Passbook A rate will drop to 3% in February 2023: more profitable than cryptocurrencies?

The Banque de France has made the news official: the Livret A rate will not be increased until next February despite rampant inflation and rising energy costs. However, the rates of return available today for our cryptocurrencies are neither more attractive nor particularly difficult to find.

Booklet A increase planned for February 2023

In a context of galloping inflation and with the arrival of a winter that promises to be difficult due to the recent increases in energy prices, the Banque de France has decided wait until next February to raise the Livret A rate to 3%.

Therefore, the 55 million French citizens who use livret A will have to be patient before their investments in this form of savings gain additional value.

A decision that could surprise, since the Banque de France, however, had the opportunity to revise this rate upwards from November. In fact, since a January 2021 order, the central bank governor has been able to propose a revision of the tariffs to the Minister of Economy during this time of year if you think you can help offset inflation.

And yet, according to a Banque de France spokesman, the French may not see this rate revised upwards any time soon, particularly for the revaluation of the latter 2 months ago :

β€œThere will not be an exceptional increase in the A book rate in November, just as there was not last May. The revaluation of August 1 was significant, even more so in the Popular Savings Account. Β»

A second reason invoked would be to encourage French households to consume and not to encourage them to save. We also recall that when the rate on Passbook A was raised on August 1, the affected savers placed more than 4,490 million euros in your savings account in the month.

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And yet, a better investment than cryptocurrencies?

However, this 3% rate, although it will take a little time, still higher than most rates currently offered in decentralized finance (DeFi). In fact, even the most recognized DeFi protocols in the ecosystem are currently showing very low rates.

DeFi Returns

Examples of returns in DeFi protocols

He is it is also possible to grow your investments through centralized finance on registered cryptocurrency exchanges like Kraken, Binance, or for example FTX, which offers 8% returns thanks to its FTX Earn program. Other platforms also offer crypto savings, such as Coinhouse, which offers a 5% return on its crypto brochure.

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Keep in mind, however, that in these difficult times, solutions like DefiLlama’s pool ranking allow you to quickly find attractive returns, especially for stablecoins that are an important security guarantee during periods of market uncertainty.

The most stable APYs (yields) tend to be in the liquidity pools with the largest Total Value Locked (TVL). In fact, most of the time pools with the most attractive compound returns generally have a low TVL :

APY Rating DefiLlama

Pool ranking in descending order of APY in DefiLlama

Naturally, the higher the capital contribution to a common fund, more will mechanically lower the proposed APY:

TVL Ranking DefiLlama

Ranking of pools in descending order of TVL in DefiLlama

The cryptocurrency market being highly correlated with the traditional financial market and its share of uncertainties, it is becoming increasingly difficult to find performance solutions that are both safe and attractive. Some projects are still little known to the general public and sometimes some cryptocurrency investment strategies can turn out to be difficult. disconcerting by the manipulations to be carried out.

Through our private Roasting Group, you can benefit from daily synthesized information and market analysis to help you invest wisely while saving time. Our analysts specialize in decentralized finance and can help you generate passive returns through step by step methods and informing you of your feedback on the ecosystem.

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Source: Le Parisien

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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused by the use of a good or service highlighted in this article. Investments related to crypto assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

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