Well asking this question cos I wanted to see how many of you do stake your USDT. I have seen my friends earning lots of interest from their USDT holdings. So I also wanted to stake some USDT to earn some interest since it's sitting on my wallet doing nothing. I checked a few cexs that offer USDT saving option or other options that offer interests.
So I was seeing that Binance offering 2.85% APR on their flexible staking product, which translates to roughly $0.0781 daily for a 1k USDT stake. But some other exchanges like Bitget and Bybit offer tiered flexible staking rates that can potentially yield higher returns. For example, Bitget offers rates ranging from 3.70% to 8.70% APR depending on the staked amount and with 1K staked, it's like 0.169$ daily, and Bybit offers a flat rate of 2.13% to 7.12% APR also depending on staked amount, so with 1K staked, it's like 0.126 USDT daily.
Now I want to know what's gonna be best. I know Binance has lower interest but i'm still torn between these. So I wanna know y'all thoughts.
So I was seeing that Binance offering 2.85% APR on their flexible staking product, which translates to roughly $0.0781 daily for a 1k USDT stake. But some other exchanges like Bitget and Bybit offer tiered flexible staking rates that can potentially yield higher returns. For example, Bitget offers rates ranging from 3.70% to 8.70% APR depending on the staked amount and with 1K staked, it's like 0.169$ daily, and Bybit offers a flat rate of 2.13% to 7.12% APR also depending on staked amount, so with 1K staked, it's like 0.126 USDT daily.
Now I want to know what's gonna be best. I know Binance has lower interest but i'm still torn between these. So I wanna know y'all thoughts.
3% APY will be nullified by 3% inflation rates so at the end you are making no profits by risking your capital completely. Staking on exchanges is no more profitable in my opinion. People believe AVAX is a choice so you can try which is better than conventional centralized staking in terms of returns.
