Crypto companies are promising 10% interest on your savings in £ (GBP) or $ (USD) – here's what you need to know
What would happen to the stockmarket if you could return 10% a year without it – and never have to worry about down markets? We’re about to find out.
IMPORTANT UPDATE: Just like with Terra and Anchor, this all ended in tears. It turned out those non-overcollateralised loans I wrote about in the risk sections were a very big deal and now it looks like Celsius is going bankrupt and BlockFi might not be far behind. I covered it all here: bankrupcy bingo.
I’ve really gone down the rabbit hole this month. But it’s been worth it.
What I’ve discovered could rewrite the rules of saving and investing, and become a new path to financial freedom for regular people around the world.
I’m talking about a way to earn 8-10% annual interest on your savings… paid out weekly, and without the wild volatility of the stockmarket.
To understand why this is nothing short of a revolution, we need to weigh it up against the conventional methods of saving and investing. Namely stocks and savings accounts.
But before we get too carried away, I want to make two things clear here.
1. This is not investment advice. I'm just reporting on what I've discovered, I'm not telling you to use it. I'm a journalist, not a financial adviser. (See the disclaimer at the bottom of this issue or my full disclaimer page for more on that.)
2. This is not risk-free. In fact, it could be very risky indeed. I will go over all the risks that I’ve dug up in detail when we get into how all this works.
With that baing seid, I think it’s definitely worth learning about. In the long run, it’s going to change everything.
So let’s get started.
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