Topic: Is it worth staking stablecoins? - page 6. (Read 1043 times)

There are a lot of platforms with this right now, you can use some platforms that are reputable, with high total value locked (TVL). Just like AAVE lending (https://defillama.com/protocol/aave)
I am glad that you are interested in Decentralized Finance (DeFi) because there are a lot of people that want to use the centralized exchange to stake their stablecoins compared to using decentralized finance (deFi).

One popular option is to use Polygon (MATIC) network, which is a Layer 2 scaling solution for Ethereum that offers faster and cheaper transactions, whether staking your stablecoins is worth it depends on your investment goals and risk tolerance. Staking can provide a relatively low-risk way to earn interest on your stablecoins.
One way to stake stablecoins on Polygon is by using Aave, a decentralized lending platform that offers users high yield on their deposits or the other way is using Curve Finance.

In this case, everything is pretty banal.  people read information about 50 percent per annum and are no longer interested in anything else.  they see only profit in the future.

who would risk giving their money to a third party to earn passive income?  Although if there are proposals, then there will be those who wish.  In banks, everyone survived on a deposit of money, and it will be the same here.

Yes, it was hard to trust and put everything on them (De-Fi) as it was safer in the banks. Earning a small penny is not enough to compensate if the situation is too risky but if we are really aggressive to do this without doubts and uncertainties, then that is our decision.

If decentralized finance will consistently performs well, not impossible to see them surpassing centralized finance in the future. It is quiet to see that most traders are still convenient using CEX this time which outperformed DEX but yes, we can't assume that it all goes like this as it is possibly be changed.

Binance is good, but with the SEC targeting Kraken for providing staking services, I'm afraid other crypto exchanges will begin closing their doors to US-based customers. The only solution would be decentralized staking through "De-Fi" lending protocols such as Compound.Finance and Curve Finance. These platforms are safe enough to stake stablecoins long-term (so far), but I'd proceed with caution, especially when stablecoins could easily lose their peg in an instant.

At least, staking on "De-Fi" pays better than saving money in a bank. The rewards are higher, but the risk of loss is also higher. You'd need to make a balance just to prevent losing everything "in a blink of an eye". With money still flowing across "De-Fi", adoption will continue to grow at a slow and steady rate. Who knows if "De-Fi" will challenge "Ce-Fi" in the future?

There's no safest way to staking your stable token safely. 

CEFI or DEFI is the same. There's no real decentralized finance. All of these platforms were under control by some people. APY is really small for a legit platform. Even if you do try to stake with high APY and the risk become even higher too.

Staking in CEFI that fully compliance with regulation may become the best way. The celcius case was making me worried staking in DEFI. Once the platform down and you can't get back your money. It's not worth it for me to stake stable tokens.

What experience do you have with this kind of service?  Staking is now possible on 6 more familiar exchanges, but only at low interest rates.

a tempting offer, but what about the security of the funds that the user will stake?  I think a lot of people want to see this information.

Stablecoin is centralized, if you don't fear the risk of holding a stable coin, why don't you use an intermediary exchange to stake? I mean, if you already trust USDT and USDC, then there's no reason you shouldn't trust Binance, Binance is still more reliable than both of those stablecoins. If you want daily passive income, then you can stake, but if you are willing to hold for long term profit, bitcoin will be better choice. Even though I still use USDT, I don't feel safe using them long-term.

in that case, staking is profitable and a smart person will certainly choose where it gives a higher interest. But if a person just looks at the security assurance of their funds, that 1% difference is useless, and they will choose a bank either.
If my goal is to stake coins, it was not in my mind to choose stablecoins. I'd rather choose altcoins where most exchanges offer interesting rewards. It was found to be risky but choosing trusted exchanges like Binance could somehow make you feel even better.

50 percent per annum from staking stablecoins is a fairly large percentage of income.  Few resources offer such conditions.  I think the most important thing is to make sure that your funds are safe.

You may be interested in the opportunity to stake a stablecoin and at the same time get 4.5 percent per month and withdrawal to any cards in the world.  As for me, an interesting opportunity offers bittix.  But I'm still trying to check if everything is working fine.

I like that idea but most defi services can give you less than 4% APY. Even 20k will give only 600-800 usdt per YEAR. So small rates... Cefi have 8%+ but after celsius it too risky for me

Yes, there are ways to stake stablecoins in a safe and cost-effective manner. One option is to use a DeFi platform that is compatible with Polygon (MATIC), which offers lower transaction fees and faster confirmation times than the Ethereum network.
It's important to do your own research before choosing a DeFi platform, as not all platforms are created equal. Look for platforms that have a good track record and strong security features to protect your funds. Also, consider the platform's reputation, community, and governance structure.
In terms of whether staking stablecoins is worth it, it ultimately depends on your personal investment goals and risk tolerance. Staking can provide a reliable source of passive income, but it's important to remember that there are risks involved, such as the possibility of losing your funds due to hacks or smart contract vulnerabilities.
Before staking your stablecoins, consider diversifying your portfolio across different asset classes to spread your risk. You might also want to consider other investment options, such as yield farming, liquidity provision, or decentralized lending.
Overall, staking stablecoins can be a viable way to earn passive income on your crypto holdings. Just be sure to choose a reliable platform, do your own research, and consider your overall investment strategy before making any decisions.

I would say it does, but in a sense that it would be valid only if they are offering you more than a bank savings account does and a trusted place. Lets assume that you have a bank that offers 5% for your interest in USD, and you also saw Coinbase or Binance offering you 6% instead, that means it worths it, because it is both more than what banks offer, and also it is from trusted exchanges.

However, if it is from a place that you do not know about, or not as high as what banks offer you? In that case it doesn't make it worth it. This also depends on the stablecoin we are talking about, some of them are more trusted, some of them are less trusted, hence it's not an easy decision.

Curve for decentralized though Im seeing some stablecoin pools on bsc network but I am yet to know if these platforms are trusted though. Its also the rate of return, of course calculate the rate of inflation on your country and find one that is higher on those platform, of course secure also which is safest. Binance have a 6% on their busd pool. Thats not bad if you want your stable to move while holding, but do this only if you can trust any cex out there. If gonna risk on a cex Id choose binance.  But decentralized platform is better without any ties.

A very tempting offer.  Although the risk is appropriate.  Although with the increase in the adoption of cryptocurrencies, the need in good wallets will increase.

I would take those stablecoins are not good for storing for the long term as staking seems to be like that.
Because for me, it doesn't matter how much I would get from staking but what matter to me is the safety of my funds where I know it was secured and give me peace of mind. I know they still have reasons for their existence but then, we also have reason why we don't do staking. I use BUSD and USDT for some transaction but never I think about converting my Bitcoin to them and hold.

I don’t think it is one of the best investments to stake stablecoins in this moment as almost everybody else does this and this has made the applied yearly interest to come down to little compared to other altcoins.I personally stake Zilliqa through Atomic Wallet and I am happy with the rewards of 15% applied yearly interest.

The good thing about this is that you can add to your balance as you see fit and they accept new coins over the original amount but I guess this should be the norm even elsewhere you stake stablecoins.