Monday, 8 August 2022

Hodlnaut Message & Why I have earlier transferred my holdings to a cold wallet

Hi all, today is 8th August 2022, one day before our National day on 9th August 2022. Putting aside the celebrations, a Singapore-based platform that individuals can earn interest on their cryptocurrencies, Hodlnaut had halted withdrawals, token swaps and deposits immediately. They also previously had an in-principle approval (IPA) letter for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act) which now has been withdrawn. ‍

Amid news of various CeFi halting withdrawals and filing for bankruptcy or liquidated eg. Celsius, Voyager, BlockFi and many more, Hodlnaut has today announced that they are halting withdrawals, token swaps and deposits with immediate effect.

I did write about Hodlnaut in mid 2021, wow, it’s only a year back but it feels like a long time as news and movement in cryptocurrencies are so fast and rapid. I have seen several tweets about Hodlnaut having a huge position in LUNA/UST and they did also offer that on Hodlnaut. The twitter sources that showed their position in LUNA/UST came from Alex Svanevik, CEO of Nansen who is doxxed and Fatman whom have provided data and information on their findings.

Moving my cryptocurrency to Ledger

I did mention before that I have a Ledger as a cold wallet to allow me to transfer assets over if required. I got it in Jan 2021 and with all the recent news, I have transferred all my remaining BTC and ETH, sold all my LUNA into my Ledger nano S.

The whole crypto space has been advocating self-custody the last few months as we see companies like 3AC and certain exchanges face difficulty in returning the clients funds. Transferring the assets over is pretty simple and you just need to make sure you are using the right network and copy the correct address, of course not forgetting your seed phrase and passcode.

Hodlnaut does provide one free withdrawal per month and for me I just went ahead and transferred all my assets over even though I had to pay a fee as I wanted a peace of mind. I believe it is tough for those who had assets in these CeFi lenders and exchanges that have halted withdrawals.Especially so for users with substantial funds in them. It is like bad news cascading from the LUNA/UST crash.

FTX

I do some small DCA on FTX hence I do also hold some ETH and BTC there, but the amount is very small and I will transfer them to my ledger once it grows. There is a huge positive catalyst, the ETH merge coming up although there have been some debate on the move from PoW to PoS for ETH and some are saying there will be hard forks. I am not very well-versed in that and my main portfolio is still in stocks and ETF which I am constantly DCA-ing in. Do take care for all and wishing Singapore a happy 57th birthday!

You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link with FRIEND-7ZB4V7C will help me where Ledger will pay a small incentive that's not from you but from them)
► Where I Buy my Cryptocurrencies:
►FTX: https://ftx.com/#a=41877278
►FTX app: Use my referral code and get a free coin when you trade $10 worth. https://link.blockfolio.com/9dzp/u4qfrox2 
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61
►Syfe Trade Referral Code (get $10 cash credit): SRPSL8MGX

2 comments:

Saturday, 6 August 2022

What is Quiet Quitting? | Have you heard of it and are you doing it?

A few articles writing about quiet quitting has came out in my feed and I find it pretty interesting as we do see many new words that express different behaviours. I wrote about 躺平, a phenomenon happening in China and now quiet quitting comes up which is something some people are doing.

So let’s define quiet quitting:

  • Quiet Quitting is basically to show up at work and do the absolute bare minimum to get by.

Quiet quitting is very much the opposite of hustling which was pretty popular awhile back. Quiet quitting became popular partly due to the pandemic as the focus shift from working hard to having work-life balance and paying more attention to your well-being as people realise that jobs are no longer as secure and companies won’t treat you well if they have to cut cost.

Why Quiet Quitting?

Reading an article from Jerry Keszka titled, “What is Quiet Quitting?”, it mentioned that 2 reasons lead to the rise of quiet quitting with the first being to protest against the company as there might have been no recognition or benefits for working hard. The other reason is to manage their well-being and prevent burnout which was very prevalent during the pandemic outbreak as zoom calls were arranged out of office hours and the lines of personal and work hours were blurred as we work from home.

After the pandemic, the majority of workers realised the benefits of working from home and know that they were able benefit from it, as they spend lesser time commuting and having small talks physically, they realise that they can also try out different things and enrich themselves with the extra time saved. There were also individuals who realised that working so hard only benefitted the corporations and the overall compensation does not increase whether you hustled hard or just minimally did what you are required to.

Gen Z’s working style?

Not to pinpoint a certain generation but the Gen Z’s working environment and surroundings are very much affected by the pandemic, even their social patterns and activities are shaped by the pandemic as we saw TikTok rise and virtual events taking place more frequently as side gigs became a lot more popular.

Gen Z’s really had to embrace the new style of working as lessons and work went virtual and physical interactions were reduced, I think a huge proportions of onboarding and orientations were virtual and Gen Z’s realised that work can be remote and there really is not a need to be physically in the office from 9-5 as what it was like previously. So if I am able to do what I need to do within a lesser time span, the rest of the hours, I can do my own stuff and not be stuck in the office waiting or doing more than what is needed.

There is a lot of emphasis on having something else besides work in your life, our parents focus was very much on income and loyalty to the company as there were many who needed the income. Millennials and Gen Z are able to not rely extensively on income as lesser individuals are having kids and also choose to stay with their parents so they can afford to chase what they are interested in rather than work for money.

There are many different work arrangements nowadays from remote to work-flex to office and I have to admit that the pandemic have shifted a lot of mindset that work needs to be done from 9-5. Although many companies still prefer their employees to be in office as we can see companies try to get their employees in after the pandemic but remote working proves to be a huge factor as many are willing to even take a paycut to work remotely. Whether the companies can retain the talent really depends on how they take on the requests and demands.

Quiet quitting arise due to the fact that many could see some companies making money during the pandemic but not treating the employees with empathy and instead take advantage of the pandemic, of course, this applied to only certain companies but individuals realised that working so hard for the corporations was not beneficial and instead they should focus on their well-being and individual skillset. What are your thoughts on quiet quitting?

References: https://how-to-live.de/en/what-is-quiet-quitting/

You can also find me on

► How I Protect My Bitcoin using Ledger: Get your ledger from HERE (Using my affiliate link with FRIEND-7ZB4V7C will help me where Ledger will pay a small incentive that's not from you but from them)
► How I earn interest on my Cryptocurrency (Hodlnaut): https://app.hodlnaut.com/signup?r=_JF037Nb0 Get USD30 equivalent for your initial deposit of at least USD1000 on any of the supported asset by using my referral link
► Where I Buy my Cryptocurrencies:
►FTX: https://ftx.com/#a=41877278
►FTX app: Use my referral code and get a free coin when you trade $10 worth. https://link.blockfolio.com/9dzp/u4qfrox2 
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up for Crypto.com and we both get $25 USD :)
► Where I buy my stocks
FSMone Referral: P0364886
Tiger Brokers (Free stock and commission free trades, check out more here
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61
►Syfe Trade Referral Code (get $10 cash credit): SRPSL8MGX

No comments:
Subscribe to: Posts (Atom)