Topic: Passive income : Bank interest vs staking - page 3. (Read 1140 times)
Of course, comparing interest banks with staking such as comparing ants and elephants, in my country, banks only give about 10%, whereas now many stakes are giving up to hundreds or even thousands of percent, and this is what makes me prefer to make staking as a top priority for Earning and farming money.
Yes I still have Bank Savings till now but at least that is just a tip of the ice berg from how much i have in my crypto savings, Staking? yeah i am onto it but In Binance only , that is the only staking place where i trust more than anything.
i tried others in the past but I did not get what seems to be promised so i focus in staking in binance up to now.
Bank interest is far lower than what i can take in staking but at least I wanna make sure that I am ready in everything that would happen in the future.
binance still be best exchanges staking platform due its reputation handling hacking case in the past.with SAFU we should not worry if have any assets there, and staking on binance could best decision we mad. if compare on bank saving return and stakin in cryptocurency, its totally different,we have huge gap here. i tried others in the past but I did not get what seems to be promised so i focus in staking in binance up to now.
Bank interest is far lower than what i can take in staking but at least I wanna make sure that I am ready in everything that would happen in the future.
Things have gone pretty stale on Binance Smart chain the past few weeks, I'm now planning to move some funds to another network, since APYs have severely decreased on the vaults I was interested in. The Fantom network has some pretty interesting ones, with over 50% APY on stablecoins.
Just because the APY is lower, doesn't mean that it is not profitable, nor does it mean it shouldn't be invested. Main reason why the APY is lower is the fact that there are a lot more people investing into it. If you are using stablecoins then the low APY is understandable and you should focus on something else, but if the APY is based on some good token or coin, like for example Cake or BNB ones? Then you could still keep it because it could go up as well.I personally still hold all my BNB and Cake staking because in the end we are going to end up earning from the staking rewards, but also from the increase in price. I do not trust other networks for the price reason, even though staking rewards could be higher.
on which you could able to determine and see on how they do perform and able to see on how many had been supporting it.Its true that the more people who are engage to it then the lower
APY but its true that it doesnt mean that it would be a bad idea on engaging into it.ITs better to have this one compared into those high APY but in speaking with risk then you cant
really make out some assurance.
Things have gone pretty stale on Binance Smart chain the past few weeks, I'm now planning to move some funds to another network, since APYs have severely decreased on the vaults I was interested in. The Fantom network has some pretty interesting ones, with over 50% APY on stablecoins.
Just because the APY is lower, doesn't mean that it is not profitable, nor does it mean it shouldn't be invested. Main reason why the APY is lower is the fact that there are a lot more people investing into it. If you are using stablecoins then the low APY is understandable and you should focus on something else, but if the APY is based on some good token or coin, like for example Cake or BNB ones? Then you could still keep it because it could go up as well.I personally still hold all my BNB and Cake staking because in the end we are going to end up earning from the staking rewards, but also from the increase in price. I do not trust other networks for the price reason, even though staking rewards could be higher.
With APY no more than 10% per year then I think there is no interesting thing about Banks, it's better to invest in Crypto then we use it for staking, although binance gives APY 6% but we hope that a fantastic price increase is more important than the APY staking We get it.
A few weeks ago, I put a decent sum of money on UST-BUSD, it had 30-40% APY back then, now it has fallen to 5-10% and I'll possibly switch to another vault. However, Beefy now has a BUSD vault on Binance Smart Chain, featuring 13.39% (or 0.0319% daily), it was around 35% a few days ago, but it seems to have lowered now.There are plenty of other options as well, if you check other networks too.
In this example, if we have 10 bucks invested into it, then each dollar will get back 10 dollars back, but if we have 100 dollars than each dollar will get another dollar back. This is what happens when APY drops, the distributed amount is the same but invested amount is lower. This results with lower APY and usually proves you that you are investing into a trusted pair for sure.
There's no brainer if we do compare out bank interest to APY which been offered with staking with altcoins which you do say that most of them are scams and the rest do really fails. 5-10% APY is really realistic
but offering above those numbers are basically not really that suggestable for you to engage on and as been said or mentioned that its price would be crashing until you do end up on earning nothing or peanuts.
Its never been recommended to consider out staking as a good way of investing considering the duration and risk involved into it.
Up to 16% is still fine because I've seen legitimate exchanges that do offer that APY for staking some specific tokens and coins. The risk on it is that your fund is on exchange. but offering above those numbers are basically not really that suggestable for you to engage on and as been said or mentioned that its price would be crashing until you do end up on earning nothing or peanuts.
Its never been recommended to consider out staking as a good way of investing considering the duration and risk involved into it.
And you know what comes with that risk when you don't hold the keys and that's going to be on the exchange's jurisdiction and you'll never know if they've been casually checking their security for loopholes.
Indeed saving money in bank preserves our money for us. But the issue with keeping your money in the bank is that you are hardly getting anything. Staking can be more profitable and risky at the same time. You can make good profit from staking your cryptocurrency, and even more as the true value of the asset you have staked continues to increase. But when that is not the case, it would be the opposite which is a loss due to the true value of the asset you are holding decreasing.
But, majority of the people would always prefer to stake their money than just leaving it in the bank and making nothing. Although as usual you will always need to have some part of it saved in the Bank, while another part can go for staking or whatever you choose.
For me the essence of saving money in the bank is for savings only that you can have the opportunity to withdraw it anytime your money is needed but if you are putting your money in a system and hoping for it to grow then staking is the best option. In my case I didn't put my money more on a bank if I know that I would keep it here for a three months or more because if I put it on staking within this expand of time there will be the probability to grow.
One of the biggest or main hindrance or reason on why we do really hesitate on making out such option due to security or scam or hacking involvement on where we cant really assure on a years time there
wont really be those kind of probability which we would really be thinking off on our investment for that long.Yes, we could possibly earn more than on what we could earn in banks but the risk involved
would really be still high and if you could able to bare it out then go ahead but im sure that most people wont really be that seeing this thing to be appealing.
Indeed saving money in bank preserves our money for us. But the issue with keeping your money in the bank is that you are hardly getting anything. Staking can be more profitable and risky at the same time. You can make good profit from staking your cryptocurrency, and even more as the true value of the asset you have staked continues to increase. But when that is not the case, it would be the opposite which is a loss due to the true value of the asset you are holding decreasing.wont really be those kind of probability which we would really be thinking off on our investment for that long.Yes, we could possibly earn more than on what we could earn in banks but the risk involved
would really be still high and if you could able to bare it out then go ahead but im sure that most people wont really be that seeing this thing to be appealing.
But, majority of the people would always prefer to stake their money than just leaving it in the bank and making nothing. Although as usual you will always need to have some part of it saved in the Bank, while another part can go for staking or whatever you choose.
With APY no more than 10% per year then I think there is no interesting thing about Banks, it's better to invest in Crypto then we use it for staking, although binance gives APY 6% but we hope that a fantastic price increase is more important than the APY staking We get it.
A few weeks ago, I put a decent sum of money on UST-BUSD, it had 30-40% APY back then, now it has fallen to 5-10% and I'll possibly switch to another vault. However, Beefy now has a BUSD vault on Binance Smart Chain, featuring 13.39% (or 0.0319% daily), it was around 35% a few days ago, but it seems to have lowered now.There are plenty of other options as well, if you check other networks too.
In this example, if we have 10 bucks invested into it, then each dollar will get back 10 dollars back, but if we have 100 dollars than each dollar will get another dollar back. This is what happens when APY drops, the distributed amount is the same but invested amount is lower. This results with lower APY and usually proves you that you are investing into a trusted pair for sure.
I almost do not believe in projects that provide APY up to thousands of percent, it really looks like a scam or it won't last more than a few months. this really brings too much risk, I would never staking such projects.
Should choose projects with a reasonable percentage and those that have been recognized as safe to invest and stake. Along with that, choosing a platform to stake is also extremely important, we should only stake reputable, leading platforms.
That is because they are 99% scams and 1% will fail, that is why. Any project that offers thousands of percent APY returns cannot sustain that and will either go down to a realistic level or they will be gone. Look at Pancakeswap, they provide something realistic for the good ones, but look at the small cap stuff there, they are offering high levels but their prices always keep on crashing lower and lower and can't be sustained and never stay high.Should choose projects with a reasonable percentage and those that have been recognized as safe to invest and stake. Along with that, choosing a platform to stake is also extremely important, we should only stake reputable, leading platforms.
This is why if you see a project that offers anything high, you should stay away from it. Things like 20-30% is not really impossible in crypto, that could be done, and things that are 10% or under are usually decent.
but offering above those numbers are basically not really that suggestable for you to engage on and as been said or mentioned that its price would be crashing until you do end up on earning nothing or peanuts.
Its never been recommended to consider out staking as a good way of investing considering the duration and risk involved into it.
Sometimes we lose and other times we win. I remember having made my first staking with two tokens frm and nexo.
After a year, when I unlock the Staking, I can see my benefits.
I won a high ROI in FRM for being a token that was barely growing up in the market.
However, even though the token nexo has an impressive marketing machinery, the benefits I got were low.
After that experience, I never saw banks as a better place for my savings.
Investing in Crypto is risky, it is worth taking into account not put all the eggs in a basket.
After a year, when I unlock the Staking, I can see my benefits.
I won a high ROI in FRM for being a token that was barely growing up in the market.
However, even though the token nexo has an impressive marketing machinery, the benefits I got were low.
After that experience, I never saw banks as a better place for my savings.
Investing in Crypto is risky, it is worth taking into account not put all the eggs in a basket.
I almost do not believe in projects that provide APY up to thousands of percent, it really looks like a scam or it won't last more than a few months. this really brings too much risk, I would never staking such projects.
Should choose projects with a reasonable percentage and those that have been recognized as safe to invest and stake. Along with that, choosing a platform to stake is also extremely important, we should only stake reputable, leading platforms.
That is because they are 99% scams and 1% will fail, that is why. Any project that offers thousands of percent APY returns cannot sustain that and will either go down to a realistic level or they will be gone. Look at Pancakeswap, they provide something realistic for the good ones, but look at the small cap stuff there, they are offering high levels but their prices always keep on crashing lower and lower and can't be sustained and never stay high.Should choose projects with a reasonable percentage and those that have been recognized as safe to invest and stake. Along with that, choosing a platform to stake is also extremely important, we should only stake reputable, leading platforms.
This is why if you see a project that offers anything high, you should stay away from it. Things like 20-30% is not really impossible in crypto, that could be done, and things that are 10% or under are usually decent.
With APY no more than 10% per year then I think there is no interesting thing about Banks, it's better to invest in Crypto then we use it for staking, although binance gives APY 6% but we hope that a fantastic price increase is more important than the APY staking We get it.
A few weeks ago, I put a decent sum of money on UST-BUSD, it had 30-40% APY back then, now it has fallen to 5-10% and I'll possibly switch to another vault. However, Beefy now has a BUSD vault on Binance Smart Chain, featuring 13.39% (or 0.0319% daily), it was around 35% a few days ago, but it seems to have lowered now.There are plenty of other options as well, if you check other networks too.
Oh please, do we even need to compare these two things? Damn, I really do not think that if a person knows a lot about staking crypto or has at least enough knowledge about it, he would still consider going for banks as an option if he wants to gain anything from his hard earned money. I mean, just think about it, the difference is just too far apart. Even more so for staking platforms that has just started yet. Of course the risks on crypto staking can be worrisome which is why I mentioned knowing a lot about staking or at least enough knowledge about it. The only thing that is hindering a person from achieving financial goals nowadays is himself. Learn, experience and take reasonable risks. That is how you will be able to achieve more at this day and age specially in this industry.
With APY no more than 10% per year then I think there is no interesting thing about Banks, it's better to invest in Crypto then we use it for staking, although binance gives APY 6% but we hope that a fantastic price increase is more important than the APY staking We get it.
I have money allocated both in staking and in bank deposit, I'm not using the latter to take advantage of the interest, it's no use. Funds are certainly assured in a bank, however, if you're careful enough, staking stablecoins is just as safe, while achieving a far greater yield, 10-20% in the worst case scenario. Deposits on the other hand, will yield less than 1-2% on a yearly basis. The reason I'm using them is solely for convenience and to receive salary.
Staking is far way more better than Bank interest. And the method should widely be encouraged by government.
Not only that, imagine a situation whereby a staked coin got appreciated in price you will realize higher returns than expected returns, this is the most interesting part of staking in crypto when compared to Bank interest, Op, where the only benefit is only base on the percentage return.
Not only that, imagine a situation whereby a staked coin got appreciated in price you will realize higher returns than expected returns, this is the most interesting part of staking in crypto when compared to Bank interest, Op, where the only benefit is only base on the percentage return.
This is the advantage of decentralized over centralized since the interest rate being distribute to the stakers is high since there’s no much operating cost involved in running a DeFi system while on the other hand Banks need to pay there employee, tax and other miscellaneous plus the profit of owner which will be deducted on the supposed to be the interest of peoples money. We should not blame banks for low interest because they need to have profit in able to survive.
Bitcoin has forced the hand of banks as now more people are interested in parking their savings there or in some other coins and obtain way better benefits, banks are finally realizing the problem, which is why we are seeing yet another round of FUD against bitcoin and the market in general.
Yes I still have Bank Savings till now but at least that is just a tip of the ice berg from how much i have in my crypto savings, Staking? yeah i am onto it but In Binance only , that is the only staking place where i trust more than anything.
i tried others in the past but I did not get what seems to be promised so i focus in staking in binance up to now.
Bank interest is far lower than what i can take in staking but at least I wanna make sure that I am ready in everything that would happen in the future.
fiat saving still needed for emergency condition , maybe put some money into cyrpto and fiat saving will be ideal for us. staking in binance has best security layer and also our money here 100% guarantee . if any loss , their exchanges will replace it using SAFU fund. crypto staking has bigger APY if compared with bank saving or deposit. but we must also calculate the volatility in future.i tried others in the past but I did not get what seems to be promised so i focus in staking in binance up to now.
Bank interest is far lower than what i can take in staking but at least I wanna make sure that I am ready in everything that would happen in the future.
opt on staking but its not really that suggestible considering on the risk involved.Earnings per year might be that bigger than with Banks are offering but this isnt something that you could compare out in terms
of assurance or security of your money and with just common sense then you would able to identify out for yourself about main differences.
Yes I still have Bank Savings till now but at least that is just a tip of the ice berg from how much i have in my crypto savings, Staking? yeah i am onto it but In Binance only , that is the only staking place where i trust more than anything.
i tried others in the past but I did not get what seems to be promised so i focus in staking in binance up to now.
Bank interest is far lower than what i can take in staking but at least I wanna make sure that I am ready in everything that would happen in the future.
fiat saving still needed for emergency condition , maybe put some money into cyrpto and fiat saving will be ideal for us. staking in binance has best security layer and also our money here 100% guarantee . if any loss , their exchanges will replace it using SAFU fund. crypto staking has bigger APY if compared with bank saving or deposit. but we must also calculate the volatility in future. i tried others in the past but I did not get what seems to be promised so i focus in staking in binance up to now.
Bank interest is far lower than what i can take in staking but at least I wanna make sure that I am ready in everything that would happen in the future.
DEXs provide attractive interest rates, but they're extremely risky as any vulnerability in the code or a drop in market prices could make you lose everything in an instant. As it's said in the real world, "the higher the risk, the higher the reward". ...
As a rule, scammers use vulnerabilities in DEX that have been recently launched. And as a rule, such new platforms offer the highest APY that cannot be compared with the interest rates of traditional banks. So everyone should decide for themselves what is more important for them, reliability with a small APY or risk with a large one.
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