Do You Know A Higher Interest Bearing Savings Account
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Posted Jul 28, 2022, 8:19 AM UTC
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Probably best to seek a credit union. Major banks don't have competitive interest and some of the alternatives sound sketchy at best.
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Pretty sure this post is a clever marketing ploy.
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4% on Fluid Finance
How do you think they are achieving that rate?
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It is mostly trading fees that I shared back to the account holders. So, somebody swaps between DUSD and ETH and lately these fees are shared. The final yield can be higher or lower and 4% is a target interest
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So decreasing trade volume is a risk to their business model?
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Decentralize finance
And in your opinion as investor, are crypto brokers doing ok right now, in terms of your counterparty risk?
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It's not even a real bank with fdic. Hell no.
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From what I know about them they're FDIC insured, funds fully insured by Lloyd's of London, The 4% APY is very realistic considering the fact that it will be paid with a stable, not a token or mixed ponzi kind of interest.
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They’re launching fdic insured us bank accounts in September. Their banking partner (currencycloud) is registered with FCA.
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I did put some more time into reading about this project and to be honest it does look really good. The way their stable coin minting process works is unique and proves 1:1 backing. It got me wondering why none else have thought of this before, it's simple and effective! I have opened the account so let's see how the user experience is :D
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I was actually looking for a similar products some time ago but the Luna crash and Celcius got me sceptic on all crypto platforms that yield interest. There's barely anyone truly disclosing how they make the money to pay the interest.I did give this Fluid a quick look and they seem to be transparent in this aspect. It definitely looks like they have a plan which should work, but have you actually used them by now?
I have an account there, and i still use it for savings / cashing out from crypto. They are in a start up phase but they are working very well, also phisical cards will be there soon. They have both traditional bank account and digital cash account, all insured
As you should be. What OP shared says insured but doesn't give specifics. I want FDIC insurance or I'm out. Doesn't matter if it's 10% interest.
You can just check here: https://fluid.ch/our-products/traditional-bank-account/