Interest on Gemini 🚀 APY is unreal traditional banking is dead.
So I’ve purchased a couple of bags and Gemini I got some Ethereum, some Uni and a bunch of CRV I bought it because it was rising and I wanted to go ahead and cash up fast but for some reason it just crashed on me so rather than taking a loss I’m just holding to maybe hit even or maybe even had a little bit of profit I’m hoping this coin reaches its potential of at least $10 but sadly you UMA was the rising star for today. 🚀
You can see the with the picture below my earnings as one was about $3.80 with an investment of about $56,000 plus that’s still better than traditional banking interest rate so I can tell you that.
This payment was just for one day, and you redeem by trading out the whole balance no fees.
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I was just looking at Gemini Earn. I was surprised to see that their own token isn't listed. However, I can't tell if this is just Texas customers or for all customers. For example, Celsius does not offer stablecoin deposits to Texans because of regulatory restrictions. Oddly, Crypto.com does allow stablecoin deposits. Circling back to Gemini, I though it odd that they don't pay interest on their own stablecoin.
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I assume the interest in paid in the token you hold similar to stacking crypto? If so there is also potential of the specific token price to rise that is not accounted for and will benefit holders in the long run. I agree bank interests is over soon enough.