My buddy wants to take out a home equity loan

Question

My buddy wants to take out a home equity loan

against his house to the tune of 150k-200k usd. He wants to stake it on anchor protocol with ust and earn something like 18-19%. His intent is to use the staking profits to basically cover his monthly mortgage payment. Is this feasible?

#blockchain #cryptocurrency #english #link

0

13.02.2022

7 ответов

24 просмотра

E. S.

super risky if tether ever defaults

0

13.02.2022

MR. LaHLoH

E. S.
super risky if tether ever defaults

Extremely risky true that ! 👍

0

13.02.2022

Jimmy Krypto Автор вопроса

Close, but ust is Terra stablecoin. Tether is usdt

0

13.02.2022

E. S.

Jimmy Krypto
Close, but ust is Terra stablecoin. Tether is usd...

sorry - misread in that case, but the reasoning stays the same. to give you a sample: in the time before the subprime crisis a lot of foreigners thought they were clever when opening savings accounts with banks in iceland which yielded 8% APY back then looking aggressively for deposits, when iceland's financial industry defaulted on back of subprime crisis and wasn't bailed out - foreign saving accounts were not secured and a total loss.

0

13.02.2022

E. S.

jimmy hope your friend dodged the bullet

0

11.05.2022

Jimmy Krypto Автор вопроса

E. S.
jimmy hope your friend dodged the bullet

He ended up not doing it praise allah

0

11.05.2022