The idea to stake your stablecoins comes from not trusting crypto and that is the hardest part for me. I do not believe that stablecoins would stay as valuable as the staking rewards I would be getting, the "number" that I own would change, but the purchasing power would stay the same in a long period of time.
If I invest 100 dollars right now, and get back 108 dollars next year, that 108 dollars would buy the same thing that 100 dollars bought last year, maybe not even that much if inflation is high. Whereas, if I put it on crypto, there is a chance it could go down a bit, but there is a chance it could 2x as well and could actually make me a profit instead.
Topic: Where to stake stablecoins with insurance? (Read 355 times)
Generally, you can store and trade stablecoins that are used to trade on decentralized exchanges (DEXs). DEXs are run entirely by code, which means they don't require intermediaries like banks or brokers to facilitate trading. The point is to find a safe trading platform, security support such as 2FA verification, or KYC is needed.
The most important thing is the security of storing tokens in DEX or wallets depending on how we use them. If you store it in a wallet in your own wallet and connect to an unknown site and connect to the internet, then the device itself is vulnerable to hacking.
The most important thing is the security of storing tokens in DEX or wallets depending on how we use them. If you store it in a wallet in your own wallet and connect to an unknown site and connect to the internet, then the device itself is vulnerable to hacking.
The obvious answer to everyone would always be Binance. But I can suggest a new exchange platform for you, called FMCPAY. You can DYOR and choose to stake your coin here: https://fmcpay.com/stakings
We also have a running Staking Event to raise the amount in your Staking wallet, feel free to join us.
We also have a running Staking Event to raise the amount in your Staking wallet, feel free to join us.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
I find such interest rates reasonable in this bear market. Binance no longer offers high APY but is still the safest among staking platforms today, I accept low interest rates but safer than high interest rates that make you unable to sleep well every night. If you want high returns I recommend investing instead of stake.
Back in 2021 you could of actually made some APY by selling the futures and buying Bitcoin or Ethereum on spot.
Back then the front month had like a 5% premium and quarterly had like 15%. So what many did was buy on spot and send it to a futures exchange and short it there. Wait until it expires and close the trade. Pretty risk free.
Doesn’t work anymore since funding rates are flat now.
Back then the front month had like a 5% premium and quarterly had like 15%. So what many did was buy on spot and send it to a futures exchange and short it there. Wait until it expires and close the trade. Pretty risk free.
Doesn’t work anymore since funding rates are flat now.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
I find such interest rates reasonable in this bear market. Binance no longer offers high APY but is still the safest among staking platforms today, I accept low interest rates but safer than high interest rates that make you unable to sleep well every night. If you want high returns I recommend investing instead of stake.
if op want to stake average of $2k then Binance enough for him to stake USDT & USDT combination . but if op want to stake huge amount then Binance not enough . When Binance gave 10% interest for staking I tried to stake a big amount of stablecoin ,coz then our central bank offered 5.5% interest . But I couldn't stake more then $4k then. but now our central bank increased there interest to 7.5% so i have deposit my money on our central bank now. i think it is safe then crypto
Binance usually have limited amount for staking with stable coins and earn different reward APY if stake above amount maximum, I think with 10% APY interest very excited to stake there with Binance have guarantee more secure exchange market. Maybe have to spent amount two kinds between BUSD and USDT if want staking above minimum limited amount by Binance. Better with staking at BUSD than bank because every day USDT have increase values and local money seems have inflation day by day.
They are many places to stake your stablecoin, but I prefer Binance and Kucoin exchange, because they are more reliable than Dex exchange, while waiting for the complete period of your staking to complete and is already credited on your spot account.
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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).
And what kind of insurance Binance have? Sorry but didn't read about it.
All I know is "Not your keys is not your funds". This is related to all CEX exchanges, not just Binance.
My priority for staking is of course I don't stake all my Binance assets here. Each platform has its own risks. Binance is a bit more attractive to me than dex and cex. There are also Dex exchanges that I stake, I usually do not make long-term commitments. I only made a 1 year commitment on one dex exchange, it will be released in april, I am not sure if I will do it again.
He will able to stake only 1000 USDT and 1000 BUSD which is much less amount . yes , he can stake safely his USDT on Binance and he can redeem his usdt any time instantly from Binance if he want. and binance will give him profit every day according his amount & Staking percentage . it is really a good feature .
I will also recommend Binance too, they have a good track record and investors' funds are SAFU unlike other staking platforms with no track record, risky and a high possibility of scamming investors.
Binance has different options to stake and earn, depending on the amount the person is willing to risk. Although Stablecoins staking will not yield more profit unlike none stablecoins staking but with the market situation where the majority of coins are down more than -50% it is better to stake stablecoins till the market recovers.
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Yes quite some time ago its limit was $2000 USDT and $2000 BUSD and interest was 10% APR but recently binance has reduced it to $1000 and interest is only 8% so if one is intending to stake more, then binance Won't work much for him.
But at least he can feel safe risking his USDT on Binance. Moreover, Binance is one of the big exchanges and already has a reputation among other exchanges. And with that result, he would benefit even if there was a reduction to the limit. If I were him, I would choose Binance to stake my USDT because it is a good passive income to try. But that's just a suggestion and he has to figure out what's good for him.
He will able to stake only 1000 USDT and 1000 BUSD which is much less amount . yes , he can stake safely his USDT on Binance and he can redeem his usdt any time instantly from Binance if he want. and binance will give him profit every day according his amount & Staking percentage . it is really a good feature .
I will also recommend Binance too, they have a good track record and investors' funds are SAFU unlike other staking platforms with no track record, risky and a high possibility of scamming investors.
Binance has different options to stake and earn, depending on the amount the person is willing to risk. Although Stablecoins staking will not yield more profit unlike none stablecoins staking but with the market situation where the majority of coins are down more than -50% it is better to stake stablecoins till the market recovers.
Yes quite some time ago its limit was $2000 USDT and $2000 BUSD and interest was 10% APR but recently binance has reduced it to $1000 and interest is only 8% so if one is intending to stake more, then binance Won't work much for him.
But at least he can feel safe risking his USDT on Binance. Moreover, Binance is one of the big exchanges and already has a reputation among other exchanges. And with that result, he would benefit even if there was a reduction to the limit. If I were him, I would choose Binance to stake my USDT because it is a good passive income to try. But that's just a suggestion and he has to figure out what's good for him.hero member
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Yes quite some time ago its limit was $2000 USDT and $2000 BUSD and interest was 10% APR but recently binance has reduced it to $1000 and interest is only 8% so if one is intending to stake more, then binance Won't work much for him.
But at least he can feel safe risking his USDT on Binance. Moreover, Binance is one of the big exchanges and already has a reputation among other exchanges. And with that result, he would benefit even if there was a reduction to the limit. If I were him, I would choose Binance to stake my USDT because it is a good passive income to try. But that's just a suggestion and he has to figure out what's good for him.Binance will be a top choice because of its promising features. As for me, it's the safest exchange to stake stable coins. It's reputable and trusted by lots of users for a long time already so no wonder why lots of users are suggesting it. I've tried staking USDT in Binance as well and I didn't encounter any problems but you can do continuous research so you'll find an exchange that will fit the criteria that you have.
Yes quite some time ago its limit was $2000 USDT and $2000 BUSD and interest was 10% APR but recently binance has reduced it to $1000 and interest is only 8% so if one is intending to stake more, then binance Won't work much for him.
But at least he can feel safe risking his USDT on Binance. Moreover, Binance is one of the big exchanges and already has a reputation among other exchanges. And with that result, he would benefit even if there was a reduction to the limit. If I were him, I would choose Binance to stake my USDT because it is a good passive income to try. But that's just a suggestion and he has to figure out what's good for him.Binance will be a top choice because of its promising features. As for me, it's the safest exchange to stake stable coins. It's reputable and trusted by lots of users for a long time already so no wonder why lots of users are suggesting it. I've tried staking USDT in Binance as well and I didn't encounter any problems but you can do continuous research so you'll find an exchange that will fit the criteria that you have.
Binance. It is by far the best exchange, and maybe the staking returns are not as high as some other places, but it is guaranteed.
Anyone who tells you another place will give you a name of a place that is not as trustworthy as binance, and that means we are not going to see anything change in that situation and putting money where it is riskier, even if it's little bit more, there is no need. Put it on binance and don't look back, if you can compound that is better because if you do that, over course of long years, you are going to earn more than inflation and that means you are going to get richer and richer, do that long enough and you will be rich.
Anyone who tells you another place will give you a name of a place that is not as trustworthy as binance, and that means we are not going to see anything change in that situation and putting money where it is riskier, even if it's little bit more, there is no need. Put it on binance and don't look back, if you can compound that is better because if you do that, over course of long years, you are going to earn more than inflation and that means you are going to get richer and richer, do that long enough and you will be rich.
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Yes quite some time ago its limit was $2000 USDT and $2000 BUSD and interest was 10% APR but recently binance has reduced it to $1000 and interest is only 8% so if one is intending to stake more, then binance Won't work much for him.
But at least he can feel safe risking his USDT on Binance. Moreover, Binance is one of the big exchanges and already has a reputation among other exchanges. And with that result, he would benefit even if there was a reduction to the limit. If I were him, I would choose Binance to stake my USDT because it is a good passive income to try. But that's just a suggestion and he has to figure out what's good for him. 
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Binance Exchange is the safest and most convenient place to stake Stable coin.You are on Binance Exchange You can keep staking stable coins with security. There you can earn profit.You will have no risk and you can keep it completely safe.Any suggestion for insurance against smart contract failure, hack, etc...?
There are so many scammers that a bit innovative by creating fake site. this is the difficult thing that can be avoided.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
There might be no direct insurance to protect your stablecoins while staking, I believe some exchanges have their own insurance to protect their exchange and with this, Binance is your best option. I think many also suggest Binance here and that’s the proof that they are secured and prepared enough to cover the possibles losses if hack happened on their platform, I can’t suggest any aside from this. Any suggestion for insurance against smart contract failure, hack, etc...?
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.
This is mostly the reason why a lot of investors who doesn't have enough knowledge tend to lose so much by investing to a wrong coin. Staking stablecoin sounds like a good coin to invest but with insurance seems like a perfect coin to me that you are just basically putting them on the exchange to gain profit. But you can't just asked for a stablecoin with insurance since staking is probably has some pros and cons which is not making your coin to get insured if there's something bad going to happen in the exchange.
There’s a plethora of opportunities to earn on crypto
One notable method is through staking!
This simply implies locking your crypto funds in a project’s smartcontracts… and you get some rewards in return.
There’s an aggregator I use, AnalytEx; they aggregate multiple staking options for new and existing investors to increase income, boost portfolio and make money work for them
You Check out AnalytEx today
One notable method is through staking!
This simply implies locking your crypto funds in a project’s smartcontracts… and you get some rewards in return.
There’s an aggregator I use, AnalytEx; they aggregate multiple staking options for new and existing investors to increase income, boost portfolio and make money work for them
You Check out AnalytEx today
I never ever heard any platforms that offered insurance. Maybe you are feeling worry with the hacked cases that happened with most of crypto related platforms. I can say there would be no safe place even your wallet was not safest place as well.
Staking in centralized exchange site. i saw some exchange sites got hacked but they were using insurance to handle it. I meant you shall check the problem that happened with kucoin.
I only heard one so far and that was binance exchange but im not only sure if what are their terms about this if staking of stable coins are also covered in this insurance feature. OP can just visit them and read more about their rules. OP won't ask this kind of question if he isn't worried about his coins but who wouldn't be?Staking in centralized exchange site. i saw some exchange sites got hacked but they were using insurance to handle it. I meant you shall check the problem that happened with kucoin.
Staking is the act of putting a coin in one platform for a longer time so this needs more attention in terms of security because we won't know if the site turns out bad later on or if they will be hacked. Cex are prone to hacks but imo they are better than the defi's and other smart contract based projects. There were less glitches, bugs and exploits on them.
The safest place to invest stable coins is decentralized exchanges, but the return is not very high. As for the best place to invest, I expect it is Binance, but it is not the safest because it is a central exchange and has been hacked more than once, on the other hand, stable coins do not give much returns because their profits are low but they Safer than other volatile cryptocurrencies.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Binance Exchange is the safest and most convenient place to stake Stable coin.You are on Binance Exchange You can keep staking stable coins with security. There you can earn profit.You will have no risk and you can keep it completely safe.Any suggestion for insurance against smart contract failure, hack, etc...?
Binance is indeed one of the most reliable platforms not only for trading, but also for staking. According to Binance Earn, the current yield for staking stablecoins is 5% per annum, and for altcoins up to 70%. But you need to be prepared for the fact that the price of the altcoin, which is placed on the stak, may decrease and, accordingly, the resulting profit may not compensate for the loss.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Binance Exchange is the safest and most convenient place to stake Stable coin.You are on Binance Exchange You can keep staking stable coins with security. There you can earn profit.You will have no risk and you can keep it completely safe. Any suggestion for insurance against smart contract failure, hack, etc...?
What is the safest place to stake stablecoins with nice yield? ..
High profitability and safest cannot be used together not only in cryptocurrency, but also in the real sector of economics. And if you see a high percentage of profitability, then you should conduct a more thorough study, since it is quite possible that this is a classic ponzi scheme. Accordingly, where your funds will be safe, a high APR will not be offered.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
I never heard about that, but I heard out there third-party insurance that offers insurance for your asset in Coin base and Gemini Exchange. And, I heard also, One of the leading crypto insurance companies is Lloyd through its broker Superscript provides protection against crypto. I never tried and never read anyone mentioned on this forum, better before you try it, please research it and ask the support.Any suggestion for insurance against smart contract failure, hack, etc...?
https://www.coindesk.com/business/2022/05/11/lloyds-licensed-broker-launches-crypto-insurance-product/
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
No guaranteed everywhere, but I like how Binance program on staking whereas they have savings mode which can be get anytime even you staked and a locked one for higher apr. But not really that big actually but certainly good compared to banks.Any suggestion for insurance against smart contract failure, hack, etc...?
But be careful on high apr, I was once regret the one I did with ust on binance and end up losing o their 30% apr on stablecoin.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Different platform can offer you different APR bonus for stake stablecoin . But choosing a safe place is the real work. i can suggest you Binance exchange for stake stablecoin . Although Binance offers relatively low bonuses. Still I think it's a safe place . you can get 8% APR for USDT & BUSD from Binance savings Any suggestion for insurance against smart contract failure, hack, etc...?
To everyone else who suggest Binance, it's partly correct since Binance have SAFU, but we don't know how much their reserved funds or how much they willing to recover their customer funds. IMO if you want to get 100% insurance about your money, it's better if you choose fiat and invest on bonds, time deposit etc.
As everyone know there's many cases DEFI always get hacked everytime, but the true DEX until now still not getting hacked e.g. BISQ. The swap platform e.g. Uniswap, Pancakeswap, etc isn't a DEX, that's why it's get hacked too.
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.
Misconception, DEX and DEFI are completely different, don't mix it.As everyone know there's many cases DEFI always get hacked everytime, but the true DEX until now still not getting hacked e.g. BISQ. The swap platform e.g. Uniswap, Pancakeswap, etc isn't a DEX, that's why it's get hacked too.
just use the platforms made by the famous exchanges like binance, kucoin, etc. I think they have significantly less chance of scamming you than the other if compared moreover they usually is better in terms of making sure that you wouldn't lose your money, I don't think there's any platform that's more worth than using the platform made by binance, they always have good quality platform for investments generally.
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...?
The safest place for stablecoin staking and good profitability through stablecoin staking are 2 different services. Don't try to find it all in one service, where everything will be better than others. They do not exist. If it's reliable and stable stablecoins staking pools you're looking for, then you need to go to Curve. They don't have the highest interest rates, but at least their pools specialize in stablecoins and there's always good liquidity. They had some security problems this year, but it wasn't about the pools themselves and the vulnerabilities in the smart contract.
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.
Both are the same, neither is more secure than the other. Centralized exchanges can also be hacked or worse, crash like Mt.gox and we still lose money. Once you have accepted to participate in cryptocurrency, you should think about the risks we face, there is no concept of absolute safety in cryptocurrency. But speaking of staking, binance is definitely the place we can trust the most, as it is the largest exchange today. We may feel safer placing our assets on it, compared to other less popular platforms.
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I never ever heard any platforms that offered insurance. Maybe you are feeling worry with the hacked cases that happened with most of crypto related platforms. I can say there would be no safe place even your wallet was not safest place as well.
Staking in centralized exchange site. i saw some exchange sites got hacked but they were using insurance to handle it. I meant you shall check the problem that happened with kucoin.
Staking in centralized exchange site. i saw some exchange sites got hacked but they were using insurance to handle it. I meant you shall check the problem that happened with kucoin.
What is the safest place to stake stablecoins with nice yield?
Any suggestion for insurance against smart contract failure, hack, etc...?
Binance is the best option for this, you can also get some once you stake with their stablecoin.Any suggestion for insurance against smart contract failure, hack, etc...?
SAFU seems to be the best asset for Binance which is being trust by big investors as well, if you don’t want stress with your staking always go for the best and with this, Binance is ahead of many exchanges with staking.
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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