It's possible since they are still new compared to them and as I can see, there's still a lot of Bitget army in the forum shilling the exchange. They always try their best to ensure that they will stand out and get noticed by the crowd. Binance and the likes exchange might be more popular than in Bitget but they still shared the same risk because all of them are centralized.
I don't know why they are doing it the wrong way. There is nothing wrong with promoting the service here. If they had created a signature campaign instead of armies of newbies' accounts, it would have been better for them. One of the reasons I did not register with that service is that their method of promoting their product does not look professional and it is difficult for me to trust them with my deposits. 
Topic: Savings APR reduction normal? (Read 157 times)
Guys, Is this normal or does this usually happens?
So, I checked my Binance app to check my USDT I stored in the Savings to see how far profit I have gotten, I realised that the APR has reduced to 7.5%. I thought maybe is a general issue, then I went to my Bitget to check as I also have some USDT stored in their Flexible savings and realised is still at 15%
I want to know if this happens occasionally or there's a reason for the sudden reduction. Mind you, this is my first time using USDT savings to store my USDT. You know, I need the safest way I can keep my usdt and it will generate some profit because I need to buy some coins when market is in deep and not risking them all in trading right now.
So, I checked my Binance app to check my USDT I stored in the Savings to see how far profit I have gotten, I realised that the APR has reduced to 7.5%. I thought maybe is a general issue, then I went to my Bitget to check as I also have some USDT stored in their Flexible savings and realised is still at 15%
I want to know if this happens occasionally or there's a reason for the sudden reduction. Mind you, this is my first time using USDT savings to store my USDT. You know, I need the safest way I can keep my usdt and it will generate some profit because I need to buy some coins when market is in deep and not risking them all in trading right now.
It is normal as the APR depends largely on how much USDT Binance has in circulation. If the USDT in circulation is less they will increase the APR but if it not less then they will reduce the APR. It only happens if you are using flexible saving. If you don't use flexible saving then you will never see such changes in the APR.
Bitget may increase Flexible Savings to higher limits than Binance or all CEXs to attract investors, but in the end, keeping USDT in Bitget is higher risk than Binance, so be careful and do not limit your investment outlook only to profit, especially since what happened to FTX could be repeated and you will lose your entire investment.
Diversifying your investment base is better, even if it comes at the expense of reducing your profits. I also believe that buying Bitcoin will give you an APR higher than 15%, especially since we are in a rising market.
It's possible since they are still new compared to them and as I can see, there's still a lot of Bitget army in the forum shilling the exchange. They always try their best to ensure that they will stand out and get noticed by the crowd. Binance and the likes exchange might be more popular than in Bitget but they still shared the same risk because all of them are centralized.Diversifying your investment base is better, even if it comes at the expense of reducing your profits. I also believe that buying Bitcoin will give you an APR higher than 15%, especially since we are in a rising market.
So, it's better to store only small amounts on them or much better to not leave any of your valuable inside them because they can hold and confiscate it for no reasons other than the risk of their platform to get hacked. BTC is definitely better than USDT or any earn program related to it, so it should be the one that we should prioritized.
Yup, they're normal. The more users participate on these savings products of exchanges or wallets, the reduction of the percentage of APY/APR is happening. It's part of the process for them to sustain the promised APR that they've projected so, it's always adjusting based on how many users have availed that. Whether they're fixed or flexible deposits, they're going to change it without prior notice so don't be surprised if yours was reduced.
Since both platforms are not the same, so is there rules, binance may have reduced their APR payment percentage while the other exchange still mentain same old percentage payment, sometimes those rule that are in their term and conditions give them some right to reduce the payme to without consulting or information the investors who have staked they money.
Any ways you can decide to endur till the end of the staking period a d there after move you money to the other exchange that have higher payments.
Any ways you can decide to endur till the end of the staking period a d there after move you money to the other exchange that have higher payments.
I'm going to do that. I was thinking of removing and stake in the other cex immediately but I gotta be patient till my stake expires. Just like 5 days left and I'll do that
Who wouldn't want higher returns? You should though. I think their growing protection funds should also give you confidence as an extra layer of security.... Found this article that might help as a beginner. https://medium.com/@iceangelian01/the-beginners-guide-to-earning-crypto-interest-with-bitget-flexible-savings-deac817f2b23
Generally the APR goes down when the funding rates go down. When funding rates are high for bitcoin and Ethereum then you can expect your stablecoins to have higher APRs.
However the last few weeks funding has been low and until we break ATHs I don’t think the rates will improve. When more traders borrow stablecoins to long crypto, usually the market goes up and you get higher APR.
Market looks primed for another leg up, so we might get better rates in the close future.
However the last few weeks funding has been low and until we break ATHs I don’t think the rates will improve. When more traders borrow stablecoins to long crypto, usually the market goes up and you get higher APR.
Market looks primed for another leg up, so we might get better rates in the close future.
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Guys, Is this normal or does this usually happens?
It's normal. APY was dynamic and it's not static. It can change depending on the numerous factors. I want to know if this happens occasionally or there's a reason for the sudden reduction. Mind you, this is my first time using USDT savings to store my USDT. You know, I need the safest way I can keep my usdt and it will generate some profit because I need to buy some coins when market is in deep and not risking them all in trading right now.
Quote
APY or APR is a projection based on the rewards we have historically received
(“Staking Rewards Rate”) from the applicable asset protocol.
This rate is set by the applicable blockchain protocol, and is neither controlled, influenced, nor determined by Binance Staking and will change (and thus, the APR will change dynamically).
Each blockchain sets its underlying rewards rate depending on various factors. The APR may be adjusted to account for funds we hold back from staking as part of our liquidity reserve, if applicable.
https://www.reddit.com/r/binance/comments/xde8o5/why_does_binance_keep_reducing_staking_apy_rates/(“Staking Rewards Rate”) from the applicable asset protocol.
This rate is set by the applicable blockchain protocol, and is neither controlled, influenced, nor determined by Binance Staking and will change (and thus, the APR will change dynamically).
Each blockchain sets its underlying rewards rate depending on various factors. The APR may be adjusted to account for funds we hold back from staking as part of our liquidity reserve, if applicable.
I have been seeing similar question like your since a few years ago and this is a small explanation from binance mod regarding reasons why binance reduces its APY/APR. Never think it will give you static reward caused by there are numerous factors that greatly affecting the ratio for APY.
Binance can reduce it anytime and it's something normal. If you are thinking it's too low then move to the dapps
The APR percentages are different for every platform and they differ. Now it could be both:
It might be because binance wants to attract the users to its platform that what it may have reduced the APR percentage. Or it might be that because of sudden bans on binance it's users have decreased and it might be planning for some strategies so that the customer think for a revert. As you have mentioned that they have reduced the APR to half of the amount from the Bitget platform. Whatever the case is we should get the benefit out and we should try not to stress on these kinds of update unless they are benefiting us.
It might be because binance wants to attract the users to its platform that what it may have reduced the APR percentage. Or it might be that because of sudden bans on binance it's users have decreased and it might be planning for some strategies so that the customer think for a revert. As you have mentioned that they have reduced the APR to half of the amount from the Bitget platform. Whatever the case is we should get the benefit out and we should try not to stress on these kinds of update unless they are benefiting us.
So, I checked my Binance app to check my USDT I stored in the Savings to see how far profit I have gotten, I realised that the APR has reduced to 7.5%. I thought maybe is a general issue, then I went to my Bitget to check as I also have some USDT stored in their Flexible savings and realised is still at 15%
It's on their terms and conditions that these rates will be changed anytime, it depends on them.You can try other exchanges, there are some exchanges that have some tiers, where for example from 0 - 500 USDT, you can earn 15%, but if you surpass on that, it's another tier and the percentage of APR is decrease.
Bitget may increase Flexible Savings to higher limits than Binance or all CEXs to attract investors, but in the end, keeping USDT in Bitget is higher risk than Binance, so be careful and do not limit your investment outlook only to profit, especially since what happened to FTX could be repeated and you will lose your entire investment.
Diversifying your investment base is better, even if it comes at the expense of reducing your profits. I also believe that buying Bitcoin will give you an APR higher than 15%, especially since we are in a rising market.
Diversifying your investment base is better, even if it comes at the expense of reducing your profits. I also believe that buying Bitcoin will give you an APR higher than 15%, especially since we are in a rising market.
Since both platforms are not the same, so is there rules, binance may have reduced their APR payment percentage while the other exchange still mentain same old percentage payment, sometimes those rule that are in their term and conditions give them some right to reduce the payme to without consulting or information the investors who have staked they money.
Any ways you can decide to endur till the end of the staking period a d there after move you money to the other exchange that have higher payments.
Any ways you can decide to endur till the end of the staking period a d there after move you money to the other exchange that have higher payments.
I'm going to do that. I was thinking of removing and stake in the other cex immediately but I gotta be patient till my stake expires. Just like 5 days left and I'll do that
Since both platforms are not the same, so is there rules, binance may have reduced their APR payment percentage while the other exchange still mentain same old percentage payment, sometimes those rule that are in their term and conditions give them some right to reduce the payme to without consulting or information the investors who have staked they money.
Any ways you can decide to endur till the end of the staking period a d there after move you money to the other exchange that have higher payments.
Any ways you can decide to endur till the end of the staking period a d there after move you money to the other exchange that have higher payments.
Guys, Is this normal or does this usually happens?
So, I checked my Binance app to check my USDT I stored in the Savings to see how far profit I have gotten, I realised that the APR has reduced to 7.5%. I thought maybe is a general issue, then I went to my Bitget to check as I also have some USDT stored in their Flexible savings and realised is still at 15%
I want to know if this happens occasionally or there's a reason for the sudden reduction. Mind you, this is my first time using USDT savings to store my USDT. You know, I need the safest way I can keep my usdt and it will generate some profit because I need to buy some coins when market is in deep and not risking them all in trading right now.
So, I checked my Binance app to check my USDT I stored in the Savings to see how far profit I have gotten, I realised that the APR has reduced to 7.5%. I thought maybe is a general issue, then I went to my Bitget to check as I also have some USDT stored in their Flexible savings and realised is still at 15%
I want to know if this happens occasionally or there's a reason for the sudden reduction. Mind you, this is my first time using USDT savings to store my USDT. You know, I need the safest way I can keep my usdt and it will generate some profit because I need to buy some coins when market is in deep and not risking them all in trading right now.
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