There was a time that saving was the best way to biuld 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 Haris – 1.85% but you must have a $5,000 min balance.
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:
I will post twice month, so you can follow along on this journey.
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