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Is a good idea to invest in crypto stablecoins like 8-12 % APY & live on it in Thailand ?


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There's company, like N .... XO, who are offering Fiat interest, as start of 8 % , & others one.

 

I am wondering while the tradtionnal bank is offering ridiculous interest rates between 0.01 - 0.5%, is it a good deal to invest in such stablecoins, or fiat deposit like N...XO ? 

 

Puting like 100.000 $/€/£ on such things, it gonna make a good bonus for each month in interest to live in LOS. But how it can be risky, I wonder.

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There is no free money.   If they pay 8% - 12% interest (while offering - - but not guaranteeing - -  stable principle), while low-risk stable-principle investments are offering far less than that, then of course they are offering a premium for risk.  Best to understand what exactly that risk is before investing.   A lot of money has changed hands over the past few years in the crypto world.

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I know a guy who sold off his entire investment account and went w/some sort of crypto firm... they were gone the next day... lost everything.

 

There is a risk/reward relation to this type of investment... and I think high risk capital probably can earn 15-20%...

 

I would love a higher % than I am getting in the bank, but not this way...

 

good luck.

 

 

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2 hours ago, Tidybeard said:

If you are asking guys on TV about investment in Crypto, then you should not be investing !!!!

Come on... are you for real. 

 

Forums are great for talking about ideas. Take reddit for example. Many people chat on that website asking about crypto. 

 

Dont be so limited in your old school thinking

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2 hours ago, Tidybeard said:

you should be able to generate a comfortable 4% per year

I would not get out of bed for 4% a yr. Is this a joke?

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32 minutes ago, Iron Tongue said:

Anyone that guarantees an investment return % is a liar and fraudster. 

 

Banks offer guaranteed returns on fixed deposits.  Are they all liars and fraudsters?

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To the OP, as with all investing, first decide what is your risk tolerance. There is always a correlation between reward and risk. US Treasuries are completely safe, for example, but are essentially delivering negative yields!

 

Not all exchanges are created equal. APR's of 14+% are possible. Online research is important.

 

Spread your risk; do not put all of your eggs in one basket. 

 

Good hunting!

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Is a good idea to invest in crypto stablecoins like 8-12 % APY & live on it in Thailand ?

 

Invest in cryptos only what you can afford to lose. Cryptos are not legal tender, nor a currency, nor an asset with intrinsic value like gold.

 

Cryptos are championed by three kinds of people: Speculators with too much money (Elon Musk); those who have reasons to hide their money (drug dealers), and those who foolishly see it as an alternative to fiat currencies. 

 

Note that the value of all cryptos is based on the dollar. Assume that the dollar is overvalued by 40%. That would mean that cryptos are also overvalued by 40%.

Edited by john69
typo
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OP - Aside from the firm you mentioned, Blockfi and Gemini (Winklevoss) Earn? maybe worth a look.

 

I would choose a couple of them....Maybe start small and see how it works for you.  Most have inadequate insurance/depositor protection.  Also, bear in mind while using 2-3 of them may sound like diversification - their business interests could converge more than we realize.  

 

All stable coins are not created equally - USDT pays a higher interest than say USDC/GUSD, but I think there is an obvious reason behind it. 

 

Lastly, if you are technically savvy, look at Lend.hodlhodl (.com)    Truly P2P lending, but with BTC as the collateral.  Believe the guys behind Blockstream have set this up.  The UI is not very beginner friendly, but they may have demo videos on Youtube.  I have no experience with it - except that the non custodial element could be a game changer. 

 

Also, whoever you decide to go with, sign up for the respective sub-forum on Reddit.  Go through the list of issues & see if you have a stomach for it (ie. poor support response time, not able to log in, withdrawal processing delays etc, data breaches).  Good luck.

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It's fairly obvious that some people here have zero clue about these platforms, which I suppose is understandable. 

It is all part of taking traditional finance (banking) and making it decentralised (DeFi - Decentralised Finance). 

In very very basic terms instead of everyone giving their money to a bank that then lends it out, people deposit their funds (fiat or various cryptos) and the platforms lend it out.  The platforms charge interest to borrow that is (obviously) higher than the interest they pay on your deposits.   

For example, lets say I deposit $500 worth of BTC, I will earn 5% APR but I will also be offered a credit line of around $360 secured by my BTC.   

What a lot of people will do because there are so many people addicted to buying on credit is they will use that credit line and the Defi platform will start making money off them.

If you are smart and you only deposit, but never use the credit they offer then you will make money like they do.  

This is not financial advice, there is a lot more to it and there are lots of great resources to learn how it work and which ones are fully insured etc 

I am sure this is the future of finance and it is just the beginning (again just my opinion, not financial advice!)

Do your own research into Defi and where it is heading.    Of course if you are a dinosaur and you want to stay stuck in the old ways that is your perogative.



 

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The post directly above is accurate. Most of the rest are garbage by uneducated outsiders. 

 

Earning interest with stablecoins has little risk. You don't give your money to a 'company' you give it to a 'protocol.' A completely autonomous computer program, designed to  borrow and lend using collateral and paying interest, owned by nobody. This computer program lives on a blockchain, or a database that is impossible to edit once written to. 

 

The protocol can't be stopped. The protocol can't be hacked. It's going to run until the world internet stops, and then when the internet starts again someone will upload the blockchain database and the protocol will continue to take deposits and make loans and charge interest and give that interest to depositors. 

 

The largest example is aave.com with 5 billion USD of assets. BILLION. 

 

My God. Imagine thinking crypto currency is a scam in the year 2021.Traditional banks are done. 

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10 hours ago, Oxx said:
11 hours ago, Iron Tongue said:

Anyone that guarantees an investment return % is a liar and fraudster. 

 

Banks offer guaranteed returns on fixed deposits.  Are they all liars and fraudsters?

 

No because, first of all they are not investments, but fixed term savings accounts.

 

Secondly, they don't offer unrealistic interests of 12% either.

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1 hour ago, xraymikek said:

A completely autonomous computer program, designed to  borrow and lend using collateral and paying interest, owned by nobody. This computer program lives on a blockchain, or a database that is impossible to edit once written to. 

 

The protocol can't be stopped. The protocol can't be hacked.

 

I suggest you don't spread false information

 

https://www.zdnet.com/article/billions-were-stolen-in-blockchain-hacks-in-2020/

 

Billions were stolen in blockchain hacks last

 

https://www.technologyreview.com/2019/02/19/239592/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/

 

Once hailed as unhackable, blockchains are now getting hacked

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