- This topic has 9 replies, 2 voices, and was last updated 8 months ago by RandomTask100.
- Friday, April 1st, 2022 at 07:18 #206583Whom_TFParticipant
Long story short, banks are crap. I’m tired of leaving the money to die there, losing it due to the APY not even cutting the inflation rates and paying “maintenence” fees (lol). Luckily, I live in a crypto fiscal paradise (zero taxes ftw), so investing it in a stablecoin and lend it in an earning program is kind of a no brainer.
That being said, after investigating some options I came across midas.investments, which offers *20% APY* on the usual stable gang (USDT, BUSD, USDC).
Does anybody have experience with it? I’m feeling on the fence from a safety stand point because the platform doesn’t offer any insurance, you need to transfer your own crypto in order to stake it (you can’t just buy it through them), you can’t create an account (you’re only able to log in through Gmail or discord) and they have been around only since 2018.
Is midas a bad option? Should I just stake BUSD in Binance for a 10% APY? Or are there better options? Bear in mind that I won’t trade safety for 1 or 2 more percent.Friday, April 1st, 2022 at 07:18 #206584IgneousMiraCole
If you can’t read and understand the basics of the smart contracts, you should not be investing in *any* DeFi 3.0 protocols unless it’s with money you would otherwise burn. Stick to user-friendly platforms if you’re just looking to set-and-forget invest for a return.Friday, April 1st, 2022 at 07:18 #206585One_Landscape541
20% apr is not a real thing. If anyone offers you 20% apr it’s a ponzi scheme. No project can generate that revenue to support those level or capital reimbursement.Friday, April 1st, 2022 at 07:18 #206586Zoey1234100
I heard its not legitimate and has been shilled by bot accounts. I’m just going what others from defi have been saying.
I’ll stick with anchor protocol.Friday, April 1st, 2022 at 07:18 #206587BigLongFootDoctor
Sounds like an evelator pitch. God damn it, I’m all in!Friday, April 1st, 2022 at 07:18 #206588Tsarbomba_
I’ll give this 2 weeks til I see this sub filled with stories how they got scammed and/or hacked.Friday, April 1st, 2022 at 07:18 #206589bigshooTer39
I’m aware of Midas however it’s Russia based so do with that what you will. They are also implementing kyc effective tomorrow. I considered it but with those 2 factors I’ve decided to go with Haru. Btc at 12.x% for 90 days. It’s Korean based
I also posted about it 2-3 days ago in the ETH staked or trader sub and a mod told me they’ve been banned but keep creating new accounts. They keep spamming the sub w adsFriday, April 1st, 2022 at 07:18 #206590Wonzky
It’s been shilled here and there, not sure how legitimate it isFriday, April 1st, 2022 at 07:18 #206591BWNYMD
haven’t tried them out yet but they’ve been around for about 4 years. kyc is coming soon if that makes a difference. I’ve seen decent reviews. I’m probably going to try it with a small amount. From what I understand HQ is Swiss. I think people get it mixed up with Midas Protocol.Friday, April 1st, 2022 at 07:18 #206592RandomTask100
Sounds pretty unsustainable. I bet it doesn’t last long. I’m gonna stay the course and hodl BTC and ETH on a cold wallet.
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