Terra Luna’s UST and TRON’s USDD may have seemed unstoppable when the sun was shining. But when it starts to pour – only the projects that havewill weather the storm. Those with cracks will waterboard and may never recover. As was apparent when UST crashed and may yet become apparent if USDD follows in its footsteps.
In fact – all forms of emotional trading is a BIG no. Learn to manage your emotions. Downturns in the crypto market can be emotionally challenging. If you’ve lost money in markets, you may be tempted to revenge trade to get it back. This is a sure-fire way to get burnt. When things go pear-shaped, lessons are learnt, and people build back harder. Bear markets are times when projects with little utility fail and those that can actually make a difference begin to shine.
This means the average savings account rate of 4.88% in SA can barely keep up with inflation currently over 5.8%. OVEX was the first to offer a stablecoin savings accounts in SA which has proven popular amongst the exchange’s investors looking for a low-risk/high-yield solution even in this uncertain environment.Stablecoins are a type of cryptocurrency whose value is tied to an outside asset, such as the U.S. dollar or gold, to stabilize the price.
What is more; stablecoin interest is paid out daily compared to traditional finance’s monthly repayments. The withdrawal period is only 14 days compared to the months one is accustomed to in traditional finance. The annual percentage rate of 8.5% can go as high as 14% in some cases which is dependent on the users deposit size.
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