🧘♂️Earning High Yields through DeFi
Market Meditations | April 14, 2021
Private Discord and Early Podcast Access
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EARLY PODCAST ACCESS
Earning High Yields through DeFi with Psykeeper
CLICK HERE TO FOR EARLY ACCESS ?
Psykeeper is the founder of DeFi protocol, Saffron Finance and has been building in the crypto space for the last 10 years.
Markets work in cycles
Just as prices increase in a bull market, prices will decrease during a bear market. Even if DeFi values trend upwards in the long term, always be ready for medium term decreases.
Consider new DeFi protocols to earn high yields
Currently the high yields in DeFi are being driven by the rewards which platforms provide to their early users, not the underlying economic activity which the platform facilitates (e.g. lending and borrowing). Look for new DeFi protocols, become an early user and you can benefit from these high yields.
Execution is crucial
Ideas are plentiful but most teams lack the discipline and ability required to execute. Focus on projects where you believe the team has this ability to execute.
Nowhere does the market change as quickly as crypto. Be ready to react to rapid changes in the market and focus on projects that continually iterate to solve the market’s problems.
Always look for ways to improve your knowledge
Asymmetry of information produces high risks and high rewards. Continually improve your understanding of markets where knowledge is a barrier to entry and you will benefit from this risk / reward profile.
Binance Smart Chain (BSC) is a great tool for beginners to learn DeFi
Becoming an active user is key to understanding DeFi. Using the Ethereum blockchain is currently expensive due to high fees making it unsuitable for many beginners. Instead, use Binance Smart Chain where you can test DeFi with a small amount of capital.
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Disclaimer: The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision.