Bounding into DeFi: Month 01:
While ETFs are a great way to build wealth, with the downturn in the stock market investors are looking for less risky ways to earn interest on their money. There was a time that saving was the best way to build wealth time. With interest rates at all lows, that is no longer the case. The highest rate as of March 2020 available is from BMO Harris – 1.85% but you must have a $5,000 min balance. A better idea – DeFi platform investing saving through block fi but is it safe?
But what if there was another way to earn interest on your money? If you Hodl crypto why not receive interest on them?
The DeFi space gives you the opportunity to receive higher interest on the crypto you have. You can borrow crypto, as well as receive interest on your coin balances.
I will be testing out the Block FI platforms wealth management feature. Starting out with 2800 roughly, I will add $100 a month for a year and see what I end up with.
Here’s the break down on each coin and the current interest rate the charge for each crypto:
DeFi platform saving through block fi but is it safe? Follow me each month as I show my progress for a year in the DeFi – crypto space.
See you in April for next months progress.
Get started and earn up to 8.6% interest now!
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Note: This is not financial advise & is for edutainment purposes only. Securities trading\speculation involve a level of risk & Crypto investing\speculation is a highly volatile market place, please only invest money that you are comfortable losing. Remember to ALWAYS use stops