 Welcome digital asset news take a top stories and cryptocurrency digital assets and break amount of bite-sized pieces So today we've already talked about what's going on in the markets And everything is going great with that potential beat Bitcoin ETF and why I think you can go through what's going on With tether and the audit everything seems to check out and card down will be in a hundred percent decentralized So we already know what's going on there and I want to talk to you about what's going on with a New property that we actually picked up and how this relates to cryptocurrency as far as purchasing things with crypto and the things that I learned Over the last 48 hours kind of been a little bit of a rule of it So we are still me and my wife are still in Puerto Rico It is April 1st April Fool's Day. It is almost high noon PR time and this is the property that we picked up And it's in the it's in a great I think it's it's in a great area just looks a little bit run down These are things that we look for great areas run down properties need a little TLC But on the outside, it's it doesn't look so great from the inside. This looks pretty darn good it's already furnished everything else and What's great about it is that everything is new? paintings and The wall and the structures and how things are working about so it's actually a good a good placement The reason why why we picked it up is because it was really a no-brainer honestly This is actually already on Airbnb these are things that we look for we like to do short-term rentals and For us this just made total sense when we were coming to Puerto Rico We're looking at places to rent very hard to rent things here in Puerto Rico because there are so many people Either coming here looking to live or they were on spring break Or there's a lot of things going on where people are just moving over and you've seen it all Different even YouTube videos where people are moving out of America to Puerto Rico. Why is that? Well, it's because there's no capital gains tax and the personal tax only 4% There's some loopholes and and different criteria, which we'll go about in another video I'm gonna bring on a person who actually lives here and we'll tell you all about those stipulations but I just want to talk about This property and we picked it up. Like I said, it's a fantastic area. It looks really great It's already on Airbnb and it is book solid So for us, this was like, you know, where do we sign up? And it's amazing because like you can you can go in one section of town and it's you know A certain price and right across the street you could have triple quadruple dribble the price So we don't like to do that like to go for a little bit more Stable and things that are going but again if it's already rented. This is now an asset and not a liability. So What happened with this this property? Is that we were going to finance it through the bank? But right now the rates are so ridiculously low. Thank you, Fed We appreciate you and because of that people are buying up things left and right and when you have like a two percent two and a half percent interest rate even even for investment properties of three point seven five or three point two five whatever it is now Everybody's gonna want to get in these properties, especially this one. So To finance it here in Puerto Rico, it takes a little bit of time Some people say it'll take three months to finance and people say it takes eight months We're we were gonna go through the process But when we saw it then all of a sudden all the different offers started to roll in people like we want it for here we want it for there one for there and Here's a little quick tip and this happened to me when I was looking for property in Las Vegas If you really want a property and you have the ability just say I'll pay cash and that just trumps everything So you don't have to if you're a buyer you're like great. I get the cash right now I'll do that. So you don't have to wait three months to eight months There's not the paperwork in the background checks and everything else. It's just here you go so That's what we did because we didn't want to lose this property because again It's already rented and only makes sense and I think that the value is going to only go up There's a couple other factors that I don't want to discuss in this video It's a great problem. So The thing is though is that when you want to pay for cash first of all this channel It's a cryptocurrency champ, right? So when people are talking about like, oh, you know crypto is going to be the next everything and we're going to you know Use crypto to buy everything. Well, not today. It doesn't work like that yet So if you think that crypto is going to replace the US dollar anytime soon, it's not it's going to take a very long time I think now what is a very long time? It's up for you to decide. I'm seeing years and years and years for that to actually happen So when we want offer cash, you need to be liquid and I know people would always, you know Talk to me about like, well, why do you have some cash on hand? Well, because cash is still king and I hate to say it. That's what it is So in another video, I talked about how I don't have much cash on hand because I'm like, why would I have you know? Cash on hand when I get his foot into crypto and change it over which I did for the majority So in this one, I was caught a little short honestly, and I was like shoot I got a you know liquidate some things so I can get actual cash But before that happened, I had the agent go to the seller and I said ask them to take Bitcoin Because for Bitcoin, first of all, everybody knows about Bitcoin. Most people I thought if I can just do a transfer of Bitcoin That would be fantastic So they went to the seller said hey, we have a buyer who would like to pay you in Bitcoin Just give us your hot address. He's like, I don't know what you're talking about So again, we are still early if you don't think we're early I mean this would have been a slam dunk for everything because to go through the banks Now you have to go through a lot of different checks and a lot of different loops and you have to do a wire Transfers and there is cost associated with that which isn't much but still and it could take between, you know depending on a bank Hours two days. So why don't just do it with Bitcoin? Look, I can send Bitcoin to anyone anyone in the world Costing next to nothing and I need no permission to do so and also on top of that if this guy wouldn't take in Bitcoin We just said no to it would have appreciated probably at least double X this year. I mean if we're looking at 60,000 I think it's gonna 350,000. So whatever, but I think he needed the cash for something else. Okay So that's one thing I learned. I learned that you know People aren't gonna take cryptocurrency all over the place not yet. Anyhow, so that's a problem. I need cash now So, what do I do? Well, the thing is since I don't have I don't have the full amount in my bank account I need Some liquidity somewhere. So what do I do? Well, I didn't really want to sell my Bitcoin because if I sell by Bitcoin right now first of all that is going to be a problem for capital gains tax So I want to pay on that Second of all, I believe that if I cash out on my Bitcoin, what's gonna happen? Well, it's probably gonna go up. I mean it could go down But I don't think it's gonna go like a major dip or are gonna go from like 60,000 to 20,000 So I was like, well, it's kind of that's not a great plan, but I did take a look at the places where I had it at and I had limits to what I could cash out on like on a Voyager was 25,000 with Coin, I don't have any Coinbase in here Celsius there was also a limit and then for Gemini, which is where I have some other stuff on there. There was a limit about the same So the so I said, well, shoot, I only have limits on each one of those What do I you know get this because I had some in my Business bank accounts because I have to keep that on the business one So I said, okay, well, I'm just gonna do an owner's draw and I take some money out But again, I was still short. So what do you do? So what I did was I just went on to Celsius went on my phone and I said, hey Celsius Why didn't say like that used you you click on Celsius ain't and there's a button that says It's a C on the bottom right hand corner and there's a button that says borrow now This is not available for every person who has Celsius is not available for even everybody in America I think Californians you can't even do that But Texas, hey, we can so great. So I clicked on that button and It was I've done this before we've done videos before about I took a small loan against Ethereum It was only like a thousand dollars and it was very smooth very easy and it was it was done like within an hour So and that was it. So what I did then is I just said, okay I want to collateralize X amount of a Bitcoin and I want you to sell send me dollars into my bank account And that's the other part that I needed to fund this project and what was great about it is That it was done. I put this in last night And I think my 10 p.m. 9 30 10 p.m. And then this morning a Celsius representative emailed me And I double-checked to make sure that the domain where the email came from was from Celsius network It came on over and said hey Rob We got to verify some things Do you have some of it like a utility bill or a bank statement that has your address? Sure sent that over and Within 30 minutes. I was approved for a sizable amount For the rest of the money that I needed to fund this This this property So when I'm looking at things, here's what I here's what I learned all in all and then I Will just say this Not all banks are created equal because in one of my bank accounts my other one of my business accounts for Wells Fargo That was where I was going to get the bulk of it and they said you have a $5,000 limit For 24 hours and a $6,000 limit Over 30 days so that was not going to fly whatsoever and there was no way around it So that was it. Thankfully USA is like we have no limits. We'll help you out and One's gonna go from there and it's gonna go to the company and should be no problem. So What I learned moving forward is this Even though we talked about a great cryptocurrency is cash is still king and you're gonna need it And it's like my friend CJ over that money for billing It's like, you know, somebody just need to dry powder on the sidelines to get into a position and in this position It was a investment property and it worked out pretty well Second thing I learned is that again people even though it works tremendously well You could I could have easily sent this guy Bitcoin and between There would have been some other advantages for that but didn't work out for the guy exceedingly trusted and it taught me that as Much as we talk about it not everybody's like us and that's just how it is The second thing I learned is that if you're gonna do a loan make sure the loans work for you So for this one this this loan that I'm gonna put into this property is gonna work for me And what was great about this is that we took For the amount of Bitcoin that I had to put up to get the 1% interest rate, which is fantastic I thought it would be You know once it drops to like because right now it's at 60,000 I thought maybe the drops like 45,000. I have to recolateralize, but I said no For us in Celsius to make sure that you have enough collateral if Bitcoin drops to 22,000 Then we'll ask for some additional collateral. I was like 20,000. That's not gonna happen And then they said and if it drops to 18,000 we will potentially liquidate but we'll notify you first I'm like, well, that's definitely not gonna happen. So when I talk about loans and then this is world This is for a one-year loan They did tell me that if you want to extend a loan that's no problem It'll just be 1% and again you have to depending on how much collateral you put in You can get a 1% 6% or 9% so you have to really collateralize these loans But again if this is the case for 1% To against my Bitcoin and that's Bitcoin today. What is Bitcoin gonna be in two months three months six months two years? three years five years I Mean you're using an asset to buy another asset that will make you more passive income And then you just take it out and that's the great thing So a couple of questions people always say is like well if I do that will I earn interest on my Bitcoin that I collateralized? No, you will not second thing is when the price of Bitcoin goes up Do I owe more in that Bitcoin? No, you will not you will just put the money you will just whatever your loan is amount for You just pay that amount and you get your your cryptocurrency back no matter if it goes way higher or not so again, I think this is a it's a win-win situation for me and them and That's kind of safe. So and the last thing I learned was this I think this is a lesson for everybody Even though I like I said like 25,000 a day. It seems like a lot right now for a lot of people But remember where you're at For cryptocurrency this could 2x would depending what cryptocurrency you're into this is not financial advice But I look at my portfolio. I'm like, I expect things to either Go between 2x and 30x So if you're in that same boat as me and you're like, well, I don't have that much. Well, yeah, that's true now But what's gonna happen in again? Three months five months eight months. You'll be surprised So this is just a cautionary tale for everybody if whatever Exchange you're using that if you want to cash out if you want to get loans make sure that you have You know all that thing taken in place if you want to cash out make sure that you ask them to raise your limits And what the requirements are make sure that you can buy more it's 25,000 Let's say you have a million dollars. How much how long is that going to take you the $25 dollars per day? So do these things now before they bite you in a and you got a lot of problems during your exit strategy All right, so that's it. So first of all if you got a little Value from this video go into the thumbs up that always helps the channel greatly also consider subscribing So I think you talk about our time sensitive and that is it for today. So thanks for watching. I appreciate it And I'll see you on the next