I am a holdr, but the one thing you learn real quick with holding your stash is that you don't get interest from it. The value of your crypto really depends on whether the price of it goes up or down.
This is where the opportunity cost of crypto becomes an issue - you either hold and wait for it to increase in value, or sell it and do something productive with it.
Now I don't want to sell my crypto. I like my crypto.
That's why I'm so thrilled with all these new DeFi tools that have come about.
I think Decentralized Finance will bring hordes of people to the crypto space - specifically because you can put your crypto to work.
In the past I've put my crypto into lending platforms and it's done okay. However, I've never been truly comfortable putting in a substantial amount because I just can't bring myself to move lots of cash to a centralized platform.
Enter Tokensets. A decentralized platform that provides automated trading solutions.
It lets you put cash into a trading robot known as a Robo Set, and it does all the trading for you based on some simple trading strategies.
Last week I finally jumped in and took it for a run, and wow I have to admit I totally impressed. The User Journey on this is so sweet.
Inside of a few clicks I had my Tokenset up and running. The process is seamless.
This is what I did:
- I put in $25.70 worth of ETH on 22nd April 2020
- The 0.1413 ETH bought me 0.121 Sets
- I bought the ETH RSI 60/40 Crossover
- I think there was a transaction fee of $0.73
A week later this is what it looks like:
- The Tokenset Balance is $30.01
- The Tokenset is invested in wETH(Wrapped ETH) and USDC with all the cash being in wETH.
It appears that it went up by 16.8%. That is Good. I like it.
I've tested it out, so I think I'll continue using it.
Tokensets has many more options available including Social Trading Sets and copying Traders.
Given that my initial experience has been very positive I reckon I'll continue. Now I want to dive deeper into the technical aspects and understand what all the trading strategies mean.
I really hate finance stuff, but I honestly have to admit that the new DeFI Dapps are making finance very compelling.
It's an exciting time to be in crypto.