This was posted 2 years 7 months 17 days ago, and might be an out-dated deal.

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Earn 4.01% p.a. Fee for Lending Your TAUD Stablecoins @ Finder App

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Earn 4.01% p.a. Fee for Lending Your TAUD Stablecoins @ Finder App
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Ceri on 05/04/2022 - 21:12 finder.com.au (147 clicks)
Last edited 05/04/2022 - 22:45 by 1 other user

Similar to this deal, but I want to call out the "Earn" feature more.

Earn a fee of 4.01% p.a. for lending Finder your TAUD stablecoins

Finder Earn lets you earn a competitive 4.01% p.a. return on your capital. Even more, there's no lock-up period, no fees and we pay out each day, creating a compounding effect over time.

How does Finder Earn work?
When you use Finder Earn, you convert your Australian dollars into TAUD stablecoins and these TAUD stablecoins are then lent to us. In exchange for lending us your capital (that is, your TAUD stablecoins), we will pay you a fee of 4.01% p.a.

Features:

  • Compounding daily
  • No fees & forex risk
  • Min balance $25, max balance $50k
  • Not locked in, no min length

4.01% is pretty much unheard of in the past 5 years for Oz savings interest rate.
Best part is there's no minimum income or like 5x transactions required every month to get the rate.
They work more like cyrpto/stable-coin staking though, because Finder isn't ADI (Authorised Deposit-taking Institution) thus not guaranteed by APRA.

Other Finder app features:

  • Free credit score
  • Track spending & net wealth (link bank accounts)
  • No fee BTC/ETH trading from $5
Financial Cryptocurrency Lending Stablecoin

Related Stores

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closed Comments

  • vchung916 on 05/04/2022 - 21:21

    What factors determine the exchange rate from AUD to TAUD? What about the risk of TAUD depreciating against AUD?

    • Ceri on 05/04/2022 - 21:24

      From the site:

      No fees or foreign exchange risk.
      There's no fees when using Finder Earn, whether you're adding funds, converting, allocating or withdrawing capital. Convert your dollars or TAUD at an exchange rate of $1 AUD = 1 TAUD

      Looks like it's always 1:1

      • CacheHunter on 05/04/2022 - 22:00
        +6

        No-one has ever gotten around the simple law of finance that risk and reward go together. Low risk, low reward (eg bank account) or high risk, high reward (deals like this).

        How is Finder earning the money to pay 4%, plus covering their costs and making enough profit to be worth their while? If they're taking risks, what happens if they lose some or all of the "capital" that people are lending them? Simple, they'll go bust and investors say bye to some or all of their money.

        I'm not saying don't do it. We all take a risk every time we cross the road and there's much riskier financial products out there. Just know that if the interest rate is better than a bank, you are taking a risk that may, or may not, go your way.

        • lulzenberg on 06/04/2022 - 05:38
          +1

          I get where you're coming from here, but 4% PA is not a 'high risk' return amount. One could look at it being "800% greater return" when compared to something like a Up Bank saver with 0.5%, but even your average low-risk portfolio returns more than 4% PA.

          • rokufan on 06/04/2022 - 21:15
            +1

            @lulzenberg:

            … but 4% PA is not a 'high risk' return amount.

            That's the problem here. It's high risk, but low return.

            The primary risk here is the creditworthiness of Finder. You are an unsecured creditor at the back of the queue. I think 4% is a lousy return for such a risk.

            • lulzenberg on 07/04/2022 - 00:40

              @rokufan: You're repeating exactly what I said, but I guess that means I could have said it better.

              This isn't the return amount you'd expect for something 'high risk' - this isn't a 'high risk' return amount. It's a very average amount for something that would be considered safe, and I was attempting to highlight that against what some people may be comparing it to, which are banks at 0.5% - an extra 3.5% isn't worth this risk, regardless of it being 800% of what is available at present, in what most people consider a 'safe'/low risk way of investing/keeping money.

        • Ceri on 06/04/2022 - 08:35

          Yes obviously it's not a bank, which I also outlined in the post that it works more like stable-coin staking and Finder isn't an ADI, thus you're not covered by APRA.

          And obviously people can take the route of ETF & shares or even margin, options, crypto, NFTs etc which potentially would yield even higher return too.
          There are also tons of options in between like Spaceship, Raiz etc so this is really just one of many methods people can use.

  • BargainBuddy on 05/04/2022 - 21:21
    +6

    Celsius & Nexo gives more than 7% on USDT, USDC, etc.
    Crypto.com gives 6% upto 30k on TAUD, and on any US dollar Stable coins

    If you are open to risk,
    Most stable coin yield farming gives approx 10%
    Terra - anchor gives 19.5% on UST

    • Ceri on 05/04/2022 - 21:28

      crypto.com sounds pretty good then. I'll have a look at it.

      I tried celsius and still have some $$ with them, but there are fees associated with sending money in and out. Having to go through ftx to get the lowest fees etc and the whole thing was pretty painful. This was much simpler in comparison.
      I'm definitely not a big crypto trader tho, pretty noob there..

      • BargainBuddy on 05/04/2022 - 22:10

        I got carried away when typing the comment. CDC gives 6% upto 30k on 3 months term. It's used to be 6% flex and10% fixed 3 months. They f*ed the rates last month.

      • Lucille Bluth on 05/04/2022 - 22:34

        but there are fees associated with sending money in and out

        Only into Celsius. Celsius offers free unlimited withdrawals.

      • Allaboutdiscounts on 05/04/2022 - 22:55
        +1

        Celcius is f*cling pain in the ass. There should be option to direct withraw. I have celcius coins and i am not able to figure out way to withdraw.

    • bobwokeup on 05/04/2022 - 21:37
      +1

      I get 8% on TAUD for 3 months

      • [Deactivated] on 05/04/2022 - 21:45
        +2

        it's halved after 30k USD from 8% to 4%, and that's with a 3 month lock. so beyond that it's better to be with finder and get 4.01% without a lock rather than 4% with a 3 month lock with CDC.

        • bobwokeup on 05/04/2022 - 22:17

          Yeah damn I just had a look at my old ones locked for 3 months and was getting 12%. Time to withdraw and go to FTX at 8% not locked.

        • Ceri on 07/04/2022 - 08:40

          ah yeah I was just looking at crypto.com and the flex rate is pretty low at 1.5%-3% on TAUD? Not saying the 1 or 3 month rate isn't good, but I prolly won't remember doing it every 3 months too lol.

          Also to maximise the rate it seems that you need 40k USD CRO staking? Even the $4k USD seems pretty high.. Esp assuming CRO is more like typical crypto (like cel from celsius) and not a stable-coin?

    • [Deactivated] on 05/04/2022 - 21:47
      +1

      that 19.5% on terra anchor won't last forever (yield reserve getting slurped like a mango smoothie), and you do take the risk of a defi protocol - exposure to hacks/exploits etc, but nothing in the ecosystem even comes close to anchor so +1 for that.

      • BargainBuddy on 05/04/2022 - 22:17

        Anchor will be a good ride until it lasts. And I hope something else will take it's place when it ends. Anyway thats a problem for another day :)

      • Ceri on 07/04/2022 - 08:42

        How long do you think it'll last? Like few months? or a year or 2?
        Is it still worth joining now or too late?

        • [Deactivated] on 07/04/2022 - 12:13

          the 19.5% won't last too long, maybe 6 months I'd guess. but the Terra/Luna foundation can even top up the yield reserve like they did in feb by 500M. Or the interest rate will be reduced, I'm guessing by 1.5-2% a month.

          Not too late to jump in but I wouldn't be balls deep as it is a defi chain end of the day, much much higher risk than equities, banks, and cefi staking like CDC or Celsius. You could've bought into UST a month ago to stake on anchor. and just within this month aud/usd moved dramatically. that already would put you into negative territory. and that's excluding the 0.5% spread buying UST on Binance from aud.

          • rektrading on 07/04/2022 - 12:40
            +1

            @[Deactivated]:

            that's excluding the 0.5% spread buying UST on Binance from aud.

            Noobs buy UST.

            Degens buy LUNA > bLUNA > UST.

          • Ceri on 07/04/2022 - 17:46
            +1

            @[Deactivated]: Ohh thanks a lot for the insightful reply!
            6 months sounds pretty short for the effort but I might just try to find out for the learning :)

  • modded on 05/04/2022 - 21:26

    Daily compounding boosts the return from 4.01% to 4.09%.

    • Ceri on 05/04/2022 - 21:31

      I actually just checked this and you're spot on haha. For some reason i expected higher, perhaps longer timeframe?

  • jetabe on 05/04/2022 - 21:59
    +2

    If Finder Wallet, or the third party becomes insolvent, or is subject to hacking or some other cyber security event, your Cryptocurrency may be jeopardised and you may incur partial or total loss of your cryptocurrency.

    if Finder becomes insolvent, you will be an unsecured creditor in relation to your Allocation, Cryptocurrency or Fiat currency held with us. Your capital is also not protected under the Financial Claims Scheme (FCS).

    • Ceri on 05/04/2022 - 22:20

      Yeah it does sound bad at a glance, but this technically applies to typical digital crypto wallet too?

      • Lucille Bluth on 05/04/2022 - 22:36

        Only if it is a custodian wallet. Having it on a ledger or trezor you hold the keys but then you aren't going to earn interest on your stablecoins

  • [Deactivated] on 05/04/2022 - 21:59

    Do we have to pay tax on this? 😏

    • [Deactivated] on 05/04/2022 - 22:08
      +4

      ATO has entered the chat

    • Lucille Bluth on 05/04/2022 - 22:38

      KYC is required

    • twocsies on 05/04/2022 - 23:03
      +1

      According to my understanding, the 4% interest would be taxable. Finder says this:

      #4. Complex tax advice risk
      Buying, selling Cryptocurrencies for profit, and receiving a Return raises novel taxation issues. You will need to be prepared to talk to a tax adviser if you use our services. We suggest you seek independent taxation advice prior to purchasing Cryptocurrency or earning a Return.

    • yk300 on 06/04/2022 - 08:33

      yeps. from my understanding, it is charged as income tax.

      • proudwanderer on 06/04/2022 - 09:22

        Only when you convert TAUD back to AUD right?

        If you just leave it in there, that would be equivalent to buying shares and holding it - i.e. no capital gains until you sell it

        • bobwokeup on 06/04/2022 - 09:29

          Not quiet as when you convert it’s 1:1 so you still pay tax on the interest earned, like dividends.

          • proudwanderer on 06/04/2022 - 09:32

            @bobwokeup: But the interest is still in TAUD (a cryptocurrency). You aren't paid in AUD (Fiat).

            So do you still have to pay tax if you simply keep it in the cryptocurrency and not convert it back to AUD?

            • bobwokeup on 06/04/2022 - 09:35

              @proudwanderer: Good point but I dare say you still need to pay tax on it if it was earned in that financial year. It would be too hard to calculate at the time you convert it as it could be years later. You know our government any chance to tax is they will.

        • yk300 on 06/04/2022 - 10:41
          +1

          TAUD -> AUD attracts CGT as it means you are disposing of an asset. In this case though, it is 0 as the asset does not appreciate in value (in theory).
          Interest from staking and the likes attracts income tax, calculated on the AUD value at the time of earning.

          Say you own 1000 TAUD and earned 10 TAUD as interest. 10 TAUD is valued at 10 AUD and 10 AUD is added to your taxable income. You sell your 1010 TAUD and pay no CGT tax as TAUD hasn't appreciated in value at all.

          Ofc, check with your accountant - things get trickier with more volatile coins/tokens.

        • Nom on 06/04/2022 - 13:29
          +2

          There isn't going to be a capital gain (or loss) because you get back the same amount of AUD that you put in.

          But there is going to be an Income tax obligation - the interest TAUD payments are taxable as income.

  • ph81 on 06/04/2022 - 00:58
    +1

    Buy TAUD on CDC and transfer to Celsius if you have a reasonable amount (read over 5 figures) as CDC are thieves when it comes to withdrawals. Celsius give you 7.10% interest compounding and have fee free withdrawals and you get paid interest weekly on a Monday.
    Doesn't really matter if you use CDC or Celsius, you'll make a far better return than having in a bank.

    • LuckyL on 06/04/2022 - 01:29
      +4

      Cannot transfer out TAUD from CDC now.

      • ph81 on 06/04/2022 - 06:18

        What? That's absolute garbage! Do you happen to know why they did that?
        I did notice a few months ago they had the withdrawal fee set at a stupid high rate. I suspected they were doing it in spite of Celsius.

        • Nom on 06/04/2022 - 13:27

          Probably because everyone was "buy TAUD on CDC and transfer to Celsius" as you mentioned in your post 😁

          Why would they help the competition ?

          • ph81 on 06/04/2022 - 13:38
            +1

            @Nom: True. But CDC also made their own product for it and it sucked compaored to Celsius. I guess they effectively took out their competition.

    • Devil on 07/04/2022 - 11:16
      +1

      @ph81 How are you buying TAUD on CDC?

      I don't even see it as a listed coin.

      • bobwokeup on 07/04/2022 - 12:02
        +2

        Yeah it’s weird isn’t it… Go to Fiat Wallet > Buy Crypto > search for TAUD.

        • Devil on 08/04/2022 - 21:12

          Thanks for that! Weird that you can't just search it in the normal list.

          • bobwokeup on 08/04/2022 - 21:31

            @Devil: Yep a lot of things about their app is weird haha

      • ph81 on 07/04/2022 - 14:32

        They must have removed it as an option now. Not much has been said in CDC telegram and they appear to ignore the questions about TAUD. To big to care now I guess. I think that happened when they started advertising.

        EDIT: I just checked my CDC app and can still buy TAUD. Or at least the option is there.

  • jwsc on 06/04/2022 - 07:32
    +1

    Dumb question, what is CDC?

  • Grok on 06/04/2022 - 08:42

    Is the money you put into this app covered by the Federal Governments bank guarantee scheme?

    🤣

    Run, don’t look back!

    • AaronR on 06/04/2022 - 09:56
      +2

      This type of earn suits the risk tolerance of certain people and their portfolios. I actually think it’s a terrible deal for what it is, but you’re not being helpful.

      I can post a list of the various stablecoin earns and conditions behind them if anyone is interested? Much better deals than Finder out there and I’ve put a significant amount of time into collating the info for my personal use.

      Is that useful to anyone? Better suited to a forum post? Not even sure if it’s allowed as it may constitute financial advice.

      • proudwanderer on 06/04/2022 - 09:58

        I'd be interested - if you don't mind sharing :)

        • AaronR on 06/04/2022 - 10:03

          I’ve just flicked through it and realise there may be a bit too much info here. Tricky to get into a simple post. Might throw together a basic webpage for it.

          Gimme a few days. About to go in for surgery but I’ll check this out while recovering :-)

      • jwsc on 06/04/2022 - 11:17

        also interested :)

  • Cluster on 06/04/2022 - 10:51
    +2

    Who are these people borrowing TAUD for more than 4%? There are much cheaper sources of money out there for your gambling. I mean, trading.

  • wannagrababargain on 06/04/2022 - 11:04
    +1

    When you use Finder Earn, you convert your Australian dollars into TAUD stablecoins and these TAUD stablecoins are then lent to us.

    What I don't understand about "borrowing" of stablecoins is what exactly do they do with the coins? Where are the mortgage markets for TAUD? It's not like anyone can finance a car on a TAUD smart contract, and even if you could it would be a very inefficient and costly way to finance a car. It seems that the only activity in crypto is 'providing liquidity' for other people to speculate with or perform arbitrage. This all that Finder seems to be doing with the borrowed TAUD - 'investing in global crypto markets.' IMO just arbitraging between different rings of a ponzi scheme. This reminds me of the "High Yield Investment Products" of the early 2000s internet. Somehow in Australia this is not classified as a Financial Product. The fact that Finder are putting their name to this blows me away. If this blows up then the 'Finder' brand name will become trash.

    With a normal regulated bank you deposit your AUD and you are essentially lending them capital (at least Finder tells it like it is) to become an unsecured creditor to the bank, your deposit is allegedly insured and the bank uses your credit as a (fractional) reserve to generate loans in AUD. The loans they generate are mortgages for houses and businesses, which are supposedly also highly regulated in lending responsibly by APRA and ASIC.

    • Nom on 06/04/2022 - 13:25

      The fact that Finder are putting their name to this blows me away. If this blows up then the 'Finder' brand name will become trash.

      So then you must conclude that Finder are very confident in this product.
      You've just listed a pretty strong endorsement…

    • Grok on 06/04/2022 - 13:33

      It seems that the only activity in crypto is 'providing liquidity' for other people to speculate with or perform arbitrage.

      You mean it’s a Ponzi scheme?

    • rokufan on 06/04/2022 - 20:53

      Agree. The founder of Finder is a crypto believer. If they are using the funds to play the crypto market they have turned part of the business into a crypto hedge fund. Not a good look for a comparison website.

    • rektrading on 06/04/2022 - 23:37

      Somehow in Australia this is not classified as a Financial Product.

      The Australian regulators aren't classifying crypto as financial products because they're stuck up as the SEC. They use common sense which is something the clowns at the SEC don't have.

    • rektrading on 06/04/2022 - 23:45
      -1

      your deposit is allegedly insured and the bank uses your credit as a (fractional) reserve to generate loans in AUD.

      Legacy banks don't have to keep a reserve. They have a licence to print as many loans as they want.

      • wannagrababargain on 11/04/2022 - 09:17
        +1

        You are right. By law there is a 0% reserve ratio in Australia and behaviour of Australian Banks in particular have a lot of shenanigans to answer for, as exposed by that banking royal commission that everyone has conveniently forgotten about because of a pandemic. And I believe there still exists a grey area regarding if deposits can be 'bailed-in' in Australia…so I would agree that depositing in a bank is not zero-risk despite what the 'legacy' banks want to make us pretend to believe. However I am reminded of a quote from a recent South Park episode "ya know — It's the future — we've all decided centralized banking is rigged, so we trust more in fly-by-night Ponzi schemes."

        • rektrading on 11/04/2022 - 10:03

          I trust immutable and open source code more than I trust legacy banks and the people that run them.

  • MattL on 06/04/2022 - 23:10
    +1

    19.53% interest on UST on Anchor Protocol

    Super easy to set up if you have basic knowledge of Crypto, less risk, can buy UST straight from Binance and start staking for a couple of dollars in fees, auto compounding, and no lock-in

    • rektrading on 06/04/2022 - 23:30

      👴 citizens that call +4.01% APR high risk are NOT ready for DeFi and +19.53% APR.

      • [Deactivated] on 12/05/2022 - 00:46
        +1

        aged like cheese, check UST.

        • rektrading on 12/05/2022 - 00:57

          It's still +$19.77% APY.

    • [Deactivated] on 07/04/2022 - 12:16
      +3

      There's other risks, it's not all butterflies and rainbows. chain hacks, UST depeg, currency fluctuation etc.
      This is coming from someone that's been staking into anchor for 7 months.

      • [Deactivated] on 12/05/2022 - 00:45
        +1

        called it

      • Nom on 12/05/2022 - 23:00
        +1

        This post is GOLD 👍

        • [Deactivated] on 12/05/2022 - 23:18
          +1

          some might've called me pessimistic for thinking that way but you do have to consider the risks of defi, and especially a stablecoin that's algorithmic rather than cash/escrow backed like TAUD.

          I hope it re-gains peg for the sake of people who are losing lots of money. But regardless this will be still a lesson!

  • zooter on 02/05/2022 - 16:36

    With crypto.com shitting itself like a baby last night, this seems like a great deal for Aussies looking to park their TAUD assets

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