Yes, that's fine. I use Crypto.com and Coinbase. I consider them my on-ramp and off-ramp. Also, helps with tax time because they generate reports. However, I do use Koinly.io for actual taxes - this platform generates actual tax reports that you forward to your accountant. There is no fee to upload data from wallet addresses, but there is a fee to generate actual tax reports that show capital gains, losses, profit/loss, etc.

This article is just about why I don't understand why people would spend bitcoin when its value is forecasted by professional analysts to explode exponentially in value. That's like finding one of the most desirable and valuable objects on earth, and then giving it away in exchange for a chocolate bar.

Makes more sense, at least to me, to allow the valuable asset to generate some kind of reward, then spend the reward instead. In investing terms, spend the dividend, preserve the working capital, or don't whittle down the thing that' actually generating income! LOL

I edited my article with a warning about Binance, since they are being investigated in the US. But, I have been able to use BSC network, but just not to use Binance.US or Binance.com, and I don't send BSC token or BNB coin. I just sell everything to a stablecoin in MetaMask or PancakeSwap, and then send that stablecoin to crypto.com for spending or offloading as fiat to my actual brick-and-mortar bank.

In terms of safety for just PancakeSwap in general, yes, it's safe in my opinion. I have been yield farming for probably 4-5 years without any problems. I would not stray from major DEX's though, because it is those individual websites and platforms that promise huge gains - those are the ones that could be rug pulls. And I have lost thousands of dollars from some rug pulls or depreciating tokens. I don't even really do that any more. The only thing I'm willing to do in DeFi is yield farming.

Yield farming/staking has some risk in itself because of the volatility or wild swings in value of both the staking tokens and the reward tokens. So, sometimes if you try to cash out in a down swing, you could end up with a loss. That's why I recommend selling the reward token right away to lock in profits.

Hey, thank you for your question! I love engaging with my readers. There is one guy that always heckles me too, LOL. But he still "claps" for my articles, and supports my blog! :)

Kind regards,

Ryan