Anyone have experience with Donut app? And their 4% APY? Had any issues pulling money back out? Whats the risk here?

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I do not, but what is the advantage of this over Blockfi? Is your money insured in any way? That is a big hurdle for me to get over. I haven't tried Blockfi either but their rates seem better through a quick comparison.

BlockFi > Donut

Can you just deposit cash into blockfi to get stable coins and the interest rate? Or do you have to go through the whole process of buying stablecoin on another app and transferring to blockfi?

All you have to do is deposit money from a bank account or a crypto wallet. If from a bank account, it will automatically convert it to a stable coin and you can start collecting interest. https://blockfi.com/?ref=cda25c16

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