So, I finally did it. I bought a few Solana coins for shits & giggles. It's been very unsettling to see the rally in crypto the last 48 hours. Looks like the CPI numbers have more effect than crypto exchanges going down. Value investors have to accept the fact that this COULD be the end of the bottom. On the other hand, there are still a lot of possible downward catalysts due to continuing contagion. That said, after watching too much green tonight, I threw in a little more capital to one of my brokers and bought up a bakers-dozen of Solana coins, and grabbed more Ethereum as well. Now here's the interesting part. I noticed earlier today, Ethereum staking rewards on many brokers is set at 4.15% Solana is still set on the previous 4.50% That's only 35-basis points difference between the two. Now I have to ask you, honestly. Is there any serious person who still thinks that the [failed] Ethereum-Killer Sol should be only that much of a difference, considering the much higher-risk? You should be getting junk-bond returns!
which brokers are you referring to? I don't know a single broker in crypto since everything is direct access to exchanges
Do you seriously mean to tell me that you haven't heard of Interactive Brokers or anyone else in that genre? Move to Canada, and use any of their brokers, from WealthSimple to BitBuy... You can buy your equity securities at the same time you stake your spot-crypto through the same platforms. It's becoming kind of standard here.
Interactivebrokers for crypto?? Dude, I don't want to pay 12 bps in commissions while I have to trade through their shit TWS or API. No thanks. IB trades and clears with PAXOS, so why would anybody want to add another middleman? Trade with PAXOS directly or onboard on their exchange (itBit) Direct access only and self custody for long term holdings. Not your keys, not your coins
I like their SHIT. IBKR also lets you ignore Paxos and just buy any Bitcoin/Ethereum ETFs, then short strangles on them and you're protected if the price goes ballistic.