I’m old (according to Reddit) so here’s some advice from an old person.
<!-- SC_OFF --><div class="md"><p>I’ve been in crypto since 2016, HODLing and stacking here and there. I don’t understand crypto and don’t want to understand it, it’s a gamble for me and a small % of my portfolio that I hope to exchange for a large amount of FIAT someday. As of lately it’s looking as a nice tax write off.</p> <p>Tip 1 - there’s no wash sale rule in crypto. Sell your crypto at a loss and buy it back (I waited a day before buying back). A lot of us here can claim the max 3000$ loss.</p> <p>Tip 2 - Over the last year, I’ve noticed a lot of platforms (now failing) like the most recent Genesis, Celsius, FTX, etc offered ridiculous APY%’s that I’ve been calling out as a scam for years. I usually get called a boomer for saying this. Anyways as you’ve all figured out there’s no such thing as free money.</p> <p>If you want to park your money somewhere for a high % return, check out a high yield savings account like ally bank (or nerd wallet for other suggestions). I just moved my savings to discover bank at 3%</p> <p>Yes I’m being a dick. I want to stop the spread of people thinking they can get 20% returns for parking their shitty altcoins somewhere. I hate this shit. You ruined the legitimacy of crypto all your scams that you got rugpulled by, a fat guy banging his ugly gf.</p> <p>I’m also an idiot for not cashing out in January of 2018 and now again last year.</p> <p>Edit - bring on the downvotes. You all got what you deserved.</p> </div><!-- SC_ON --> &#32; submitted by &#32; <a href="https://www.reddit.com/user/Fullscan19"> /u/Fullscan19 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/z1t26w/im_old_according_to_reddit_so_heres_some_advice/">[link]</a></span> &#32; <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/z1t26w/im_old_according_to_reddit_so_heres_some_advice/">[comments]</a></span>
