Looking for Fixed-Term Savings with High APR on CEX

MarvieJ

newbie

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Quote from: LiquidationBro on August 09, 2024, 01:11:42 PM

Even though the market is kind of stabilizing now, I’m still not comfortable trading. And Sitting here in boredom isn’t really for me. I’ve looked into many ways to make something from the market, but none seem to offer a good, reasonable gain. Now I’m considering saving to earn interest, but finding an exchange that offers high APR is not so easy these days.

Do you know of any CEX that has fixed-term products available for subscription with a high APR?

I’ve been in this space long enough so I can totally relate to what you are saying, market stability can definitely make trading feel less exciting. If you’re looking for a way to earn some passive income, you might want to check out Bitget’s latest offerings. They’ve recently introduced fixed-term savings products for $BWB with up to 10% APR.

It could be a good alternative if you’re seeking a reliable return without the constant market monitoring. If you hold $BWB, it might be worth exploring these options to make your assets work a bit harder for you.

ABCbits

legendary

Activity: 2870

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Crypto Swap Exchange

Choosing one with high APR/APY generally seen as risky. In addition, there's risk the CEX would lower it for any reason. For example, they only offered high rate to attract more user. Anyway, you probably want to use website such as https://www.cefirates.com/ to help you choose your preferred centralized platform.

Quote from: Rikafip on August 11, 2024, 02:36:31 AM

Quote from: Yamane_Keto on August 10, 2024, 06:37:10 AM

If you want a safe return on your coins, deposit your money in banks as government laws may protect you

And get what, 0.1% interest? While banks are definitely way more safe than exchanges, your money in them is safe until it isn't.

But don't forget deposit rate on each country could be very different, https://tradingeconomics.com/country-list/deposit-interest-rate.

examplens

legendary

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Crypto Swap Exchange

Quote from: LiquidationBro on August 09, 2024, 01:11:42 PM

Even though the market is kind of stabilizing now, I’m still not comfortable trading. And Sitting here in boredom isn’t really for me. I’ve looked into many ways to make something from the market, but none seem to offer a good, reasonable gain. Now I’m considering saving to earn interest, but finding an exchange that offers high APR is not so easy these days.

Do you know of any CEX that has fixed-term products available for subscription with a high APR?

It is not easy to find a reputable exchange that offers a high APR, it is a completely logical thing because a serious platform will not offer unrealistic percentages. I would suggest that you stay away from assets that offer a high APR because, at the end of the staking period, you will have at best the same value or only a small loss.
Higher potential profit always brings high risk.

sunsilk

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Quote from: PX-Z on August 10, 2024, 10:35:35 AM

Quote from: sunsilk on August 10, 2024, 07:55:03 AM

...What I don't like with these centralized exchanges is they're telling that they're offering staking but it's not.

That's sort of misleading to their users and making them believe that they're staking but, the other side of it tells that they're only lending the money and gives interest in return.

That's make sense as it only for marketing purposes due to "staking" instead. Because IMO CEX offering "lending" will probably trigger authorities for another charge for whatever they will think.

Yeah, there could be some issues on it legally - I don't know and that's why they're changing the term of it.

Someone who's seen the offers they're giving to their users about these interest rates is encouraging because it is passive. But the risk of it need to be checked and understood by someone who's taking it.

Before, we've been trusting these exchanges, the centralized ones with our money but upon realizing that they can go south any time, we've come to understand that they shouldn't be.

TheUltraElite

legendary

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So anyway, I applied as a merit source :)

Leaving your coins on the exchange for the sake of staking has proven painfully frustrating for many users before you.

IF (<
You can otherwise try buying bitcoin at the lows. That "boredom" you are having, you have to get over it, because bitcoin is for long term. If you have come in for the quick money, then you were mistaken.

Rikafip

legendary

Activity: 1722

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Quote from: Yamane_Keto on August 10, 2024, 06:37:10 AM

If you want a safe return on your coins, deposit your money in banks as government laws may protect you

And get what, 0.1% interest? While banks are definitely way more safe than exchanges, your money in them is safe until it isn't.

Quote from: Iamcrypticguy on August 11, 2024, 01:01:40 AM

BWB on Bitget earn has a good one. Other exchanges has some solid staking programmes too that can be looked at by op

Considering how BWB chart looks like, you'd have to be crazy to stake their tokens. Actually, you'd have to be crazy to stake it no matter the chart.

Iamcrypticguy

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Navigating the Crypto world & Holding BGB Along..

Quote from: Yamane_Keto on August 10, 2024, 06:37:10 AM

If you want a safe return on your coins, deposit your money in banks as government laws may protect you, but in cryptocurrencies the only way is to accept the conditions of POS coins, some of them require about 32 Ethereum or you can start with any amount as in the case of ADA. Services that give you profits from Bitcoin deposits are usually scams.

That's for whales. How many traders have 32eth? That's a lot. Imo though, they're other offers than can get you some cool APYs..double digits. BWB on Bitget earn has a good one. Other exchanges has some solid staking programmes too that can be looked at by op

PX-Z

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Quote from: sunsilk on August 10, 2024, 07:55:03 AM

...What I don't like with these centralized exchanges is they're telling that they're offering staking but it's not.

That's sort of misleading to their users and making them believe that they're staking but, the other side of it tells that they're only lending the money and gives interest in return.

That's make sense as it only for marketing purposes due to "staking" instead. Because IMO CEX offering "lending" will probably trigger authorities for another charge for whatever they will think.

sunsilk

hero member

Activity: 3038

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Quote from: Yamane_Keto on August 10, 2024, 06:37:10 AM

some of them require about 32 Ethereum

In this case, if OP or someone doesn't have this much. They can join the Ethereum pooled staking.

But with what OP likes, he seems to be motivated to do this thing on CEXes. What I don't like with these centralized exchanges is they're telling that they're offering staking but it's not.

That's sort of misleading to their users and making them believe that they're staking but, the other side of it tells that they're only lending the money and gives interest in return.

Yamane_Keto

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If you want a safe return on your coins, deposit your money in banks as government laws may protect you, but in cryptocurrencies the only way is to accept the conditions of POS coins, some of them require about 32 Ethereum or you can start with any amount as in the case of ADA. Services that give you profits from Bitcoin deposits are usually scams.

Eternad

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Quote from: LiquidationBro on August 09, 2024, 01:11:42 PM

Even though the market is kind of stabilizing now, I’m still not comfortable trading. And Sitting here in boredom isn’t really for me. I’ve looked into many ways to make something from the market, but none seem to offer a good, reasonable gain. Now I’m considering saving to earn interest, but finding an exchange that offers high APR is not so easy these days.

Do you know of any CEX that has fixed-term products available for subscription with a high APR?

You can’t expect something good APY/APR on CEX since they are like banks that gives small interest rate on lesser volatile assets.

DEX offer more APY because they optimize the interest rates base on the demand on their DeFi. A protocol like Beefy Finance offers much better interest than CEX. But if you are not comfortable with DeFi then try the earn feature of new hot exchange like Bitget since they usually offer appetizing rates to attract customers and compete with top exchange like Binance.

tabas

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Most of them have the same APR/APY if you're going to compare the interest rates that they're giving specifically to the stablecoins. I am talking about the top, popular, and common centralized exchanges. But if you'd ask everyone if it is a worth-it strategy to grow your money by just sitting it down there, of course not. You're taking the risk too much without having to hold your assets and pass them to the exchange. I assume that you're talking about the stable coins and not the typical altcoins. Anyway, if you still won't listen to us, that's for you to take the risk and it is your money to govern.

Rikafip

legendary

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The problem with your idea is that in order to get any reasonable profit, you'd have to put a substantial amount of money on a centralized exchange which means losing all control over it.

In my opinion, it's simply not worth the risk for a few percentage points of APR which is about as much as you can expect from a legitimate CEX.

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

It is not good to leave your coins on an exchange. It is better to buy bitcoin instead and hold it on noncustodial wallet. You can DCA.

If you are looking for stable coins savings and high APY, I do not think there are exchanges that will offer it. But you can see the ones with low APR. If you go to savings and stakings on the those well recognized centralized exchanges, you will see the offer. I do not recommend such.

LiquidationBro

newbie

Activity: 10

Merit: 0

Even though the market is kind of stabilizing now, I’m still not comfortable trading. And Sitting here in boredom isn’t really for me. I’ve looked into many ways to make something from the market, but none seem to offer a good, reasonable gain. Now I’m considering saving to earn interest, but finding an exchange that offers high APR is not so easy these days.

Do you know of any CEX that has fixed-term products available for subscription with a high APR?

Topic: Looking for Fixed-Term Savings with High APR on CEX (Read 158 times)