Understand how APY works. For a quick and dirty its
Lot size * (APY in decimal format) / 365 = Daily earnings
People who tell you ‘oh you can make that in a few trades’ or you could lose that ‘in a few trades.’
You have options; each requires knowledge for each option. You probably won’t obtain that knowledge if you try to do without knowing the first time. You’ll obtain a lot of stress. Work with the wrong contract, or dapp and poof! Magic its gone.
If your friend can’t figure out reddit to make this post, maybe they should gain basic technology literacy skills before entering the world of defi. The basis of which is creating, and storing strong unique passwords properly. Can’t do that, then you won’t know what to do with your seed phrases and you could leave it laying around, backed up to your documents folder on your windows pc that is already compromised from all of the ‘free remote tech support’ you are recieving each time your computer acts up (and its basically twice a month, every month)
-Speaking for a friend.
I cash out all the time. Just not all of it. Thats why theres staking. People need to eat, drink have health care and shelter.
Your own biases are wrong and its easy to see you are still ‘down’ a lot and you aren’t earning against it; and you just watch a single balance and sit around wondering, or hoping, that most are like you.
I’m not. I’ve sold many tops. I sold the recovery. I bought some more and now I’ll sell some more when I need money and the market gives me more than what I paid. If you aren’t doing this then you mine as well take up collectables trading before telling people to give up traditional banking.