Midas.Investments Offers The Highest Returns In Cryptocurrency. But Should You Trust Them?
If (like me) you're bummed by CDC's sudden decision to reduce their interest rates, you may want to consider Midas.Investments as an alternative.
Midas.Investments has been around for four years now and it offers what could very possibly be some of the highest APYs on cryptocurrencies and stablecoins in the entire cryptocurrency industry.
Let’s just say that they’re pretty mouthwatering.
While Midas has over 20 tokens to choose from, here are some highlights:
13% APY on Bitcoin
18% APY on Ethereum
20% APY on Stablecoins
30% APY on MIDAS (their native token)
Also, note the following:
APY is earned on flexible deposits (no lock-in period)
Interest is awarded and, therefore, compounded daily
You may receive up to 4.5% extra interest if you opt to receive your rewards in the Midas.Investments native token $MIDAS (limited time offer)
So, what’s the catch? Is this a scam? Well.. actually no.
Midas says it is able to offer these attractive interest rates by leveraging your crypto into DeFi, instead of just loaning it out to other users in the form of crypto-backed loans.
Crypto-backed loans are how platforms like CDC, Binance, and Celsius typically earn the bulk of the interest for their user’s locked cryptocurrencies. And while this is profitable, it’s certainly not as profitable as leveraging your assets on DeFi.
A quick look into several DeFi platforms confirms that these APYs are really nothing extraordinary. The issue is that DeFi can be tricky for everyday users to navigate.
In comes Midas.Investments with its expertise and algorithms
Midas uses a combination of cutting-edge algorithms and the expertise of the team to navigate the DeFi ecosystem on behalf of its users.
This allows them to find investments in the DeFi space that offer a good balance of both safety and investor return. Moreover, as users’ funds are pooled together and then allocated, the risks of investing in DeFi are spread out too.
This is effectively similar to how a traditional mutual fund works with the exception that the returns offered with Midas.Investments are guaranteed.
I’ve personally tried moving crypto in and out of the platform.
It’s reliable and the earned interest is real.
Furthermore, the community on Reddit is actually very nice and seem very happy with the platform. This is something you can’t always say about crypto communities.
Why Midas.Investments is NOT a scam:
Midas has been operational for four years now without incident
There is not a single negative user experience about Midas online that I found online and I, literally, looked everywhere (average Trust Pilot rating = 4.7)
The founders and the rest of the team are not anonymous and can be contacted by regular users via Reddit, Discord, and Twitter (they’re very responsive)
Midas has begun implementing KYC on their platform (last week)
Midas downgraded their APY interest rates recently (last month), indicating that the interest earned isn’t “made-up” and is very much market-grounded
So, why has the platform remained small thus far?
So, according to the founders, Midas has largely focused on growing organically so far and only recently have started promoting their platform (via YouTube livestreams, regular tweeting, and an affiliate program… here’s my link by the way).
These recent efforts have been, in short, largely successful and traffic to the Midas website has increased SIGNIFICANTLY. I, personally, believe Midas is likely to continue to grow especially following KYC implementation.
This makes $MIDAS an EXCELLENT BUY
$MIDAS is the platform’s native token.
And while there isn’t really a particular use case (so far) for the token, it’s really easy to see how Midas can create a use case for their token, following the example of the use cases that Binance, CDC, and Celsius created for their respective tokens.
In fact, the Midas token has been bucking market trends for the last 3 months and going through a spectacular bull run, reaching new ATHs:
I expect this upward trend to continue to grow as more users flock to the platform.
Note that the total supply of $MIDAS is only 5,000,000 tokens, potentially making the token undervalued even at its current ATH price of ~$27.
$MIDAS is harder to get than your average token though, as its only available on two relatively small DEXs; SpiritSwap and BombSwap.
What are the main drawbacks?
Well, first there is the Russian connection
The founders of the platform are Russian and for a significant part of its history, the platform was based in Russia. Last year, however, both founders moved abroad (Germany and the UK, I believe) and registered the company in Switzerland.
Midas, therefore, has no connections left to Russia.
The 24/7 online support can be a little weak (I’ve heard)
While poor customer service is never acceptable, this does seem to be an overall theme in the whole crypto ecosystem. Trevor (one of the two founders) has promised to improve the quality of chat support in the future.
It seems, however, that if chat support is ever unhelpful, you can always reach out to the team via Discord or Reddit and they’re always very responsive.
I’m personally not happy with the 2FA used
It’s a code you get via email. Needless to say, this isn’t great and may even be a dealbreaker for you. I know it almost was for me.
Ideally, Midas should be using something like Google Authenticator. I was able to get around that, however, by using a Google Authenticator-enabled Gmail.
If there is one thing I want the Midas team to change it would be Midas’ 2FA.
Will you be investing in Midas?
Tell me in the comments below and don’t forget to ask any questions about the platform that I may have missed or (if you want) recommend to me what platform I should try out and review for my next article.
After all, I’m here to help you make the most out of your crypto investments.
If you do choose to invest with Midas.Investments, I would be grateful if you would use my referral link, to support the impartial work I do on Substack and keep this newsletter free forever. Of course, if you don’t want to no pressure :)
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