Hello and thank you for reading. It has been a while since I have really written anything but I have come across something not very new but really exciting.
Some of you might not know what stable coins are so I will give you a very quick intro to stable coins. A stable coin is a type of cryptocurrency that is designed to have a stable price, or a price that is pegged to a specific fiat currency.
Some examples are Tether or USDT, DAI, USD Coin or USDC, and Binance USD or BUSD. These are just a few examples of crypto that is pegged to the US dollar or USD. There are many more available and also coins that are pegged to other commodities. I like to stay close to the larger more mainstream coins to reduce the risk of becoming de-pegged to the dollar.
So now that we have scratched the surface of what a stable coin is let’s talk about why they might be attractive to investors. Stables won’t allow you to earn profit from a rise in price. In fact the price of these generally only fluctuates a penny or two in either direction. (There are arbitrage opportunities but that is another topic all together)
Because crypto can be extremely volatile some investors prefer to allocate a portion of their portfolios to stables. This provides some level of protection should we see a dip in the market. This prevents investors from reaping the benefits of a huge spike in the price of another coin but conversely provides protection in a bear market.
I personally Dollar Cost Average (DCA) a bit into stables every month and think of that as a type of war chest. I have those funds on the sideline earning 20% APY while I wait for a dip in the market to pick up other coins I think have value. Imagine a savings account where you are earning 20% APY on your savings.
The platform I am using right now is called Midas Investments. Right now I earn a sweet 20%APY which seems crazy but I assure you this is legitimate. I am always skeptical when I see these crazy high APY offerings which usually lead to a pump and dump or a rug pull. I have been with Midas more than 90 days (I wanted to really check it out before recommending) and so far I am extremely happy.
Anyone can sign up right now and I would appreciate it if you would use my referral code https://midas.investments?p=0206 I get a small bonus if you invest on the site. This DOES NOT reduce your earnings in anyway.
There is also a very active discord server which has a ton of very helpful people willing to answer any questions you might have. Honestly though the site is very easy to use. There are no complicated pools to join or anything crazy. I guess I should also mention that Midas also pays very well on everyone's favorites #Bitcoin (BTC) and #Etherium (ETH) 13% and 18% respectively.
What’s the downside? Well for those of us who really like anonymity, I will warn you that KYC is coming to the site. Also the way the site produces records for taxes is still being improved. I would say the final downside is that you are just now finding out about it and have missed a lot of really good rewards.
With many of the sites currently cutting rates this is looking like one of the best (if not the best) opportunities out there.
Be sure to check back as I write some more in depth articles about Midas and how to maximize returns.
Again my referral link is https://midas.investments?p=0206
Thanks for reading.