{"id":15651,"date":"2024-10-22T15:19:15","date_gmt":"2024-10-22T15:19:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=15651"},"modified":"2024-10-22T15:19:15","modified_gmt":"2024-10-22T15:19:15","slug":"bitcoin-yield-on-dollars-yes-please","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=15651","title":{"rendered":"Bitcoin Yield On Dollars? Yes, Please."},"content":{"rendered":"<p>                        Follow Frank on <a href=\"https:\/\/x.com\/frankcorva\">X<\/a>.<\/p>\n<p>This morning, <a href=\"https:\/\/river.com\/\">River<\/a> announced its Bitcoin Interest on Cash feature through which it will offer a 3.8% interest rate \u2014 paid out in bitcoin \u2014 on the dollars you leave in the custody of the platform, which is FDIC insured up to $250,000.<\/p>\n<p>This yield is comparable to what you\u2019d earn in a high-yield savings account through an online bank like Ally, but again, you\u2019re earning bitcoin with River.<\/p>\n<p>If you\u2019re like me, a Bitcoin enthusiast who still likes to keep a sizable cash buffer in case of emergency, this is a pretty sweet deal. See, I have one of those high-yield savings accounts through Ally, and I tell myself I\u2019m going to take the yield I earn each month and buy bitcoin with it, though, I rarely remember to do this.<\/p>\n<div>\n<p>                        <a href=\"https:\/\/twitter.com\/River\/status\/1848718565005779205\"><\/a><\/p><\/div>\n<p>Now, with River, I can essentially automate that process, allowing River to convert that filthy fiat yield into bitcoin for me at the end of each month.<\/p>\n<p>(Well technically, I can\u2019t do this because I live in New York State, one of only two US states in which River doesn\u2019t serve clients. We have this thing in New York \u2014 a land once home to free people but that is now drowning in bureaucracy \u2014 called the \u201c<a href=\"https:\/\/www.dfs.ny.gov\/virtual_currency_businesses\">BitLicense<\/a>,\u201d which makes it <a href=\"https:\/\/www.nasdaq.com\/articles\/new-york-defends-old-money-while-crypto-industry-spends-its-golden-years-in-brighter\">quite difficult for Bitcoin startups to do business in the state<\/a>, but I digress.)<\/p>\n<p>There are no monthly fees or minimums to get started using this product, and users can withdraw their cash whenever they please.<\/p>\n<p>This isn\u2019t just something for Bitcoiners to celebrate, but it\u2019s also a great way to onboard normies to Bitcoin, most of whom are scared to buy bitcoin because of its volatility. Now, they don\u2019t have to buy it; they can just earn it for holding onto the type of money they\u2019re much more used to holding.<\/p>","protected":false},"excerpt":{"rendered":"<p>Follow Frank on X. This morning, River announced its Bitcoin Interest on Cash feature through which it will offer a 3.8% interest rate \u2014 paid out in bitcoin \u2014 on the dollars you leave in the custody of the platform, which is FDIC insured up to $250,000. This yield is comparable to what you\u2019d earn [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":15652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15651"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15651"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15651\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15652"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}