Investing & Preserving Your Gains in This Crazy Market

I am all for HODLing in the long term and dollar cost averaging but having been in this market for more than a year now and having seen upside and downswings (also having accumulated some crypto ;) ), I think changing your cryptos to stablecoin and vice versa and parking your stablecoins into high yield savings accounts has given me the best returns so far.​I have experimented with the following platforms, below are the pros and cons. Usually these platforms give out gains on crypto + on their native tokens. I am just putting out how much gains do they give flat out on crypto (also called in-kind rewards) and not on their native tokens​Celsius:URL: Celsius.network​APY on stablecoins: 8.88%APY on Bitcoin: up to 1 BTC- 6.2%, more than that, 3.51%APY on Ethereum: 5.35% (Up to 100 ETH), 5.05% for anything moreSource: https://celsius.network/earn-rewards-on-your-crypto​Pros:​Has been around for 3 yearsCEO is engaged in the community and makes constant AMAsNo fees for withdrawal$50 to referred + $50 to one being referred​Cons:Withdrawals can take more time than you are expecting . I usually just get my coins back the next day but they claim it’s for safety reasons.Interest is paid on a weekly basis.​Yield AppURL: yield.app​APY on stablecoins: 20% (10% in USDC + 2-10% in yld)APY on Bitcoin: 12% (6% in btc + 2-6% in yld)APY on Ethereum: 16% (6% in Eth + 2-10% in yld)​Source: https://www.yield.app/yld​Pros​Offer the higher APY for Stables at the marketOffer the higher APY for the native token at the marketInterest is paid dailyPossible future gain in it token, low market cap​​Cons​Mobile app is still in the worksBecause it is still new, it must establish credibility.​​​NexoURL: nexo.ioAPY on stablecoins: 10%APY on Bitcoin: 6%APY on Ethereum:6%​Source: https://nexo.io/earn-crypto​​Pros:​Mobile app is user friendlyYou don’t have to own a lot of Nexo token to get the best ratesFast withdrawal systemInterest paid daily​Cons​There has been a lot of controversy regarding their insurance policy and regulations.Boosted APY with their tokens is much less than competitors (Yield App gives upto 10% by holding their token while Nexo gives only 2%)Annoying ads everywhereSwissborg​URL: swissborg.comAPY on stablecoins: 8.57%APY on Bitcoin: 4.01%APY on Ethereum:4.06%Source: https://swissborg.com/smart-yield-account​​Pros:​Good mobile app with nice UXCheaper in app crypto purchasesGood prospects with smart yield​​Cons​0.1% withdrawalA lot of money required to achieve premium status and Yield BoostCringy Pow Wow with their CEO, this for example 🙄🙄False advertising with their APY (They present the maximum APY they achieved at some point as if it can be achieved at any time)​​​Whenever crypto goes into a bull market, I change my stables to crypto and when there is a market downturn, I change my crypto to stables and park them in these accounts. This has given me the best returns to my investments.

Submitted August 18, 2021 at 01:49AM