You are not investing: you are reserving foreign exchange 12 to 24 months in advance. The rules change. The bank's currency fund eats 22.5% in come-cotas, the ETF has BDR spread, Wise earns nothing, and the stablecoin can be the best or worst depending on where you keep it. Here is the real math, with no financial-influencer fluff.
You are not investing: you are reserving foreign exchange 12 to 24 months in advance. The rules change. The bank's currency fund eats 22.5% in come-cotas, the ETF has BDR spread, Wise earns nothing, and the stablecoin can be the best or worst depending on where you keep it. Here is the real math, with no financial-influencer fluff.
**Tesouro Renda+ Cambial does not exist.** Tesouro Direto has had no dollar-linked bond since 2006. Whoever sold you that confused it with NTN-D (extinct) or a Treasury fund with currency hedge (which is a fund, not Tesouro).
**Currency fund come-cotas destroys long-term returns.** Short-term funds pay 22.5% semiannual tax via come-cotas. Over 24 months, compounding loses 1.5-2% just to the tax authority.
**DOLB11 (BDR of ETF) pays 15% tax only at redemption** (variable income, exempt up to 35,000 reais/month in sales). But it has a **bid-ask spread of 0.3-0.8%** the app does not show.
**Wise USD earns nothing.** It is foreign exchange with idle balance. Great for locking a rate 30-90 days before a trip, terrible for 18 months (you lose roughly 5% per year real Treasury yield).
**USDC stablecoin on Brazilian exchanges (Mercado Bitcoin, Foxbit) yields 4-7% per year**, 15% tax on capital gain, but exchange risk (no FGC, no SIPC) and Banco Central regulatory risk.
You are not investing: you are reserving foreign exchange 12 to 24 months in advance. The rules change. The bank's currency fund eats 22.5% in come-cotas, the ETF has BDR spread, Wise earns nothing, and the stablecoin can be the best or worst depending on where you keep it. Here is the real math, with no financial-influencer fluff.
