The Office of the Comptroller of the Currency (OCC), a bureau within the U.S. Department of the Treasury tasked with regulating the country’s banks and thrift institutions, has published a public letter clarifying that national banks and savings associations can provide cryptocurrency custody services to clients. “In the letter published today, the OCC concludes that providing cryptocurrency custody services, including holding the unique cryptographic keys associated with cryptocurrency, is a modern form of traditional bank activities related to custody services,” according to an announcement from the bureau. “Crypto custody services may extend beyond passively holding ‘keys.’” Custody of cryptocurrency like bitcoin is entirely a matter of controlling the private keys associated with that cryptocurrency. As a purely digital entity, bitcoin is only accessible through … [Read More...]
Organize Credit Cards Physically Using Business Card Holders
A reader asked me how I keep track of so many credit cards, and I wasn’t sure what they meant. I track active credit card offers using online calendar reminders and a simple spreadsheet, but physically I keep them all in a business card organizer (if not in my wallet). I realized that I still had an old article published way back in 2007 about repurposing my old baseball card sleeves and a 3-ring binder. I’ve deleted that post since it’s very outdated and replaced it with this one, as I’ve actually used a business card holder for probably over a decade. Mine looks almost identical to this 4.6 star item or this smaller 4.7 star version on Amazon (both around $7): As a few… [Read More...]
MMB Household Money Flowchart (Money Map)
A reader asked me to complete a money map to help visualize how I manage our finances, as per this neat Money Map chain. I wasn’t sure exactly how much detail to add, but the flowchart below is a good representation of how I organize things mentally. Specifics like brokerage or bank choices may change a few years from now, but this overall structure probably won’t. Income sources. We receive income via business profits, W-2/contractor jobs, and our portfolio. A portion is automatically directly into 401k, HCFSA, DCFSA, and Solo 401k accounts. (We are not eligible for an HSA.) The dividend and interest income is a circular arrow because technically it is generated and then held in the brokerage account. One day, this … [Read More...]
BlockFi Promo: $250 USDC Bonus with $10,000 Deposit + 8.6% Interest
BlockFi is a cryptocurrency platform that both pays interest on deposits and earns interest via cryptocurrency-backed loans. Right now, they are offering an up to $250 USDC bonus for new clients that sign up and fund a new BlockFi account by September 25th. Here are the bonus tiers: Deposit $500 to $999, Get $25 USDC Bonus. Deposit $1,000 to $4,999, Get $50 USDC Bonus. Deposit $5,000 to $9,999, Get $100 USDC Bonus. Deposit $10,000+, Get $250 USDC Bonus. You must deposit by 9/25/2020 and hold until 12/14/2020, for a minimum holding period of just under 3 months. $50 earned on $1,000 held for 3 months is equivalent to 20% APY. $250 earned on $10,000 held for 3 months works out to 10% APY. The bonus is paid in USDC, which … [Read More...]
BlockFi Promo: $250 USDC Bonus with $10,000 Deposit
BlockFi is a cryptocurrency platform that both pays interest on deposits and earns interest via cryptocurrency-backed loans. Right now, they are offering an up to $250 USDC bonus for new clients that sign up and fund a new BlockFi account by September 25th. Here are the bonus tiers: Deposit $500 to $999, Get $25 USDC Bonus. Deposit $1,000 to $4,999, Get $50 USDC Bonus. Deposit $5,000 to $9,999, Get $100 USDC Bonus. Deposit $10,000+, Get $250 USDC Bonus. You must deposit by 9/25/2020 and hold until 12/14/2020, for a minimum holding period of just under 3 months. $50 earned on $1,000 held for 3 months is equivalent to 20% APY. $250 earned on $10,000 held for 3 months works out to 10% APY. The bonus is paid in USDC, which … [Read More...]