Stacking cryptocurrencies with Interest

masterrex

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

IMHO 4-6% annual interest is not that big but quite attractive if i have a chance to stake my crypto with that said interest rates, i'll do it. but in one condition! its about the security of the said platform who offered that interest, no matter how attractive those offer still the more important question is are they safe and honest enough to gain my trust. after all that i have been true in crypto investment i already learn my lesson. stay vigilant as always.

Kvalentine

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If you want to take risks on coins with staking ability its lot safer with old altcoins that have been in existence for years, the returns are always more lower like 6% annually but they are genuine compare to new altcoins of today that gives or promise investors over 15% annual returns, when something is too good to be true its probably because they are.

zenhu

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I know what happen next with these stack and interest, its surely will be scam until the day come, but i dont know when exactly. Waiting for more people deposit their crypto into the dev, hopely they can get rich by waiting for stack and interest but in fact dev will go away. Its not so that easy to be fund manager.
Just manage your money by yourself, that will give you more income than believing other guys.

erickastella

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I do not fully believe, for me trading is a way to meet additional profits other than bounty hunters and airdrops, I am a little worried about that, I have more confidence in local banks in my country, besides being easy to declare complaints rather than cryptocurrency

Pearls Before Swine

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Quote from: TaliskerDarkStorm on October 16, 2019, 12:51:26 PM

But in some countries, banks provide far more interest rates. Like third countries of world, these rates are more than 10%.

Really? How can that even be possible these days unless those 3rd world countries have astronomical inflation? Interest rates around the world are as low as they've been in years.

Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Truth be told, I had no idea any exchanges were offering these services and I will have to look into it. Would I trust an exchange like Binance not to scam me? I sure would. But I've never heard of BlockFi, so that would be a big 'no'. It is risky letting an exchange use your money like that, but those interest rates do look very attractive.

xiboothrezi

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Quote from: BigBoy89 on October 19, 2019, 01:00:00 PM

When people trade on margin, they need to borrow 'the difference'. From there, you have a Lending secondary market and profit.
While I can't fully trust BlockFi, I'm lending all my coins on Binance when I'm not using them. There is no point to miss any 'free' coins.

Wise choice. This is more for effectiveness. The cool term 'Earn While You Sleep', unwittingly coins are added to our wallet. Like getting interest from conventional banks, the nominal is not too large. Then whatever value is saved will get a percentage every year. The advantage of staking is that one does not require sophisticated devices, obsolete computers can also be used as long as they are connected to the internet.

BigBoy89

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When people trade on margin, they need to borrow 'the difference'. From there, you have a Lending secondary market and profit.

While I can't fully trust BlockFi, I'm lending all my coins on Binance when I'm not using them. There is no point to miss any 'free' coins.

BChydro

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

They might be using the coins for daily use rather than touching their cold wallets to send out the coins and Binance does lend out coins but i am not sure about blockFI as i never used them.

Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

I will never risk my coins in any of these platforms even if they give a higher rate of interest as i know and have seen and experienced exchanges being hacked and investors loosing money in the past and i do not want to risk that. My coins are only safe when i hold them as anything can happen in a market and there is no insurance to these exchanges to risk the coins like that.

SistaFista

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Hexhash.xyz

Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Not really high for me, 4-6% per year is a low return rate which is good because it is usually legit.
If you compare with fiat, you can deposit your money into time deposit and get return up to 7-8% annually.
We should be careful if there are some investment that offers a high rate return, it might be scam.

Upgate

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Quote from: bigcash2011 on October 16, 2019, 12:57:40 PM

Every investment is risky especially online investments are regarded as highly risky investments, i think solid exchanges and wallets that are providing this service are good to go but to be honest 4 to 6% for a year is just not attractive in crypto world where you can do it in a short term trade.

You can do it in a short term and also lose it in a short term however you made it know that online investment is risky and cryptocurrency is an online investment.
However I have safety assured when I invest in bitcoin, this not to say altcoins are not say but you have to watch it

apoorvlathey

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There are a lot of decentralized lending projects and emerging DeFi services emerging. But keeping my coins onto some third party always seems risky to me. Might be the whole be your bank case with bitcoin and other cryptocurrencies that I prefer to just keep my coins with myself.

You can read my thread which deals with a similar topic: Earning interest on coins through DeFi. Is it Safe/Legit?

TrevorS

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It can be assumed that the coin exchanges pay interest rates due to the retained value from the hold. After all, the more coins are in the hold, the less likely the price will fall, or rather, the decline will be less significant depending on the number of coins circulating in the market.
Also, while the coins are in the hold of the exchange, they are used to provide liquidity and to issue loans. As a result, the circulation of money continues and at the right time you receive your dividends.

Wintersoldier

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Quote from: 3DBrushes on October 17, 2019, 08:20:48 AM

Quote from: Murat on October 17, 2019, 05:43:17 AM

I think 4-6% annual interest rate is not worthy for the people whereas the conventional banking system offering you to avail more than 10% interest with a high level of security, So why people choose this platform instead of the Bank, I know a lot bank which provides more than 10% interest rate annually, but when you work with Binance or some big exchange then you will get less interest rate, I think every investment contains little bit risk factor but online platform we face a lot of risks but gained is comparatively lower than any other platform, but it also true that if you consider about the cryptocurrency price volatility then the rate of interest is not bad at all.

In my country, 4 - 6% interest is offered by a general savings banks account with less minimum balance and with a good security. 7 - 10% can easily be achieved in Bank fixed deposits or debt and liquid mutual funds. 99.99% of the time interest is guaranteed so if crypto investment offers more interest than this then it's a good idea to invest.

People nowadays are just saving in bank for some reason, and that is not because they would like to have income for saving their money as we all know the interest we are earning is very minimal, we are just saving it for security reason. For crypto, it is okay to stake but be mindful that cryptocurrencies price is very volatile, so make sure that you are ready for it.

Why can't we spend and invest on the stable coins? Whenever we gained profit, they always withdraw it again and again. But in a sense that they should also consider the safety of their money in their good hands. Furthermore, the percentage of investment/s guranteed return isn't really be calculated with the use of cryptocurrency. In this case, they can use a laptop that will be able to run their wallet even without using a Trezzor wallet and ledger nano. Another way is to buy a vault wherein you can still secure your transaction and balances.

10c

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4-6 percent per year in cryptocurrency is very small amount. I could not call it a risky investment. in this market, you can easily earn 4-6 percent per day and not per year

alexsandria

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

4% to 6% of annual interest is quite big for third world country. Usually interest in third world country offers lower than 4% depending on how big the balance of investor is. Non-investor or people who have a bit idea in investing thing would find those worthy specially those people who lives in third world country. On the other hand, persons who made investing as an activity cycle will find out those platforms not worthy at all, what matters to them is the security of the money in the end 'cause investment purposes came from the desire of harvesting the interest after the long run.

In the end, risks attached right behind of every investment but risks with those platforms weighted more than the risk of what the bank has.

3DBrushes

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Quote from: Murat on October 17, 2019, 05:43:17 AM

I think 4-6% annual interest rate is not worthy for the people whereas the conventional banking system offering you to avail more than 10% interest with a high level of security, So why people choose this platform instead of the Bank, I know a lot bank which provides more than 10% interest rate annually, but when you work with Binance or some big exchange then you will get less interest rate, I think every investment contains little bit risk factor but online platform we face a lot of risks but gained is comparatively lower than any other platform, but it also true that if you consider about the cryptocurrency price volatility then the rate of interest is not bad at all.

In my country, 4 - 6% interest is offered by a general savings banks account with less minimum balance and with a good security. 7 - 10% can easily be achieved in Bank fixed deposits or debt and liquid mutual funds. 99.99% of the time interest is guaranteed so if crypto investment offers more interest than this then it's a good idea to invest.

enhu

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There are projects that I can trust because its backed by well known individuals in crypto but its just me, since I already got some considerable amount of coins from staking my coins. DPOS coins made me earn good amount and I'm still staking still up to now. There are several projects with almost same way for building their community. Staking makes holders hold the coins they have.

Quote from: r_delossa on October 17, 2019, 06:42:57 AM

No, the interest rate is too small, if you consider the volatility of crypto currencies and possibility that we are now having a falling trend, it is not worth it at all. Firstly, if BTC drops, you would lose a lot of money by getting peanuts from the rest of your portfolio.

If you are just going to be holding anyway, why not stake them at all. It all up to the holder.

tenakha

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Actually, I never trusted them, and I do not think I will. Even in the banks, while there is a chance that I can not get money back, sending BTC to someone is too risky. I have not information about this procedure but I suppose there are collateral. Right? I would not recommend it to anyone unless there is a guarantee. That is all I think about: if it was that easy, why would everyone trade? There are even employees that work whole year for 1%.

plast555

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Staking some coins might seem profitable. But I like to stake my coins in exchange for Divided. There are a few casinos I use for that. At these casinos, you can receive a large amount of divided rewards by stacking the casino's own token. You can easily find the dividend-supported casinos on the internet, but according to my observations, highest dividend ratio belongs to Bethash atm.

r_delossa

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No, the interest rate is too small, if you consider the volatility of crypto currencies and possibility that we are now having a falling trend, it is not worth it at all. Firstly, if BTC drops, you would lose a lot of money by getting peanuts from the rest of your portfolio.

magneto

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Depends on the circumstances.

Products like BlockFi I'd be comfortable with putting a chunk of my coinage in because of the fact that they are quite established, but I do believe that you should always be prepared to hand over KYC documents before actually subscribing to these investments.

BNB and other staking coins are risk-free technically because everything is decentralised - of course, they are prone to adverse movements in token price still.

6% per annum isn't something that is unachievable, but should raise alarm bells if it's not put out by a legitimate company with a track record.

Murat

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I think 4-6% annual interest rate is not worthy for the people whereas the conventional banking system offering you to avail more than 10% interest with a high level of security, So why people choose this platform instead of the Bank, I know a lot bank which provides more than 10% interest rate annually, but when you work with Binance or some big exchange then you will get less interest rate, I think every investment contains little bit risk factor but online platform we face a lot of risks but gained is comparatively lower than any other platform, but it also true that if you consider about the cryptocurrency price volatility then the rate of interest is not bad at all.

inthelongrun

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

I know Blockfi but haven't used it. BlockFi offers fiat loans online with crypto currencies BTC, ETH, LTC and Gemini dollar. The collateral value is 50% more than the amount loaned so it is fully secured unless there are heavy dumps on BTC, ETH and LTC. This allows BlockFi capable of paying their depositors with its annual interest rates.

10% annual returns on BNB and some stable coins are still payable. In my country, most investment companies I know paid 8% to 15% annual rate of returns depending of its performance. And I believe that in many highly developed countries investment firms are performing better than mine. It also means that BlockFi and these stable coins can invest the deposits they received on other platforms even outside crypto currency markets they deemed viable.

GreatArkansas

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

(.....)
My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

4%-6% interest is good and not so "promising". So, that's why they have some feature like that. But the only risk here is the VALUE of particular cryptocurrency. Like the BTC value of it, as you can see when the Bitcoin dominance is increasing some altcoins are dumping.
So, even there are interest, but the value of it is not so profitable (it price is dumping).

efxtrader

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

If an exchanger with a good reputation holds cryptocurrency staking, I think this will be good and affect the price in the short term. Investors will think it is better to follow a staking program and earn interest while holding coins for the long term

ChrisPop

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Quote from: CjMapope on October 16, 2019, 01:06:13 PM

Oh man, theres NO way i would give them my BTC to hold for 4-6%APR, one can make more then that in traditional markets.
Hell my shit-ass BANK offers 2-3%
Ill hodl my own coins, BTC especially with the 1/2ing next year, and BNB is just a great coin
Actually Binance could hodl my bnb, i trust them with that and i dont need my bnb to be liquid, whereas my BTC i do

I agree with you here. I have made my own risk analysis and it is just not worth it. If these platforms would be trustworthy and somehow regulated so my deposit is guaranteed then yes, I would definitely consider stacking some BTC there to grow my bag. We need to keep in mind that BTC is a deflationary currency and getting even 5-10% APR could build up an account nicely over time.

Stanlo

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Coins like Callisto have good staking ability and its a trusted project but still i think its dangerous than leaving the coin sleeping in your wallets and moreover the annual return is not that great, highest you will see if 18%, its not worth it

Javi_Anibarro

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Crypto.com coin even offers you 16% Annual Interest Rate, personally I do not like this and will not stake my stablecoin or cryptocurrencies because it looks the same like we are building a bank right now. There is no reason for me to stake my money virtually if I am able to do it directly in real life, the risk is far too great doing this.
absolutely not, this is certainly not worth it.

Bitbtc8

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Sorry i don't trust coins with staking ability if the returns is over 15% annually, i have fall victim to some staking projects that brings interest monthly and today they are nowhere to be found,they stop working and exit scam, if the offer is too good then its a sign

studio1one

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BintexFutures

Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Except for binance, I don't use any other platform which allows us to stake our investment. Don't know why but I am paranoid about this kind of stuff lol.

Vitamin_52

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for me, 4-6% is a very small bet, during this time a lot can happen and you can lose from 10 to 80%. Yes, if the coin is stable, you can make a contribution.

BlackFor3st

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

I better invest it myself rather than stacking it to their platforms. It's not that I didn't trust them but it's better to be safe than sorry later. 4-6% annual interest rate is not worth the risk to take.

This kind of return of investment can be easily reach if you know how to play your investment but if you have no other option or you are still a newbie then you can try your luck to them as they are big exchanges also and they will not just fade easily especially the BNB.

josephrioveros123

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I think they use the deposited cryptocurrency in their business operations and as for gratitude that you put your currency there they give you 6-10% of the amount you lend them for them to use. But there is a risk on that investment just like in trading the value of the currency is always changing. That is the risk you can have your interest but if the value of the currency goes down you can still loose some. And other thing is when the project or the company doesn't get profit or it is bankrupt there is no insurance that you will get paid.

NathanJB

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

The risk is not worth it. I would rather HODL those coins myself rather than entrust them to some strange platforms. After all, I can also earn that very little worth of profit in my own ways in a year's time. 4-6% interest per year is so low to be honest. Even noob traders could actually earn that amount. Low interest, high risk, that is a no no for me. That is not a good formula for investors.

Kyraishi

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Surprising to see blockfi be the top of the list, I've been looking at nexo and I thought with their rates, it was certain they would be on top.

I don't personally think these staking options are really going to be attractive to a majority of altcoin traders - 5 percent a year is nothing in the crypto-currency industry, but possibly might attract mainstream attention.

tranduong123

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Many leading exchanges support staking, so finding a secure stacking platform is not a big deal. With staking interest rates of 4-6% / year as you mentioned, it is not ideal to stacking with short-term investors, because a currency can fluctuate several times that number in a day. But for those long-term investors, holders are a good opportunity as they keep their money with interest.

bgaf

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It's not bad profit I guess. Considering its much higher than bank interest. I started to stake some of my ONE token as they recently include it on Binance platform. For me, I trust this one so I just stick with it and it seems the price is increasing since some wanted to stake and earn more. Binance crypto lending is also nice, I will only use lending service of them as other platform seems pretty risky to use especially if the rates are too good to be true.

LbtalkL

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Those interest are eye catchy very attractive but in trading its possible to get that profit too but not all the time. Why not just join binance lending they have high reputation and gain some trust very decent exchange but always try in your own risk.

batang_bitcoin

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4%-6% looks legit and same as the banks but the risk can lie on the platform. There can be untrusted platforms that would offer the same interest so that it won't be suspicious which most of the new ones are offering high interest rates just to attract money on their platform.
There might be others to consider depositing altcoins that are supported by that scheme but never with bitcoin.

ChrisPop

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Quote from: TaliskerDarkStorm on October 16, 2019, 12:51:26 PM

I don't think it's about whether or not you trust these platforms. Average interest rates for cryptocurrencies range between 4% and 5% annually.

But in some countries, banks provide far more interest rates. Like third countries of world, these rates are more than 10%. Within cryptocurrencies, these rates need to come to a level to compete with banks. But I have always trusted and will continue to trust strong exchanges like Binance. But the rates are low for now I do not think to participate in lending activities.

I'd like to know in which countries banks provide higher rates than this one and on what currencies? Because a bank can offer 50% interest on a garbage fiat that has over 20-30% inflation per year or more. You see.. banks calculate these rates very carefully so their risk of failure to make a profit is minimized to almost zero.

Of course it is about how much you can trust these platforms. In the financial world it is all about risk and reward. In this case the reward is 6-10% annually and your job is to calculate the risk. The risk should be calculated in my opinion by the likelyhood of these platforms to go bankrupt or run away with the funds.

tsaroz

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Platforms like BlockFi, Nexo and Celcius accepts deposits and provides loan. Bifinex and Poloneix provides margin lending for traders which is similar to a collateral loan.
Many other exchanges just takes the money to increase the liquidity and some to lock up their coins. Binance want's to be the largest exchange and make every people put their coin on binance so they could manipulate the whole crypto market.

DeepChipolino

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I know several crypto assets that give much more than 5-10% per annum. And it’s not so important what they do (we still don’t find out the truth), it is important how long these assets will live with such payments.
And what is 5% per annum for any asset that can change daily even by a more %?

I used to be interested in passive income from crypto assets. Now I am looking for cryptocurrencies that will survive and retain their power until the next crypto boom.

CjMapope

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Oh man, theres NO way i would give them my BTC to hold for 4-6%APR, one can make more then that in traditional markets.
Hell my shit-ass BANK offers 2-3%
Ill hodl my own coins, BTC especially with the 1/2ing next year, and BNB is just a great coin
Actually Binance could hodl my bnb, i trust them with that and i dont need my bnb to be liquid, whereas my BTC i do

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Quote from: ChrisPop on October 16, 2019, 12:45:24 PM

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

These kind of returns can be achieved with safest investments but we are taking huge risk for that ROI is not worth it,so I don't suggest anyone to go for this schemes even if it is legit.

bigcash2011

sr. member

Activity: 1442

Merit: 265

Every investment is risky especially online investments are regarded as highly risky investments, i think solid exchanges and wallets that are providing this service are good to go but to be honest 4 to 6% for a year is just not attractive in crypto world where you can do it in a short term trade.

TaliskerDarkStorm

sr. member

Activity: 1106

Merit: 273

I don't think it's about whether or not you trust these platforms. Average interest rates for cryptocurrencies range between 4% and 5% annually.

But in some countries, banks provide far more interest rates. Like third countries of world, these rates are more than 10%. Within cryptocurrencies, these rates need to come to a level to compete with banks. But I have always trusted and will continue to trust strong exchanges like Binance. But the rates are low for now I do not think to participate in lending activities.

ChrisPop

legendary

Activity: 2310

Merit: 1035

Not your Keys, Not your Bitcoins

Coinmarketcap has recently published a page where they track the interest rates from various cryptocurrencies on different platforms. The highest Bitcoin APR is now 6.20% at BlockFi. Looks like BNB and stable coins have even 10% APRs. I wonder what are these platforms doing with your crypto to offer such high interest rates..

My question to the community is how much you trust these platforms to hold your crypto safe and don't scam away? Is the 4-6% annual interest rate worth the risk for you?

Topic: Stacking cryptocurrencies with Interest (Read 463 times)