Well i am basically Warren Buffet now.. or at least i feel like him.
I just invested $3.05 of left over crypto that was sitting in my binance wallet and now i earn 1 satoshi per day in cold hard interest!
Now 1 Satoshi is worth virtually nothing and i still have a bit of catching up to do with billionaire Warren Buffet.. but today i wanted to show off the power of blockchain technology - Anonymous, instant loans and investments available to anyone in the world.. starting with only a few dollars.
Now a few dollars might not be much to you.. but in some countries this is a daily wage.. and earning a small % on this daily wage could be a great investment for some.
For years investors had to go with big wall street companies or brokerage companies.. and it was virtually impossible to get a lenders license. Forgot about investing small amount of money, and forget about people in developing nations - you needed big money to invest.
Now with the power of blockchain technology, even the poorest people in the world can invest and build wealth through these type of financial services.. this is truly amazing and will change the world.
When i was in my Binance wallet, i noticed the little button next to some of my wallets called savings.
It then took me to this page, listing all of the different loans i could give out. On offer is bitcoin, ethereum classic, bitcoin cash, link, binance token and a number of other popular coins that you can lend.
I first tested this out with Ethereum classic, since i had about 0.35 ETC in my account that i couldn't do anything else with, it was too small of an amount to sell.
So i clicked on the subscribe button next to ETC.
Once i clicked submit this messaged popped up, confirming my subscription. The minimum amount for Ethereum classic is 0.10 - about $1.50 USD.. after i clicked confirm purchase that was it.. my money was lent out and i got my first payment within 24 hours.
Many exchanges are offering similar services, and most of this money is lent to traders for margin trading so it's a fairly safe investment. These types of systems have the potential to allow people in developing nations to build wealth and earn passive incomes that can only benefit themselves and everyone around them.
I would love to see more of these types of products and services, more businesses paying dividends and offering investors long term passive income.. this can create a massive ecosystem and job market around these decentralized money generating systems and allow people in poorer countries to take part in financial investments.. if even on a smaller scale.