Hey folks, I need your suggestions, altcointalkers. I have some spare USDT in my wallet, and I'm looking for ways to maximize it, maybe through staking or savings. But to be safer, I want to hear all your opinions and suggestions on the best way you think it could be maximized or monetized. I don't use DEX, so CEX would be preferable. Thank you.
If you can exchange that USDT for another coin like Bitcoin, or even Ethereum then that would be much better instead of holding USDT.
Take note that we are near to a bull market phase therefore, we might see top coins going up in price in the next months. I don't store that many assets in CEX personally, but if you prefer storing it there, and you trust the exchange then don't stake USDT.
Convert that USDT to let's say Bitcoin or Ethereum. You will not only earn thru the APY that you will get by staking or saving those coins in CEX, but you will also learn thru capital appreciation as the price goes up. If you stake USDT, you might get higher APY (don't know if this is true), but you will miss out on more profits because USDT isn't increasing in price.
There's nothing wrong in staking or saving your assets in a CEX, but instead of using a stablecoin to do it, convert it into a more volatile, but established coin like Bitcoin, Ethereum, and other top coins out there.