/biz/ - Business & Finance

[Anonymous No.55981788]

I have to admit I'm kind of retarded but USDC has been doing it's job and been pretty stable. My bank offers 3.75% per year and on Kraken their USDC "staking" offers 3.75% twice a week. If I "staked" USDC on Kraken I would be earning what amounts to minimum sallary in my country in 3 payouts/1 and a half week without doing anything. Where's the catch?

[Anonymous No.55981832]

treasuries offer you 5.5%

[Anonymous No.55981942]

>>55981832
>treasuries
you mean like bonds? I know they're considered safe but it looks like they have the same issue as savings accounts, you're paid out after a much longer period other than that, those who do pay out more often require too big of a minimal investment.

[Anonymous No.55982067]

I'm just looking for any reasons why I shouldn't do this. The profit seems insane considering it's a stable coin. I could unironically retire with the money I have rn if I put it into USDC. I get that it would probably make sense to spread it out through different exchanges with a good reputation and maybe into different stable coins except USDT.

[Anonymous No.55982068]

>>55981788
USDC 4.6% on goybase right now.

[Anonymous No.55982082]

>>55982067
You won't be getting that rate for long, maybe for a few months into 2024 before rate cuts.

[Anonymous No.55982136]

>>55982068
But it's monthly though
>>55982082
Yeah, I don't know what it has been like historically but even if it's like 2% it's not that bad. I'm not doubting you but why do you think there might be rate cuts at that specific time?

[Anonymous No.55982170]

you do understand that the 3.75% on kraken is yearly too right? "twice a week" is just how often they pay you interest on that USDC

[Anonymous No.55982186]

>>55982136
Most Fed officials see rates going back to 4% by end of 2024. You might still be able to get 3-3.5% through the next year.

[Anonymous No.55982198]

>>55982170
no it's definitely 390% per anum

[Anonymous No.55982212]

lmao at this nigga thinking he'll get 3.75% twice a week

that would be 1.0375^104 = 46x per year, not only you would you retire on that, you'd be the next warren buffet

[Anonymous No.55982249]

>>55982212
This is biz, he fits just fine

[Anonymous No.55982290]

>>55982170
>>55982212
>>55982198
>>55982249
I did say I'm kind of retarded but like for example if I put in 10k EUR that's 3.75% interest twice a week, so 375 EUR for 104 weeks = 39k. Honestly, I don't know what else could have been meant there when Kraken said 3.75% and "twice a week".

[Anonymous No.55982314]

>>55982290
shit I forgot to convert to USDC but whatever

[Anonymous No.55982331]

I assume I really did misunderstand but I just wanna know how since it doesn't make sense, everyone would be doing this

[Anonymous No.55982337]

>>55982290
>EUR
of fucking course

[Anonymous No.55982338]

>>55982290
You've got it all figured out OP, thanks for sharing this incredible money glitch with us, see you in lamboland

[Anonymous No.55982361]

>>55982338
but how else would it work? I get that I'm wrong but I just don't know how. Btw your reply made me laugh for 5 minutes straight, thanks.

[Anonymous No.55982400]

oh no wait I'm retarded I get what they meant by this

[Anonymous No.55982412]

>>55982361
3.75% per annum, 52 weeks in a year, rewards twice a week. You receive 3.75/104% or 0.036% interest twice a week, simple as

[Anonymous No.55982422]

>>55982412
yeah, I get it now. I'll have to cancel my lambo order tho =(

[Anonymous No.55982441]

>>55982290
anon, sorry but are all totally retarded here
it is 3.75% APY ANNUALY (i just checked)
So with 10k that's 375€ of interests after a WHOLE year, not two times per week... You'll (basically because it doesnt work like this exactly) get 375/104 two times a week so around 3€ two times a week

[Anonymous No.55982450]

>>55982422
I really hope this was bait nobody can he this financially illiterate.

[Anonymous No.55982456]

>>55982422
don't worry anon, the real lambos were the friends we made along the way... to financial ruin

[Anonymous No.55982461]

Does anyone want to talk about something now that we've established I'm dumb as fuck?
>>55982456
thanks =)

[Anonymous No.55982485]

>>55982450
I was already thinking about how to evade taxes on my 3k per month earnings

[Anonymous No.55982538]

>>55981788
Usd is a shitcoin, usdc is fractionally backed by the shitcoin

[Anonymous No.55982550]

>>55981788
Not bad but is it sustainable?
How long can they keep at it and I'm sure they ain't offer no mf that much yield for staking amount below $100k

I'ma just stick with LPing and raking yields on Dexs, high risk but yeah fuck it

[Anonymous No.55982603]

>>55982485
first step is by not earning interest on a KYC exchange, haha

But seriously anon stay away from earn programs on exchanges after everything that happened last year. They are getting assraped by US regulators, the small interest you would get is definitely not worth the risk. If youre looking to earn interest on stablecoins your better off parking them somewhere directly through defi.

[Anonymous No.55982803]

>>55982603
Yeah, have a good day btw

[Anonymous No.55982844]

>>55982803
kys

[Anonymous No.55982848]

>>55982844
no

[Anonymous No.55982927]

>>55982450
Ser this is biz and finance
Buy the botton sers

[Anonymous No.55982937]

>>55982927
lmao

[Anonymous No.55983007]

>>55982550
I get around 40% pooling sylo/wbtc, risk is reasonably low since there's very little IL to worry about

[Anonymous No.55983236]

>>55982927
Buy the top
Sell the bottom

>The make it strategy

[Anonymous No.55983247]

>>55981788
Reminds me of Luna UST and the insane yield it was offering on stable coins

[Anonymous No.55983269]

>>55983007
Impermanent loss is the reason why I don't do anything LP, it could get you easily rekt, single asset staking is the way to go

[Anonymous No.55983501]

>>55983247
I lost money there, never doing anything with unreasonable stable coins yield ever again

[Anonymous No.55983515]

>>55983007
I've been in the eth pool for awhile now, APY is higher and there's just as the same low IL risk

[Anonymous No.55983521]

>>55982290
payout is twice a week you snarky plebbitor
omg le kraken epic fail xD DDD

[Anonymous No.55984113]

>>55983521
>xD DDD
xD indeed

[Anonymous No.55984390]

>>55981788
3.75% twice a week? that's over 360% per year anon, how's that realistic?

[Anonymous No.55984425]

>>55981788
>Where's the catch?
learned nothing from blockfi and celsius?

[Anonymous No.55985151]

>>55981788
Anon, you are completely retarded, the 3.75% is annualy, also why would you stake USDC if you can stake regular dollar there for 4.75% instead without the risk of your stablecoin going LUNC

If you REALLY want to stake stablecoins then use Nexo, they allow you to stake USDC for up to 15% but with lockup period, they also let you stake PAXG for 4-7% and i think that's the only way to stake gold too, compound staking gold sounds kinda based actually

[Anonymous No.55985158]

>>55982450
don't be mad at him, i had a similar thought when i first learned of staking

[Anonymous No.55985184]

>>55985151
>15%
why's it so high?

also
>Anon, you are completely retarded
>don't be mad at him, i had a similar thought
xD

[Anonymous No.55985212]

>>55985184
i don't know why, it honestly seems sketchy especially after LUNC incident, but they are offering 10% minimum APY on USDT, USDC, Euro, Pound and fuck ton of other stables.

I do trust USDC and USDT to keep it peg, but the fact that those coins have APY of 2-4% on every exchange and somehow 15% on Nexo makes me suspicious, make a lot of research on how do they achieve it anon

[Anonymous No.55985244]

>>55985151
> Nexo

be gone bulgarian

[Anonymous No.55985249]

>>55985212
Yeah, thanks. Btw how come you trust USDT with all the controversies?

[Anonymous No.55985326]

>>55985249
i don't trust them as much as i trust USDT, also: every crypto has controversy, unless it's a complete red flag like what we had with luna then i just see it as a FUD

>>55985244
im polish

Also: just read about Nexo and apperently they ca somehow hive out such hight APY due to the fact that platfrom earn a fuck ton of money by lending money to people, it's basically a lona giant, when you stake your money is lended to other people, they get those loans and pay huge rates which translates to huge profits for you, you become the crypto Jew

Now that i think about it, is there any other place where i can stake PAXG or AUXT?

[Anonymous No.55985342]

>>55981788
you risk everything you have, dont forget that. total loss of investment

[Anonymous No.55985395]

>>55985326
honestly crypto is such cancer now, I was a bit interested in these topics when there weren't so many fucking buzzwords and drama. I think after ethereum was created everything went to shit.

>Also: just read about Nexo and apperently they ca somehow hive out such hight APY due to the fact that platfrom earn a fuck ton of money by lending money to people, it's basically a lona giant, when you stake your money is lended to other people, they get those loans and pay huge rates which translates to huge profits for you, you become the crypto Jew
Since other exchanges probably do the same thing but offer smaller APY due to lower interest rates for loans, I wonder why people choose to get loans on Nexo.

[Anonymous No.55985961]

this is the longest thread I've ever had. i guess being a retard sometimes pays off.

[Anonymous No.55986014]

>>55981788
wait unti it drops to 0.9 again

[Anonymous No.55986509]

>>55982290
If this is the level of the average /biz/ poster. It's really time to move on.