Crypto has become one of the most popular asset classes globally in the last two years.
However, currently the crypto market, like many other investment classes, is having a bad time.
This is due to general panic about a recession, speculative activity and strict regulations.
A lot of people see this as an opportunity to go crypto shopping at a discounted rate for the long run, while others feel stuck with cryptocurrencies that have hit new lows.
No matter what your crypto position may be, chances are if you own crypto, it is lying idle in your wallets.
But what if we told you this crypto could earn you a passive income?
💰 Crypto Investing
Do you know how banks make money to give you interest on your investments?
They take the money you have deposited and loan it to others.
The interest that they get on that loan pays for their expenses and your interest.
Crypto platforms are now taking this page from banks' playbooks to give you interest on your crypto investments.
They either lend out your crypto or invest it.
This is often a better alternative than selling your crypto when prices are low.
Umm, invest it? Where?
In Decentralized Finance (DeFi) protocols.
But it is often difficult for normal investors and traders to invest in DeFi protocols as they all reside on the blockchain.
They have to set up a crypto wallet, understand how the DeFi protocol they want to invest in works, often convert existing crypto into tokens of the DeFi protocol(different DeFi protocols have their own native crypto tokens), and understand what gas fees will be charged and so on.
For someone who is new to the crypto world or doesn't have a lot of time, this hassle can be off-putting.
Especially as people are used to just putting their earnings in fixed deposits and earning returns.
So, a platform called Pillow.fund is now offering easy crypto investing services. Pillow began with a simple goal in mind: make DeFi investing easier so that crypto investors can earn the best returns on their crypto with none of the hassles.
To do this, Pillow invests users crypto in blue-chip (that is tried and tested) DeFi protocols (you can read all about DeFi and DeFi protocols here).
And in doing so, it is guaranteeing higher returns than many of its competitors (like Coinbase, Binance, BlockFi and so on): a 13.68% annual return on stablecoins like USDC and USDT(you can read all about stable coins and especially USDT here).
It has also recently introduced Polygon MATIC (the native token of Polygon) staking, which will provide an interest rate of 20% till July 10, 2022. Then, a variable APY of 8.5% post that period.
☠️ Risks on Crypto Investments
No investment comes without risks and the same goes for crypto. But Pillow tries to safeguard your investments from some of the risks:
Your country could choose to ban crypto, something India has already tried to do in the past.
Pillow's safeguard: It is based in Singapore, a crypto-friendly country, so your investment will be safe and returned to you whenever you want.
DeFi platforms are also vulnerable to hacks, something we keep hearing about every other day.
Pillow's safeguard: It only invests your crypto in DeFi protocols that have been vetted by auditors and proven to be safe. It also diversified your tokens across different protocols to minimize your risk. Plus, it has a $250 million insurance just in case your crypto assets are hacked and stolen.
Despite these safeguards, you should be careful before you invest in cryptocurrencies as they are highly volatile. But if you want to make the most of your idle crypto, you can check out the Pillow.fund app here 👇
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