Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: iamcryptic on March 05, 2024, 09:46:01 AM
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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.
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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 don't use DEX or CEX, then where do you want to stake it on. It is only CEX that has the stake feature. You should know that staking your coins is like gambling, because anything can happen with your coins, and it is not good to leave your coins with third party. I don't know if there is any site where you can stake USDT, but it will be possible if you convert your USDT to cryptocurrency, which you must need an exchange to do that before you can stake it.
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USDT isn't a cryptocurrency, but rather a token which exist on multiple cryptocurrency blockchain. So i expect those exchange actually lend your USDT to other people with certain rate and share the profit for you. It comes down whether you trust the exchange and the borrower, although i wouldn't take such risk.
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[...]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.
The bigger the CEX, the safer for you because there's less likelihood that they will run with your money. The caveats there are the offered rates could be lower and they could withhold your withdrawals anytime.
I've also seen some decent centralized crypto casinos offer staking as well but with higher odds.
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USDT isn't a cryptocurrency, but rather a token which exist on multiple cryptocurrency blockchain. So i expect those exchange actually lend your USDT to other people with certain rate and share the profit for you. It comes down whether you trust the exchange and the borrower, although i wouldn't take such risk.
I would also add that the staking reward is usually very small (I am not sure that it even follows the inflation rate) and does not justify the risk of holding funds with a third party.
If someone is going to hold + expect some interest, in a stable currency, then an ETF is probably a better choice.
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for USDT, I don't think it's worth staking on CEX, it's better if you exchange it for BTC, ETH or other coins that have a normal APY, but you need to pay attention to the risks of staking, because all cryptocurrencies tend to vary greatly and fluctuate. strong pricing can impact the revenue you earn. Additionally, there are many fake projects online that may try to trick you out of your coins by redirecting you to fake websites
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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.
Why not hold your cryptocurrency on your wallet and and that alone will be more profitable to you and you're in charge of your asset than when you're taking the risk on using any of these exchanges for staking, all you could do is in looking for a prominent cryptocurrency and choose one or two for an investment, then try to hodl for some time and you begin to realize profits as the time goes and its hitting a bull market performance.
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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.
I will advice you to use a Dex because it's more safer to stake their than Centralized exchanges where anything can happen at any time. However if you insist that Cex is what you prefer the most then I will advice you to check Binance, Kucoin and OKX if they are available in your region. Please, if Binance is not allowed in your place, kindly make use of another one ASAP.
Just another advice. Why not buy a good coins and have some profits with those money than wait to have nothing at all in staking. What you are going to have from staking in a year can be gotten from what you are going to get in a month but there is risk which is the volatility unlike the stable coins that are stable and doesn't fluctuate in price that much to coins.
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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.
As far as I know, USDT is not a cryptocurrency, if I'm not mistaken. I have also experienced doing staking in centralized exchange and also in DEX, and in my experience with those, I didn't have any problems.
Now, if you ask me for my opinion, CX is safer if you do stakes or staking compare in DEX, although I have a DEX that is okay with me. So far, it's fine with me.
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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.
At this time, I think holding stable coins is not a good plan to generate profits. If I had USDT, I would look for the best tokens to invest and get profit in the bullrun instead of taking 10-30% APR from Earning/Staking. BTC is not bad choice!
If you do not want to invest but just want to earn profits from USDT in a stable way, you can refer to programs of large and reputable CEXs such as Binance[1] or OKX[2]. You can also provide USDT-USDC liquidity on major DEXs like PancakeSwap[3].
[1] Binance Earn (https://www.binance.com/en/earn)
[2] OKX Earn (https://www.okx.com/earn)
[3] PancakeSwap USDT-USDC pool (https://pancakeswap.finance/info/pool/pairs/0xec6557348085aa57c72514d67070dc863c0a5a8c)
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USDT isn't a cryptocurrency, but rather a token which exist on multiple cryptocurrency blockchain. So i expect those exchange actually lend your USDT to other people with certain rate and share the profit for you. It comes down whether you trust the exchange and the borrower, although i wouldn't take such risk.
You can lend to smartcontracts, in defi.
Some of them are somewhat reliable , but they won't pay much
For example, if you have usdt in ethereum blockchaun, you can lend it to uniswap. You will be a liquid provider.
https://app.uniswap.org/pool
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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 don't use DEX or CEX, then where do you want to stake it on. It is only CEX that has the stake feature. You should know that staking your coins is like gambling, because anything can happen with your coins, and it is not good to leave your coins with third party. I don't know if there is any site where you can stake USDT, but it will be possible if you convert your USDT to cryptocurrency, which you must need an exchange to do that before you can stake it.
I think, what he meant is that he refers more to use CEX, not DEX.
But really, staking USDT? Hmmm, this probably won't be a very big profit, especially if you only have a little USDT. I once tried to do it on Binance. However, if I saw the number of my clients and the rewards during a certain period, I canceled it. Because the number of clinics I have is not that many.
I agree more with the suggestion from you that it's better to just invest in cryptocurrency, especially Bitcoin. This will take quite a long time, perhaps because we have to patiently wait until the peak of the bullish era. We can choose BTC or top coins. Or by diversifying.
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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.
Many people today are tired of staking on exchanges. It's a process that involves lock up your crypto currency for a long period of time in order to earn more rewards.exchanges like binance, bybit and Coinbase offer rewards program for staking certain cryptocurrencies. There are risk involved in staking von exchange like possiblity of a hack or exchange going bankrupt.
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USDT isn't a cryptocurrency, but rather a token which exist on multiple cryptocurrency blockchain. So i expect those exchange actually lend your USDT to other people with certain rate and share the profit for you. It comes down whether you trust the exchange and the borrower, although i wouldn't take such risk.
You can lend to smartcontracts, in defi.
Some of them are somewhat reliable , but they won't pay much
For example, if you have usdt in ethereum blockchaun, you can lend it to uniswap. You will be a liquid provider.
https://app.uniswap.org/pool
It's valid option, although OP clearly prefer CEX and USDT is very popular token, which makes many people already set to provide USDT liquidity at very low fee rate.
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I find this untrue because more people still prefer to stake on CEX than DEX due to the complex nature of staking on DEX not to talk of associated risk like numerous scams and hacks.
The complex nature could be avoided when there's user-friendly application/wallet which simplify the process. As for associated risk you mention, it's exist on both CEX and DEX.
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I know, everyone has different characteristics in making money, and for me staking on an exchanger is not very profitable, especially using USDT. It locks up our money for a long time and to be honest, it is very boring because when the cryptocurrency market is bullish, we cannot enjoy the fun like other people.
What is suitable for my investment style is holding for the long term. We can see that BTC is the strongest coin currently and is a barometer for other cryptocurrencies. I can suggest you to hold BTC in a personal wallet. You won't get a certain amount of BTC for the holding, but if your goal is money, at least the exchange rate against FIAT will rise in the future.
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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.
Upcoming several days later, have two staking project launching on Binance and Bybit exchange, there are available for staking USDT in Bybit and you need to convert to be FUSDT in Binance if want staking new coins launchpool there. I don't think any difference values between USDT or FUSDT and you can stake your stable coins there with profitable earn new coins later. But have little reward allocation when staking with stable coins like Binance giving 20% reward by using FUDST for staking and will get 80% allocation if use BNB.
The same with bybit when staking using USDT you will earn small allocated coins because many participants invest or staking usdt due less risk.
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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.
Why not convert this into cryptocurrencies so you can stake in exchange ?
there are lot of exchange that offers staking like Binance but I happened to not tried that before but a countrimen of mine will start teaching me how to do staking as well.
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USDT isn't a cryptocurrency, but rather a token which exist on multiple cryptocurrency blockchain. So i expect those exchange actually lend your USDT to other people with certain rate and share the profit for you. It comes down whether you trust the exchange and the borrower, although i wouldn't take such risk.
You can lend to smartcontracts, in defi.
Some of them are somewhat reliable , but they won't pay much
For example, if you have usdt in ethereum blockchaun, you can lend it to uniswap. You will be a liquid provider.
https://app.uniswap.org/pool
It's valid option, although OP clearly prefer CEX and USDT is very popular token, which makes many people already set to provide USDT liquidity at very low fee rate.
Even if the interest rates are lower, it is better and safer to keep money (USDT) in DeFi.
CEX are risky. Centralized exchanges are every now and then going bankrupted or hacked.
We will soon see another great one falling, for sure.
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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.
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I have done it at Binance before, and I enjoyed it. Right now I am not, but back in the day when I did, it was a good one. Staking in the sense that you are getting interest for your coins makes sense to me, after all if I like the investment then why not get more of it when you can. The only downside is that people who think "not your keys not your coins" will not like this idea and I understand that, there is really no worry to it at all, we should probably consider that a valid opinion. However, aside from that there is really no reason why not to do something like this, it should be quite valid option without a doubt.
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Even if the interest rates are lower, it is better and safer to keep money (USDT) in DeFi.
CEX are risky. Centralized exchanges are every now and then going bankrupted or hacked.
We will soon see another great one falling, for sure.
It seems interesting how does it work? I honestly don't understand how you can lend a sample USDT to Uniswap? I'm reading the "How to add liquidity to Uniswap v3" I thought that you were the one who would provide a trading pair sample DAI/LTC if someone wants to swap LTC to DAI you are the provider and you only earn depending on how much price you set? Did I miss something? So how do you lend it to Defi?
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Even if the interest rates are lower, it is better and safer to keep money (USDT) in DeFi.
CEX are risky. Centralized exchanges are every now and then going bankrupted or hacked.
We will soon see another great one falling, for sure.
It seems interesting how does it work? I honestly don't understand how you can lend a sample USDT to Uniswap? I'm reading the "How to add liquidity to Uniswap v3" I thought that you were the one who would provide a trading pair sample DAI/LTC if someone wants to swap LTC to DAI you are the provider and you only earn depending on how much price you set? Did I miss something? So how do you lend it to Defi?
You are correct, you need to provide a pair.
You will get rewards out of it, based on the fees of the service.
You can see the APY (Annual percentage yield) here:
https://poolfish.xyz/calculators/uniswap
(https://www.talkimg.com/images/2024/03/07/ysWCg.png)
I think it is way lower if you are not in a bull run...
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Even if the interest rates are lower, it is better and safer to keep money (USDT) in DeFi.
CEX are risky. Centralized exchanges are every now and then going bankrupted or hacked.
We will soon see another great one falling, for sure.
It seems interesting how does it work? I honestly don't understand how you can lend a sample USDT to Uniswap? I'm reading the "How to add liquidity to Uniswap v3" I thought that you were the one who would provide a trading pair sample DAI/LTC if someone wants to swap LTC to DAI you are the provider and you only earn depending on how much price you set? Did I miss something? So how do you lend it to Defi?
I have coinbase they pay 5% on USDC I could exchange my USDT for USDC and get 5%.
I am USA based.
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You are correct, you need to provide a pair.
You will get rewards out of it, based on the fees of the service.
I have coinbase they pay 5% on USDC I could exchange my USDT for USDC and get 5%.
I am USA based.
Ok, I get it but I am still confused how about the amount you deposited to the pool once someone already swapped your position?
Will the deposit amount be exchanged into DAI?
After I watched some videos related to uniswap v3 and the pool I saw you need to deposit both tokens as sample DAI and LTC to uniswap pool and earn 0.3% on the fees.
So now what will happen if all LTC you deposited are all swapped? Do I need to deposit to the pool again?
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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.
Actually storing fund on centralised exchanger always risky, and even then if you want to stake on centralised exchanger then you have to remind that they can change the rules at anytime like I had stake some usdt on binance exchanger and few times go on then reduce the apr. So after these things if you can accept those than stake on cex.
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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.
Yes recently I am staking Ethereum on Binance. Binance is best exchanger if you want to stake your fund on exchanger you can use Binance. on the other hand you can stake your fund by using dex. But my opinion, using personal wallet is better.
So i tell you can stake your fund by using your personal wallet. Or you can stake by using Binance or others renown Exchanger. Also you can use coinbase it will be good for you i think.
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You are correct, you need to provide a pair.
You will get rewards out of it, based on the fees of the service.
I have coinbase they pay 5% on USDC I could exchange my USDT for USDC and get 5%.
I am USA based.
Ok, I get it but I am still confused how about the amount you deposited to the pool once someone already swapped your position?
Will the deposit amount be exchanged into DAI?
After I watched some videos related to uniswap v3 and the pool I saw you need to deposit both tokens as sample DAI and LTC to uniswap pool and earn 0.3% on the fees.
So now what will happen if all LTC you deposited are all swapped? Do I need to deposit to the pool again?
I don't know details about those smartcontracts which are complex.
But it really works, the volumee is huge because of those liquid providers.
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You are correct, you need to provide a pair.
You will get rewards out of it, based on the fees of the service.
I have coinbase they pay 5% on USDC I could exchange my USDT for USDC and get 5%.
I am USA based.
Ok, I get it but I am still confused how about the amount you deposited to the pool once someone already swapped your position?
Will the deposit amount be exchanged into DAI?
After I watched some videos related to uniswap v3 and the pool I saw you need to deposit both tokens as sample DAI and LTC to uniswap pool and earn 0.3% on the fees.
So now what will happen if all LTC you deposited are all swapped? Do I need to deposit to the pool again?
coinbase gives 5% on USDC.
so you could put in cash exchange for usdc and get 5% interest. of course it won't be insured like the cash would be.
coinbase would let you trade
usdt
doge
btc
ltc
eth
etc
solana
into usdc and get the 5% yearly as long as you let the usdc sit still
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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.
USDT? nah? you won't make money out of it. And I wouldn't go on staking on exchanges as well, not sure how big it is right now, but during it's early days, per annum is big. However, it dwindle as time goes by.
If there will be a suggestion to you? Then why not just BTC and wait for the bull run. It's going to be massive as speculated and you still have time to accumulate and just let it sit in your wallet. You can get more than 5% per year passive income.
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I will suggest that you change it to BTC or ETH , since it is USDT, but also remember how the price fluctuate and changes everytime, but the risk is worth it cause you're sure you won't loss the money...
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I have actually staked on Binance during 2020/20, and I have also staked on Pancake Swap, and from my experience, those two means of staking cryptocurrency don't yield much profit, and at the same time, the investor is putting his funds at risk because the exchange could encounter any security bridge that can lead to a loss of funds, or someone could also attack you and get your login details to access your account.I will not advise you to stake your coins on CX or Dex; instead, you can invest in Bitcoin and hold it in your wallet.
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I have actually staked on Binance during 2020/20, and I have also staked on Pancake Swap, and from my experience, those two means of staking cryptocurrency don't yield much profit, and at the same time, the investor is putting his funds at risk because the exchange could encounter any security bridge that can lead to a loss of funds, or someone could also attack you and get your login details to access your account.I will not advise you to stake your coins on CX or Dex; instead, you can invest in Bitcoin and hold it in your wallet.
Yes, you are right, the profit from the staking method really depends on the capital you use because the staking calculation is very profitable for those who have a lot of BNB and want long-term investment by staking BNB. Investors will usually stake a minimum of 1000 BNB using staking, whereas if only a few BNB certainly won't provide much profit.
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Today, Bybit launching new launchpool Nibiru coins and the USTD or Nibiru coin staking will earn reward based on how much their fund for staking and separated based on the number of participants. Its good ideas for OP looking the staking place for his USDT fund and its more safety by using USDT for staking in Bybit. You can participant right now but each user have maximum limitation around $2k of USDT fund and you can use your family account for spending each $2k and staking there until nine days later with reward Nibiru coins receiving every hours.
I am so excited with launchpool or staking usdt coins, we not losses yet and earn new coins from launchpool every hours and sell it because nibiru coins already listing on many market.
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I got a coupon for Futures trading on binance exchange and I used the deadline days in an attempt to profit and it led me to success. So I warmly recommend to everyone who is a long-term user of the exchange that they will get something like that and that they will stick with it after everything and achieve their goal for the future.