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

To join our Discord, you’ll need to become a paying subscriber!


Why Subscribe to Every?

If you have any questions or if the $20-per-month / $200-per-year price would represent a hardship for you, reach out! We’d love to work something out.


Like this?
Become a subscriber.

Subscribe →

Or, learn more.

Read this next:

Every

Kate Lee Joins Every as Editor-in-Chief

A note on the future of Every

2 Oct 30, 2023 by Dan Shipper and Kate Lee

Every

Mistral AI Memo Review

New product from us!

🔒 Jun 22, 2023 by Evan Armstrong

Every

Introducing ‘How Do You Use ChatGPT?’

How the most interesting people in the world use ChatGPT to think, create, and grow

4 Nov 15, 2023 by Dan Shipper

Thanks for rating this post—join the conversation by commenting below.

Comments

You need to login before you can comment.
Don't have an account? Sign up!

Every smart person you know is reading this newsletter

Get one actionable essay a day on AI, tech, and personal development

Subscribe

Already a subscriber? Login