I am not a big crypto guy but have been slowly training to learn about the blockchain and it's applications. Also intrigued by the metaverse, though that seems millennia behind crypto in terms of maturity and significantly more speculative (maybe I'm wrong).
I recently have been very interested in staking and think that staking stablecoins on a variety of platforms seems like a no brainer. 7-10% yields and if done in small increments on different sites there is low risk of losing your principle.
My questions:
- Am I just an idiot who knows nothing about the true risks?
- If I am not an idiot, what other no-brainer crypto ideas exist? I like the concept of staking but don't like the underlying currency exposure (hence stablecoins), but maybe there is a way to hedge this risk.
- Are there other no-brainer investments (ie not based purely on speculation) investments out there in NFTs or the metaverse (slightly different but same realm of weirdness for a dummy like myself)?
Yields are high for stable coins because there is risk. It’s not like a savings account because those are government backed. You’re getting paid 7-10% because the entire stable coin could be propped up by worthless corporate paper, because the exchange could get hacked. Is a scenario where you go to zero worth 7-10%? All my crypto exposure is in direct projects, because a project that could go 10x is worth the risk of going to zero. Treat everything in the space as a VC investment and you’ll be good to go!
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