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/biz/ - Business & Finance

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30157838 No.30157838 [Reply] [Original]

Hello /biz/. I need some advice. I'd like to use some of my Link for collateral on AAVE so I can pay off my credit card debt, and then take the remainder- about 3k, and do something productive with that- what should I throw it into?

I'd want ideally a 3x or so in a shortish time frame- to pay off the 6k loan, and make some money for myself.

thank you.

>> No.30158017

>>30157838
Buy link with those 3k

>> No.30158229

>>30158017
I'm 100% in link, but I'd want a 3x within like a month or so. Link will not go to 90 in a month. I'd love for it to, but that's not happening.

>> No.30158243
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30158243

>>30158017
Oh and im only helping because you posted pic I used for my favorite plaid
Pic related

>> No.30158269

>>30158229
Capped

>> No.30158328
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30158328

>>30158243
where did you get that?

>>30158269
1k eoy, I don't know where all this gay fud has been coming from

>> No.30158423

>>30158328
I used a high res pic and made it printed on some website I dont remeber the name

>> No.30158442

>>30158423
nice.

>> No.30158640

>>30158442
Also Wait for interests fees on aave to lower before borrowing, try to get 8% stable interest on your stable coins
This usually happens during dumps as people pay back their debts to avoid liquidations
Which also means its a perfect moment to buy the link dip with your borrowed moneis
Godspeed and goodluck anon

>> No.30158782

>>30158640
Wait, I'm confused. Link has a stable borrow APR on AAVE just under 4% right now. Isn't my interest rate based on the token I use as collateral to borrow against?

>> No.30159005

>>30158782
no. the rate on link is what you wpuld pay to borrow it

>> No.30159024

>>30158782
He's talking about interest on stablecoins.
And no, your interest is based only on whatever you borrow.

>> No.30159136

Wait, I'm a retard. I think it just clicked for me. I've never touched this before, so thank you for babysitting me.

I deposit Link. I borrow USDC against the value of my link. I pay back the loan in USDC, and my borrow APR is the USDC APR....right?

>> No.30159732

>>30159024
Is that correct?

>> No.30159796

>>30159136
>>30159732
yes

>> No.30159834

>>30159136
Jesus how fucking stupid are you? Yes that’s how it works. You are basically shorting the crypto you are borrowing for because you have to pay it back in that currency.

>> No.30160144

>>30159834
pretty stupid.

>>30159796
Thank you.

now, to figure out what I might toss the extra at. Might just increase my exposure to link as suggested, but link is a bit volatile for short term trades...Hm.

>> No.30160281

>>30160144
Maybe AAVE lol. It should start pumping any day now

>> No.30160359

>>30157838
shitty stereogram. was expecting naked chainlink waifus.

>> No.30160465

>>30158229
Mid caps
COTI
Orion Protocol
Low caps
GOVI
Royale finance
BOTS

>> No.30160660
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[ERROR]

>>30160144
unironically, more link. That's what I do.
It allows me to swing linkies without the risk of link taking off without me. If it does, then my collateral grows in value and lets me borrow more. So it basically cancels out my miss. Of course there's always the risk that the whole market shits the bed and I get fucked.