Updated: May 15
After talking with a friend I decided to change the name of this post from Best Savings Technology in the World to Emergency Fund (EF). I would recommend everyone shifting their EF to a Stablecoin.
As Mark Yusko said on the Crypto Conversation, Bitcoin is the best savings technology in the world. I agree with him and want to provide you some information to help you make a decision.
Yesterday, my Podcast of the Day was The Pomp Podcast [Anthony Pompliano] - #539 Jeremy Allaire on USDC’s Incredible Growth. USDC is USD Coin, a Stablecoin ranked #14 on Coinmarketcap with a $11B market cap and can be acquired on several platforms like, Coinbase Pro, Kraken, Celsius, Abra, Voyager, BlockFi, and Nexo for those in the US.
USDC maintains its peg to the US Dollar 1 for 1; hence "stable"coin. This makes it an attractive tool for those who desire to trade in and out of digital assets like Bitcoin. Instead of transferring money from a financial institution like a bank, which could take days to complete, with Stablecoins you can simply move in and out of a trade within minutes.
In addition, because Stablecoins are in high demand, they can carry a very attractive yield on platforms like Abra (10.50%), Celsius (10.51%), Voyager (9%), BlockFi (8.6%), and Nexo (8%). I believe that anyone who is currently holding USD in any bank should seriously consider moving those funds onto one of the above mentioned platforms. Why?
Think about it. What are you currently earning on your bank savings account? Well, let's take a look at what Bankrate.com says? There was not one account with even a 1% return; all were half that mostly. So basically the money you hold in a bank savings account is earning you zero. Some will say but it's not FDIC insured - when was the last time anyone used FDIC insurance? Never? USDC is an audited Stablecoin and heavily regulated.
I do realize most people need to have money in a checking account, but for those who have 5 figures or more sitting on the sideline because you don't want to invest in the stock market and have no other place to put it - you should strongly consider digital assets like Stablecoins at a minimum and Bitcoin or Ethereum as a better LONG TERM alternative.
If you have any questions let talk, you can reach me on Twitter @_CryptoCurator or on Telegram same. I despise email but if you just have to use it - shoot me a message at firstname.lastname@example.org.
Thanks for reading and good luck!