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Blockchain and Cryptocurrency are both simple ideas and incredibly sophisticated (read: complicated ones). However, I have found a simple way to make a strong return without having to guess the price of bitcoin or delegate your tokens. Enter:
You can deposit various stablecoins and earn 8% APR! Even better, it compounds daily, so you can quickly start enjoying the income stream. They are offering this rate on:
- USDC - USD Coin
- DAI - Multi-Collateral DAI
- TUSD - TrueUSD
- PAX - Paxos Standard Token
- USDT - Tether ERC20
They have a couple of great additional features. All stablecoins are guaranteed to be $1 USD, even though their actual prices do fluctuate. All of your stablecoins are put together into one account, so it's easy to see your total value and total earnings. Their assets are backed by $100m policy, which is as close to safe as crypto can really get.
There is a drawback with Nexo, it's not an exchange, so you can't buy/sell/convert cryptocurrency with them like Coinbase. With Coinbase, you can buy/sell USDC without additional fees so you can combine the two sites to earn 8% and easily convert to fiat (cash) money at your leisure.
Nexo also offers 30% on their very own Nexo token, but again, it's not an exchange so you have to go somewhere else to buy and sell. Personally, I haven't put any money into that arena. Maybe it's something I'll look at in the future.
What are your thoughts on Nexo?
Photo by David Shares on Unsplash