Sirwin
Sirwin
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Crypto vs Banks: An Interesting Point of Comparison

By rah | rah | 27 Feb 2021


Most of you know that I have been hodling in staked StableCoin since about mid-January with just a few assets held elsewhere and I normally have two points of interest in my monthly progress

  • The first is the 27th of each month simply because this is when my bank so generously rewards me with my monthly (tax-free) interest.
  • The second is on the last day of the month - I know this month that this means tomorrow.

I have written before why banks are terrible institutions that don't really want your cash anymore because the are still living on the bailouts from a decade or so ago. So taxpayers paid to keep them afloat and they don't reward taxpayers who from a certain point of view could be called owners.

The system is wrong and they are committing daylight robbery.

Now here is the point of comparison.

Despite predominantly (but not totally) holding StableCoin (much of it on Celsius) and despite the correction of the last few days - or is it just a wobble time will tell? - in this month alone my portfolio has grown by a relatively modest, but inflation busting 5.48%. This figure may change by tomorrow and is slightly higher than what I reported on Noise:Cash a couple of hours ago.

AND I REPEAT THIS IS DESPITE MOST MY HOLDINGS BEING IN STABLECOIN

During the same period the bank rewarded me with a miserly £0.10 for the rolling month to month or a rate somewhere in the region of - wait for it...

0.00076712%

And that my friends is why crypto and why not the banks!

I_love_my_DAI_supercoin

Incidentally if you are interested I have referenced my original article about banks below. It is one of the first articles I shared so many of you may have missed it with the life circulation of a Publish0x article being about 24 hours.

Stay safe and stay well and enjoy your Sunday.

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rah
rah

I love reading and technology as well as history. I teach English and Business to professional clients as well as soft skills with a focus on communications. I am a big fan of both Sheffield Wednesday and Lincoln City Football clubs


rah
rah

Experienced Business Owner and Coach and Tutor who now trades in Crypto. It is proving to be an interesting journey with so much technical language involved. Follow me as I learn the trade (and how to trade). Made some howling mistakes to begin with, but still learning and will share what I learn as I learn it for the benefit of the community. - RAH

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