Hello, I’m looking to retire at the peak of this bull market living off the interest. I have been in crypto since 2016 and will move gains into Anchor wanting to withdraw monthly. DE.F.I.R.E. (Defi Financial Independence retire early) is my plan.
Knowing the APR will fluctuate at times, should I be cautious of Anchor surviving for many years to come or use Celsius and lower interest to be safe? Thank you to anybody with more knowledge of the Terra platform.
You’re asking for financial advice which many of us on this form are not legally allowed to do.
That said there’s inherent risks in anything that you look into. The risks of anchor you can explore yourself because the code is open to anybody to read. Where is centralized platforms like Celsius you have no idea what they’re doing. I certainly wouldn’t call that long-term stability or security of funds.
Either way I wouldn’t be expecting to retire on stable coin returns.
Thank you for your input, I guess we will be bringing the funds over to traditional markets, thanks again.
This is a new market. We are Anchor, Mirror, Terra. It’s a web base community of those who are fed up with traditional finance. We are ready for change!!
Coin Bureau just did a youtube video on Anchor. I’d suggest you watch it. He summarizes everything in 20 minutes.
Thank you, will check it out now, have a good one!