However, I have a very hard time, determining the level of risk I am taking by depositing GUSD through Earn on the Gemini platform. If first friend awkwardly offered to buy drinks or somehow otherwise make me partially whole, I'd probably feel better about it. To that end, the 8.05 APY offered thru Gemini Earn is enticing (as are other offers on other platforms).I feel very confident in assessing the risk of GUSD itself and its peg to 1.00 USD. I'd also probably be extremely hesitant to do future trades with the first friend. I'd probably also feel mad at myself for making that second trade. It would make me think less of both friends, but mostly the second one. Assume in this scenario that all of you are friends, but that the other two are better friends with each other than you. The second thing kinda sounded like a risky proposition to begin with. Second friend hasn't returned with my comic books, and it's looking like he might not ever come back.ĭoes the first friend with my $500 owe it to me to give me my money back? It's kinda murky territory. Once he returns, he would give me all of my comic books back and a couple extra from his trip. Another friend told me that if I let him borrow all or some of the comic books for an overseas trip. Seems more like I gave my friend $500 and he gave me $500 worth of comic books in return. So let's say more and more investors use Gemini from now on, Gemini has to increase its reserve to match overall customer holdings? And the fiat and digital are stored off the exchange so that in the event the Gemini Exchange collapses, they are able to refund us ? But then again if the exchange collapses, what are they gonna use as a medium for the fiat / digital assets transfer? Gemini holds customer digital assets in accounts that are segregated from our assets. We do not do anything with your digital assets unless explicitly authorized and directed to do so by you." I cant say thats the same with actual crypto earning in other assets goes. Gemini holds customer fiat currency in accounts that are segregated from our business, operating, and reserve bank accounts established specifically for the benefit of Gemini customers. We do not do anything with your fiat funds unless explicitly authorized and directed to do so by you. At least for GUSD your risk of losing your entire investment (at least in so far as the risk assessment reads) is pretty minimal. Its also possible Genesis loses everything and Gemini makes your principle and interest disappear. For example, if you use a cryptocurrency exchange to lend GUSD, and that exchange suddenly shuts. By Cryptopedia Staff Updated Ma 3 min read Summary Here, we describe the Gemini Dollar (GUSD) and discuss how GUSD differs from other stablecoins. dollar-backed stablecoins to gain approval from a U.S. This means that all customer funds held on Gemini are held 1:1 and available for withdrawal at any time. 8 APY is no joke, and its possible that GUSD Earn is going to get you a higher return (across several years) than an individual stock, a balanced portfolio, or indexing. Nothing in the world of crypto is completely free of risks. The Gemini Dollar (GUSD) is among the first U.S. "Gemini is a full-reserve exchange and custodian.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |