Crypto.com earn 10% interest on tgbp

Scottex99

lozzy1965 said:

The Big Short is a good film by the way   It's about the analysis of the lending and due diligence done by the 'shorters' with regard to the lending that went on in the build up to the banking crisis of 2008.
I'm not a crypto basher, I'm a crypto 'non-understander', but I don't see how these 10% returns stand up under scrutiny, but then I am in the 'if it sounds too good to be true...' camp.

One of my favorites. And Michael Burry is well known shorter of BTC and he’s rekt for 10s of Millions. He can afford it so fair play, nobody is right all the time. 

Scottex99

darren232002 said:

Scottex99 said:

Personally got 140% initially on my favourite single sided farm whilst holding the token which did a 10x in price from my original buy position.

Don't confuse them.

I'm getting 115% on my AXS that I bought when they were about $4 and are now c.$150.

Must remember to pay my CGT

Fair point!

Whats your exit strategy? I missed AXS. I haven't looked in to the tokenomics so this is a thoroughly uneducated view and I'd be happy to be convinced otherwise, but I assume that price can only go up because of increased users and users are only joining because they can make money playing the game. I can't forsee a future world where the PH sustains itself as a gaming based economy. Also, its just a really naff game. Generally thinking that I'll leave the gaming sector for a couple of years until something I like comes along but things like Star Atlas look promising.

Not really bothered to be honest, I trimmed the bag a bit to buy something else. Have never even tried to play the game but I think they went from 1m to 80m revenue in about a year.

If it keeps pumping I’ll prob dump some but also at current staking rates on Binance, I can just keep it parked there.

Not convinced with play to earn either but some projects will moon and there will be NFTs involved in that. Can’t remember why I even picked AXS but I like to get exposure to all sorts of random stuff regardless

User232002

tebbins said:

@darren232002

How do I earn more than 10% on an untied coin? I've not heard of this yet.

Staking single assets via exchanges is the entry level version of this. The exchange will do the staking for you and collect the network rate, obviously pocket a commission and then pass the remainder on to you. ETH is 6% ish at the minute (you need to lock it up util the merge though, so its restrictive even though there are workarounds). ALGO was 6% on Coinbase when I bought it earlier in the year. No idea what it is now, but you can get more if you stake yourself directly through the wallet (which would be the next step up from doing it via an exchange). The more secure the asset, and the longer the staking lock up period is, the less the incentive to require people to stake, therefore the lower APY (in general). BNB, DOT, AVAX all reasonable large cap assets running above 10% from memory. Have a look here for more: https://www.stakingrewards.com/

Better question is why bother looking for staking rewards around/above 10%. Stablecoins pay 10% and have no price volatility, so if 10% is good to you then just take that. Secondly, I don't think people are holding SOL or ETH currently because of its 6% staking rewards, they are holding it because they believe its going to do a 3 or 4x in price over the next 6 months. The staking reward is basically a nice extra for holding an asset you believe in. 

Other ways include farming but I'd suggest you stick to USD pairs here because of impermanent loss and the volatility of crypto eating in to your returns. 

Zola.

Scottex99 said:

lozzy1965 said:

The Big Short is a good film by the way   It's about the analysis of the lending and due diligence done by the 'shorters' with regard to the lending that went on in the build up to the banking crisis of 2008.
I'm not a crypto basher, I'm a crypto 'non-understander', but I don't see how these 10% returns stand up under scrutiny, but then I am in the 'if it sounds too good to be true...' camp.

One of my favorites. And Michael Burry is well known shorter of BTC and he’s rekt for 10s of Millions. He can afford it so fair play, nobody is right all the time. 

Michael Burry makes me laugh. He's constantly negative about the stock market, index funds, tesla etc. Wrong an awful lot. He's made a lot of money, especially at the housing bubble, but there's something sad about living your life as a constant pessimist. 

He makes lots of these big calls over and over (most notably tesla and bitcoin), then deletes his Twitter account when he's wrong, only to resurface a few months later and act like it never happened. 

But a broken clock is right twice a day I suppose, eventually, he'll be right again.

User232002

What I really find fascinating about Burry is that his portfolio is based on inflation going up and rates not being able to move to bring it down. I don't know how you can have that thesis with one hand and then proceed to short Tesla and Bitcoin with the other.

adam06_2

Zola. saiid

Michael Burry makes me laugh. He's constantly negative about the stock market, index funds, tesla etc. Wrong an awful lot. He's made a lot of money, especially at the housing bubble, but there's something sad about living your life as a constant pessimist. 

He makes lots of these big calls over and over (most notably tesla and bitcoin), then deletes his Twitter account when he's wrong, only to resurface a few months later and act like it never happened. 

But a broken clock is right twice a day I suppose, eventually, he'll be right again.

I suspect the press approach him whenever something is getting a bit top heavy because they know he, like most peoples instinct will say it's going to drop hard... He probably hasn't looked into it as much as people think. And the press just want a story with a big name on it.

Zola.

He's very vocal on twitter,  always negative...i think its his ego / brand since the movie... 

tebbins

darren232002 said:

tebbins said:

@darren232002

How do I earn more than 10% on an untied coin? I've not heard of this yet.

Staking single assets via exchanges is the entry level version of this. The exchange will do the staking for you and collect the network rate, obviously pocket a commission and then pass the remainder on to you. ETH is 6% ish at the minute (you need to lock it up util the merge though, so its restrictive even though there are workarounds). ALGO was 6% on Coinbase when I bought it earlier in the year. No idea what it is now, but you can get more if you stake yourself directly through the wallet (which would be the next step up from doing it via an exchange). The more secure the asset, and the longer the staking lock up period is, the less the incentive to require people to stake, therefore the lower APY (in general). BNB, DOT, AVAX all reasonable large cap assets running above 10% from memory. Have a look here for more: https://www.stakingrewards.com/

Better question is why bother looking for staking rewards around/above 10%. Stablecoins pay 10% and have no price volatility, so if 10% is good to you then just take that. Secondly, I don't think people are holding SOL or ETH currently because of its 6% staking rewards, they are holding it because they believe its going to do a 3 or 4x in price over the next 6 months. The staking reward is basically a nice extra for holding an asset you believe in. 

Other ways include farming but I'd suggest you stick to USD pairs here because of impermanent loss and the volatility of crypto eating in to your returns. 

Thanks but literally couldn't understand a word of that.
Is this riskier than simply holding the crypto asset yourself and what actually is it technically? Are you loaning it? How do they make their money?

adam06_2

tebbins said:

darren232002 said:

tebbins said:

@darren232002

How do I earn more than 10% on an untied coin? I've not heard of this yet.

Staking single assets via exchanges is the entry level version of this. The exchange will do the staking for you and collect the network rate, obviously pocket a commission and then pass the remainder on to you. ETH is 6% ish at the minute (you need to lock it up util the merge though, so its restrictive even though there are workarounds). ALGO was 6% on Coinbase when I bought it earlier in the year. No idea what it is now, but you can get more if you stake yourself directly through the wallet (which would be the next step up from doing it via an exchange). The more secure the asset, and the longer the staking lock up period is, the less the incentive to require people to stake, therefore the lower APY (in general). BNB, DOT, AVAX all reasonable large cap assets running above 10% from memory. Have a look here for more: https://www.stakingrewards.com/

Better question is why bother looking for staking rewards around/above 10%. Stablecoins pay 10% and have no price volatility, so if 10% is good to you then just take that. Secondly, I don't think people are holding SOL or ETH currently because of its 6% staking rewards, they are holding it because they believe its going to do a 3 or 4x in price over the next 6 months. The staking reward is basically a nice extra for holding an asset you believe in. 

Other ways include farming but I'd suggest you stick to USD pairs here because of impermanent loss and the volatility of crypto eating in to your returns. 

Thanks but literally couldn't understand a word of that.
Is this riskier than simply holding the crypto asset yourself and what actually is it technically? Are you loaning it? How do they make their money?

How I understand it, there are 2 ways to earn interest via an exchange:
1) you put your crypto in and they loan it out and pay you a cut of the interest
2) you put your crypto in and they use it for staking in the proof of stake mining process. (Not all crypto is proof of stake, interest from proof of work crypto cannot be earned this way) then give you a cut of the mineing rewards.

Either way you are putting trust into the exchange, so make sure you pick one that has been around for a while and you trust as you don't have any protection if they go bust, get hacked or run off with the crypto. So yes, more risky than holding in a personal hardware wallet. Crypto.com is apparently insured and has been about for a while so I have some trust..  but I wouldn't go putting all my list savings in..

Also if you are putting in non-stable coins, note there is a bear market on its way as the market can't sustain this bull market forever. Could be today, could be 6 months from now.... So be careful about buying at the top and locking yourself in for longer term..

tebbins

I get that you can loan crypto like with P2P lending in fiat currency, but what is staking, how does it work, how does it generate money?