If you are unfamiliar with or daunted by cryptocurrency, there is a simple and profitable way to get started in this space.
The world is changing. And it’s doing so at a much faster clip than I could have ever imagined a few years ago.
No, I’m not talking about COVID-19 or race riots or even murder hornets.
I’m talking about the world of finance.
In case you missed it, blockchain technology and cryptocurrency entered it’s 2nd decade of revolution.
It’s here to stay.
Three months ago, I wrote a piece title, “The Crypto Economy Has Arrived and Not a Minute Too Soon”.
In it, I look at the history of money and how we are witnessing the evolution of one form of money into another.
That’s right: Cryptocurrency is the future of finance and whether you accept it or not, it WILL be the primary form of money in the coming years.
Yeah, yeah, I know all you gold bugs out there will admonish me, insisting gold has been money for thousands of years and will continue to be.
But what many ignore is we now live in the information age. This is no longer the agricultural or even the industrial age.
In this information age we run virtual companies with a remote workforce and outsource product production to China and India.
Try making a deal with your Chinese supplier and tell him you will ship him a few bars of gold to pay for your shipment. Go ahead…I’ll wait. Oh, that’s right. None of us has the time for that, including your suppliers.
But cryptocurrency can be sent in seconds or minutes (depending on the blockchain used). Nowadays, if you are in e-commerce you can even implement payment processing right there on your site in dozens of different cryptocurrencies thus taking the bank out of the middle of your cash flow chain.
The bottom line is, either you get on board, or get left behind. Up to you.
For 2020 the concept of DeFi, or decentralized finance, has taken the financial world by storm.
There are several platforms out there where you can deposit your funds, earn interest, make loans, take loans, and even use a cryptocurrency debit card to access your funds.
This is groundbreaking for the cryptocurrency space. This is the beginning of mass adoption.
This is the ease of use we’ve all been waiting for. And it keeps getting better.
In the aforementioned article, “The Crypto Economy Has Arrived and Not a Minute Too Soon”, I went into some detail about one of the platforms I recommend.
I’ve been using this platform now personally for several months and it is amazing. It is simple to use, easy to send and receive funds both in fiat and cryptocurrency, and the best thing about it is the interest you can earn on your deposits.
The deposit options work like either a money market account or a CD. You can get a lower interest rate but have instant access to your funds, or you can lock the funds up for either 1 month or 3 months.
The longer you lock up your funds, the higher your interest.
Here’s the crazy part: You can use your fiat currency, USD for example, and buy a stable coin like USDC. If you are not familiar, USDC is a stable coin that has a fixed rate of exchange of $1.00 = 1 USDC.
This way you take out the sometimes wild fluctuations in cryptocurrency values and fix it to the US dollar.
Then you can deposit your USDC into either a flexible, 1 month, or 3 month account and earn up to 12% (annualized) interest on your funds.
the world can you possibly earn 12% interest on your US dollars?
There are several other cryptocurrencies available on the platform as well, some earning as much as 18% per year for deposit accounts.
If you are interested in creating an account with this platform, you can use our referral link below to get $50 worth of CRO (their proprietary coin) instantly deposited into your account, for free.
Click here to sign up today!
Crypto.com, is a platform that is a super simple, easy to use, and very profitable way to earn some interest on your cryptocurrency holdings or even your USD, EUR, GBP, etc.
Like any other investment, I would never recommend putting your entire nest egg into this platform. I’m a firm believer in a diversified portfolio of cash flow generating assets.
If you are new to cryptocurrency, this is an excellent way to get your feet wet and get to know it. Get your free $50, buy some BTC (BTC deposits pay up to 6.5%) or other coins.
If you are experienced in the world of cryptocurrency, this is an excellent platform to park some of your coins and earn a very nice return on an otherwise dormant asset.
Until next time, live well.