The 10 best places to gain passive income from stablecoins
Stablecoins have grown in popularity within the crypto space over the past year or so. Stablecoins are digital currencies with a stable price. Their value is tied to other assets that are more or less stable. Usually, this more stable asset is traditional currency, a commodity or another digital coin. Stablecoins have become a choice for many investors when looking to spread their risk. In this article, I will show you the 10 best places that you can gain passive income from stablecoins with APY ranging from: -10% to 160%. I'll look at both decentralized and centralized exchanges.
Earlier on I’ve heard about people receiving 10-12% APY on stablecoins. In my mind that sounded awesome. If you’re a hardcore crypto-dude reading this, remember many people who have only been exposed to traditional finance stock 10% per year is typically what’s expected long-term.
1. Anchor Protocol
As I started to dig deeper into stablecoins I found Anchor Protocol which is a part of the Terra Ecosystem (the biggest coin per market cap is LUNA). Anchor Protocol is a protocol that promises a stable savings rate between 19-20% per year on their own stablecoin UST.
The ironic thing is that inside the crypto community no one thinks 19,5% APY is great. The best traders earns this monthly on a regular basis for years, so why would they accept 19,5% for a full year?
19.5% APY on $UST --> read my guide here: https://twitter.com/Route2FI/status/1442835869879181312?s=20…