Talk of The Villages Florida - View Single Post - What would you invest in?
Thread: What would you invest in?
View Single Post
 
Old 02-22-2022, 10:36 AM
sowtime444 sowtime444 is offline
Member
Join Date: Mar 2021
Posts: 74
Thanks: 15
Thanked 39 Times in 28 Posts
Default Stablecoin Staking
TRIGGER WARNING: Crypto

If you buy some USDC (U.S. Dollar Coin) on crypto.com you can earn 6-12% per annum depending on how long you lock it up (0-3 months). USDC is a "stablecoin" so the price stays about $1 and is not volatile like most cryptocurrencies.

There are two different apps. Crypto.com DeFi Wallet (Non-custodial Wallet) is the version of the app where you hold custody of the keys. If you lost your keys e.g. written down on a piece of paper and stored in a text file on a USB stick - your money is gone. The Crypto.com App is a custodial wallet meaning your money is in the control of crypto.com.

They are not FDIC insured by are insured by Lloyd's.

There is a stablecoin called Tether (USDT) that is notoriously sketchy but USDC is different.

Note: I considered the above for my in-laws but haven't done it yet, because they don't need the extra income. Was going to help them buy a rental property but then prices went through the roof.