Could we hold $15,000 Tether (USDT) in 11 more weeks?
Hello and welcome to this SPinvest post
SPinvest is a tokenized investment fund/club for all users of social blockchains. Everyone is welcome! The concept of SPinvest is to get rich slowly by using time tested methods of earning, saving and compounding long term. This lets SPinvest offer an ROI of 20% per year on SPI tokens. We encourage long term investing on and off the blockchain. We hope someday everyone will HODL some SPI tokens that can be bought directly from @spinvest are through the steem-engine are dex.steemleo exchanges.
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Nexo.io
Last Monday, SPinvest had its first STEEM power down which has been converted into Tether and is currently being staked on Nexo.io earning 8% per year. We can convert all power-downs into tether until the complete power down is finished. By this time, we should have decided how to reinvest all that money whether it is into HIVE, bitcoin, stocks, gold are whatever. Suggestions for off-platform investment are very welcome but please keep in mind that front end tribe tokens, gaming tokens are any other form of magic beans are not really within SPinvest investment range. Time tested investments with consistent incomes/return will beat whatever is flavour of the month/year.
Gold pays no dividend for holding it, but for a 30-year investment, i would take 1 oz of gold over 1 BTC any day of the week based on the simple fact that i know 100% that gold will be worth something in 30 years. This is how i think of investments long term. Anyways, this post is about Nexo and a short 13-week term.
Anyways, let's talk about Nexo.io and why i decided to pick this platform over the celsius platform we are using to HODL out Bitcoin on. There are a few major differences between these platforms. Celsius is an app only, no browser version so that means i can only access on my phone. Celsius will pay out interest weekly on most top cryptos and stable coins at decent rates. Nexo is a browser which is easier to access and safer i believe (somehow). Nexo only pays out interest daily for stable coins only.
For us converting STEEM into Tether for 13 weeks, Nexo is better for us as it's browser version, pays out a better rate at 8% and lets us compound interest daily. Navigation of the site is very simple and you're not even required to stake your coins. They are automatically staked on deposit which is handy. We have earned 5 interest payments so far with the next coming in a few hours. They are small amounts but you can actually see if you look hard enough that the interest amount increases by a measly $0.00006 every day.
You can see that the first 2 transactions were deposits of $10 and $1337. The $10 was a tester and the $1337 was the rest of our power down. Below you can see the total amount of Tether we hold. The $1348.63 is our holdings and the $12163.77 is the max amount we can borrow against our holdings.
We cashed out 7500 STEEM to get $1348. The same $1348 today will buy 9000 STEEM so we are already winning in terms of dollars.
Oh FYI. I forgot to say that i put in a few hours of researching, watching videos, going through forums posts and chatting with people about this platform before i decided to use it for us. Nexo has been running from mid-2018, they have solid reviews and there own crypto token. You can find it about 4 spots above STEEM at the minute. They are 100% backed by dollars and the companies mean focus is to offer crypto credit lines instantly for users but they also offer staking, they have a debit card and some other things we're not interested in. It's basically P2P lending that been centralized and the model looks to be solid and a safe place for us to hold funds there for 13 weeks.
Stay Safe folks and Stay inside (when possible)
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Click here to join the SPinvest community over at beta.steemit.com (Steemit Communities)
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@tipu curate
Upvoted 👌 (Mana: 14/28)
Thank you for your article. I will definitely check out nexo.io. I am also considering to get a member of SPInvest, as I follow you for a while and like your concept. Now that Hive-Engine may be starting soon there might be some marketing useful to sell SPI on the market. My idea would be to have a weekly contest post to guess the exact standing of the DAX (the DOW, Or what ever) at a specific timepoint. The closest bet will get the revenue of the post payed out in SPI. What do you think pf this idea? I am open to support also in other ways.
I think you should get started.
It only costs 1 Hive purchase your first vest.
I think it is as low at 10 HIVE to then become a confirmed member.
From there you can join us on discord and we can discuss your ideas further.
As far as selling SPI on the market - it’s a good idea, but the difference between our tokens and other tokens that are on the market is that each of our tokens is backed by Hive Power and off chain investments. This means that there is a specific amount that each token is worth. We found that sometimes steem engine would say our token was worth one amount - when in reality it would be worth something different.
Look forward to seeing you on discord.
And also, when you pay the 10HIVE to join as a confirmed member, the tokens become a part of your stake. We do use them to invest, but they are still yours
Thank you for your swift answer. I already wrote the confirmation of membership article and drafted the first "weekly GUESS THE DOW - win SPI shares" article that will be posted on Saturday, 18th to get tips for Friday 24th. I included (copied) some SPI explanations. I am open to any kind of feedback or ideas to make it better. Hope we will find some audience.
All centralized. I would suggest something like curve.fi - a lot more transparent and you actually know that there is a solid product behind it, and no potentially fake earnings
Or definemoneymarket, for 6.25%, but still more transparent
Thank you for your reply. I'm going to check it out now, I've never heard of it