I’m old (according to Reddit) so here’s some advice from an old person.

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.

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. (USA)

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.

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%

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.

I’m also an idiot for not cashing out in January of 2018 and now again last year.

Edit - bring on the downvotes. You all got what you deserved.

And of course obligatory - this is not financial advice.

Edit again - you should stash your emergency fund in the HYSA. The rest should be in index funds.