Earn 10% interest on cash, pay 2% on loans, and trade crypto like a pro: Welcome to the new world of banking

4 next-gen banking tools you can start using today to improve your finances

Photo by Executium on Unsplash
  • Blockchain + traditional bank = The future bank
  • How to trade crypto like a pro without doing anything
  • How to access 2% APY lending

How to earn +10% interest on your cash

It’s all about defi (decentralized finance) and crypto lending. Here’s the deal.

Bitcoin has gone from $100 to $60,000 a coin since the end of 2013
  1. Once you have USDC in your possession, then you need to transfer it to a lender. Two of my personal favorites are Nexo and Celsius. I’ve been using both of them for over a year, and while they have some differences, they typically pay some of the highest interest rates of any platform. Currently, Celsius is paying 10.5% interest, compounded and paid out weekly, on stablecoin, whereas Nexo is paying 8%, compounded and paid out daily. However, if +10% of your wallet with them is in Nexocoin they will bump your interest rate to 10%. With either platform, you can actually boost your interest rate even further (to around 12%) if you elect to take your payment in their respective “coins”.
  2. Now you can sit back and collect your interest! At some future date if you elect to pull your coin out, you'll need to transfer it back to an institution (like Coinbase) that can take your stablecoin and convert it back to cash.

Blockhain + traditional bank = The future bank

In the previous section, I highlighted a couple of issues with the current system. The biggest blocker of why I don’t put all of my liquid assets in with a crypto lender is due to the lag time of going from cash to stablecoin to the lending institution, and then back to cash again so I can use it to pay off my credit card.

How to trade crypto like a pro without doing anything

I’ve long been interested in trading crypto, but between my day job, wife, kids, etc. it has been hard to find the time to dedicate to that endeavor. I have friends who’ve made a lot of money doing this.

If only this were real money…

How to access 2% APY lending

Finally, one of my new favorites. There’s a ton I could say about these guys, and maybe I will in a future article — but the main thing I wanted to address here is how to access 2% interest rate debt.

Defi is the future

These tools have all come out in the few years, and it seems like new ones are coming out every day. And every one of them gets me more excited than the last, as it feels like tools that have historically only been available to the uber-wealthy are becoming available to the rest of us.

Chief of Staff @ The Future of Work Studios. Husband. Father. TFA. McKinsey & Co. 3X startups. Entrepreneurship, leadership and self-actualization enthusiast.

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