Busha wants to help you make mouthwatering returns on your capital via its Busha Yield product.
The Lagos-based Fintech company with a focus on Cryptocurrency-allied services is looking for ways to create opportunities for businesses and investors in the crypto world.
Via Busha Yield, the company is promising a ROI of up to 10% per annum on your investment.
In this review, we’ll take a look at Busha Yield to see if it is worth investing our money or not.
What Is Busha All About?
Busha is a Fintech company based in Lagos Nigeria. The company has an audacious mission to onboard millions of Africans into the crypto economy.
Via its mobile app, you can buy and sell crypto, make transfers and even receive crypto payments.
The company recently launched its Busha Yield product that allows crypto HODLers to hold stablecoins and earn returns on it.
How Does Busha Make Money?
Busha makes money like a traditional crypto exchange. They charge small fees for transfers and crypto payments.
How to Invest in Busha Yield
To start investing in Busha Yield, you’ll have to download the Busha app, do your KYC and buy your stablecoins.
For now, you can invest in Busha Yield via stablecoins such as USDT and USDC. The company promises to allow staking on other cryptos in the future.
How Much ROI Does Busha Yield Offer?
Busha Yield is offering a mouthwatering 10% return per annum.
Busha claims that all Busha Yield subscriptions earn interest daily and are withdrawable at any time without penalties.
Is Busha Legit or Scam?
Busha seems like a legit company. The owners of the company are former Jumia employees who set out to make their own dent in the world of DeFi.
The company also has a host of reputable partners. Late last year, Busha raised funding in excess of $4million from Jump Capital among others.
So, Busha seems to have some features of a trustworthy company, and should be given a trial.
What I Hate About Busha Yield
To be honest, there is not much to hate about Busha Yield. But if I were to be picky, I’d say that I’m sceptical about the liquidation process of Busha Yield.
Busha claims that you can liquidate your Busha Yield assets at any time without any penalty, but there is an issue though.
You can liquidate via “standard redemption” which returns your asset to your spot wallet the next day or “fast redemption” which returns your assets to your spot wallet immediately.
However, the “fast redemption” has a daily quota, which means that you won’t always get your assets liquidated depending on available quota.
I just wish there was better clarity on this, or the company should just stick to their “standard redemption” for now.
What I Like About Busha Yield
A stable way to earn in a currency that isn’t Naira.
I think a 10% yield for staking a stablecoin is a massive return. Even bigger platforms like Binance do not offer up to that.
So, you know what you are getting with Busha Yield.
And like that isn’t enough, you get to hold your investment in a stablecoin that is backed by the USD.
This is akin to investing in dollars, without the unnecessary runabouts, and your assets still remain as liquid as possible.
Can You Lose Money With Busha Yield?
To be honest, I don’t see a way that you lose your money with Busha Yield.
The company looks reputable enough, and is backed by reputable partners.
Unless crypto goes to the dogs, which I don’t see happening any time soon.
Should You Invest in Busha Yield?
I’d recommend it.
If you want to safeguard your money away from the falling Naira, and still earn good ROI on it, then you should give Busha Yield a trial.
You always have the chance to liquidate and walk away if the company doesn’t impress you.