Quote from: EidooTeam on September 30, 2019, 03:26:40 PM

Quote from: Silverstone1111 on November 10, 2017, 03:52:27 AM

I know the concept of the Compound Interest. I haven't yet found a investment or a place where I can get a Compound interest !!! Well are there any legit online places where I can get C.I for my investment.

We have just released our first integration with the Compound system on our non-custodial Eidoo wallet.
Now you can swap your DAI with cDAI tokens and get the compound interest (now it's more than 8%)

https://en.cryptonomist.ch/2019/09/30/defi-eidoo-dai/

If you need more info just let me know Wink

Isn't this the same thing as cryptocurrency staking?

Quote from: styca on September 30, 2019, 08:26:25 PM

I get the feeling I'm misunderstanding something here. Please put me out of my misery and explain! Don't all banks pay compound interest by default? If an interest rate is consistent, at whatever %, let's say 10% again, you invest $1 million, then after 1 round of interest you get $100k, so you now have $1.1m, then after the next round of interest you get 10% on your $1.1m, i.e. $110k, and so on. For so long as you keep your money in there, the amound you get as interest increases each time. This is the basis of compound interest, isn't it?

I think banks system don't work like that, at least for regular savings account, they have a fix plan for savings and you can only get an interest on that amount regardless how much extra you put in your savings account. Lower than that allocated amount won't get you any interest. Well that is how the bank staff tells me about their savings policy, but I think it is different on their time deposit plan where compounding interest is enabled.