Chapter
Censorship Risks and Ways to Hold Crypto Safely
1:12:33 - 1:17:00 (04:27)
The risk of censorship is possible with crypto exchange accounts, however, crypto can also be held safely through hardware wallets or with large custodians like Coinbase or CoinList.
Clips
Coinbase startup efforts can lead to censorship risks if the government decides to target an account or if a peg breaks, leading to loss of money on the so-called stable coin.
1:12:33 - 1:13:49 (01:16)
Summary
Coinbase startup efforts can lead to censorship risks if the government decides to target an account or if a peg breaks, leading to loss of money on the so-called stable coin. Inherently volatile spaces require payment to create a reliable mythical stable currency.
ChapterCensorship Risks and Ways to Hold Crypto Safely
Episode#473: Naval Ravikant on Happiness, Reducing Anxiety, Crypto Stablecoins, and Crypto Strategy
PodcastThe Tim Ferriss Show
Naval Ravikant discusses two ways to invest in cryptocurrency: using a hardware wallet like Ledger or Trezor, or utilizing a large custodian company like CoinList.
1:13:49 - 1:15:55 (02:05)
Summary
Naval Ravikant discusses two ways to invest in cryptocurrency: using a hardware wallet like Ledger or Trezor, or utilizing a large custodian company like CoinList. This advice is for informational purposes only and is not intended as financial advice.
ChapterCensorship Risks and Ways to Hold Crypto Safely
Episode#473: Naval Ravikant on Happiness, Reducing Anxiety, Crypto Stablecoins, and Crypto Strategy
PodcastThe Tim Ferriss Show
The first step to investing in cryptocurrency is to educate yourself by reading and learning about different cryptocurrencies, such as Bitcoin or Ethereum, and the high-level concepts in the crypto space.
1:15:55 - 1:17:00 (01:05)
Summary
The first step to investing in cryptocurrency is to educate yourself by reading and learning about different cryptocurrencies, such as Bitcoin or Ethereum, and the high-level concepts in the crypto space. Decide how much exposure you want and find a custodian, then store it somewhere safe, such as the cloud or offline schemes.