenance so expect this to happen a few times out of the year. Highly likely to happen during strong volatility in the market. On the good note most centralized exchanges offer some sort of protection for a certain amount. Might wanna look into that while choosing the best centralized option for you.
Taking advantage of decentralized platforms means you also take the risk of no protection. If you make a mistake here you can lose funds and never recover. It’s suggested to make small transactions before a large transaction just to make sure your networks communicate with one another. Defi allows u complete control of your assets and allow you to utilize your assets as collateral. You can leverage that collateral to earn more assets.
Simple strategies like this combine with consistency can be a great way to compound your portfolio without spending your assets. Imagine if bitcoin investors 4 years ago leverage their bitcoin instead of spending it at $4k.
How much more money would you have if you leverage your crypto instead of spend it? Even if you’re new to crypto I highly suggest you look into managing your own assets through Defi, but if you to just get started a centralized platform maybe best to begin with. It’s good to have a healthy balance of both as you grow into this community.
