08-17-2021, 01:18 AM
it is sad the average person is too afraid of cryptocurrency to even consider stable
<!-- SC_OFF --><div class="md"><p>I was on a personal finance reddit community, and someone was talking about "safe" ways to earn interest on their money. People were recommending GICs which paid less than 2.5% interest (these GICs were also associated with sketchy banks no one has heard of). </p> <p>I suggested they could look into stablecoin staking which is fairly similar to a GIC (you have counter-party risk on both, both are not 1 to 1 backed by dollars) with the major difference being the lack deposit insurance banks (typically) have, but with the upside of earning 6 - 12% interest.</p> <p>Basically staking stablecoins could earn the person the same amount of money with about 1/4th of the amount of capital locked in. </p> <p>Unfortunately everyone else thought that cryptocurrency was too volatile and scary and that the person was guaranteed lose all their money if they did this.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Hard_Cor"> /u/Hard_Cor </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p5nmg6/it_is_sad_the_average_person_is_too_afraid_of/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p5nmg6/it_is_sad_the_average_person_is_too_afraid_of/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I was on a personal finance reddit community, and someone was talking about "safe" ways to earn interest on their money. People were recommending GICs which paid less than 2.5% interest (these GICs were also associated with sketchy banks no one has heard of). </p> <p>I suggested they could look into stablecoin staking which is fairly similar to a GIC (you have counter-party risk on both, both are not 1 to 1 backed by dollars) with the major difference being the lack deposit insurance banks (typically) have, but with the upside of earning 6 - 12% interest.</p> <p>Basically staking stablecoins could earn the person the same amount of money with about 1/4th of the amount of capital locked in. </p> <p>Unfortunately everyone else thought that cryptocurrency was too volatile and scary and that the person was guaranteed lose all their money if they did this.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Hard_Cor"> /u/Hard_Cor </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p5nmg6/it_is_sad_the_average_person_is_too_afraid_of/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/p5nmg6/it_is_sad_the_average_person_is_too_afraid_of/">[comments]</a></span>Kind Regards R