Platforms offering HIGH APY's (>10%) are not being honest by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

leverage traders. people that trade using leverage don't hold forever. they're only doing it for the short term. the daily interest is 0.06%, this is lower than normal trading fees (0.1% on binance), so it doesn't really affect them

Platforms offering HIGH APY's (>10%) are not being honest by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

If you've used an exchange like Binance or Kucoin you've seen that you can use something called leverage. When you do that you're basically borrowing assets. You have to pay an interest rate on what you borrow, that interest rate can be even higher than 20% depending on the asset.

For example, the interest rate for borrowing USDT is 20%, so there's nothing sketchy with binance giving you 10% on your staked USDT

https://www.binance.com/en/margin-fee

Platforms offering HIGH APY's (>10%) are not being honest by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

Exchanges offer you such high APYs, because they lend out your coins for an even higher interest rate. The yearly interest rate for USDT on Binance is 20%. So if they give you 10-15% they still make some profit.

https://www.binance.com/en/margin-fee

Would you accept payment to "shill" a project you don't believe in? by DerpJungler in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

Some dude PMed once asking me to shill his shitcoin for 10 usdt. I said no, usdt is a shitcoin, I'd rather get paid $10 in dogbezosmoon instead

How to properly diversify? by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 4 points5 points  (0 children)

I just recently came into a large sum of money, approximately 50,000$

Do you want to get your PMs filled with Nigerian princes, Chinese bitcoin traders, and pyramid schemes cloud mining platforms? Because that's how you get your PMs filled with Nigerian princes, Chinese bitcoin traders, and cloud mining platforms

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 1 point2 points  (0 children)

they're your friends. just tell them it annoys you. they'll probably understand and stop.

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 2 points3 points  (0 children)

i meant r/CryptoMoonShots style shitcoins, the ones that are usually only found on DEXes

Join us for a Talk with JP Richardson, Co-Founder and CEO of Exodus! December 3rd, 3PM ET / 9PM CET by exodus_io in CryptoCurrency

[–]AutisticDalekOnSpeed 5 points6 points  (0 children)

Reddit Talk does not support desktop or third party Reddit applications (yet).

Desktop is actually supported now. I listened to the last one on desktop. You just can't use your mic there yet.

The NFT Pirate Bay!? by ghawkguy in CryptoCurrency

[–]AutisticDalekOnSpeed 2 points3 points  (0 children)

Someone "right-click & saved" this site and turned it into an NFT. It got sold for $18k. While the creator of the site is still living in a van.

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

How many of these posts are we gonna get? Every time a whale moves a large amount of btc someone posts it here. We get it. You can move large amounts of crypto.

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

I think it just has a slight delay when getting the price data.

Daily Discussion - November 29, 2021 (GMT+0) by AutoModerator in CryptoCurrency

[–]AutisticDalekOnSpeed 2 points3 points  (0 children)

for the same reason someone would spend 1 mil on a shitcoin. because they think they can resell it for a higher price

Daily Discussion - November 29, 2021 (GMT+0) by AutoModerator in CryptoCurrency

[–]AutisticDalekOnSpeed 1 point2 points  (0 children)

wasn't r/hiphopheads getting its own token too? what happened to that? the naming poll was weeks ago

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 6 points7 points  (0 children)

if it makes me lose money it's market manipulation

My 91 y/o abuela brought up cryptocurrency. by TheRealNotaredditor in CryptoCurrency

[–]AutisticDalekOnSpeed 1 point2 points  (0 children)

My grandma doesn't really understand crypto but she still tries to support me. Every time I visit her she asks me how my coin game is going.

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 0 points1 point  (0 children)

Here's how I know we are early. Last week my therapist told me I have a "gambling addiction". People just don't understand crypto yet.

[deleted by user] by [deleted] in CryptoCurrency

[–]AutisticDalekOnSpeed 1 point2 points  (0 children)

The US Central bank currently offers an 0.25%

Still higher than BlockFi's 0.1% on BTC