Topic: Would you stake stablecoins now? - page 2. (Read 1125 times)
I have no interest in staking the stable coins I have. because when the value of the currency that is used as a stablecoin (Dollar) it turns out to have decreased in value. would be very bad. but if you look at the risk taken, it is safer if the coin at stake is a stablecoin. but I don't think it will give much benefit if we only bet a small amount. and if want to keep staking stablecoins then someone tell me it is better to use flexible staking. so we can still pull it if a time is needed. or if there is bad news like what happened to UST.
The point is that staking is more profitable than we save money in banks that do not get anything, in my country keep money that is less than $ 100k, so only get 4%bank interest, if deducted, admin and so on may only be 3%, in contrast to free staking any cost so it is more profitable
If you get more from staking than keeping money in bank is not worth it. Because it is in your complete own control. You can convert it to fiat at any time by taking the necessary steps. There is no alternative to stablecoins to protect against volatility. Staking on various platforms has the advantage of holding these stablecoins. But staking should not be done on any risky platform to get more.Buying potential coins would be a smarter and more profitable move than staking stablecoins. Staking stable coins will take too much time but will only provide a small profit which is not worth our effort. If you want to maximize your gains, better risk your funds in coins that could reach a good price in the future. If you're a risk taker, better choose the risk that you would take where you could gain higher.
It will be decided on what kind of investor you are, if you can handle the risk I will go with your opinion but we all know that there are also conventional investors who are okay with small profits but in a much safer style compared with the high profit potential but the risk is huge in losing your investment. It's a case to case and always depends on the understanding and the takes of the investors style.
Though there's no right or wrong if you deal with your DYOR properly and you judge things according to your own understanding.
The point is that staking is more profitable than we save money in banks that do not get anything, in my country keep money that is less than $ 100k, so only get 4%bank interest, if deducted, admin and so on may only be 3%, in contrast to free staking any cost so it is more profitable
The government was giving you guarantee if there would be something happened with your money unlike when you are staking in the crypto where government gives no gaurantee caused by it's not affiliate with the organization that owned by the regulators. You can get more but remember the risk is also high compared when you are taking the interest from the bank which gives more comfortable caused by regulation. Even the bank's investment programs do not offer a guarantee for your funds, with most of them offering petty APYs compared to cryptocurrencies and DeFi. Only deposits are protected, which won't yield more than a few euros per year. The most I've received is 2 euros every 3 months, having the triple money compared to Binance's savings option.
There are no guarantees when it comes to investing. That's the only way to battle rising inflation. If your money is sitting in the bank, it's losing value every year.
The point is that staking is more profitable than we save money in banks that do not get anything, in my country keep money that is less than $ 100k, so only get 4%bank interest, if deducted, admin and so on may only be 3%, in contrast to free staking any cost so it is more profitable
If you get more from staking than keeping money in bank is not worthy. Because it is in your complete own control. You can convert it to fiat at any time by taking necessary steps. There is no alternative to stable coins to protect against volatility. Staking on various platforms has the advantage of holding these stable coins. But staking should not be done on any risky platform to get more. I think staking stable coins is just a waste of time because the APY is only a few percent, and what I've seen is Binance can reach 5%,
I think it's better to just buy altcoins and hold for the long term, because altcoins can provide higher profits than staking stable coin.
It's not waste of you if you aware about how to play it. I meant you must also aware about this the fact that if you wanna get huge return from staking and then you must provide more capital. How much return will depend on your capital. If you are having huge capital and then %5 will give you lots of money. If you are using only a few bucks and don't expect to get a big return. This is easy to calculateI think it's better to just buy altcoins and hold for the long term, because altcoins can provide higher profits than staking stable coin.
Also, you need to know where you are staking huge amounts of stable coins. There is a risk involved in staking coins on centralized platforms.
This is not so simple as let's suppose you stake a lot of stable coins on an exchange and later that exchange scams or you are unable to withdraw. Do full preparation for all scenarios before you decide to stake many coins.
I think staking stable coins is just a waste of time because the APY is only a few percent, and what I've seen is Binance can reach 5%,
I think it's better to just buy altcoins and hold for the long term, because altcoins can provide higher profits than staking stable coin.
It's not waste of you if you aware about how to play it. I meant you must also aware about this the fact that if you wanna get huge return from staking and then you must provide more capital. How much return will depend on your capital. If you are having huge capital and then %5 will give you lots of money. If you are using only a few bucks and don't expect to get a big return. This is easy to calculate I think it's better to just buy altcoins and hold for the long term, because altcoins can provide higher profits than staking stable coin.
Stable coins are the safest for staking, you don't have any reason to be scared of volatility like BTC and others but make sure you pick the safest stable coins too, you don't want something like Luna uST to happy to you so go for something like BUSD , in fact I believe BUSD is safer than the other.
Holding and staking stable coins carries risks always remember these two pegs pose risks stable coins may lose their peg reducing their value the second danger is related to the investment platform we may have 10.000 on a platform that's hacked or goes bankrupt since the funds aren't insured we may lose everything before investing in any crypto exchange mentioned in this essay conduct your own homework do not use Celsius as of today stable coins are safer than other cryptocurrencies but their safety depends on how they're backed the issuer and future legislation The safest option should be chosen I didn't feel confident staking stable coins.
You don't actually "stake" those stable coins. All most all stable coins can't be staked. What you do is actually lend your coins to the exchange and they use your coins different purposes and share a percentage with you.
The UST "stable" coin wasn't backed by any real world assets like USDT is backed. It was an algorithmic stable coin and there were people already claiming that UST is going to fail soon and that is exactly what has happened. You shouldn't be worried about USDT or USDC failing because they all are backed by real money and treasuries and is regulatory complaint. You should be more worried about leaving your coins in an exchange.
The UST "stable" coin wasn't backed by any real world assets like USDT is backed. It was an algorithmic stable coin and there were people already claiming that UST is going to fail soon and that is exactly what has happened. You shouldn't be worried about USDT or USDC failing because they all are backed by real money and treasuries and is regulatory complaint. You should be more worried about leaving your coins in an exchange.
When staking stable coins you must keep in mind your money isn't really growing, because your purchasing power is decreasing due to inflation much more than the APY they are paying you. Let's say you earn 10% yearly on your stable coins through Binance or any other platform, while the prices of the products at the supermarket are increasing much more than 10% on that same time period. In the end it doesn't worth to expect return over your stable coins. Better to invest in bitcoin and main altcoins expecting some nice returns in few years, while also earning interest over them if you wish.
Staking stablecoins, for now, is an excellent idea. However, due to the large dump that happened since the ATH, I would recommend to DCA for the potential of several X of return while also earning from staking. One that I would like to recommend $Rose token which is the token that the Oasis Protocol Network uses. They offer up to 20% APR and your chance for several X of return is huge provided that they are the leading privacy-enabled and scalable layer-1 blockchain network to propel Web3 forward. Have a great day OP!
I think staking stable coins is just a waste of time because the APY is only a few percent, and what I've seen is Binance can reach 5%,
I think it's better to just buy altcoins and hold for the long term, because altcoins can provide higher profits than staking stable coin.
I think it's better to just buy altcoins and hold for the long term, because altcoins can provide higher profits than staking stable coin.
I've been staking my altcoins on Binance for a very long time and I would say that they offer a good percent of interest depending on the altcoin that you want to stake and hold it on them for a long period of time. Just don't trust some of the staking program that offer HYIP investment and too good to be true and surely it will be a scam after the accumulated a lot of altcoins.
Staking with the wrong choice of HYIP are mostly scams and will take away all your stable coins. Many people have been victims of these manipulation and they have realized their mistakes while the new ones who are eager to make quick good returns on there coins ends up been scammed. Staking with the right choice brings profits but not that big, although it depends on the coin one is staking on. Binance is top exchange when it comes to trading and storing coins for long-term purpose. 
Now the APR rate of stablecoins has reduced further . a month ago i seen Binance offer 10% interest for USDT & BUSD. but now thay reduced for 2% and make 8% APR. if we compare with our central bank interest then stable coin interest rate still good. coz our central bank offer us 5-6% of interest with huge terms & condition and Government vat .
Ouch, that was a big cut there but I wonder what is the reason for that deduction? I think with the past bad experience of some stable coins, they should increase their rates, that is for the people to get attracted again because many of them are like the OP now who are now skeptical about investing or staking their stablecoins online but anyways you're right that it is still better than the rates which banks are always offering and other than that, banks are also much riskier to the fact that they can freeze, restrict and use your funds without your consent. Situations between stable coins and staking platforms are seem to be stable now. The OP can get back on action again.i think you may have chosen a safe stable coin like USDT which has been recognized for a long time.
but at least do some research before staking on stable coins to avoid this ever happening.
and even now i also stakin stable coins on binance which i believe is safer without a doubt
I've been staking my altcoins on Binance for a very long time and I would say that they offer a good percent of interest depending on the altcoin that you want to stake and hold it on them for a long period of time. Just don't trust some of the staking program that offer HYIP investment and too good to be true and surely it will be a scam after the accumulated a lot of altcoins.
Now the APR rate of stablecoins has reduced further . a month ago i seen Binance offer 10% interest for USDT & BUSD. but now thay reduced for 2% and make 8% APR. if we compare with our central bank interest then stable coin interest rate still good. coz our central bank offer us 5-6% of interest with huge terms & condition and Government vat .
Ouch, that was a big cut there but I wonder what is the reason for that deduction? I think with the past bad experience of some stable coins, they should increase their rates, that is for the people to get attracted again because many of them are like the OP now who are now skeptical about investing or staking their stablecoins online but anyways you're right that it is still better than the rates which banks are always offering and other than that, banks are also much riskier to the fact that they can freeze, restrict and use your funds without your consent. Situations between stable coins and staking platforms are seem to be stable now. The OP can get back on action again.i think you may have chosen a safe stable coin like USDT which has been recognized for a long time.
but at least do some research before staking on stable coins to avoid this ever happening.
and even now i also stakin stable coins on binance which i believe is safer without a doubt
Staking on stable coins is indeed safe, but we also have to choose the platform, of course one of the best platforms right now is Binance,
because there stable coins have high APY like BUSD has almost 5% APY, of course I think it's a good choice if want to stake on Binance.
because there stable coins have high APY like BUSD has almost 5% APY, of course I think it's a good choice if want to stake on Binance.
It's your personal choice as i feel that staking rewards are very low as compared to active trades rewards.
If i had a lot of stablecoins, i would rather try to trade them with altcoins and gain nice profits. I would not stake them to earn some very low passive income.
Some stablecoin vaults are riskier than others, providing you with a higher APY than the BUSD/USDC/USDT ones, which look like the middle ground for investments. In the upcoming days, I'll distribute 30–50% of my funds on the following smart contract: https://app.beefy.com/vault/ellipsis-busd-jchf.
Staking on stable coins is indeed safe, but we also have to choose the platform, of course one of the best platforms right now is Binance,
because there stable coins have high APY like BUSD has almost 5% APY, of course I think it's a good choice if want to stake on Binance.
because there stable coins have high APY like BUSD has almost 5% APY, of course I think it's a good choice if want to stake on Binance.
It's your personal choice as i feel that staking rewards are very low as compared to active trades rewards.
If i had a lot of stablecoins, i would rather try to trade them with altcoins and gain nice profits. I would not stake them to earn some very low passive income.
Now the APR rate of stablecoins has reduced further . a month ago i seen Binance offer 10% interest for USDT & BUSD. but now thay reduced for 2% and make 8% APR. if we compare with our central bank interest then stable coin interest rate still good. coz our central bank offer us 5-6% of interest with huge terms & condition and Government vat .
Ouch, that was a big cut there but I wonder what is the reason for that deduction? I think with the past bad experience of some stable coins, they should increase their rates, that is for the people to get attracted again because many of them are like the OP now who are now skeptical about investing or staking their stablecoins online but anyways you're right that it is still better than the rates which banks are always offering and other than that, banks are also much riskier to the fact that they can freeze, restrict and use your funds without your consent. Situations between stable coins and staking platforms are seem to be stable now. The OP can get back on action again.Now the APR rate of stablecoins has reduced further . a month ago i seen Binance offer 10% interest for USDT & BUSD. but now thay reduced for 2% and make 8% APR. if we compare with our central bank interest then stable coin interest rate still good. coz our central bank offer us 5-6% of interest with huge terms & condition and Government vat .
Ouch, that was a big cut there but I wonder what is the reason for that deduction? I think with the past bad experience of some stable coins, they should increase their rates, that is for the people to get attracted again because many of them are like the OP now who are now skeptical about investing or staking their stablecoins online but anyways you're right that it is still better than the rates which banks are always offering and other than that, banks are also much riskier to the fact that they can freeze, restrict and use your funds without your consent. Situations between stable coins and staking platforms are seem to be stable now. The OP can get back on action again.Though it cut some percentages, it's still good for passive profits, instead of letting your money sleep in your bank which only give you lesser APY, you just need to learn and understand both risk and the possibilities of the amount your money will grow, plus all the security of the platform that you will going to deposit your money.
Not bad for the APY. You are doing nothing but just waiting and trust the system and if the situation permits you to hold, expect an increase from your initial deposit.
Stablecoin stays the same without any change, USDC, USDT or BUSD is not the same as UST they are much more secure with UST. As for the choice of platform to bet on, I think it will be impossible to trust any other platform than binance, after the mass collapse of lending platforms. Although APY will not be as high as other platforms but at least it gives us a more secure feeling with our assets.
Have different APY reward when staking between stable coins like USDC, USDT or BUSD than with Terra Luna network stable coins UST, many people got much losing when staking on UST stable coin after price drop drastically last several months. I think keep safety when staking with stable coins have guarantee with their exchange volume and they have support with their exchange market platform like BUSD for Binance market.Still can't believing with other platform for staking stable coins except with Binance stable coins as BUSD than other stable coins kinds, ever last several weeks USDC drop few percent although success reach back and have the same price with BUSD as Binance stable coin. My view with under 10% APY reward for staking stable coins why not try deposit in the bank not have any different percentage given than stable coin.
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