CredEarnExpert.com is a blog about earning passive income from cryptocurrencies and digital assets. We’re dedicated to finding the best interest rates, most reputable platforms and testing them with real money to provide our honest feedback.
The average person in the UK (and worldwide) earns less than 0.5% on savings with banks, so with inflation they are losing money in real terms. More savvy people can jump through hoops to get better returns but they are still limited by restrictions. That’s why it’s important to have your finances in order to make money go further. This should be the priority before investing and the Money Makeover guide is a great place to start.
A brief intro
I became aware of interest rates and inflation after starting full-time employment in August 2015. After paying down a student overdraft the goal was to save but the standard saving account gave just 0.2% interest. Inflation is supposed to be 2% a year so it really didn’t add up.
MoneySavingExpert.com became a valuable resource to find better interest rates and cash bonuses for joining new banks. Using a bit of savvy with standing orders and multiple accounts meant a return of 15%. It was a good strategy for beating inflation and worked for multiple years.
In that time, help and advice was offered to friends and family and it became clear that people weren’t aware they were being ripped off. More surprisingly was that they wouldn’t help themselves, even to get FREE MONEY. At this time, the idea of creating a website to help inform people came to mind.
Investing was a taboo word in my household growing up, especially after the 2008 financial crisis. Grandparents that arrived in the 1960s had worked hard, saved and bought cheap houses, which was enough to live a comfortable life. To them the stock market was like gambling and was to be avoided.
Historically the average rate of return in the stock market has been 8 – 11% a year. So with a long term view there is the potential to build significant wealth. But we aren’t taught how to invest by our education system, so there is a barrier to entry for the average person and this leads to wealth inequality in our society.
Research eventually led me to invest in risky emerging market index funds with high growth potential. When young the advice is to take more risks in the market because there is a long time to make up for any losses. By the way, I’m not a financial or investment adviser so I recommend you consult with one before investing and do your own research.
In 2013 I first heard about Bitcoin but it was “dead” and I had no money to spare as a poor student…
In 2017, cryptocurrency was the hot topic and many people were swept up in the latest craze. It came to a head when prices peaked in early January 2018 and a severe bear market started.
The game changer with cryptocurrencies and digital assets is the control you have over your property and the removal of the barrier to entry. It’s possible for almost anyone on the planet to participate.
We have the first new asset class in a lifetime and it’s one with the potential for enormous growth. Within that is a growing ecosystem of financial products, dubbed Decentralised Finance (DeFi), that allow people to earn on and borrow against their digital assets.
One of these platforms is CredEarn. It was the first platform I came across and invested in for various reasons, hence the name of this blog. Regardless of the name we aren’t affiliated with CRED and will provide honest feedback and content, not restricted to only CredEarn.
These new products allow you to hold wealth in assets that only you control. It gives us the ability to earn interest or take loans out against them but keeping ownership of them.
At CredEarn Expert we want to build wealth with the newest asset class. In previous generations it was real estate and equities. Now we have the potential of cryptocurrencies and digital assets to be the class for the 21st century.