How To Earn 8% On Your Money With USDC
In this video, I discuss how to earn a higher interest rate by holding the stablecoin USDC at BlockFi.
One can wire USD into BlockFi, convert it into USDC (a U.S. dollar stablecoin), and then start earning interest (currently 8.6% APY).
This is made possible by the fact that BlockFi is probably lending out the USDC to institutional investors who use a "cash and carry" trade on cryptos like Bitcoin, that enables them to earn annual returns in excess of 10%.
I believe that investing in USDC is a safe trade, as long as one is comfortable with the counter-party risk that one is taking on with BlockFi and whomever is insuring their accounts, as well as Circle which is the company that backs USDC.
I personally prefer to hold a portfolio that includes both USD and Bitcoin (BTC). The former will lose money over long periods of time due to fiat monetary debasement, while the latter should more than make up for it as a powerful hedge.
I am not being paid by, nor am I affiliated with any of the companies that I discuss in this video.
Not investment advice! Consult a financial adviser.
BlockFi interest rates:
https://blockfi.com/rates/
BlockFi FAQs:
https://blockfi.com/faq/
USDC stablecoin:
https://www.circle.com/en/usdc
CME Bitcoin futures:
https://www.cmegroup.com/trading/equi...
Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guid...
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