That's a good question. Have you thought about an exit plan? Where if something happened and you lost those crypto you bought using your loan? And have you already done the math? I know 19% P.A. is greater than 5% P.A., but loan usually required you to pay back on a monthly basis and if you plan on using the Interest to pay off the loan, you have to think twice as every transaction from UST --> MYR does have many cost associate with it. It might not worth it.

If you already thought over all the things i mentioned above and decide to go for it. All the best! and let's hope we all huat huat.

Reply from Finblox support on how they generate 15% apy for stablecoins via in app chat:

From: charlie@finbloxapp.com
"Hi David,

Our investment strategies are working with key institutional investors and lenders. We also have satellite investments that seek safe protocols with reputable financial institutions, defi or traditional, which gives us a diverse portfolio to help us provide a better yield over our competitors.


Is there any other question I may help you with today?"

This is why I like Finblox too. Their support is always top notch. Pm me if you want a referral code to get some freebies.

This post has been edited by Davidtcf: Apr 27 2022, 11:17 PM

What is the cost from UST --> MYR?
Haven't staked yet so unsure of cost.

The cost is similar to MYR to UST which consist of
1) Platform Fee
2) Forex Fee
3) Transfer Fee
4) Withdrawal Fee

E.g. If you're using Luno
There's a 0.25% platform fee for every crypto transaction (if you use instant buy/sell then it's 2%). After you acquire Crypto, you will then transfer to Binance/KuCoin/Any Crypto Exchange = Transfer Fee or "Gas Price". Then at Binance/KuCoin/Crypto Exchange = your crypto will need to exchange/swap to UST = "Exchange/Swap Fee", then from there to TerraStation another Transfer Fee/Gas Price, then only you reach Anchor Protocol.

When you plan to withdraw, you've to go through the steps above in reverse confusing at first but once you go through it once then you roughly will know what is the estimate fee you're going to pay. And that's the reason why i started this thread, asking for the cheapest way to acquire StableCoin/Crypto.

Other than fees, time also another factor that's why I'm using Luno as example. If you're using other Crypto Exchange that is not regulated in Malaysia, the bank might raised a red flag whenever N amount of money (Usually in ten thousands) deposit to your account.

I saw many already did buying Crypto from Luno using their EPF 10k --> Binance/KuGoin --> immediately exchange UST for staking.

All the fees alone aren't cheap since we can't directly buy USD stablecoins from Malaysia FPX.
Buying LTC via Luno, then swapping into another crypto is where it will take up most fees. Then some transfer fees could take up around 1-2 USD.
If you transfer USD 1050, expect it to shrink to around 1040+ once it enters into Anchor or other interest earning apps.
Will only be worthwhile if you plan to invest in them long term (at least a few months, best 1 year or more) without withdrawing.

Example if same amount, 1040, after 1 year in Anchor you will get back 202+ in interest (provided if APY stays at 19.5%).

Please take note of the risks in investing using such tools (can read up on the web). Recommend not to exceed 10% of your portfolio for any crypto.

This post has been edited by Davidtcf: Apr 28 2022, 10:17 AM

if u still have access to binance/kucoin/huobi, can do p2p, fees is UST>USDT (usually UST is slightly higher the USDT, p2p sell MYR)



its a hassle to do tht for month repayment, so like bro loneranger mention, if u dont have MYR liquidity, not a very good choice tho

Thanks for replying.
So I have been doing some research on p2p.
As of today 1 usd to myr is 4.36(Google).

Checking on binance p2p, 1 usdt rate 4.42
Kucoin p2p 4.44
Huobi 4.418

Huobi has the best rate.
How is the fee for huobi?
Any idea?

But USD is all time high now. Is now a good time to buy usdt for staking or wait USD rate go down a bit first?

if you wait, you let your cash sit around not earning anything. Better put it in to earn interest.
Even if Ringgit strengthen, do you think it will go up a lot? say hit RM3+ ? For me that's unlikely to happen. The most a 0.10-0.30 improvement which is not a big number.

If you put in Anchor with 20% APY, if you put in 1k USD, in 1 year already earn USD 195 with the 19.5% APY.

For currency exchange, below are the maths:
RM4400 / current rate of 4.35 = USD1011+
RM4400 / assume if rate improve to 4.2 = USD 1047+

That interest you've earned would already exceed the above difference in 1 year's time.

Anchor return not only 19.5%. aUST value can increase vs UST over time. Hypothetical with adoption as key.

I have been comparing Binance and Huobi for some weeks, most of the time Huobi is cheaper but sometimes Binance is.
So far I never see any fees in huobi P2P except for withdrawing to a different exchange / platform which is typically 80 cents or $1.

Agree with Davidtcf as based on economy news, USD might be high against RM for most of this year until interest rates in US & geopolitical situation stabilises so it depends also when you intend to take the money out.

so far myr P2P is expensive for me compared to luno.

maker usually .1% we dont have option to direct deposit reach until tier 4.
to myr acct no matter how much always is RM 0.1 for MYR.

for instant buy/sell, i use luno SG 0.75%
i use luno eur also, .1% or .09% for taker, maker 0%.

i buy sell asics as side hustle.

Good thing I'm into USDC yield at Finblox, and avoided Anchor Protocol earlier. Shit is happening over there now:



Reddit full of complaints too:
https://www.reddit.com/r/AnchorProtocol/

finblox gave good APY for USDC... but there are others giving higher

This post has been edited by ntchong: May 10 2022, 02:53 PM

Oh dear, can't blame Luna as US Economy currently is rapidly falling. I wonder what will happened to those who leverage their crypto position for staking purpose. I read that those using Degenbox use UST to Leverage, but they need to ensure UST to stay above $0.9 and this morning UST drop to $0.61 which is is the worst it has since 2020 Dec which is $0.85. Feel bad for them.

Yea Midas Investment gives 20%. Problem is I have trust issues with them due to not having an app and the whole thing run by a handful of Russians. Not insured too.
The CEO seems quite knowledgeable though at Reddit.

I chose Finblox in the end coz prefer to have insurance in case get hacked. Mobile app, UI and support is great from them too. Recently they revamped their reddit page with more info. The company and app still seems new, hope more people will choose them in the future. I'm happy with 15% as it is still much higher than putting in KDI Save or Go+ for 3% APY lol. Stock market now tanking everywhere also.

PM me if want a Finblox referral code.

Yea man in the past UST depeg did happened before.. it will take them LFG a few weeks or months to restore the peg. But if got continuous selling then it's hard for them to keep peg to 1USD. Easy to happen in this bearish market now.
Imagine if right now you urgently need to withdraw UST and yet got this issue, when you sell UST sure will face some losses. If it's me I won't be able to sleep well knowing this risk

This post has been edited by Davidtcf: May 10 2022, 04:49 PM

I've been contemplating this since I have my EPF ready to invest.

You have good points there. Plus, imagine those that exploited the opportunity to buy UST when it crashed, would have made some handsome profit.

how do you transfer your crypto into Finblox?

the APY in Finblox will not last I think and when they exhausted whatever funds they have, the rates will go down. They are promoting heavily in the Philippines market. APY for stablecoin ideally is around 8% to 10%, still much better than putting in banks.

UST peg will go back to USD1 eventually but must diversify lah. Some long term, some short term, some APY play, etc etc. Most important must understand the project before investing. Crypto market still not stable yet and will continue to fall.

Today's peg fell again for UST. LFG’s BTC and Luna reserves are now all dried up 💸 :
https://techcrunch.com/2022/05/09/bitcoins-...uidates-wallet/

https://www.business2community.com/crypto-n...in-peg-02492606

I use Crypto.com exchange app to swap LTC (buy via Luno) to get my USDC, then transfer USDC to Finblox using Polygon network (cheapest way) at $1.60 per transfer. Rates here: https://crypto.com/exchange/document/fees-limits?tab=2

Crypto.com got 3 apps total.. after downloading all 3 only realise the exchange app is what I needed since I not hodling there. Register 1 time all 3 apps can use liao. Yeah confusing I know.. 😅

Sent you my referral code already in case you interested. Can get some free usdc depending on the amount you deposit in Finblox.

I have faith in Finblox.. if it sucks it wouldn’t get backing from several big companies for funding. The founding team is has been active in social media eg. LinkedIn as well:
https://www.techinasia.com/sequoia-backs-39...latform-finblox

If one day they stop offering 15% then fine.. if reduce too much then time to search for other reputable place to put usdc in. Most important is usdc maintain its peg for me.

This post has been edited by Davidtcf: May 11 2022, 08:43 AM

UST price fell to 70+ cents. Luna is now below USD10.

https://coinmarketcap.com/currencies/terrausd/

https://coinmarketcap.com/currencies/terra-luna/

If Luna price keeps going down it will drag UST along with it. The spiral seems to keep getting worse. Made worse with panic withdrawals and sells on the market.

At one moment i thought i misread it as below $100, which i wonder why make a fuse about it until i clicked in.... omg... LOL~~~ GG