Happy Memorial Day Weekend, everyone!
I’m going to make today’s edition of the newsletter short. Here goes…
Learning How to Self Custody Your Digital Assets
I was taught about cryptocurrencies from a friend of mine who went through the 2017 bitcoin bull run. I wrote about this here. He isn’t quite considered an OG, as I’d say the OG title is reserved for those who were around before the 2013 bitcoin bull run, the first bitcoin bull run; however, he did custody his assets the old-school way, the way these assets were meant to be custodied - their keys stored either in a cold storage device or written on paper - and he taught me how to do so, as well.
I remember thinking about how incredible this phenomenon of people teaching one another how to custody the keys to their assets was. There was something about the this knowledge was being passed on that fascinated me, and I was grateful to my friend for his help.
Now, if you told me back then, back in January of 2018 when I first learned about this, that I’d be writing a piece on how to self-custody your ETH for NASDAQ’s website five years later, I would have laughed at you. But said piece got published this week, further confirming that the world is a strange place. You can read the piece here.
And if that piece wasn’t enough to prompt you to get your assets off of exchanges, please note the following Tweets:
I don’t think a major exchange like Coinbase is anywhere near facing bankruptcy, but I also didn’t think the $60b Terra (LUNA) ecosystem would disappear virtually overnight.
And, no, I don’t think Coinbase’s situation is the same as Terra’s, but I do advocate for being safe rather than sorry.
If you’re ready to move your assets off of exchanges, Google “How to move crypto to cold wallet” or “How to use Exodus Wallet” and multiple easy-to-follow instructional YouTube videos should pop up in your search results.
What Is “Unit Bias”?
Have you ever heard of this term? I hadn’t until I started investing. I wrote a piece on what it means here if you are interested in learning more.
Look, Ma, I’m a TikTok Star
I started teaching small investing lessons through Finder’s US TikTok page (@finderusa). Not totally sure if I’m totally comfortable in this role yet, but it’s been fun to make videos with a professional video producer. (Warning: The last line in the video below is cringey, but I was put on the spot to say something clever. Please forgive me.)
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And those are all of the words that I’m going to type today (except for the following ones).
Happy long weekend, Americans, and here’s to the many people who gave their lives to defend the ideals of America.
Best,
Frank
Twitter: @frankcorva
Currently Reading: The Road to Serfdom, by Friedrich Hayek; From Bars to Bitcoin, by Justin Rhedrick
Currently Listening To: I’ll let you guess
Great article and glad to see you’re doing what you want. Regarding Terra, it’s far from dead. It’s simply become a minor player. I’m just impressed that they’re listing the new coin already on Kraken. As for the wallet, also impressed how quickly they are integrating both chains.
Actually, I’m not giving the LUNA and the Terra ecosystem enough respect by saying it’s a minor player. It’s still doing well relative to its dismissive press.