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What’s the situation these days with GUSD? I have single-digit thousands in an interest account (not defi) in that currency and it seems to be holding steady. A
by jdpedrie 4y ago
What’s the situation these days with GUSD? I have single-digit thousands in an interest account (not defi) in that currency and it seems to be holding steady. Any reason I should be concerned, aside from the custodian company going belly up?
- shawabawa3 4y agoGUSD is pretty legit as far as stablecoins go As for whether your CeFI interest account is safe... Well, I hope it isn't Celcius.
- moconnor 4y agoThese interest yields are unsustainable even for GUSD. Take your money out now ahead of the rush.
- colechristensen 4y agoIn this climate I wouldn’t put any money in an interest bearing crypto organization (that i wasn’t willing to lose). They’re very poorly regulated and liable to be doing stupid things that will lose you all your money. The only thing you have to go on is repetition and hope, the rewards are probably not worth the risk.
- iskander 4y agoGUSD seems to be about as safe as USDC (1:1 backing in banks) but careful where you try to earn interest on them. Gemini Earn hands over your GUSD to Genesis Trading, with no guarantee you get anything back if they implode. DeFi yield in this case is actually safer on a platform like Aave but with safety comes low APY (~1%).