KYCnot.me<\/a> list to find sites to use and cross your fingers they don’t rug you.<\/p>\nThe good news is that, assuming you do KYC, you can earn interest on even the tiniest amount of banked crypto.<\/p>\n
What Are The Options?<\/h2>\n
I spent the last week looking around exchanges and what they offer, trying to find somewhere outside the TradFi framework.<\/p>\n
They’re all inside now.<\/p>\n
The establishment has scared them enough that they comply (MEXC) or simply cut off the service (CoinEx).<\/p>\n
So from what I’ve seen (and I’m not claiming it’s definitive in any way) your options are the same as mine, though I’m not gonna give you advice, of course:<\/p>\n
1. Hold the coins yourself and get nothing
\n2. Move it all into Trading
\n3. Move it into stablecoins for higher rates
\n4. Keep Banking crypto and accept lower rates<\/p>\n
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<\/p>\n
Option 1 is the safest: your keys, your coins. You still get the price rises and there’s no risk, at least until some asshole builds a quantum computer that break everything.<\/p>\n
Option 2 is the riskiest: if you suck at trading, like me, then you could lose a lot.<\/p>\n
Option 3 is lower risk: you’re still on an exchange, but you’re getting better interest rates. I think you’re an idiot for accepting 10% to 15% on dollars when crypto rises faster (the big ones only) but hey, your choice.<\/p>\n
Option 4 is the best in my book: you’re still risking high-trust exchanges suddenly disappearing (low risk, thankfully), but you’ve got your backstop, you’re earning a small amount of crypto, and it’s all in crypto so you get the price rises.<\/p>\n
What I’m Doing<\/h2>\n
Short version: I haven’t changed anything significant!<\/p>\n
![\"giphy.gif\"](\"https:\/\/media2.giphy.com\/media\/v1.Y2lkPTc5MGI3NjExN2Jybm9tNm41bHdieWxqbjBrcDRwanNkYW5nYTEzMmJqczY3eXBkNSZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw\/QCZ8kbNOKrD8S3qrvn\/giphy.gif\")
<\/p>\n
CoinEx is now dead for me. I could VPN it through the Phillipines to get their interest rates but I don’t want to risk it. When even one of the laxest, least bothered exchanges starts shutting things down, it’s time to play safe. I’ll miss their Dual Investment trading. \u2639\ufe0f<\/p>\n
So it’s all at MEXC now, until\/unless I find better somewhere. I’m open to suggestions from you folks, too!<\/p>\n
BTC is now earning 8% up to 0.01 BTC – great for folks with $1 or $10 or even a few hundred – then drops to 0.4% (!!). I have almost that much there, so I’ll leave it to earn for a year or so and put future BTC in my own wallet (Electrum, if anyone wonders). It won’t earn but 0.4% (or even 0.15% for big holders with 0.03 BTC or more) is bullshit.<\/p>\n
ETH also earns 8% up to 0.2 ETH, then 2% up to 0.5 ETH, then 1.3% after that. The best I’ve found for my 2 ETH is Kraken offering 2.34% but they don’t show details unless you’re holding some, so I don’t know if that’s for any amount, requires lockup, or any detail at all. A shitty AI search says it needs lockup, so that’s a no for me. I’ll keep holding mine at MEXC despite the awful APY because I have a lot. It works out as more interest (in ETH, not %) and I want to be able to sell at ATH and re-buy!<\/p>\n
SOL is now earning 6% up to 3 SOL (a surprisingly low limit, less than half the other two), then 3.5% upwards. You can get 5.18% by staking it on-chain instead, but that has the 5-day wait to unstake. But – and it’s a big but – you can trade MXSOL, their liquid token that represents SOL and the rates stay pretty balanced between the two. For 1.5% difference? Yeah, I think I’ll take that.<\/p>\n
![\"giphy.gif\"](\"https:\/\/media3.giphy.com\/media\/v1.Y2lkPTc5MGI3NjExMmN1M2tyNHM2MndoZjU0b21vcGJ1OTFucDQ3dTB5aGwzZ2g1MnBrbiZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw\/qv50XIiLWonsZG9ZNh\/giphy.gif\")
<\/p>\n
I’ll keep an eye on what rates they offer. I can move funds and earn\/stake if they change suddenly.<\/p>\n
I have also added DASH to my Banking list. It earns somewhere between 4% and 7% a year, is stable as anything, sometimes pumps to 50% or 100% profit and is dirt cheap to buy and move. I’m holding that at StakeCube, where it’s on daily earn.<\/p>\n
Have you been hit by this latest wave of establishment control? Sucking it up or finding alternatives? I’d love to hear!<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
I’ve spent the last week looking at Banking again. MEXC now demands KYC in Europe and has “updated” their offers (i.e. made them suck). CoinEx is doing the same with…<\/p>\n","protected":false},"author":3,"featured_media":343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[13],"class_list":["post-342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-midweeks","tag-banking"],"_links":{"self":[{"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/posts\/342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=342"}],"version-history":[{"count":3,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/posts\/342\/revisions"}],"predecessor-version":[{"id":346,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/posts\/342\/revisions\/346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=\/wp\/v2\/media\/343"}],"wp:attachment":[{"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bonjourgeorge.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/p>\n![\"giphy.gif\"](\"https:\/\/media0.giphy.com\/media\/v1.Y2lkPTc5MGI3NjExZ293YzRnMnVqOWwxN2hhMzZudHltcXZ6anE0M2VmM2podWgyM3k1eSZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw\/l0NwCmNGE0QrrX5a8\/giphy.gif\")
<\/p>\n