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Your "5% APY" option is a prepaid debit card that has a maximum balance of 5000 and the advertised rate is only good for a couple of months. The lesser rates h
by etr-strike 9y ago
Your "5% APY" option is a prepaid debit card that has a maximum balance of 5000 and the advertised rate is only good for a couple of months.
The lesser rates have similar terms - only earn 3.5% on balances up to 10k, you must make 12 purchases from your debit card per month. You must spend more than 1k from your debit card per month. You must log in to your account at least once or month. If you skip any of these things, your interest rate is 0.01%.
This is your suggestion for storing wealth safely?
- 659087 9y ago> This is your suggestion for storing wealth safely? Says the person who suggests that a highly volatile and risky cryptocurrency with a long history of crashes and manipulation is a "safe haven".
- etr-strike 9y agoIn 2008 the stock market crashed over 50%. Plenty of people would have lost everything had the fed not intervened. Is bitcoin volatile? Of course. But at least the game isn't rigged.
- spookthesunset 9y agoThere is absolutely no way you can be sure the price of bitcoin isn’t rigged. The exchanges are all sketchy as heck and are no doubt doing backroom trades to help boost the price.
- astura 9y agoI've kept around $10k in FDIC insured savings accounts tied to prepaid cards for years. Successfully got 5% risk free for years. So, yes. 5% risk free is not going to scale to much more than that but if you're saying "stocks are expensive, real estate is expensive," then you aren't going to reach that limit very soon... I have the rest of my money in various investments, a very small amount (5%) speculational, including a small amount of Bitcoin plus around $90k in my house.