What's your opinion of similar projects but on other chains like BSC or Polygon? The fees for all of the transactions on Ethereum mainnet, from bridging renBTC, to depositing on Compound or AAVE, to borrowing, to depositing again (i.e. liquidity pool), really add up...then when you want to go to withdraw it all again it's the same fees in reverse, brutal.
Hey Justin, I love your content! Thanks so much. What if I took my btc and went on a decentralized place like kukoin. Would swapping btc for wbtc be the same thing? I’d save a lot of money in gas. Thanks again though, love what your doing!
Way better returns on ethereum and matic than 6%. Also, you’ve got more control using decentralized platforms instead of Celsius/BlockFi which are centralized
I know you're not an accountant but I haven't been able to find out if converting btc to a wrapped btc is a taxable event in the US. Curious if you've seen any info?
According to cointracking it’s a taxable event. Wrapping requires a trade from one crypto to another. This likely makes this a very bad idea if you have been hodling a long twitter.com/coin_tracking/status/1405878161657810947?s=12
Yeah but your rewards are in Mir and also you have to chop your BTC in half essentially because you need same amount of UST as BTC value. Why not just hodl if we’re about to moooon! That’s a beautiful bear market tool tho imho if you want to have less exposure (ie sell into UST at “top” and mirror)
Love your videos, plz don't stop making these. Very valuable to greater crypto education
Thanks!
Amazing video, packed with valuable information. Thank you very much.
Great video. Just in time for me when I am thinking about best option for my BTC bag. Thx
Im trying to understand,i dont want to lose my btc but i want a yield while i wait,thank you very much for the video
Given apr for ren is only 0.46% on convex now, do you think it's still worth doing it? Of course you will get CVX. Thanks a lot Justin!
And how do you go from renBTC to wBTC ???
Great video, thank you, keep it up!
thanks for the info!
What's your opinion of similar projects but on other chains like BSC or Polygon? The fees for all of the transactions on Ethereum mainnet, from bridging renBTC, to depositing on Compound or AAVE, to borrowing, to depositing again (i.e. liquidity pool), really add up...then when you want to go to withdraw it all again it's the same fees in reverse, brutal.
Hey Justin, I love your content! Thanks so much. What if I took my btc and went on a decentralized place like kukoin. Would swapping btc for wbtc be the same thing? I’d save a lot of money in gas. Thanks again though, love what your doing!
Good stuff thanks Justin
why go through all this extra risk and fees when you can just deposit into CEL for 6% apy on your BTC?
Way better returns on ethereum and matic than 6%. Also, you’ve got more control using decentralized platforms instead of Celsius/BlockFi which are centralized
Bancor also not a bad option, you just need to stick it out for 100 days to avoid IL
ren!!!!!!!!!!!!!!!!!!
Genius
Is the best NFT project new right now
I'm super curious about the APY on renBTC/WBTC in Uni 3 with a very narrow range position. Did you look into this?
It’s low. The pool is in their lowest fee category
@@JustinBram Interesting! Thanks for replying Justin!
I know you're not an accountant but I haven't been able to find out if converting btc to a wrapped btc is a taxable event in the US. Curious if you've seen any info?
Could be considered a like-kind exchange.
www.investopedia.com/terms/l/like-kind_exchange.asp
According to cointracking it’s a taxable event. Wrapping requires a trade from one crypto to another. This likely makes this a very bad idea if you have been hodling a long twitter.com/coin_tracking/status/1405878161657810947?s=12
Mirror protocol has a mbitcoin and a LP for mbitcoin - ust with about 30% apy in mir. Is it too good to be legit?
Yeah but your rewards are in Mir and also you have to chop your BTC in half essentially because you need same amount of UST as BTC value. Why not just hodl if we’re about to moooon! That’s a beautiful bear market tool tho imho if you want to have less exposure (ie sell into UST at “top” and mirror)
do you recommend LPing WBTC/ETH?
if you don't mind the Impermanent loss, and if trading fees + rewards are good enough
Ren isn't "fully" decentralised.
thoughts on bancor? i think they're paying like 4% also how to i turn my btc into wbtc
You could swap renBTC into wBTC using any DEX like Curve.
@@hendrikw4104 how to turn btc into renbtc? is my best bet a decentralized exchange or can i "wrap it" into renbtc
Has anyone here tried Instadapp to get yield on Eth, WBtc and Usdt ??