Mister Frug is Buying Crypto

So to start this isn't a recommendation or investment advice. It's just literally what I am doing right now, take it for what it is. And that is buying crypto, something I thought I would never do. As I have said before on the podcast, I don’t view buying and holding crypto as an investment. Although, a have warmed up a bit to the idea of having a small allocation in crypto assets. Perhaps this recent sell off is a bit of a warning against that.

So why am I buying now? Well, specifically, I am buying crypto on Sofi. As part of their rewards program I get 50 points (or 50 cents) for each crypto transaction each day (limited to one). The minimum to get this reward is $10.So I buy $10 bucks of crypto  each day, I cycle between 7. 








Why these 7? Well, they are just some of the coins offered on the app. I don’t have particularly strong options on where each of them are going, but that isn’t really important for my strategy.

As a Sofi ambassador I get all my non-credit card related points doubled. So really I get a dollar for each transaction. Now I think there is a fee or something built into Sofi’s spread, but I don't think it's 10 percent.  But in essence I pay $10, yet about $10 of crypto and then also get $1 in rewards. 

I don't really know how to evaluate the expected return on crypto, so in general I give it an expected return of zero. But since I'm getting a dollar just to buy it, it seems like an ok deal to me. Given the state of the market though, it seems likely that crypto will be higher again at some point in the future.  As of writing it seems to have worked, I started this perhaps 4 weeks ago and am mostly in the green.


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