Topic: Question about APR inside Exchanges (Read 71 times)

It is risky to keep your money in exchange, you mentioned that hotbit already got hacked so It can be back again. So I prefer not to keep your money in exchange.

Your APY calculation is correct, and usually Staking on an exchange has a limit of participants, not everyone can follow it.

By the way, like the above people you have to be careful leaving money on an exchange because we will never know what will happen.

1-For sure move it out of hotbit as soon as you will be able to. They are online like 90% of time because of unexpected maintenance couple times a week. Its system is so weak that it crashes all the time (whats other reason for unexpected maintenance? ). They either have to do this because of system crash or they dont care about their users funds (not letting you know before - exposing you to currency risk for longer than you want based on your trading/investing strategy). It was a matter of them when they will be hacked with such poor software. It is a matter of time they will be hacked once again. This time successfully (stealing funds).

2-As semobo said ... you are exposed to currency risk and eth price fluctuations. But if you are long term hodler it may be better to stake it rather than not doing it. But i would choose better exchange (like binance). I know that "not your keys not yor coins" but in 2021 exchanges like binance are too big to die. Its not 2014 anymore. Kucoin was hacked, lost almost $300 milion of funds, recovered 80% (altcoin forks, usdt locks etc), covered rest money from insurance and continue to operate. What will kill binance that is couple times bigger? I guess that their security is better than most banks. And if you are not an expert holding funds on binance account might be safer than on your wallet with priv key saved on the desktop as a text file - most common mistake, or not saved at all - second most common mistake or as screen shot on phone - third most common miste, or send via facebook,whatsapp.

Don't ever keep your money on exchanges and the exchange you are talking about is shady so first thing you need to do is to move your ethereum out of that exchange.

Staking is available on some exchanges but does it really worth?

No, don't consider that $80,000 in yoir value just consider it as i ethereum in numbers so in the one year time the price of ethereum crashed from 3000 to 300, you will be in 90% loss.

I have a question about leaving my money inside an exchange. It says i will earn 15% annually if i leave my ethereum inside the exchange. so if i have $80,000 worth of Ethereum. I will get $12,000 per year for leaving it in there? My exchange is Hotbit.io and it actually got hacked recently. But yeh. I heard coinbase offer this too. im not sure. Is this APR thing Good??