What do people do with their money when central banks only offers 0.03 percent interest while inflation is 9 percent. They can convert their money to a crypto stablecoin and get upto 20 percent yield.
Nope. Most folks are pretty poor, and realistically the money at the banks isn't collecting interest at all. The banks provide a service: Somewhere fairly safe to stick your money, where it will be available to pay for food and rent and utilities.
What most folks actually save for - when they can - is emergencies. We are talking less than a month's income at a possibly average salary. This money needs to be easily accessible. you know, in case your car breaks down. You might save for a down payment, but realistically you aren't going to be much better off by investing in anything long term. And when you are at these income levels, investing in anything that could mean you lose your money is too devastating to deal with, even if you supposedly can get "up to a 20 percent yield". Not to mention that you can't use that money for anything without planning.
1. https://townhall.com/columnists/johnrlottjr/2022/02/23/canad...
2. https://www.businessinsider.com/mypillow-ceo-mike-lindells-b...
IB lends leverage at like 2%.
20% implies a ton of risk compared to what’s available.
Also: A crypto stablecoin is (supposed to be) pegged to a major currency, usually the USD. So in terms of return, it shouldn't matter if you have your money invested in stablecoin or cash under your mattress. Oh wait, it does matter, because most stablecoins are scams and you'll eventually lose all your money.
If your argument is that banks and savings in particular offer poor interest, the proper answer is to look into index funds and focus on long term growth, rather than short-term speculation.