Crypto.com finally got around to staking my 500 MCO sometime last night. This opens up 18% interest on CRO deposits. Naturally, I bought up the minimum 10,000 CRO to start my savings. I had to jump on it today. Crypto prices seem to be on the rise this morning. It would cost much more to wait.
Crypto.com pays out interest weekly. Deposits, at maximum interest, are locked up for 3 months, kind of like a CD. After that I can redeposit the 10,000 CRO and the interest earned for what is effectively compounding interest.
In many ways, the market crash is a bad thing. However, it has been a great opportunity as well. It has allowed me to take advantage of some great bargains to help me get started on long-term savings.
I'm a bit bullish this week because getting liquidated, like many people were, doesn't mean that they are liquid. It takes a day or two for transactions to settle and to be able to start moving money around. So, I expect today to be the start of people who were liquidated to be able to access their funds to buy back in to the markets. At this point, COVID-19 is still a problem. However, there are no more surprises left. I don't expect that we will have any major developments from here on out, just more of the same. Lots more of the same.
Posted via Steemleo