Beat your bank with crypto! I'm interviewing entrepreneur extraordinaire Fabrice Grinda, who has raised over $1 billion for his new crypto protocol, MIDAS —a marketplace offering investment funds that were previously inaccessible to everyone.
Note: I have no financial interest in MIDAS, and I haven’t (sadly) invested in Fabrice and Jose Marin’s fund, FJ Labs, that invested in MIDAS. I share this because 1) I think it’s a great opportunity to invest, and 2) it’s fascinating how quickly MIDAS raised so much with an average of $5-10k per user.
The tokenized funds offered by MIDAS have an interest rate of 4-20% and are auto-compounding. It takes a few minutes to invest in them, works for any amount with no minimum, and you can redeem them instantly for a 0.5% fee or no fee if you can wait two days.
Once you invest, a new MIDAS token is distributed to your wallet.
You could stop there and earn 10-20% a year, or explore the magic of crypto further by using this coin as collateral or liquidity to earn more in other protocols, which I will explain in my upcoming newsletters.
In this video, we explore the risks (Fabrice considers these stable coin strategies a low-risk option and suggests they could constitute one-third of your investments), the strategy, and why crypto is so essential.
As I mentioned in my previous newsletter about the basics of Crypto, you need to open an Ethereum wallet if you want to try MIDAS. I recommend using Zengo or Ledger for their security focus. You can also try the most widely used, MetaMask, but it’s also the most commonly hacked.
Once you have the wallet, you need to send USDC to it, which means you first need to convert your money into USDC using a modern bank that supports crypto, such as Revolut, or a Centralized exchange, such as Kraken or Coinbase.
I also recorded a conversation with Fabrice about the meaning of life that I will share soon.
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