Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto
Neosify - Buy, Stake & Earn Crypto

What to do with your earned DAI from Publish0x.

By MadMaxx | Psycho Crypto | 26 Apr 2020


It's already a known fact that we earn three major cryptocurrencies on this platform: BAT, DAI and LRC.

I have already covered what we can do with our earned BAT tokens. In this post, I would be covering what we can do with our DAI.

DAI is a US Dollar pegged stable coin. This means that its value remains within the range of $1, ± a few cents now and then.

And that feature comes with both advantages and disadvantages.

The obvious advantages being that the value of DAI you have in USD will never fall. Even during the March 12 crash, while all my crypto holdings tanked, DAI remained the same.

Of course, the obvious disadvantage is that now that the mini alt season is underway, the value of our DAI will still remain the same, and not appreciate with other cryptocurrencies.

But there are still ways to earn large interests on this coin.

As usual, I will divide the post into the risky, and less risky ways of multiplying our DAI.

Risky ways:

1. Trading 

It doesn't sound right. If the coin is stable, then why trade it,? It's value never changes!

And you're right. Except that we'd be using it as a base currency for other cryptocurrencies to trade against. 

So for instance, we might trade the BTC/DAI pair on KuCoin. This way, when we make a profit, our DAI balance goes up.

It is worth noting that trading is a rather risky endeavour, so proceed with caution and a lot of education.

2. Betting

You could bet your DAI tokens for massive returns if you win your bets. However, if you fail to win your bets, you could lose all your DAI. And we don't want that. 

So if you choose to use this step, proceed with extreme caution, and make sure you have tons of good karma built up.

Now on to the less risky ways

1. Use Compound to invest it.

DAI has an amazing 6.6% APR on the Compound interface. This interest is paid out every day, so you can cash it out whenever you so please.

You can access the Compound platform directly, but if you download the Trust wallet from here and access it through the Trust wallet, you get $10 worth of Trust Wallet Tokens! Even more money to invest!

Simply donate your DAI to be used in the borrowing pool, and watch the interests seep in.

That's my short post on what to do with your earned DAI! Thanks for reading.

Remember to claim your free TWT tokens by downloading the Trust wallet here!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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