An update on my experience with #STX Earning #BTC the easy way.

I have currently been using stacks on OkCoin since January of 2021 and it one of my initial delves into the Defi world. I wanted to discuss my experience and some of the good OkCoin is bring to the marketplace and some things I would love to see down the road in the ecosystem.

STX was listed on OkCoin back on January 21 for US buyers and has been a growing asset since. It also allows for staking to earn Bitcoin on it. The rate is variable but so far I have received a rate of around 17% if you calculate it on an annual basis. This is an amazing rate and much better than you could ever get at a bank. It is also able to be done in an exchange that covers dreaded gas fees and offers a level of security that is not there when working through some of the other ways Defi exists. I believe safety and communication and learning are essential to bringing new people into crypto and OkCoin is leading by example in these areas. You hear constant horror stories about rug pulls, platforms getting hacked, people losing money and it can be very disconcerting when trying to engage new users. Just type in metamask fraud and you will see why everyone is so obsessed with hardware wallets and the not your keys, not your cheese phrase. Here is just one link to a recent attack https://www.bleepingcomputer.com/news/security/metamask-phishing-steals-cryptocurrency-wallets-via-google-ads/#:~:text=Over%20the%20past%20week%2C%20users,victims%20through%20Google%20search%20ads.&text=The%20site%20offers%20an%20Ethereum,applications%20read%20from%20the%20blockchain. I’ve heard of many negative experiences with metamask as a hot wallet which I will not get into but based on this I would not recommend it unless you know what you are doing as there are many risks associated with it and I would highly recommend a hardware wallet to connect to anything and keep your coins safe if you want do Defi outside of exchanges.

Staking Stacks has been easy to do and I am awaiting the recent update and plan to add to my position for the 5 cycles when stacking opens back up. The few things I would love to see down the road is a way to auto stack as you go if you have recurring buys and perhaps greater rewards for longer-term stacking contracts. Of course, some of that is dependent on stacks but just some ideas.

Using Defi on OkCoin has been a great experience however and I hope they continue to add ways for people to get into safe Defi like AVAX and ChainLink staking, Perhaps some way to do pooled delegation with graph if they eventually add them to the exchange.

Thanks for reading and as always this is and should not be considered investment advice. This is just an opinion piece.

If you want to check out OkCoin feel free to use this link. https://www.okcoin.com/referral