Coinbase Question
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Anonymous
| I'm in the process of setting up a Coinbase account and I need to add a payment method. What's the most secure method? Giving them my Bank of America user name and password or using PayPal? And security issues? Anything I should consider? Thanks |
Anonymous
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Why are you using Coinbase? It's so 1990.... Lol
There are better places to buy crypto where you can do more with it. Eg, earn interest or borrow against it. Abra.com is currently doing 9% interest on stablecoins. Use plaid to connect your bank account. Or ACH/ wire money in. Or use your credit card. Simple, simple. |
Anonymous
Is there a youtube video that explains all this (the latest iteration on how to invest in crypto, staking, etc)? |
Anonymous
NP. I’m also interested in this. If there’s a good site that compares these crypto currency exchanges, that is helpful. Also, is ACH transfer that much safer than giving out the bank info? Thanks. |
Anonymous
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There is a difference between "defi" aka decentralized finance and "cefi" aka centralized finance.
The easiest (and less scary) way to earn interest imo is by using a cefi platform like Abra. https://www.abra.com/how-to-use-abra/ It's very easy to earn interest (a few clicks). Not as scary as defi imo. I like Abra because it's got a good reputation in the industry and I trust them with my money. (places with crazy high interest rates... they scare me.) ACH works thru Plaid. |
Anonymous
| lemmings following each other over a cliff. |
Anonymous
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Meh, stablecoins are a pretty good bet.
Where else can you get 9% interest? (Not putting my cash in the market right now. Might as well park it in stablecoins and get interest.) |
Anonymous
Thanks! How liquid is this? Do I have to commit to a certain period of time? If so, what's the minimum? |
Anonymous
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I think the minimum in is $5.
No minimum hold time. You can get your money out any time. (It does take about 24 hours to get your $ out of the trust account that is the interest earning account, though.) |
Anonymous
That totally sounds sustainable and not part at all sketchy. Bernie promised 10%, so they are are being absolutely realistic by promising 9% |
Anonymous
DP. I think anyone going into this with their eyes wide open should be fine. Put in 10K with the expectation that you will lose it. Be happy if you don't. If you want to commit more, spread across multiple such accounts. |
Anonymous
I just went into Abra.com website. They promising 14% daily compound. This is too good to be true. |
Anonymous
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That is if you join their rewards program.
9% is paid out in kind. The incremental 5% is paid out in token rewards. (I think this is a promo. Pretty sure there is something on the site about the rewards program.) |
Anonymous
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PP here - many (most?) cefi companies have loyalty and rewards programs powered by some sort of proprietary tokens that offer benefits (like bonus interest or reduced trading fees.)
This is not weird or scary. Read up. 
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Anonymous
After staking ETH @ 3.65% and USDC at 9% for a year, I joined their rewards program and have enjoyed 2.5% cash back on trades with 5% bonus yield on all my assets. Have also received $300 USD worth of their CPRX token. Unrelated, keep an eye on their SYS coin offering. A week ago it was trading up to 30% less than the average global exchange rate. |