Quote:
Originally Posted by Dadhawk
Thanks for the clarification. I believe most people consider cryptocurrency as a valuation type platform, not an interest bearing platform, hence my confusion.
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No worries, it's all new!!
I use them to hold US dollars I want to keep liquid and accessable. You buy USD Coin with USD. USD Coin is a crypto like Bitcoin except it is always $1. So it keeps it's value and is backed by an $8 billion company that works closely with the IRS. So trustworthy...for crypto lol
But I earn 6% a year on my Bitcoin and 8.6% a year on my USD Coin. And it's easy to send back to your bank if you need dollars.
I just spend Bitcoin now. I have a visa card that allows me to spend BTC or other crypto. 3% (cash) crypto back on all purchasing. Paid my IL state taxes this year with it.
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