If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Private profiles - please note that profiles marked as private will soon be public. This will facilitate moderation so mods can view users' warning histories. All of your posts across the site will appear on your profile page (including PI, RI). Groups posts will remain private except to users who have access to the same Groups as you. Thread here
Some important site news, please read here. Thanks!

Buy more Eth or hedge with USDC?

  • 31-03-2021 6:59am
    Registered Users Posts: 2,235 ✭✭✭ massdebater
    Registered User

    I'm holding most of my Eth and a small bit of USDC in a account rn earning 16% apy and have a bit extra cash that I'm going to add. My plan was to just buy USDC and treat this like a cash account but earning better interest than the bank (only getting 1.5% in my bank savings account rn).

    My question is, am I foolish buying a stablecoin tied to a currency that just got devalued a lot and might go down further in the near term? My alternative would be to buy more ETH which might appreciate better than USDC but is riskier and I already have a decent amount. My only options to buy are Eth, USDC or, USDT. What would you do?


  • Registered Users Posts: 11,386 ✭✭✭✭ Timmaay
    Registered User

    Surely earning 16% apr keeps you well ahead of any dollar devaluing. If the current bull run ends ETH has the potential to devalued a hell of alot faster than the dollar ever could, it went from 1400$ in Jan 2018 to sub 100$ end of that year. I hope to god we'll never see that sort of drop again, but I could well expect a 50% or more retracement at some random stage.