More Random Friday Financial Thoughts
You may or may not remember I wrote a post a while ago about trying to get rid of the PMI (Private Mortgage Insurance) on our house. It was a much more complex process than I had originally anticipated. I wrote a post about it and I just wanted to give an update.
The mortgage company was pretty insistent that they needed an appraisal of the house to make sure that we had in fact paid off 20% of the value of the house. After several failed attempts (i.e., the appraiser calling last minute because he didn't want to drive through a thunderstorm to get to the appointment that I left work early to be at), we finally had an appraisal. It was basically just him taking some pictures of our house and asking me some questions.
I would later find out from our friend who deals with this every day that he didn't really do a formal appraisal, it was more of a valuation of the property. Either way, we got news the other day that our PMI had in fact been dismissed.
In the grand scheme of things I am not sure how much this will impact us. I just like the idea that it isn't hanging over our head anymore. It's ~$45 per month that will not be going into their pockets and because we have been paying extra on our mortgage we were actually able to pay it off four years earlier than the projected date. I think that is pretty cool.
More exciting stuff happening in the world of WAX. In just the past 24 hours WAX has dropped some pretty major things on us and even though the price hasn't quite reacted to it, I am loving it.
In a Tweet at 3:30 AM my time this morning, Crypto.com announced that they are going to be selling WAXP on their exchange. With WAX being listed on Binance just a week or so ago I knew it was only going to be a matter of time before some of the other major crypto conduits followed suit.
I use crypto.com, but I personally find it a bit clunky and doing things within the app is not nearly as easy as Coinbase. Like Coinbase, crypto.com is also no stranger to fees and that is pretty annoying. In the end I still think this is good for the token which I still think is severely undervalued at ~$.36 right now.
Being honest, I am past the point of buying WAX, so as I think about it, this probably doesn't impact me from that aspect. I purchased most of my WAX at $.03 and the rest I earn by selling NFTs or passively via gaming. It's all profit at this point so the higher the price climbs the better.
I said there were two pieces of news and this is the second Tweet that dropped just about 18 hours ago. So they are going to build some interoperability with ETH and a bridge. That makes a lot of sense. For whatever reason ETH seems to be where them money is at when it comes to NFTs. Even though WAX processes more volume, transactions, and traffic per day of all the other NFT chains combined. It is pretty impressive how smoothly WAX works.
I think the majority of us know that just because there is a bridge that doesn't mean gas fees go away and I have a feeling unless they find a way around it this WAX/ETH bridge is still going to be too costly for the average user to take advantage of.
Despite that fact, I still think this announcement is good news for the token, chain, and NFT space as a whole. Plus the possibility of DeFi over on the WAX side of things.... sign me up!
Going back to the whole "cryptocurrency conduit" thing that I mentioned above. It has really been impressing on me a lot lately the need for more decentralized exchanges when it comes to crypto. There has been a lot of discussion about LUNA on the Leo Finance Discord server. Thinking it might be a good idea to snag a bit, I started doing some research about where to buy it.
First option: Binance. Okay, nope, not really an option given the fact that I live in the US and as we know Binance started cracking down on those accounts. Using a VPN isn't even a valid option now because they started re-establishing their KYC and account verification. Cross that one off the list.
Bitfinex was next so I tried to set up an account. Nope, not available to US customers. Okay, scratch that one too.
I checked out Coinbase and there was a LUNA there, but I think it was actually WLUNA which I am assuming is an ETH wrapped token. Since I try to avoid ETH like the plague, that one was off the table too...
At that point I just have up.
It shouldn't be this hard though. We really need some cross chain DEX offerings. Ones we can trust with a good deal of volume and liquidity. Is that so much to ask?
No lie, if you gave me the choice between jumping through all of these hoops to buy some crypto and getting hit in the crotch, I would probably pick the nut punch.
It needs to be easier and more accessible...
So there you go, my Random Financial Thoughts for this Friday.
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