Post
Topic
Board Bitcoin Discussion
Re: Bitcoin and interest rates and defi yielding gains
by
lumierre
on 24/08/2021, 09:34:18 UTC
So not only is btc a good store of value u can earn interest on your bitcoin holdings. I'm holding btc and eth and gaining daily interest 3.8% apr on the exchange. Hotbit.io I am also doing defi farming on these holdings. So Additional gains about 9% apr.
Let's say I'm holding 500k usd of btc n eth I will earn about 17k$ interest a year.
There is risk involve at how exchanges can exit scam or hack exchanges.

But it is truly amazing to be gaining interest nowadays. When I first started 3 yrs ago there was none of this interest or defi farming.

I can start early gaining small income earnings rather then buying a house for 1 mil in cali and renting it out for 36k a yr minus property taxes to about 24k a yr.

I'm sure this crypto asset will be a golden age. Instead of finding money by holding land. U can find money by holding btc n eth through interest. Just my opinion.

You had better watch out as 3,6% daily is too much.And the higher potential profit, the higher risks are. I have met different defi-projects where they promise to give more than 20K % a year, but I know that such a project with such APRs can’t exist for long. Even if it is not a scam, APR will decrease within time. I always investigate whitepapers and smart-contracts before investing, to get know about hidden functions.