You don’t always need stablecoins to get a good return
Generally speaking,a bank account that you keep cash in has poor interest rates. Most people will convert that cash to stablecoins to get decent returns that beat inflation while they are holding money for whatever reason. There is however another way
APY of 9-25%
Yes that is correct. I use an app called outlet finance. Generally I receive a 9% APY. On occasion it has temporarily dropped to 6%, and on holidays such as Christmas and Thanksgiving,they upped the return to 25%. Outlet works much the same way as all DeFi. They put your money to work and reward you for keeping your money with them. Overall I am pretty pleased with Outlet. Once an ACH transfer is initiated from your traditional bank account, it takes about 3 days for your money to appear. Please note that when withdrawing your money,it can take 3-5 business days before you receive it back to your transfer account. They also offer a debit card but I personally don’t use it.
The reward is APY so it does compound. They have a savings calculator and a running total of how much interest you have earned,so you can watch your money grow in real time. Looking at the calculator,you can see that if you deposit 10k, after 1 year you will have $10,938.07. Not too shabby.
None of this should be considered financial advice. I’m just some guy who works hard for his money like you. If you enjoyed this article please feel free to tip. Also see my other referral links for various things
if you are interested in using this app then please use my referral link. Until next time!
Outlet referral link