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Be Careful, Brewing CHAI Is A Hot Business!

By BenjaminV | derkryptograf | 6 Sep 2020


If you want to generate passive income with DAI take a look at Chai.money. Here is my experience with CHAI after one week. 

Brewing some DAI with CHAI is very easy. Just connect your Metamask wallet with chai.money and convert your DAI to CHAI. Why am I doing this, read my article "Earn DAI with CHAI - Your Cup Of Tea?"

Although, some of you night think, why making a smart contract on Chai.money when Coinbase offers a 2 % interest rate on DAI, too? Well, I would save DAI on Coinbase because it seems to be easier. But for German Coinbase wallet holders this is not possible. Therefore, Chai.money can be a good alternative.

After one week the CHAI token went on a rollercoaster ride. I converted DAI 33 DAI coins worth about 30 Euro to CHAI. As a precaution, I'm only experimenting with a small amount of money.  During the last week of August my CHAI increased impressively in value. Suddenly my CHAI was worth 50 Euro. But unfortunately value decreased to 28 Euro now. My theory is, that the value of CHAI correlates with ETH.

CHAI seems to be as volatile as many other cryptocurrencies. So be careful, brewing DAI with CHAI can get you burned. Or you can maximize your DAI with it. It seems to be a hot business. I'm not sure yet, if CHAI will become too hot for me.

 

How do you rate this article?


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BenjaminV
BenjaminV

I'm a journalist who mostly writes articles related to security policy. Blockchain, Cryptocurrency and Decentralized Finance are very new to me. I'm motivated to learn more about it.


derkryptograf
derkryptograf

Hi, Cryptocurrencies, Blockchain and DeFi are very new topics for me. I'm trying to learn more about it. I'm trying to learn more about Distributed Ledger Technology and how it can change our real life.

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