Q&A: “Can you really earn 150% interest through DeFi?”
Decentralized finance, also known as DeFi, offers the chance to earn high levels of interest (often 150% or more) in exchange for depositing funds. It’s not for the faint of heart, but if you like the idea—what’s the first step?
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What It's About
Today's caller is looking to cash in with decentralized finance, also known as DeFi.
Notes from Chris
Episode 1925
Over the past six months I’ve been on an adventure in decentralized finance, also known as DeFi. It’s been really interesting. I’ve learned all about staking, which is effectively depositing money in different digital currencies in exchange for rewards. Usually with cryptocurrency or any other investment, your main hope is that the price of the token or security goes up over time. With staking, you still hope to see that price increase, but you’re also earning rewards every day in the form of interest. The interest is often very high, like 100% or more. This is not a joke! Our listener wants to know how to get into this—so I’ll tell him! It definitely involves some risk. Also, there’s no product affiliation here–I’m just sharing my experience. You should always do your own research."I've been learning more about DeFi investing and have heard you mention it a few times as well, especially the part about "staking" your deposits to earn returns of 100% or more, sometimes even 150-200% or more. What's the best way to get started? I don't want to get scammed! But I also don't want to miss out..."Listen to today's episode to learn more...
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