Writes the post following a post by a group member who asked what to do with the money in the meantime….
About two years ago I opened a SAVINGS account at the bank. Both because they gave a nice deposit bonus, and also because they gave an interest rate of 2%.
Since then interest rates have fallen, initially to 1%, then to 0.7%.
I currently get 0.4%, which is a fifth of my expectation from the account.
So what do you do in the meantime, between the flips with the money? (Or is the amount not yet enough to purchase a property?)
I have found that if you buy relatively stable STABLECOINS (owned by the big stock exchanges), you can get an interest rate of no north at 10% annually.
The interest rates are provided by P2P lending platforms of cryptocurrencies.
They provide liquidity to borrowers (for trading, raising the standard of living and speculation) and those who provide the financing, enjoy a nice return.
In terms of risk, in my opinion it is a bit higher than the bank, but not 25 times as the return. The money is also not insured with federal FDIC insurance, but there are private insurances.
For those who do not use crypto: The tax form must state the purchase and / or sale of crypto currency, even if it is a stablecoin.
If anyone wants more information, feel free to ask here (or also in private)
I also have links that will give you some extra dollars…
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