Algorand Rewards Lower Than BOE Base Rate
Algorand rewards has dropped significantly it is now lower than the Bank of England base rate. On coinbase it is now a pathetic 0.45 %. No wounder that trading activity is 57% sell at the time of writing.
According to coinbase "We anticipate that you will see more fluctuations during the transitionary period."
If the value of Algorand does increase I will be converting all my Algorand holding. I generally do not rush into things and being patient is generally the best option.
You can easily find an instant access ISA paying 0.70 % or a fixed term ISA paying upto 1.86 %. All fully covered by the financial service compensation scheme and the value in a cash ISA will be the same unlike cypto currencies and Algorand and completely risk free.
You could also receive a much higher rate of rewards with ETH 2, Tezos or fiet on Nexo.
I do like the appeal of staking rewards but, 0.45 % for a high risk investment simply is not worth it in my opinion.
