Crypto Update

The story so far: Joined Brave Rewards in December, started with other Cryptocurrency in January. £10 initially put into Bitcoin via Coinbase using debit card, some sent to Bittrex, some sent to a home hosted wallet. Another £10 in Bitcoin via Coinbase via bank transfer to test fees, both the same (too much IMO). Trigger for the toe dipping being LBC (LBRY Credits) linked to the LBRY content hosing platform.

Since then, Brave Rewards became linked to Uphold, which now allows deposits in cash and trade to cryptocurrency with tiny fees, which I discovered with another £10 deposit. Current spend on Bitcoin: £30 with £2 lost in Coinbase fees, the £3 I sent to Bittrex locked away because the fee for transfer out is more than I have and a few pennies lost in transfer fees. LBC trade still awkward but there seem to be “instant exchanges” now available which will trade other currencies to LBC. No need to worry about that yes, I only use LBC for tipping other creators and publishing, and I’m not low on that currency yet.

Now for the figures. After all the playing I decided to centralise all with Uphold, because of its very low (and free for internal transactions) fees. I currently have £29.69 worth of Bitcoin and £24.12 worth of BAT. My LBC balance is 350.08 LBC worth £15.82.

So I have lost 31p in Bitcoin but as I’ve put no financial input into either BAT or LBC that’s a gain of £39.94! OK, it’s not going to fund retirement, but it’s relatively free money!

About £10 of that is down to 2 referrals to download, install and use the Brave Browser, the rest is just clicking away unobtrusive ads. Those who know me know my feelings on referrals so I don’t spam them. If I did I’d probably make a whole lot more, but as it is I’ll keep my referral link to the occasional blog post (the link is above – using it would make me happy ?). It’s not get rich quick, but that’s probably why it actually works.

LBRY is also worthwhile, not just due to LBC but because it’s less restricted than YouTube. They’ll still block dangerous content via their own clients (which is still on the blockchain so available through other clients anyone may wish to build) but won’t remove content just because the admin or some AI don’t like it.