It's not easy to make money in the crypto bear market, especially if your money is sitting on the sidelines waiting for an entry. Let's walk through how I'm currently earning around 8% APR by supplying a stablecoin (in this case, $DAI), to an Ethereum protocol called Compound Finance.
And no, this is not another BitConnect, and no, this is not a sponsored video and there is no referral link. I just think this is a pretty damn cool way to make some extra money during the crypto bear market, or just in general.
In this video, I'll walk through what I'm doing, why I'm doing it, and the potential risks.
What you'll need:
- A MetaMask account, loaded with ETH
- A place to buy DAI, I used https://instant.airswap.io
- Once you have the DAI in your MetaMask account, head over to https://app.compound.finance/
- Click on DAI within the App and select the amount you'd like to supply.
**** This is not investment advice and there are potential risks utilizing emerging technology and protocols. I am not a registered financial adviser and you should not consider this to be financial advice.***