Crypto Tutorials With The Milk Road Public Wallet
The Milk Road Public Wallet
In August, 2023, Milk Road re-launched its public wallet. This is where we funded our own decentralized wallet, which we use to get our hands dirty on the blockchain.
And we report all of our findings back to our loyal Roaders. Our goal is to help readers learn how to invest in crypto, while walking them through the process step-by-step.
We want the public wallet to be a hands-on experience where readers can learn to navigate crypto themselves, as well as be aware of what to avoid. Check out the following resources to get started with crypto investing:
| Crypto Tutorials | What You’ll Learn |
|---|---|
| The Milk Road Public Wallet | How to create a wallet with MetaMask and set up cold storage with Trezor |
| Funding A Crypto Wallet | How to convert fiat currency into cryptocurrency |
| How To Swap Tokens On A Dex | Learn how to swap on a decentralized exchange |
| How To Stake ETH | Learn how to stake ETH on LIDO and MetaMask Portfolio to earn crypto yields |
| Diving Into LSD-Fi | What are liquid staking derivatives |
| Bridging Ethereum | How to bridge ETH on various blockchains |
| Staking Ethereum | Restaking on EigenLayer |
| Borrowing and Lending | How to borrow and lend assets on the blockchain |
| Providing Crypto Liquidity | How to provide liquidity on different protocols |
Investing In Crypto
Investing in crypto involves putting your time and/or money towards the future of the industry. While buying crypto assets is the most direct way to invest, there are also ways to get exposure through the stock market or by investing in the infrastructure that powers crypto.
Why Invest In Crypto?
Many people feel that crypto has the ability to revolutionize our daily lives by removing intermediaries and creating a peer-to-peer financial system.
Other people may see assets like Bitcoin as a store of value, and something that could replace Gold in an increasingly digital age.
Whatever your view may be, here is why investors are excited about this space:
- Diversification: It is always important to diversify your portfolio. Crypto assets have been uncorrelated to almost every asset class in 2023 and could offer a new wave of alternative investments to one’s portfolio.
- Decentralization: Today’s world depends on centralized intermediaries. We are required to ask permission for nearly every transaction. Crypto has the ability to put people back in charge of their finances, as well as their daily lives.
- Potential Gains: The returns crypto assets have brought certain investors in the past can not be ignored. If the industry continues to shape into the future of finance, it is hard to measure what the potential could be.
Earning Yield: Have you seen what banks are paying on savings? Crypto offers several ways to earn a yield, such as lending or staking. And the recent trend of protocols returning profit to token holders is just beginning.
Considerations
In addition to being riskier than most stocks and other asset classes, investing in crypto is unique for several reasons:
- While stocks grant ownership to a share of the underlying company, token holders are not guaranteed the same benefits.
- Tokens are valued in much different ways than stocks, and revenue being passed through to token holders is a relatively new concept.
- Tokens come with additional risks such as exploits, smart contract risk and unclear regulation.
- Instead of simply buying and holding, you can do a lot more with a token once you own it such as providing liquidity or staking.
Learning From The Milk Road Public Wallet
The Milk Road public wallet is the one-stop shop for people to get started with their crypto journey. And since we start with the basics of creating and funding a wallet, readers of any knowledge level can follow along.
For those who are more experienced, we also dive in head first into interesting and emerging protocols. But don’t worry, everything we do is broken down for readers step-by-step.
On top of this, we explain our reasoning for everything we do. We also educate readers on why they might want to follow in our footsteps, as well as things on the blockchain that should be avoided.
What We’ve Done So Far
We’ve accomplished a lot in our first month, which you can read all about here (need last to be published).
In short, we’ve:
- Created our MetaMask wallet, linked it with our Trezor cold storage device and funded it with $10,000.
- Purchased Ether and staked it with Lido Finance, while leaving some of our funds in stablecoins to utilize down the road.
- Took some of our staked Ether to Pendle Finance to trade yield and restaked another portion of it with EigenLayer.
- Bridged some of our ETH to three layer-2 blockchains: Arbitrum, Optimism and Base.
And we’re still only in the first inning. Follow our progress as we continue to try new things and attempt to grow our portfolio. We’ve also walked through how to use MetaMask Portfolio and how it differs from their traditional service offerings.
How To Follow The Milk Road Public Wallet
Every week we try something new in the public wallet. And every week, our readers are the first to hear about it.
We publish an educational public wallet guide each week and summarize our findings in a newsletter segment. If you missed any of our past guides, those can be found in the table at the top of this page.
Readers can also track our portfolio’s progress in real time through DeBank. For those unfamiliar with this site, we will be giving a full tour in the near future!
You see where this is going. Keep following the Milk Road to learn more.
How To Invest In Crypto
Much like Monday mornings, getting started is the hardest part. We get it, So, we’ve built a series of crypto 101 guides to help you get started in crypto in the safest way possible.
Then, we’ll put that crypto to work in decentralized finance (DeFi) applications to earn a yield. That yield means more crypto to invest in other projects or just to HODL.
What Does Investing In Crypto Mean?
Investing in crypto means placing your financial bet on the future of crypto — or specific projects or companies. Buying crypto is the most direct way to invest, but some ways to invest in crypto don’t involve owning any cryptocurrencies at all. For example, many see MicroStrategy stock as a crypto play because the software company holds over 150,000 Bitcoin. Yowsa.
- Crypto stocks: You can gain exposure to the crypto market through crypto stocks like Microstrategy (MSTR), Coinbase (COIN), or even Bitcoin miner stocks, like RIOT.
- Crypto ETFs: There are already several crypto exchange-traded funds (ETFs) that act like index funds for crypto companies. ETFs often (but not always) offer more diversification compared to buying individual stocks.
- Bitcoin and Ethereum ETFs: Several asset-specific ETFs loosely track the movements of top assets, like ETH and Bitcoin. Current options center on futures market trading, but big names like BlackRock and Fidelity have filed for approval for Bitcoin ETFs that will hold BTC rather than futures contracts.
- Crypto coins and tokens: Of course, the most direct way to invest in crypto is to buy cryptocurrencies like BTC or ETH – or any of the thousands of other coins and tokens.
Stocks and crypto ETFs often provide ancillary exposure, meaning that their price may be affected by a number of other factors that aren’t seen in the crypto market itself. The upside is that you can buy and sell them easily through a stock brokerage account.
Crypto coins and tokens take a bit more work. You’ll need to learn the ropes for crypto exchanges and crypto wallets, and how to do your own crypto research so you don’t bring home a bag full of magic beans like that guy Jack.
The upside? The industry is still very young, with sky-high possibilities if the conditions are right.
