Is it possible to hedge USD/EUR in crypto?

[heraldd]

Hello, this is one of my first messages so I hope I am in the right section.

I don't like trading but I am interested in earning yield on some EUR I have "sleeping" on a bank account. My idea is to convert some EUR into stablecoins (DAI or USDC for example) and put them at work in a defi protocol.

But I'd have to protect this investment against USD / EUR variations. My first idea was to open a leveraged USD/EUR short position on a CFD (Contract For Difference) platform such as Oanda, FXCM or Pepperstone. So I earn via this position in case USD/EUR falls (and vice versa). See https://www.contracts-for-difference.com/strategies/CFDs-hedge.html to understand the technique.

Unfortunaly, most CFD companies available to europeans are located in UK, and new account creations are currently frozen because of brexit...

Do you know any cheap way to hedge USD/EUR in crypto?

If possible, I am looking for a solution as flexible as a CFD which allows me to:
- use leverage to hedge my investment. For example, I can open a 100,000€ position on a CFD with 5,000€ only (using 1:20 leverage)
- gradually decrease/increase the position on the CFD at any time when I decrease/increase the investment in USD-pegged stablecoins

[Tstar]

Hello, this is one of my first messages so I hope I am in the right section.

I don't like trading but I am interested in earning yield on some EUR I have "sleeping" on a bank account. My idea is to convert some EUR into stablecoins (DAI or USDC for example) and put them at work in a defi protocol.

But I'd have to protect this investment against USD / EUR variations. My first idea was to open a leveraged USD/EUR short position on a CFD (Contract For Difference) platform such as Oanda, FXCM or Pepperstone. So I earn via this position in case USD/EUR falls (and vice versa). See https://www.contracts-for-difference.com/strategies/CFDs-hedge.html as an example.

Unfortunaly, most CFD companies available to europeans are located in UK, and new account creations are currently frozen because of brexit...

Do you know any cheap way to hedge USD/EUR in crypto?

With Nexo, you could put your EURO to directly work for you, without converting or hedging: https://nexo.io/earn-fiat

Derivatives are mostly in USD, so not so cheap ways to hedge USD/EURO: https://coinmarketcap.com/derivatives/

[heraldd]

Thanks for your answer.

I was looking for a true decentralized solution but I will take a further look at Nexo anyway.

As you say, I see no EUR derivative on https://coinmarketcap.com/derivatives/ indeed :-(