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RE: Bellyrubbank, a Bank exclusively for Steemit Users!
The APR is a good return in comparison with traditional banks or even stocks, but when you compare it with other offers provided by other cryptos -- it's pretty low. Sorry, I'm not attracted...
Yes of course it is better than traditional banks and stocks. But having a low APR to start with is a safer way to start the bank.
Other Cryptos might offer something better but keep in mind this is a bit much safer than trading or even other offers.
I rather stay conservative until @bellyrub gets a whole lot bigger.
Than It would be able to offer better % rates.
45% APR is an insanely high return for a deposit account. I'd go so far as to say it's a high risk investment. Perhaps not as high risk as wider crypto, but I think there's a good chance this could go belly up. Not saying people shouldn't invest, but they should be aware of the risks.
Which part of the investment is it you are referring to here? Cryptocoins in general are high risk, STEEM is higher risk than other cryptos, then giving money to @bellyrubbank / @zeartul is added risk again. But is it crypto, STEEM or @zeartul you are referring to here?
All three are risks. There's counterparty risk (trusting the bank with custody of your money), solvency risk (risk that the venture will not be sufficiently profitable to return the intended interest), volatility risk of the Steem Power being held dropping in value etc.
Greetings @cryptoeera, the offer presented by @zeartul seems very beneficial, since I am participating in it!
However, I would like to know what other proposals you know, I have not seen within the platform many offers that exceed this!
BitConnect, Burstcoin Assets, Nexus Assets and so on.
Anyway, even without going to other cryptos; I think just converting the SBD to Steem Tokens would definitely bring more than 45% APR...
Thanks for commenting on this, I have very little knowledge on this subject!
You're welcome.