Not Much Safety in Crypto
I mentioned in a post last night that the only stable coins I personally hold/trust are $USDC.X, $DAI.X, and $GUSD.X. I forgot to mention $PAX.X, which I don’t personally hold but is backed 1:1 by gold. I’ve never seen anything slaughtered like crypto right now. I usually have my head in one market or the other and with the opportunities in stocks where my real money is at, I mostly ignored crypto for a couple weeks.
Those are the best/worst performers on [Crypto.com](Crypto.com), that stay resets daily at the same time since markets never close.
Buying these stable coins and staking them for the 6%-12% on FTX, Gemini, and [Crypto.com](Crypto.com) is the safest way I have found to earn returns in Crypto. Everything else is pretty close to 100% speculation (outside of a very select few that already have millions of dollars worth of transactions on their platforms). But I feel much more comfortable with these realistic returns and more transparent backing of real assets.
FTX let’s you earn 8% APY on all of them. That’s the realistic future I see. Lending others my money and getting 6%-12% returns, the LP (liquidity protocols) are working great so far but that’s more speculative. Glad I’m not somebody with 100% of my investments crypto😬