Coinbase Thesis part 1
Coinbase is the bridge between USD(paper currency)and crypto world.
I’m trying to set up my direct deposit so that I get paid in crypto. I love that coinbase has an option for this:
Coinbase now acts as a bank. Somewhere to hold my preferred use of ‘currency’.
Volatile USD, inflation and deflation, making it more and more unwise to hold cash.
My bank of america account holds everything in USD, inflation losing 8% every year and charging me $25 maintence fee ( $300 a year).
Meanwhile, I held $1000USD on FTX, a similar platform to coinbase, and I’ve earned $3.81. Expected APY 8%…. which is pretty insane considering SPY index:
FTX ACCOUNT
Other coins also pay some interest if you hold your cash in their coins.
But you can also stake — kind of like a CD account at a bank. You get a higher return but you can’t touch that money.
The pros of Direct Deposit on Coinbase
You can get paid in Dogecoin with no trading fee. Pretty Cray.
Can you really Trust this identity? Only time and consistency can earn trust of the people.
