Naomi pfp
Naomi
@afrochicks
guys i have been in crypto for 3 years and things are still TOO complicated please let me test your products and give honest feedback on how to make it at least sound simpler cos i have an actual crypro use case which i know your products can solve but im tired of feeling stupid all the time here 😭
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Naomi pfp
Naomi
@afrochicks
APYS and staking i have USDC sitting in my wallet which i earn on automatically with coinbase but i know i could earn more with apps like morpho but i dont actually understand what is actually happening and idk if its risky or not so i havent tried it
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gFam.live (UrbanGladiator) pfp
gFam.live (UrbanGladiator)
@gfam
Be super, super, super careful with APYs and staking. Think of it like bank interest. If you put money in the bank and they give you 3% interest on that - that means that they are investing that money and trying to make way more than 3% on their investments. That's how they make money. When crypto products offer huge APYs or staking rates, that often means they are printing more of their tokens to pay the APY rates, which will devalue the overall token (or they're straight up doing a Ponzi scheme). As with anything in crypto, don't invest what you can't afford to lose entirely. 9000 $HUNT
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Naomi pfp
Naomi
@afrochicks
thanks for sharing! again makes sense and will research further
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