Turn $1,000 into $1,200 using DeFi
A guided session with Nat Eliason (of Almanack) and Evan Armstrong (of Napkin Math)
When you put $1,000 into a “high yield” savings account, these days you’ll be lucky if you earn enough interest to buy a coffee after a year. The interest rates are just too low to add up to anything, which partially explains why so many people are putting their money in stocks, cryptocurrencies, NFTs, and startups.
But the thing about all these options is they’re pretty risky. It’s nice to find a middle-ground for some portion of your assets, where the risk and return is higher than a savings account, but lower than stocks.
Good news: this is exactly where DeFi shines! In a nutshell you can buy certain crypto tokens and let people borrow them to achieve some pretty wonderful APYs, like 20% or more. This works because the need for liquidity in certain segments of the crypto world is pretty high.
The DeFi world is large, complicated, and also can be extremely lucrative. It’s pretty intimidating to get started: what are the options? What can you trust? How do you get set up?
This week in the Every Discord our very own Nat Eliason is going to teach fellow Every writer, finance expert, and crypto newbie Evan Armstrong how to get started in DeFi. He’ll help him take $1,000, invest it, and start earning interest on it.
Come along for the ride and learn how to do it yourself!
How to join:
- When: September 30th, 3 PM EST
- Where: The Every Discord
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