MultiversX Tracker is Live!

My financial advisor told me to sell all my crypto

All Cryptocurrencies

by COINS NEWS 150 Views

So I’m not giving financial advice, I’m actually paying someone a yearly fee to get some financial advice. We had our quarterly meeting today and he’s aware of how much I hold in crypto and strongly advised to sell everything as he’s expecting economic troubles on the horizon. He essentially said that as hikes continue to raise and recession fears come to reality, people are gonna sell their risky assets first before the more stable ones.

I tried to explain that instead of selling outright, I can convert a good % of my coins to UST or USDC and use a lending protocol for substantially more APR/APY than tradFi and he was extremely skeptical of any opportunities like this and asked to send him the fine print of these strategies.

This kinda shook me because this is a man who does this for a living and I’m just some internet shitposter who’s gotten lucky a few times over the years in crypto. Yeah I did research and understood what I was buying where I’ve held for years, but there is some luck involved in this space. Are many other financial advisors still super skeptical of crypto?

I’m hoping to show him that even in a down market, stablecoin lending can vastly outperform traditional savings accounts and even index funds.

What do you all think?

submitted by /u/Odysseus_Lannister
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments