In this episode, Daniel sits down with his friend Neil Haque to take a deep dive into DeFi and other crypto tools you can use to grow your money. We cover building a basic portfolio, the difference between Layer 1 and Layer 2 applications, what Decentralized Finance is and how to use it to get better returns in the market.
Connect with Neal Haque:
Instagram: rebelutionary _1
TIME STAMPS:
04:18 Intro to episode/Overview of topics
07:22 How did Neil go from studying architecture to embracing crypto and DeFi instead?
12:01 Decentralized finance (DeFi) - What the F is it exactly? Why DeFi is the answer to problems of traditional banking
15:50 Daniel explains how the central banking system ACTUALLY works and what does the Federal Reserve does. Banks are lending out 10x more than they hold in their vaults.
21:10 Does Neil consider the old banking system to be ”evil” or just outdated?
23:25 How does DeFi change the rules. Defi makes it possible to unbank yourself. Neil explains how the Celsius crypto platform works
28:35 Decentralized exchanges. Neil explains Uniswap and how to become a market maker on the platform
32:50 The problem with Robinhood locking up their service during the GameStop/AMC fiasco
37:15 How has Uniswap avoided shutting down due to insufficient liquidity? Automated marke making
38:41 Keep it simple: how to construct a crypto portfolio from zero. What tools does a beginner in crypto need?
43:30 How would Neil allocate 3000 dollars into a beginner’s crypto portfolio?
49:30 Difference between Layer 1 and Layer 2 crypto technologies
58:15 What is staking and how does it work? Daniel’s reaction to missing out on some alt-coin gains
01:23:50 Coinstats app
01:24:40 Closing thoughts/Where can be people learn more about Neil?
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The New Wave Workshop: December 17 & 18 via Zoom
If you're in this game for the long haul like me, I recommend you get skilled up and learn about the industry.
The New Wave Workshop is a great opportunity to do that. Keep reading below for details!
Stop sitting on the sidelines of the revolution.
Go deep on the fundamental changes and incredible opportunities happening in Web3.0, blockchain and crypto.
I highly recommend you attend The New Wave Workshop. What's that, you ask?
In a nutshell:
It's a 2-day workshop designed to teach you all the fundamentals of crypto, blockchain and web3 tech.
I'm bringing in several incredible instructors to share everything they know with you.
If you can't make it live, you'll get the recordings afterward.
It includes access to our private New Wave Discord community for you to ask questions and learn together.
Details:
Dates: Friday, December 17th and Saturday, December 18th
Times: 10am PST - 3pm PST (both days)
Location: ZOOM (link will be sent prior to start)
All live sessions will be recorded for you to watch later or if you can't make it
Tickets are $297
What we're going to cover:
Web3.0 and Blockchain technology: how to find your place on the new digital frontier
Cryptocurrency: the how's, why's and what's of investing (including step-by-step guidance)
NFTs: why they matter, what types of projects to look for and how to purchase them
DeFi: the philosophy and strategy behind becoming your own cryptobank
Much more
New Wave Entrepreneur Podcast EP015: How To Start Your Own Cryptobank