Crypto Earn Updates: Changes to Available Tokens and Revised Rates for Select Stablecoins

  1. Nationwide are doing 5% on the balance of a current account up to £1500 at the moment with instant access. It makes look pathetic, and with them you get FSCS insurance.

  2. Yeah. I still have some tgbp with CDC at 6% but after that I'll just keep my money in Chase. 1.5% flexible. Why risk in stablecoins for an extra 0.5% lol

  3. You’d be protected here as well I believe they’re with FCA, and even though they slashed a lot their %, 3%>1.9% ofc the previous 8% or even 12% was much better but not feasible long term

  4. Theres a chance people might lock things in if they gave people a heads up before the change comes into effect — Im no blockchain expert but it does look like thats how earn works

  5. this makes earn on stable coins useless for me. my mortgage rate is 3.29% so im better putting my money in my offset account now

  6. It wouldn't save them (CDC) money if they said in advance. Well, if you consider it saving money. It's good agreement with end user "You can get up to 10% interest in year from now or you can get 0.10% , and we can just decide it on day before your fixed term ends" :)

  7. So they're only changing stablecoin rates on regional variants (GBP etc)? Seems a weird way to screw non-US users. You can always use USDC but you'll get hit with spread

  8. They are also changing it for TUSD. I think they just reevaluated the trust they have in the stability of these stablecoins.

  9. By now all users should be aware these rates can change at any given time. Like any other business offers can change at a moments notice I think we need to change our expectations, as long as CDC honour existing staking terms then they don't have to give us any notice.

  10. Having you been living under a rock? Have you not seen what happened to Celsius , BlockFi and rumors around Nexo?

  11. By now all users should be aware these rates can change at any given time. Like any other business offers can change at a moments notice I think we need to change our expectations, as long as CDC honour existing staking terms then they don't have to give us any notice.

  12. Welcome to the world of € users. Not only do you have to think about the spread but also how $ fares against your native currency which may also have tax implications.

  13. If you are in the UK and were staking TGBP, probably best to stop, FCSC protected banks where your money is 100% safe offer 3% interest, so why bother staking on crypto?

  14. Have you got any recommendations for banks offering 3 percent please? I’m definitely moving on from stables staking now. My banks all offer 0.5 percent or thereabouts.

  15. I think most people understand that lowering rates in general is needed, but at this point, is there actually any reason to keep anything in The risk to reward ration is just terrible.

  16. Not really yeah. Just use the Visa card perks until they get nerfed. I’m pretty certain they’ll cut back to subscription service rebate soon.

  17. “At least we are not Celsius or Nexus” Aka: we are all dumpster fires but we are the least shitty of the shit choices…

  18. That puts CDC in perspective with their early changes we all hated. They did the right move, its better than going under and freezing funds.

  19. 💯💯💯💯💯that’s where I stand bro.. I talk all this shit explaining the up and downsides of the cronos app.. but I always finish with “if I felt I had a better option I would be there” —- but honestly they would steal like 8 bands from me in gas fees if I tried to move all my stuff elsewhere 😂

  20. "Earn up to 14.5%" is extremely misleading when there's a $3,000 limit. This is the type of crap I expect from used car dealerships.

  21. Yes. The cap is very limiting. Most of the high interest rates are also only offered to cryptos that have high inflation rates in 10% range (e.g. DOT and MATIC).

  22. August is a pipe dream. Try next year. That’s a much more reasonable time frame. Crypto markets are in lock step with the world stock markets right now, particularly the SP500.

  23. Not even angry about this. Just be glad they haven’t run into liquidity issues and ‘pause’ withdrawals.

  24. Guess it's the end of Earn for TGBP with me - as my fixed terms expire, I will just use the money to top up my card, no point in taking any level of risk for a 3% gross return.

  25. I have taken out all my USDC/BTC/ETH and just kept the stake for the card and the max 3k of coins with highest earn rates(MATIC and DOT for 12.5%). These type of announcements drive me nuts.

  26. I pulled everything but my cro out recently and now I use them for nothing but to keep track of my cro and earn a slight interest on it hoping it goes up so I can break even

  27. It's official your rates are now worse than putting money in a bank, where there is 0 risk as it is backed by the government. For example if you're in the UK chase are offering 1.5% no lock up, protected up to £85k, no fees, cashback on spend. I'm sure other banks are similar.

  28. Those stablecoin rates are absolutely ridiculous. My current bank gives .5% flexible savings. Why would anybody risk putting that money on the crypto platform when banks offer better rates on fiat.

  29. I just got my last money out of CDC, except what I keep staked for the Ruby card. It cost me 20 bucks to move that money, which is not even as much as I "earned". I know, I have only myself to blame for my stupid decisions. I have only been in crypto for a year.

  30. I love how this change has effectively flown under the radar. Nobody up-in-arms like before. I guess people just don’t care anymore and a are just happy we aren’t Celsius 😂

  31. I always wished Switzerland could get the same Earn program like the rest of the world, but this didn't work out the way I planned.

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