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Compound will give you a risk-free 6.3% APY (other than the risk of smart contracts) on USDC (digitized dollars) https://compound.finance/markets/USDC https://c
by seibelj 5y ago
Compound will give you a risk-free 6.3% APY (other than the risk of smart contracts) on USDC (digitized dollars) https://compound.finance/markets/USDC https://compound.finance/markets/USDC
- justinzollars 5y agoNothing is risk-free. There is political risk (it gets outlawed), technological risk (it gets hacked), theft risk (it gets stolen), a comet hits the earth risk etc etc.
- kinghajj 5y agoAdditionally, BlockFi pays 8.6% APY on stablecoins. If you have any BTC, ETH, or LTC, they'll pay interest on those as well. Normally interest is paid in like-kind (e.g. a BTC balance generates BTC interest), but with the Flex option, you could have interest from all balances paid as one token. I chose to have everything paid in GUSD stablecoin, for instance, primarily to make figuring out taxes easier.
- lgats 5y agoBlockFi's interest is a very attractive offer, but the risks you're exposed to aren't very transparent. What could happen that would impact the exchange rate of this 'Stable coin'? What risks exactly is one taking on for the 8.6% interest?
- quickthrower2 5y agoWith crypto if it’s on an exchange then you can lose it. Not your keys and all that jazz. Never worth the risk unless there is a legal insurance provided by the government which there isn’t.
- everfree 5y agoThis would have been a good comment if it hadn't said "risk free".
- emouryto 5y agoWhat's the difference between this an Aave?