As my call money with a current interest rate of 3.75% expires in September and will be adjusted to a ridiculous 0.75%, I am currently looking for an alternative.
Either shift everything into the $XEON (-0,01%) completely into the $IWDA (-0,05%) or go back to overnight money hopping. Investments in kind with Timeless are also nice to have but are out of the question for me with 40k and P2P loans via Mintos etc. also have too high a risk of collapse even with the "buyback guarantees".
What do you think, is Firefish an alternative?
Investments via Firefish function as a peer-to-peer (P2P) marketplace for Bitcoin-backed loans. Investors can lend money in the form of fiat currency (e.g. euros, US dollars) and receive fixed interest in return, which is fully secured by Bitcoin as collateral. The borrowers' bitcoins are deposited in non-custodial multisig smart contracts, which means that Firefish itself has no access to the crypto assets. The bitcoins are therefore stored securely and serve as over-collateralization for the loans.
The interest rates there are significantly higher (6-15%) and due to the LTV deposit of 50%, the multisig contract custody and the automatic liquidation in the event of a fall in the price of BTC, I think the risk is quite low.
I look forward to your opinion on this. 👋
