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One way that I made money was lending cryptocurrency through DeFi platforms. Basically: - Buy DAI (which is ~1DAI to 1USD) through any platform (e.g.Coinbase)
by dhruvkar 6y ago
One way that I made money was lending cryptocurrency through DeFi platforms.
Basically:
- Buy DAI (which is ~1DAI to 1USD) through any platform (e.g.Coinbase)
- Transfer to your local wallet (e.g. Metamask).
- Then lend it on one of these exchanges [0].
One exchange that's not on the list https://app.fulcrum.trade/lend https://app.fulcrum.trade/lend has a higher interest rate (probably because they're trying to get users as they were hacked earlier this year).
Last 2 months I held DAI in Fulcrum and I made about 2.5% on my money.
Also holding ETH for the last 6 months, which has paid off by sheer luck.
[0] https://defipulse.com/income https://defipulse.com/income
- ficklepickle 6y agoThis is the only sensible scheme in this whole thread. 2.5% in 2 mos is 15.97% annualized. Very respectable return. Can you keep that up for a year? If so, you should repackage it and turn it into a ponzi. /s
- dhruvkar 6y agoIn the ~3 months I've followed DeFi, the interest rates are anywhere from 6% to 50%. I'd guess the average is about 10%, but it's too new to say.