I got a notification from my Finder app saying they're upping the interest rate for the stable accounts to 6.01% until the 1 November 2022 for balances above $5,000
interest is accrued daily
DO YOUR OWN RESEARCH!!!
NOT AS SAFE AS A SAVING ACCOUNT WITH A BANK!!!
See this previous deal post on how Finder Lend works.
We are open about Finder Earn taking advantage of a unique category of cryptocurrencies called “stablecoins”. When you lend us your capital, you transfer ownership of the TAUD stablecoins to us. In the case of TAUD, it’s “pegged”, “backed” or “collateralised” against AUD, digitised in the blockchain ecosystem. However, stablecoins are not official currencies, nor are they endorsed or insured under any government guarantee program. The financial world as we know it is changing and we are giving Aussies a chance to participate in this new ecosystem.
Only a fool would put money into this.
I'll.do it for.20 percent
Yeah, should work out USTingly.
Can't even say '@rektrading has entered the chat' anymore
Where is he?
Went long on lettuce just as the lettuce crash of 2022 happened.
Lol who has more than $5k in crypto left
Somebody who had more than $100k last year
Can we ban crypto shills?
when rug pull?
"Sorry, we got hacked", "Withdrawals suspended", "Sorry, owner disappeared with funds", "Unbacked tokens issued", "Tokens were never backed", "We made bad investment decisions with your funds", "Legal action pending", "You need to verify your account" (again), "We have frozen your funds due to blockchain analysis revealing they were previously used for illegal activities - prove otherwise", "Provide proof of your income to demonstrate you deposited legitimate funds", "token delisted", "the new owners will no longer honor the tokens we issued", "exchange offline".
All prizes you could win with crypto investment roulette 2022.
why are the mods allowing this
This is basically gambling
Binance usdt is paying 10% why would I put money into this.
That's only for $2k.
Hahahaha stable.
That is proven BS
Nothing is stable even AUD is not stable…………LOL
Endless money blackhole
literal ponzi scheme
Wen “we have made the difficult decision to temporarily suspend withdrawals?”
I will give you 6000% daily, sorry no withdrawals…
Load of crap
Celsius has entered the chat…
but no withdrawals…
I'd use Celsius as an example and not run the risk - From someone who lost a lot on Celsius
how much?
Probably $100. The Ozbargain standard 😂
That $100 will feel like $1m to any ozbargainer
Shill harder.
Not a bargain, it is a high risk venture with no guaranteed savings.
If you’re a Finder Earn member, your daily payouts are not dependent on how Finder Wallet uses the capital or the revenue the company may generate from it.
Finder Earn is our way of investing into our members. It’s part of the Finder platform - not a standalone product, that helps members save and make money that we’ve been running for the past 15 years.
This means there will be some months where Finder may generate a return for itself and others where it may not, but in all cases, it’s worth giving our members the fixed return to grow our brand and member base. It is not dependent on the performance of the cryptocurrency market.
We recognise this is a new way of putting capital to work and we have invested significantly to ensure this offering works within the current regulatory environment.
“your daily payouts are not dependent on how Finder Wallet uses the capital or the revenue the company may generate from it” this is exactly what Celcius said, and then they proceeded to take massive risks with members capital and pay themselves massive salaries until they blew up and took member deposits with their collapse.
“Finder Earn is our way of investing into our members“ No, members are investing in Finder… you have it the wrong way around. Nice try.
OMG I still can't figure how the masses would believe in mining coins by using computer power to solve complex maths algebras.
But again it's in the human nature that's why we also had the Dutch tulip bulb market bubble and the BNPL bubble (the later which I partake)…
Also why don’t you have a PDS for this financial product?
The basic purpose of getting you to deposit crypto instead of AUD is to avoid having to become an ADI and all the regulation, depositor protection and risk management requirements which go along with it.
https://www.rba.gov.au/publications/bulletin/2011/dec/pdf/bu…
There are several layers of protection offered when depositing with an ADI, none of which are offered with this mob.
"Stablecoins" lol… nice PR