Best deposits currently not found in traditional ones banks. We have very low interest rates all over the world and it does not appear to be rising quickly.
So where can you put your savings so that they don't get eaten by inflation?
Why is it not worth keeping money in the bank?
Central banks and state institutions with them decide on the level of interest rates. When the economic situation is good, they should raise interest rates to cool down the hot economy, when there is a crisis they should lower rates to stimulate the economy with cheap loans.
Unfortunately, the long-term trend is downward. Interest rates have now fallen to zero or even become negative in many countries.
Real interest rates on deposits are much lower than inflation.
Thus, keeping money on even the best bank deposit on the market, the interest reaching our account is much lower than the decrease in the value of money accumulated there as a result of the increase in prices of goods and services.
So how do you save if it's not worth it at all?
The best deposits from the world come to the rescue cryptocurrency.
Best deposits only in DeFi
DeFi (decentralized finance) are decentralized financial services.
The lack of decentralization means that we entrust our funds to the company behind the project. In the event of its fall or fraud, we may lose our savings. Therefore, it is worth choosing a deposit only from a reliable company with an established position on the market.
In addition, we have had cryptocurrency on the market for some time fashion for projects related to DeFi. Therefore, be especially careful, because many projects only sew on this type of service to inflate the price of theirs token or uses fashion to rob investors.
Also check: Create your own investment strategy
A full list of projects and the interest rate on the best deposits in USDT you will find in the graphic below:
The annual interest rate on USDT deposits (tether token corresponding to the US dollar) is visible in green.
Some of these deposits are term deposits, others have no requirements as to the duration of the deposit. However, to get such a high interest rate, as seen in the graphic above, often additional conditions must be met.
We will look at the recommended project in the next articles NEXUS and we will explain in detail how to set up a deposit in euros using a traditional bank transfer and the token corresponding to the US dollar.
The best deposits in cryptocurrencies
Interestingly, these types of services are not limited to traditional currencies (such as the euro or dollar), but also include cryptocurrencies.
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This, of course, involves the risk of losing funds in the event of the company's insolvency, in which we will establish a deposit, but the best deposits in cryptocurrencies are also very high interest-bearing.
The graphic above shows the maximum annual interest rate for bitcoin kept on deposit.
Since you are anyway hodlerami and you hold a long-term cryptocurrency while waiting for its price to increase, you have the opportunity to multiply the amount of funds you have by keeping them in deposit.
As you can see, it's worth to be interested in earning opportunities deposits in so-called Defi. However, you should remember to read the terms of service carefully, check the credibility of the service provider carefully and be sure to diversify your resources.