Topic: Where to stake stablecoins with insurance? - page 3. (Read 355 times)
Go to the cex if you wanna get the safest place to stake your stable token. I don't think dex can be the safe place for your money. Im thinking the same about defi caused by there are so many hack happened with defi. Defi has so many vulnerabilities unlike cex is very well maintained at this moment. You must go cex and stake your stable token for small interest that will give you small amounts of money.
For security, I think Binance and Kucoin are the best, but for the insurance itself, I honestly just found out and heard about it, because so far I have been doing stake stablecoin, there is no insurance guarantee.
I will continue to listen next time, there is one friend who recommends the platform
I will continue to listen next time, there is one friend who recommends the platform
just stake in binance I guess, they are known for their stake platforms that is really good both in services and in guaranteeing that their users staked coin wouldn't just vanish into thin air, moreover they are too big to just scam you so I guess binance so far is really good platform, moreover they have various platforms that you could try. therefore if it's famous platform like binance it's just more guaranteed that your staking will become success.
Staking, in general, doesn't come with insurance or assurance of safety. It's something every staker knows or should know. A few weeks ago I tasted that bitter taste of unmitigated risk as the site on which I staked three of my tokens closed down and went off the radar. It was then that I understood the extent of the risk involved in staking as some members have persistently warned against getting involved in it. I've read some people throwing up Binance as a safest place to stake. They should remember that no matter how safe they think Binance is that it is a centralized exchange. Not your keys, not your cryptos.
Most exchanges won't offer you any insurance upon depositing and staking stable coins on them. What they will tell you is that they're guaranteed to be secured as the others.
But you know that it's just a lie, Binance has handled well the hacking incidents that has affected the funds of their customers through what CZ always used to say about safu.
8% is currently the rate APY of stable coins there with a max of $2000 deposit.
But you know that it's just a lie, Binance has handled well the hacking incidents that has affected the funds of their customers through what CZ always used to say about safu.
8% is currently the rate APY of stable coins there with a max of $2000 deposit.
You are asking a bit high here and I can say that nothing is absolutely safe in this world, everything is risky and there is always risk in investment. Unlike traditional banks, there is no insurance available for cryptocurrencies because we are our own bank. For staking, binance is probably the platform that many people will trust the most, it is also not completely safe but can be called the most reliable platform in the market. There are many platforms to stake but stay away from platforms with high APY promise and stake on really reputable platforms like Binance or kucoin.
If you are looking for a website that has a nice yeilds and has an insurance which means risk free, I doubt that you are ever going to find one because most of the staking protocols are ponzi schemes they dont generate profit to sustain those juicy APY's they rely on other people money to keep the system going.
Binance could be insurance exchange for staking stable coins, most recommended to stake with BUSD coins and not try with another chain because bad reputation from Luna stable coin have give negative impact for other stable coin chains. All insurance depending with your self when saving all data from email, password until 2fa. Need to back up on other phone with your important data because if your main phone get trouble or stolen have alternative phone for recovery your account. Not really recommended stake on dapp exchange because risk with your wallet get exploit.
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What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
It may not be the safest place to stake stablecoins but Binance is already a great place to do so. However, there is no place that can be the safest place to bet stablecoins or other coins because they have their own risks. Many people have used Binance as a place to bet a lot of coins and maybe they are satisfied with the results. So you can try staking stablecoins on Binance too. Any suggestion for insurance against smart contract failure, hack, etc...?
I don' think there is any type of real insurance that will help you. The biggest risk is keeping it on an online exchange which is prone to hacks and you might get all your crypto stolen.
Honestly now you are better off just keeping it in a savings account since the yields is higher than it is on a stablecoin right now. Those 10-20% APY lenders all went broke and many ended up losing all their savings. I don't recommend investing just for the yield. The reward is just not worth it.
Honestly now you are better off just keeping it in a savings account since the yields is higher than it is on a stablecoin right now. Those 10-20% APY lenders all went broke and many ended up losing all their savings. I don't recommend investing just for the yield. The reward is just not worth it.
I definitely recommend major exchange platforms. Low income, but guaranteed. Binance kucoin etc. I recommend using exchange platforms such as Because on dex and more profitable platforms, staking is a risky operation and there is no guarantee that they will not escape.
There's no insurance for staking stable token. This is crypto and you can't think if crypto just like a bank that will give you more guarantee for your money. The risk will always there. That depends on you whether you have agreed with such condition or not. I meant you must also aware that if these days anything can happen with the platforms just like when it has been hacked by hackers. So, you must think for twice before try to stake your money.
There are too many people who are looking into something that would be secure and trustworthy and they could still make some money. Unfortunately that doesn't exist, and they will be losing all of their money if they are not careful enough.This isn't something that could happen too rarely neither, they could lose their money all the time, at every corner of crypto there are people who are looking to make you lose money, and if you are not careful then you will be trusting them as secure place to invest and stake stablecoins, and you will never be able to withdraw it back. So only do it in places like Binance or similar, just to make sure it’s a place that doesn't need to scam you to be rich.
There’s no Decentralized Finance that offers insurance but it’s the safest way to stake since you have your own keys to your wallet. You can only find insurance feature on CEX like Binance and Kucoin but there’s a downside that you don’t have your private key. There insurance too is useless if the company loss is due to bankruptcy and not through hack. There’s is no 100% safe in crypto or even on real life banking yield offers.
I highly recommend DeFi like Beefy instead of CEX because they offer a higher APY while it’s decentralized. You can have a assurance that you will still get back your tokens anytime.
I highly recommend DeFi like Beefy instead of CEX because they offer a higher APY while it’s decentralized. You can have a assurance that you will still get back your tokens anytime.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
There is no safest place to stake stablecoins, and it can pay good returns but as far as I know, Binance is a good place, and you can get pretty good returns, especially if you stake a lot of stablecoins there. At least I tried it myself, but I don't stake too many stablecoins, but I use BNB as the main coin to stake.Any suggestion for insurance against smart contract failure, hack, etc...?
Also, staking stablecoins on Binance can be a way to increase your number of stablecoins, even if you have to wait a certain amount of time. But before you start, it's better to read the articles on Binance to know more about what to do.
There's no insurance for staking stable token. This is crypto and you can't think if crypto just like a bank that will give you more guarantee for your money. The risk will always there. That depends on you whether you have agreed with such condition or not. I meant you must also aware that if these days anything can happen with the platforms just like when it has been hacked by hackers. So, you must think for twice before try to stake your money.
@OP any decentralized solution wont give you any insurance. Even the best smart contracts can be hacked (for instance most recent 600 mln BNB bridge hack). Centralized solution is not safe too because "not your keys not your coins" and in worse case scenario - if users money are worth more than their reputation, in their opinion ... they will most likely take your money.
Binance is the best place I think. Just wanted to add that not everything available on binance is "SAFU". Binance has various staking products and part of them are provided by other companies. Its always worth to read TOS before trying anything.
As I can see they splited binance earn to 2 sections:
"Principal Protected
The same number of tokens deposited to Savings and Staking will be returned to you along with yields paid out in the same type of token. See our Terms & Conditions and FAQs for more details."
"(High Yield) Higher Potential Rewards
An opportunity to receive higher than average gains but with corresponding risks to your invested cryptocurrencies. Only invest what you can afford to risk, regardless of how high the potential rates of return."
So far "Binance" with SAFU.
Binance is the best place I think. Just wanted to add that not everything available on binance is "SAFU". Binance has various staking products and part of them are provided by other companies. Its always worth to read TOS before trying anything.
As I can see they splited binance earn to 2 sections:
"Principal Protected
The same number of tokens deposited to Savings and Staking will be returned to you along with yields paid out in the same type of token. See our Terms & Conditions and FAQs for more details."
"(High Yield) Higher Potential Rewards
An opportunity to receive higher than average gains but with corresponding risks to your invested cryptocurrencies. Only invest what you can afford to risk, regardless of how high the potential rates of return."
-snip-
So far "Binance" with SAFU.I don't see other service have an insurance for customer, it's all depends on the loss asset during the attacking. Most of service could be terminated due losing to much asset and company can't covered the loss.
1-5% loss could be still can be handle, but more than 10% could be make the company have problem (It's based speculation).
It must be centralized exchange site. Remember that if you wanna dealing the dex and you must know the risk. The risk can't be avoided but at least the exchange site like binance has a good protection for your money rather than try to stake on the decentralized exchange site. The problem is once your key will be compromise and then your money can be stolen by the scammers or hacker. Cex is much more relevant for me
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Any suggestion for insurance against smart contract failure, hack, etc...?
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