Would you do this?

#3
I’d rather play Russian roulette with a semi-automatic pistol. Seems like your chances might be better. Also, my brokerage cash reserves account is returning 4.5% or something like that.

Also, Jan. 9…your timing, bro. Jan 9 was eurozone stock buying time. US stock buying time is March 15.
 
Reactions: Aetherial
#6
holding big money in a bank or EMI is a bad idea

if I had to choose one EMI to hold 1M I would pick Wise without hesitation

full-fat banks are not any better
 
#7
void said:
holding big money in a bank or EMI is a bad idea
Click to expand...
True
void said:
if I had to choose one EMI to hold 1M I would pick Wise without hesitation
Click to expand...
Why? Sheer scale is not a sign of quality. Small EMIs can suck too, but this is not a good institution, compliance is nearly unbearable to deal with. Personally, I haven't experienced a freeze yet, though I know several people that did, and I had my fair share of question answering there.

Especially for business, you have much more business-friendly PIs/EMIs that also safeguard assets well. For low risk businesses, for example Amnis Treasury, which also pays interest, has a good selection of currencies and local details, and safeguards funds at Erste Bank.
void said:
full-fat banks are not any better
Click to expand...
Of course, nothing beats crypto, but Fiat is still a need in current times.

For USD, I would just hold the funds in T-Bills with quality brokerages (Interactive Brokers, Swissquote, maybe Saxo, maybe some select banks if you get a good deal) – you make more money with similar or most likely lower compliance.
 
Reactions: daniels27
#8
Some of the US brokerage cash reserve accounts offer better than 3.9%. No reason to ever hold that much in a single bank account. Even the most sound government insured bank insures less than that. FDIC only goes up to $250 000 US. That’s just bad practice all the way around, including the choice of institution, account structuring, yield to risk, and the timing of his investment.
 
#9
Maybe Robin Hood. He had cash sweeps in 20 banks, offering 5M protected savings.
 
#11
Bottom line, EMIs are less regulated than banks and have a well deserved rep for freezing accounts. Brokerage accounts offer comprable or better rates and do not freeze accounts on their own initiatives, they just give you 30 days to move it. Or just get a money market savings account from Santander Openbank, currenty at 4.4%
 
#13
JackofAllTrades said:
Original X post is likely shill in any event otherwise the dude just invited every scammer from Enugu to Lagos to help him invest.
Click to expand...
It’s funny because it’s true. Fortunately I’m a very poor man and all of my knowledge comes from watching Andrew Henderson videos on Youtube so I don’t have problems like those.
 
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