I first heard about Bitcoin years ago while listening to the Trading Justice podcast. I was intrigued enough to try opening a Coinbase account but had issues linking my bank account so I abandoned the idea. I think at the time bitcoin prices were sub-$1,000.

Fast forward a few years and bitcoin futures get listed, bringing the digital currency one step closer to mass adoption. After prices imploded from $20k to $3k and then recovered all the way back to $20k, I reasoned that bitcoin was here to stay and decided to start investing in it. But I didn’t revisit Coinbase. Instead, I waited until it became available to trade through one of the brokerage firms I use, Tastyworks.

To reduce the otherworldly volatility, I decided to dollar cost average over time. The original plan was to put the same dollar amount in each month. I’ve since modified it and gotten more aggressive when I get a quality technical signal.

Since Tastyworks allows you to trade Ethereum, I’ve been accumulating that too.

Then, in April 2021, I came across the following article from Packy McCormick titled “Is BlockFi the Future of Finance?”

After reading it, I was definitely intrigued by BlockFi’s business model. The idea of both getting paid high interest via stable coins and other cryptocurrency holdings was too sexy to pass up. So I opened up a BlockFi account and took it for a test drive. Since the accounts aren’t FDIC insured, there’s definitely a greater degree of risk involved. I put enough money in to make it worthwhile, but not so much that if I lost it all, I’d jump off a cliff. The monthly interest has been juicy and consistent, so far at least. It does fluctuate – as does the rate paid on other crypto holdings.

When they launched their Bitcoin Rewards credit card, I also signed up for it and used it during the promotional period when the rewards were better than the card I usually use. At this point, it’s dropped back to 1.5% bitcoin back and I can get 2% back on my other cards so I don’t really use it as much. I do kind of feel like a boss carrying around the world’s first bitcoin credit card though, lol.

So far, I’ve liked everything about the experience using BlockFi. As for crypto investing, I’ll probably continue to invest small percentages of my portfolio into it. Sizing appropriately is the key to handling the volatility and not worrying too much about what happens if it blows up.

Do your own due diligence. I simply wanted to share what my experience has been so far and the avenues I’ve used to both learn and invest.

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