[trashy]

I have some savings apart from my crypto holdings that I want to keep pegged as closely as possible to USD or EUR.
I've been researching stablecoins with high APY, preferably on decentralized exchanges, but want to avoid scams or mathematically unsustainable shit.

What are your thoughts on this approach? Do you stick with BTC for your savings, or do you use some form of stable income? Any recommended exchanges or what you guys are using?

[Kify]

I have some savings apart from my crypto holdings that I want to keep pegged as closely as possible to USD or EUR.
I've been researching stablecoins with high APY, preferably on decentralized exchanges, but want to avoid scams or mathematically unsustainable shit.

What are your thoughts on this approach?

Absolutely nothing wrong with your approach, always beware of the risks though. A DeFi protocol, no matter how big it is, can always have an exploit sitting around undiscovered, but then again, a centralized exchange/platform can be hacked and funds can be stolen too, in some cases users wouldn't be made whole, so both have their ups and downs. Stablecoins like USDT and USDC are also centralised as users' coins can be frozen by the companies behind them, if you're not doing anything wrong, I doubt this would be a problem though, but considering you mentioned trying to be risk aware and mentioned decentralization I felt that'd have to be pointed out.

Do you stick with BTC for your savings, or do you use some form of stable income? Any recommended exchanges or what you guys are using?

Mix of both. Have crypto stocked up and also have different stables on different chains earning me a % every year. Both USDT/USDC (some bridged, this would be considered fairly risky but as the bridge has been running for years now and the APY is so high for them I can't pass it up), aswell as algorithmic stablecoins.
I regurarly bridge from chain to chain depending on the APY difference and if fees wouldn't make it unprofitable. A favourite of mine for some time is Cardano, in some cases you can get 40-50% APY on liquidity pools of bridged stables and algorithmic stablecoins, or around 20-30% APY on lending, will be interesting to see how long this high APY will last. There's a huge liquidity gap there though, but there are some new interesting legit backed and native stablecoins that showed up there recently.

[Omniscient]

High APY's tend to scare me away since the 2020 era of staking went bust for most of the crypto's that did it.

[Marvelous]

USDC is by far the safest bet with a yield of like 4.5%. With that, adjust your ratio with BTC on your risk level.

10% BTC 90% USDC - No Risk
90% BTC 10% USDC - Small risk
25% BTC 25% ALTS 50% USDC - Medium Risk

This is a very safe play.

[stopper]

USDC is by far the safest bet with a yield of like 4.5%. With that, adjust your ratio with BTC on your risk level.

10% BTC 90% USDC - No Risk
90% BTC 10% USDC - Small risk
25% BTC 25% ALTS 50% USDC - Medium Risk

This is a very safe play.

Looks pretty cool!

[trashy]

Absolutely nothing wrong with your approach, always beware of the risks though. A DeFi protocol, no matter how big it is, can always have an exploit sitting around undiscovered, but then again, a centralized exchange/platform can be hacked and funds can be stolen too, in some cases users wouldn't be made whole, so both have their ups and downs. Stablecoins like USDT and USDC are also centralised as users' coins can be frozen by the companies behind them, if you're not doing anything wrong, I doubt this would be a problem though, but considering you mentioned trying to be risk aware and mentioned decentralization I felt that'd have to be pointed out.


Mix of both. Have crypto stocked up and also have different stables on different chains earning me a % every year. Both USDT/USDC (some bridged, this would be considered fairly risky but as the bridge has been running for years now and the APY is so high for them I can't pass it up), aswell as algorithmic stablecoins.
I regurarly bridge from chain to chain depending on the APY difference and if fees wouldn't make it unprofitable. A favourite of mine for some time is Cardano, in some cases you can get 40-50% APY on liquidity pools of bridged stables and algorithmic stablecoins, or around 20-30% APY on lending, will be interesting to see how long this high APY will last. There's a huge liquidity gap there though, but there are some new interesting legit backed and native stablecoins that showed up there recently.

I've always liked defi, that's why a part of me wants to have some savings staked at a defi. But yeah, there's always the exploit risk. Algorithmic staking like luna was always shit, but if only there's a protocol with some computationally impossible shit to exploit (kinda like the 51% attack on btc) it would be nice.

I think I'll stick to a centralized exchange ofc being as secure as I can, but def will take a look at what you do with cardano and stuff even if I dont like it tho. Thanks for your help!

High APY's tend to scare me away since the 2020 era of staking went bust for most of the crypto's that did it.

yeah I'm a bit scared atm because all the luna shit and stuff. I won't fall with some 50% crazy apy, but if i'm saving some stablecoins I also don't wanna be fugged by inflation!

[Mewtwo]

I think it’s a better idea to APY in crypto and not stable coins. Only because at least here in the USA, some banks give high APY, as high as 5% for some of them. And they’re all FDIC insured. It’s really pointless to do it in stablecoins. But if it’s crypto, that’s a different story. You’re either gaining or losing out of whatever you decide to pick. Some websites are just too shady to stake as well. Just imagine something happens to the website, like what happened to BlockFi. Your money is completely fucked if you are relying on a company for APY.

[trashy]

I think it’s a better idea to APY in crypto and not stable coins. Only because at least here in the USA, some banks give high APY, as high as 5% for some of them. And they’re all FDIC insured. It’s really pointless to do it in stablecoins. But if it’s crypto, that’s a different story. You’re either gaining or losing out of whatever you decide to pick. Some websites are just too shady to stake as well. Just imagine something happens to the website, like what happened to BlockFi. Your money is completely fucked if you are relying on a company for APY.

Depends on where are you staking. If is decentralized and the crypto has staking in their protocol, it makes me think twice the investment. It doesn't mean I wouldn't invest, but with staking it has that point of inflation I don't like.

I only wanted a high apy because I wanted to have some stablecoins savings and didn't want to get fugged up bc of the inflation.