02-16-2022, 12:11 PM
This is why crypto will beat traditional finance
<!-- SC_OFF --><div class="md"><p>I got <a href="https://i.imgur.com/OesEipL.png">this</a> offer from American Express today. I could deposit $25,000 into a high yield savings account and get a $200 bonus (0.8% bonus). The high yield savings has a “new higher rate” is a 0.5% APY. It’s actually comical and I literally laughed out loud when I read the email. </p> <p>I don’t even have to think and I can deposit USDC, UST, or GUSD into Gemini and earn 8%, and just withdraw to my bank whenever I need it. Yes, there are horror stories about having trouble withdrawing, but by and large this rarely happens and if you dedicate an exchange to only deposit stable coins, the yield blows any other savings account out of the water. </p> <p>I can definitely see a day when savings accounts are dramatically reduced because of the huge advantages with stablecoins</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/002timmy"> /u/002timmy </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/stkpav/this_is_why_crypto_will_beat_traditional_finance/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/stkpav/this_is_why_crypto_will_beat_traditional_finance/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I got <a href="https://i.imgur.com/OesEipL.png">this</a> offer from American Express today. I could deposit $25,000 into a high yield savings account and get a $200 bonus (0.8% bonus). The high yield savings has a “new higher rate” is a 0.5% APY. It’s actually comical and I literally laughed out loud when I read the email. </p> <p>I don’t even have to think and I can deposit USDC, UST, or GUSD into Gemini and earn 8%, and just withdraw to my bank whenever I need it. Yes, there are horror stories about having trouble withdrawing, but by and large this rarely happens and if you dedicate an exchange to only deposit stable coins, the yield blows any other savings account out of the water. </p> <p>I can definitely see a day when savings accounts are dramatically reduced because of the huge advantages with stablecoins</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/002timmy"> /u/002timmy </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/stkpav/this_is_why_crypto_will_beat_traditional_finance/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/stkpav/this_is_why_crypto_will_beat_traditional_finance/">[comments]</a></span>Kind Regards R