Recent news from LEDGER hasn’t been exactly bad news rather it has been unpleasant news. Today though when checking my balances on Ledger Live a new feature popped up I have been waiting for! The ability to lend crypto from my Nano X!
Ledger chose Compound as their partner for this and that makes a lot of sense from a security point as Compound has been controversy clear. This will also allow me to pay the high fee once and for all to remove everything I have left in my COINBASE Wallet and get rid of it. Coinbase wallet for those who have not tried it somehow manages to have the most expensive and illogical transaction fees. While claiming they don’t take anything for themselves whoever mines their transactions gets a huge windfall. I hope Ledger further diversifies in the lending game but I am not sure they will as the idea is cold storage and untouchable assets but who know?!
For the US users the swap feature is still not able to be used on Ledger which is a bummer. I have assets I’d like to trade out on it but I can’t justify the extra gas fees to myself to transfer out exchange than transfer back in and then lend on Compound. With this wall still up I will just have to leave those assets as is for now.
In my house CNBC is often on due to my dad and I’d involvement in the stock market. For the first time I finally saw a Grayscale commercial. As a millennial they hit the nail on the head for me when discussing the reason for it. They talked about governments freely printing money and kicking all the issues associated with this down the road.
They also have over $10 billion USD in assets now with their recent Bitcoin purchase and the overall increase in asset values! This includes Bitcoin Cash having its hard fork and the issues it caused to the Bitcoin Cash price! Grayscale has also released survey data explaining that investors are now pouring into Bitcoin due to the economic situation caused by COVID and the different government responses to it. It will be interesting to see how all of this is affected with the new vaccine news coming out. The survey does show Bitcoins safe haven potential though and hopefully this will last long term.
I hope you have enjoyed this article and if you have not done the Coinbase Earn tasks yet it would be appreciated if you would use my referral codes below!
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