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"High Interest" Savings account with a legacy bank vs. crypto staking. One month comparison.

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by COINS NEWS 172 Views

I have been dipping my toes into staking over the last month, both with cex's and defi with the ultimate goal of spreading my (meager) savings across assets and using crypto as more of a store of value/inflation hedge as opposed to simply an investment avenue.

My savings account, which has "high interest" in the damn name, provides me with about $0.40 per month with a balance around 5k (yes, I had to pause a hooker and blow party to post this).

One month ago I took around $1500 of that and spread it into a few different staking pools (split between cex and defi). I have earned around $8 in that month.

Had I placed the whole 5k in that $8 would have been around $26.

$0.40 in the "high interest" bank account vs $26 with staking the same amount of money.

Now there's a whole different discussion that could be had about level of risk and interest fluctuations over time and things like that, and that's all viable discussion and something I have to keep in mind as well but it's really hard to look at these numbers and not want to leave the banks entirely and new phone who dis them when they inevitably reach out at 3am one day with the you up? text.

submitted by /u/magx01
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