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2 Ways to Get Funds to Buy the Dip
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We are working on a limited portfolio. It hurts the most when you want to buy more but run out of stables.
Now, selling your funds at a loss to buy others might not always be a good idea. Here are three ways you can get more stables out of your existing holdings.
Note: This article is for advanced users only. Using Defi has a Smart Contract and liquidation risks. This article is for knowledge purposes only.
1) Mantle
We can get USDT worth 40% of our MNT holdings. First, you need to visit their website. Supply 100% of the MNT you hold. With this tool, you can earn 13.95% APR for supplying. In the Borrow section, you can borrow USDT from your MNT deposits. You can do this by borrowing MNT directly from your MNT holdings and selling MNT to get USDT.
Source: X
You can also borrow USDT directly using the supplied MNT. Warning! Always check your liquidation percentage and keep your loan-to-value ratio healthy. A big price dump might result in liquidation.
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2) Sui
You can get an SUI worth 35% of our SUI holdings. First, you need to visit Suilend. Then, deposit SUI for 5.96% APR. Now, you can borrow SUI on your deposits at a 35% rate.
Note that there is a 3 SUI borrowing fee. We have kept the loan-to-value ratio small to avoid market surprises. You can sell SUI and get USDT to DCA. In the tweet below, you will find more about borrowing SUI.
Source: X
Warning! Always check your liquidation percentage and keep your loan-to-value ratio healthy. A big price dump might result in liquidation
Should we lend ETH and others?
Since we hold a considerable amount of ETH, lending, and borrowing are not a great idea because of the high fees. We have picked two coins with minimal volatility risks to lend and borrow.
Small caps and Mid caps will have more volatility risks. It is best not to borrow based on such coins.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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July 9, 2024 at 07:59AM
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