How To Get 1,000% APY And Not Pay Any Taxes — 3 Easy Steps
Back when I was young, in the early days of yield farming, we used to think 1,000% APY was attractive. But soon we learned to spit on 1,000%.
And it just kept on getting better:
But to be conservative, let’s stick with the 1,000% APY.
Below are the three easy steps you can follow to make 1,000% APY and not paying any taxes:
- Make 1,000% APY
- Don’t pay any taxes
- If the tax man comes to your door and asks you why you didn’t pay any taxes, you simply tell him, you forgot.
So that’s it. It’s really not that hard.
In full disclosure, I didn’t think of this easy 3 step plan. Steve Martin did in 1978.
DeFi isn’t dead. It’s just starting. And it’s going to be HUGE.
But there will be scams. If it sounds too good to be true, it probably isn’t true.
And there will be hacks.
But that just means it’s early. So be careful out there.
And most importantly, educate yourself.
Below are some DeFi resources via DeFi Pulse:
- Bankless — the ultimate guide to crypto finance written by Ryan Sean Adams
- DeFi Tutorial — a newsletter focused on teaching and educating readers about DeFi with hands on video tutorials
- DeFi Value — a place to better understand and evaluate Decentralized Finance
- DeFi Weekly — a weekly in-depth review of technical achievements within decentralized finance
- Dose of DeFi — a weekly newsletter that specializes in deep dives on topics in the space
- The Defiant — a curated list of daily news in the DeFi space explained and conensed down to a digestable level by Camila Russo
- Defi Nerd — a lending & borrowing reviews and rates comparison ressource for crypto assets
- DeFi News — a DeFi News & Education ressource
- DeFi Prime — a list of the best Decentralized Finance Products
- Defi Rate — a trusted resource for DeFi research, news and interviews with a strong focus on lending rates
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