How do you find earning interest rates in crypto? Is it the right way to outperform the current inflation?
The old idea "making money with money" is in the crypto space I guess for 3-4 years already? The idea seems to be catching fire especially when we see a recession.
The uncertainty around this inflationary period—and what the Fed will do—has been reflected in the traditional financial markets. The S&P 500 and the Nasdaq 100 fell 10% and 16%, respectively, from their 52-week highs in December 2021. The ongoing crypto sell-off appears very much related to high rates of inflation and general decline.
If you’re a crypto investor already, then you probably have some red stuff in your portfolio. On the other hand, you may have some inactive stablecoins that are waiting for the right time. Many of you already know the answer. It is a great time to stake and earn interest while waiting for the right time to sell/buy more crypto! Make sure there are no lock-up periods.
On a personal level, I see value in cryptocurrency savings accounts since — let’s face it — there aren’t a lot of places to earn a 10%-20% yield on your savings right now. You could achieve that return with a cryptocurrency savings account, even with your stablecoins. Many of the best cryptocurrency savings accounts also come with some pretty attractive terms for their accounts. You can try Midas.Investments, or exchanges like Coinbase and Binance. Diversification here can also be an optimal solution!
What is your approach during uncertain market conditions? What platforms do you feel comfortable earning with?
Submitted January 31, 2022 at 02:54AM by MDiffenbakh
via reddit https://www.reddit.com/r/economy/comments/sgvtbi/how_do_you_find_earning_interest_rates_in_crypto/?utm_source=ifttt
Chet Wang 