Technology
In previous episodes, I have discussed generalities about crypto, such as risks, terminology, and perspective. This episode I will offer narrative story about how Bubba Uses Defi. In this story, Bubba will start with dollars, then take a journey from fake crypto to real crypto on the Ethereum Network where Bubba acquires HEX and stakes it.
Part 1 covers the "on-ramping" process of going from Dollars at a bank, to buying stablecoins on a centralized exchange, to moving those stablecoins from the exchange to a personal wallet. Part 2 covers using a decentralized exchange to trade stablecoins for HEX, then staking the HEX.
My intent is to offer tangible details that allow any person to better understand and articulate one avenue to turn Dollars into Crypto with minimized reliance on centralized middlemen. This story is not a comprehensive description, and may include errors or inconsistencies. This story is not to encourage you to participate. If you are a no-coiner who has never participated in crypto, you will become aware of costs and technical nuances that no-coiners don’t know to research ahead of time. Historically, most people in crypto have learned by experience and lost money as part of the learning process.
Please listen to my first four episodes on risk, downsides, and disclaimers, if you have not already. Those first episodes on Crypto-Negatives are meant to anchor my more Crypto-Positive content. I consider this episode Crypto-Postive.
This podcast IS for fans of cryptocurrency who want to learn more or better articulate what they know. This podcast IS NOT financial advice or trading advice!
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