![]() ![]() I still see the button to redeem on Gemini so you might as well try if can. With that said this is probably like 80 chance withdrawals are paused. They pointed to Genesis and still explained they themselves (Gemini) are working with customers to redeem Earn balances. ![]() Once you review your order you can swipe right to. Enter the quantity you’d like to convert and tap Review Order. Gemini Dollar(GUSD) Staking is a process where cryptocurrency holders can earn rewards by holding their coins in a wallet and participating in the networks. Select the crypto you’d like to receive from the conversion under To. The biggest named hedge funds, some with upwards of 10-50 million $ invested in qyld. They havent said Gemini Earn paused withdrawals. Select the crypto you’d like to convert from the Market tab. Qyld is a covered call etf that hasn’t missed a dividend since inception 5-6+ years ago. Nasdaq will outperform qyld in bull market. Qyld will outperform nasdaq in sideways and bear markets. Also resilience and tenacity for volatility. Steady income in a bull, bear and sideways market. If we had the crash we had last March qyld would drop 20% while nasdaq would drop 50% - I would much rather have qyld for that reason. It is also used to earn crypto yields and provide liquidity in DeFi pools. GUSD is typically used as an intermediary asset where it is traded with USDT, BTC, and ETH. (Don’t believe me? Put in your calculator 1000x1.12 then press enter 5-6 times) Key Takeaways: Gemini USD (GUSD) is an ERC-20 stablecoin that is pegged against the US Dollar and backed by the Boston State Street Bank. It can be an easier path to retirement or atleast less of headache than real estate or other forms of annuities for some.Īlso if you reinvest the dividend and the etf stays the same price you would double your portfolio ever 5-6 years. 11-12% a year is way way better than bonds are at right now and it sure beats having cash sitting in a savings. If you look an qyld as an annuity instead of a growth stock it makes much more sense. Research and speak facts or shut up, dimwit. Yeah, maybe don't talk about things you're uneducated on. So you seem to be saying it's too risky because Gemini doesn't cover it (when they are an intermediary only and aren't involved in the lending process). In exchange, investors will rake in interest worth over 100 times the national average rate of interest in traditional US savings accounts which is currently below 0.05 per year. If the company fails to pay back to loan, does Gemini cover it? I don’t think so? 7.4% for unsecured debt and you don’t know where it’s going or what it’s being used for is too risky, IMHO. Gemini Earn attempts to incentivize crypto investors to buy and hold GUSD. They aren't going to provide collateral to you. The problem is that when you signed up for Earn, the custody of your GUSD got transferred outside of Gemini, so now only that third party has the ability to redeem the GUSD (and most likely has already done so upon receiving the loan). ![]() They aren't some random individual, they're a highly accredited institution that undergoes routine audits and have to report their financials to the SEC. GUSD is still provably redeemable 1:1 to this day as long as you have the tokens. You're lending to them and they're repaying you in interest. I'm hopeful that Gemini sees "owning the market" for US stablecoin as a worthy money loser, so even if Genesis does something to lose the money, Gemini will reach into their deep pockets to keep GUSD Earn stable, but I'm not counting on it.Gemini isn't involved at all in the process, you're lending directly to Genesis (not "others" (spreading misinformation and FUD again), because Genesis is the only partner Gemini works with) so again.I'm not really sure why you would expect them to be required to post collateral to Gemini or you. etc., but I'm skeptical that under a big crunch, Gemini won't pass the buck to us, because they are explicitly reserving that right in the T&C's. We can infer that Genesis at least requires some collateral, as they're not in the business of losing money, and obviously that would jeopardize their standing with Gemini if they lose the capital etc. I mean, sure this might be the case, but also it might not be the case if BTC goes to $20k? It's totally opaque. Gemini Exchange’s Earn product has confirmed support for the GUSD stablecoin, with owners of GUSD able to earn 7.4 annual interest. There is no guarantee or insurance.Īccording to the press releases, the Gemini risk officer said they looked at Genesis and the loans are over collateralized, so they are very happy. They also say you are risking your entire amount. ![]()
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