Growing Wealth With HEX Crypto with Eric

November 17, 2022

Expert CRE Secrets Podcast

Eric Van Dalen is a serial entrepreneur presently operating a small business in addition to being a commercial real estate agent with eXp. He got involved with cryptocurrencies in early 2021.

A small business owner in a very small town in Montana, Eric always found himself being creative and constantly coming up with ideas. He decided to pursue getting the products to market by licensing them to companies. Having both a creative and analytical mind, he used both to move through the licensing process with the help of his inventRight team. With hard work, effort, persistence and determination Eric was able to license his first product.

Watch the episode here:

Listen to the podcast here:

Growing Wealth With HEX Crypto with Eric

Brett:

I'm excited about our next guest. He's an expert in all things, crypto, HEX Crypto, H E X, and we're just gonna be chatting a little bit about that strategy and how to grow your wealth, with HEX, please welcome to the show with me, Eric. Eric, how are you doing?

Eric:

Doing? Well. Brent, how are you?

Brett:

I'm doing great. We had a chance to get together in Vegas for a real estate conference. We met in person and we had a kind of a little conversation going there. And we are so excited to have you here now on the podcast. For our listeners just get to know you for maybe the first time maybe tell us a little bit about your expertise and your experience with HEX crypto.

Eric:

HEX is our crypto is all new. It's been around since Bitcoin was launched about 12 years ago. I, however, I've been into Crypto since February, March of this year. I'm the new guy been into this cryptocurrency since about mid-August, but I've been studying it intently. I am certainly not a subject matter expert. I just know bits and pieces from other investors. That's how I put it together today.

Brett:

That sounds great. Then your background is like investment, real estate brokerage, investing, or maybe or residential real estate. Just give a little background to them and be helpful.

Eric:

I'm been in the off-market commercial real estate space for about two years.

Brett:

What's the biggest kept secret to the HEX cryptocurrency and to grow wealth with it?

Eric:

The biggest kept secret is staking. Can I just start from the top I've got my script ready to go? This is not financial advice, but welcome to the highest appreciating asset class in world history. Again, I'm a bit of a novice but I've put together some information that helped me be hopefully helpful to you. Why should you pay attention to this information? Because we're actually going to discuss on just one but two tokens and how you're going to receive a free copy of all of your ERC 20 tokens and content but you could potentially lose your Eth copy if you don't take action. So ERC 20 token is on the Ethereum Blockchain. And there's going to be a fork we'll get to that. So we're gonna start with HEX.

HEX is the first blockchain certificate of deposit. It was developed by Richard Hart. It was launched on December 2, 2019. It has had, unlike many other cryptocurrencies that have had two security audits and one economic audit. It's a finished product to a smart contract on the blockchain with a 100% uptime if Richard Hart died, today, HEX would go on. Let's get into some details. HEX is not a company I don't work for Richard. Now there are some differences between HEX and Bitcoin. Bitcoin uses proof of work which is very in energy-intense. HEX, on the other hand, uses proof of stake and we're gonna get into that. HEXus strength is and proof of stake. In Bitcoin, the miners are paid if you're familiar with Bitcoin, you understand that there's an intense mining industry and those miners are paid in Bitcoin. In HEX, the HEXicans the people that hold HEX are.

Brett:

HEXicans that's like the coolest thing I've ever heard before. So where are these HEXicans located?

Eric:

Telegram.

Brett:

Are these aliens? Are these like real people?

Eric:

They are real people. Guys like you and I Brett can be found there are 40,000 of them. 37,000 of them in telegram and they are raving fans of HEX.

Eric:

Strong community. You can follow them on telegram. So where was I here? Let's get it you know before we go any further Brett let's talk about security because this is all new this cryptocurrency is all new and people get scammed and lose their coins on occasion. So first off, you never, ever want to put your seed phrase in anything digital unless it's a cold wallet, don't type it into a keyboard. Don't take a picture of it with your phone.

Brett:

You said seed phrase, like you mean your passwords. Is that what you referring to?

Eric:

Correct your seed phrase. It'll be a 12 to 24-word phrase that you write down and you make copies of it. I put mine on stainless steel, I engrave with an engraver on stainless steel, make two copies. Scammers wherever that were there in the telegram group though, I will approach the weaklings as admin and try to give you get you to give them your seed phrase never do that. Otherwise, you're gonna lose all your crypto before you get into any kind of cryptocurrencies or recommend cleaning your computer if you know what I mean. You don't want to make sure that there's not, for example, a key logger on your computer because if you were to mess up, type or key, your seed phrase into the keyboard. You obviously can you lose your cryptocurrencies. HEX started at point 000056 of a penny rant today, it's at like point two, so it's like 20 cents. It was designed initially to overtake Bitcoin, and has already overtaken Ethereum by market cap, the coin reporting sites, how do I share my screen hit this little share screen? Let me know if you can see my screen, Brett.

Brett:

I probably won't be able to do that. But just tell us what the market cap is versus Bitcoin and Etherium that'd be good.

Eric:

If you go to CoinMarketCap.com, they rank all of the coins by market cap. Bitcoins, the big dog at the top, followed by Etherium. And then others, if you go all the way down to number 201, you're gonna find HEX, it's buried down in the bottom those sites, those sites are not truthful to this kind. HEX has an I think right now like a 20 to $40 billion market cap, it should be up there and like the for the top 10. But it's not. There are three things that separate HEX from other coins. Staking, which saves you from yourself, you can't stake Bitcoin, but you can stake HEX staking is where I say I'm going to take this bag of HEX and stake it out into the future and I'm not going to touch it. Number one to staking number two, when you stake your HEX is burned, it disappears.

In turn, you get what is called T shares, T Stand for Trillion. You get like if you stake 19,000 HEX you get one t share the t share is what earns you interest upwards of 40%. And when other people emerge, you can on stake, but then you pay a penalty, you lose all of your interest. depending on how far along you are in your stake, you lose principal, when people are emergency and stake all the stakers make gains off of that off of what other people's loss follow me it's distributed amongst evenly amongst all of the stakeholders. I was going to show you how to download it.

Brett:

I'm going to make sure I unpack some of this. It's sure you got that staking. If you stick it the HEX is burned. And then in terms of the T shares, T shares can earn 40% and you can't stake Bitcoin. I think that's the summary so far. So these are all ways to build wealth. What is there? Can you give us the what's what's the future for HEX? Take the investment out of it, but like what can potentially do? Well, give us what Bitcoin thing is going to do what's HEX is going to do, currency blockchain outcome for people like what's the utility of it?

Eric:

The big picture and again, I'm anonymous on the block but just from my recent experience familiar with Bitcoin since 2008, but just kind of watched it I know that there's a ton of big like, multi-billionaires that are involved in Bitcoin and heavily invested. I at one point was a Bitcoin maximal maximalist, that was kind of how I was driven. But I have pulled back from that. If you notice, if you've been watching Bitcoin, it peaked out at like 70,000, about three or four weeks ago, and it's been having a hard time staying in the upper 60s. I'm excited about Heck's it has done very well. We'll get into that later on. But it's the new kid on the block. If you look at the charts go with go to look into HEX. And you can see comparison charts. I'm comparing Bitcoin to HEX.

Brett:

I guess that there's an opportunity for growth and opportunity for building wealth, besides investing, though, but like, what is the utility of HEX in comparison to Bitcoin? What exactly? Why, what's the future of that? I think they said Etherium. My understanding again, I'm a novice on this to a theorem versus Bitcoin. It had a way to connect and help other coins and other Kryptos right, do use their utility, or something like a chain link, which had a way for helping to transfer in between like, so again, then you could say Bitcoin could be the currency of the future, potentially. Is HEX the currency of the future? What utility? Does it have like maybe like an Etherium, or chain link?

Growing Wealth With HEX Crypto: “When other people emerge, you can on stake, but then you pay a penalty, you lose all of your interest. depending on how far along you are in your stake, you lose principal.” – Eric van Dalen

Eric:

I would say if HEX has a utility, it's saving us from ourselves. I don't even know that. And I have a question in I put a question. I put tons of questions in the telegram group. I asked the other day, and I didn't get an answer. But like, because I heard that HEX is not necessarily a currency. It's I don't remember the term. But it's so as far as utility, I think it's just the staking. That's all you can do with HEX. I mean, you obviously I can send you some HEX. You could spend it, you could transfer it to any other token you wanted, or you could stick it yourself. So it seems like a currency but my understanding is it's it may not technically be a currency, but fact checks me on that.

Brett:

I'm a Commercial Real Estate Expert, Capital Gains Tax Deferral expert for Deferred Sales Trust expert, people. Everyone out there listening, not a crypto expert still learning about this stuff. I've dabbled in it invested in some of it. We have done some Deferred Sales Trust with crypto owners. Let's shift to Capital Gains Tax Deferral. Because we've done a Bitcoin deal. We've done an Etherium deal. Clients bought the coin, very low about 30 to 50,000 was for one of our clients and went to 50 million in Bitcoin. She never sold because of the capital gains tax until she met us and she transferred 5 million to defer it. She's starting a business with it. That's pretty cool. She's excited.

The second client, who had an Ethereum in Bitcoin kind of a mix, did very well went up to like 13 million put about 100,000 in and he sold about 5 million and another two and a half million, he's got seven and a half million deferred. Then we're working with some clients that have some Cardano, some XRP, some chain link, and a few handfuls of others. But let's talk about HEX’s ability to be exchanged on big exchange accounts. Is it trading on Coinbase? On Kraken on Binance? Where's it traded, and why? I guess it sounds like you're saying they're not traded on those big ones? That's correct. But why is it not on the big ones and kind of walk us through maybe how it can get there?

Eric:

Eventually, I think it will. It will be there and a lot of the guys in the group want it to be on coin base and such. But really, it is growing exponentially without being on those. It's growing incrementally without being on those exchanges. I don't think it's, you know, essential that it be there. I was going to show you like, one of the metrics bread that I look, at when I'm looking at HEX is not just the price. I mean, I like the price to go up. That's wonderful. But if you look at what the website was gonna show you hold on a second. You can go well just go and look into HEX and you can find all the links there. One of the links will show you the HEX daily stats that's what I was after HEX daily stats. What I really like is every day they give you all the information is pulled from the blockchain, about HEX the price, the penalties which happen every day, the total number of holders, this is what I like to look at every single day goes up. Today, yesterday it was 384,000 total holders, the number of stakers goes up every single day.

Brett:

Sounds good investment is a good opportunity to get in low I get all that so if someone were to sell and get hit with capital gains tax. Have you made it, do you feel like that's a challenge for people? They bought low and they are making hundreds of 1000s to millions of dollars to 10s of millions of dollars in HEX if they were to sell. Do you feel like they would like a solution to be able to sell high, defer the tax they move into other real estate deals or other business deals?

Eric:

That's what we talked about there briefly in Las Vegas.

Brett:

I want to see if I did a good job on that, on that, on that presentation. What did you know about the Deferred Sales Trust prior to Las Vegas, or did they do a presentation for eXp Commercial at the national meeting? We're both parts of EXP, by the way, we and so what was that? What was your feedback? Or what did you learn there?

Eric:

What I understood about the Deferred Sales Trust, Brett was that we can take, we can avoid the capital gains tax by taking earnings capital from real estate deals and putting it into a Deferred Sales Trust. Thereby buying some time, if you will, to thereby move that money into another real estate deal. That makes sense.

Brett:

That's pretty good. A few differences, not avoid is tougher. You can sell a highly appreciated cryptocurrency, business real estate, it doesn't really matter what asset is the primary home. And instead of taking all the cash up front, you can defer all the tax rates and you could slowly pay tax over the overtime. And then while the funds are sitting in the trust, they can be invested in real estate with no timing restriction, no 1031 guide deadline 1031. By the way, only works for investment, real estate doesn't work for primary homes or businesses or cryptocurrency sales, whereas the Deferred Sales Trust works for all of those in so that's a beautiful part about that.

You can also invest in other cryptocurrencies, too with a percentage of the funds as well. It doesn't have to be because some people are like, maybe I want to sell my HEX high or my Bitcoin high, or somebody ethereum in Bitcoin high and invest index at low, all the trust can do that with you, all tax-deferred, which is pretty neat. You can sell high buy low, and that's the whole idea, want to spur economic growth, by capturing the gains diversify, and you can't put all of your gains in into just one single asset class, you got to keep some diversification, some liquidity. There are some parameters there that we'll walk you through. By the way, if anyone is wanting to know how to do all this, you can go to CapitalGainsTaxSolutions.com That's CapitalGainsTaxSolutions.com, you can register for our free mastermind.

In fact, it's the Deferred Sales Trust University Mastermind. We call it the Crypto DST Mastermind we're focusing on this exact topic on how to do that happens every Friday at 10 am Pacific Standard Time, 1 pm Eastern Time, you can bring your friend you can bring you your Hexicans, your Bitcoinians, your Ethereumians and your CPA, everybody to learn about the Deferred Sales Trust so that if and when you're sitting around the Thanksgiving table, and someone says, I bought HEX a year ago and you wouldn't believe it 100,000 turned into a million dollars but I don't want to do again. give you that option to defer the tax and feel confident about that again, that is the CapitalGainsTaxSolutions.com. That being said, Mr. Eric, are you ready for the lightning round?

Eric:

I'm ready. This is felt like a lightning round.

Brett:

It has been right it's been fun. Here we go. Knowing what you know now if you could go back to your 25-year-old self, Eric. Besides buying HEX at an all-time lonely Bitcoin and all the time low. What's the one thing you tell yourself to do?

Eric:

Stay debt-free. And don't go to college. Start a business.

Brett:

Nice. That's the kind of a hybrid Dave Ramsey model. Stay debt-free. Don't go to college. Start a business. I love it. That may be his way to that's cool. Next question. What's your favourite book that you recommend or gifted the most in the past year?

Eric:

I read a whopper the other day. It's titled When.

Brett:

Just win?

Eric:

WHEN (by Daniel H. Pink)

Brett:

Got it.

Eric:

Have you ever felt a little like, great in the morning and not so great in the afternoon?

Brett:

Sure.

Eric:

Everybody does. When.

Brett:

Guess who's the author? Because that's a pretty vague title.

Eric:

I don't know the author. He's new, he's a best seller.

Brett:

WHEN at first I thought you said like win I'm like, that's really it. This is the best book ever or the best book ever. But it's WHEN, and it's health and energy and stuff?

Eric:

Yes. Taking naps, restings.

Brett:

That's all we need to know. Question number three. What are you most curious about right now?

Eric:

Great question. I'm curious about let's stay on topic. I'm curious about where HEX is gonna be a year from now.

Brett:

Me too now.

Eric:

And Bitcoin.

Brett:

When are these HEXs gonna move? They're all gonna go to Puerto Rico. They're gonna be the HEX.

Eric:

Not with you though.

Brett:

It's like you don't have to go to Puerto Rico, you can stay in your places defer the tax. Next question, favourite leadership quote or theme that you strive to live by.

Eric:

I put a quote in my email every single day, week. This one's great. I love this week's quote. We're surrounded. That simplifies the problem. Chesty Puller, famous general.

Brett:

I like it, good. You add a new code every week. You're just you're getting new ones that inspire you.

Eric:

From books, and from people like you.

Brett:

Let me know when my quote comes in. Maybe it'll be the HEXs quote for the whole community over there. The last question, after all, your success as an investor, as a real estate professional as a HEXican as bother, I believe as well and husband and all that, how do you say centre near values? How do you stay encouraged to charge forward to reach new heights?

Eric:

How do I say stay centred while I'm a Christian? I love the Lord Jesus Christ. He centres me. What was the next question?

Brett:

How do you stay encouraged to charge to reach new heights after you've accomplished certain goals? Some people are like a compromise. How do you set that next level and keep going?

Eric:

Pain avoidance. That's it. I mean, does that work?

Brett:

Some people are in pain and pleasure. Those are the two main ones.

Eric:

Great motivators.

Brett:

Eric, I want to thank you for being on the show. Thank you for sharing and helping us understand the introduction of HEX. I would encourage you to keep learning keep growing, keep sharing more knowledge with more people and about cryptocurrency and I want to encourage our listeners to also learn about different cryptocurrencies and perhaps start investing and make sure you're protecting and you're doing in the right order in the right way and you're doing all those security tips that Eric mentioned. And so I want to also remind you guys and gals whoever's listening to go to CapitalGainsTaxSolutions.com and to Register for the Free Mastermind every Friday at 10 am Pacific Standard Time. And it's exciting because we have clients on there we have folks like Eric on there we have financial advisors CPAs commercial real estate investors, Luxury Realtors, you name it, people learn about the Deferred Sales Trust for the first time selling their assets and trying to make it very very simple. We are trying to make it very very simple and so is the community with the Deferred Sales Trust are going to go to CapitalGainsTaxSolutions.com to register and please rate review subscribe. If you're listening to this on eXpert CRE Secrets we see you out there as well know that we encourage you to learn learn more about all things brokerage and how to grow your business there. That's eXpertCRESecrets.com. Thanks, everybody for listening and we'll talk to you soon.