Growing My USDT Savings With This Method

[Akinwale Akinkunmi]

What's the point of saving in USDT without finding a way to grow it and earn more money? While USDT is a stablecoin, which is beneficial, being stable doesn't mean it should just sit idle. From what I've learned about traditional banking systems, even when people save large sums, banks often invest those funds before the owner withdraws them, earning commissions in the process.

I'd like to avoid a similar scenario with my USDT savings. Currently, I have $500 in my wallet, and I'm interested in locking my USDT to earn more through airdrops, ideally with a 15% APR. Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

[Isicrypt202]

What's the point of saving in USDT without finding a way to grow it and earn more money? While USDT is a stablecoin, which is beneficial, being stable doesn't mean it should just sit idle. From what I've learned about traditional banking systems, even when people save large sums, banks often invest those funds before the owner withdraws them, earning commissions in the process.

I'd like to avoid a similar scenario with my USDT savings. Currently, I have $500 in my wallet, and I'm interested in locking my USDT to earn more through airdrops, ideally with a 15% APR. Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

Finally, someone saying it out loud, USDT just sitting there feels like a missed opportunity. If banks can flip our money, why shouldn’t we? Bitget’s got this ‘Lock USDT, Get USDT’ event running with a 15% APR. literally free money just for locking it up. Might be worth checking out since you’re already thinking in that direction.

[ABCbits]

I'd like to avoid a similar scenario with my USDT savings. Currently, I have $500 in my wallet, and I'm interested in locking my USDT to earn more through airdrops, ideally with a 15% APR. Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

I don't have any experience of growing USDT or other stable coin. But i do know that most services don't offer such high rates these. Services who does that eventually reduce their APR rate, since their goal is to attract new customer.

[target]

Locking your USDT for interest is not airdrop, its staking. Depends on how much you have to make money. $75 is good amount but this is annual which means your USDT has to be locked for a year.

Its got to be great to have more than $500. Its going to be worth it if you keep more than $100k. Trusting which staking platform however is going to be a very risky decision so choose wisely because some of them could become a scam.

[MrSpasybo]

Locking your USDT for interest is not airdrop, its staking. Depends on how much you have to make money. $75 is good amount but this is annual which means your USDT has to be locked for a year.

Its got to be great to have more than $500. Its going to be worth it if you keep more than $100k. Trusting which staking platform however is going to be a very risky decision so choose wisely because some of them could become a scam.

I think the topic creator is referring to Saving/Staking USDT on Binance CEX. It's a fairly safe and reputable place, I also Save USDT when DCA during the crypto winter to get a little extra USDT and buy a little more token.

In addition to Staking on CEXs, USDT holders can add liquidity on reputable DEXs with the USDT-USDC pair to get pretty good returns depending on the volume of transactions on the DEX. However, for me, APY from stablecoins is not really attractive, the price increase of BTC and many ALTs is my main goal when participating in this market ^^

[electronicash]

this is a good strategy in bear season.. converting your BTC to usdt first and then you can buy your BTC cheaper in bear, probably a year later.

one disadvantage to staking your usdt on the exchange is that, its like time deposit.  if you withdraw your funds early or before one year, you will not get that 15%. try just the 3 months or 6 months if you want a quicker waiting time and just re-stake it again after taking the interest.

[Stompix]

Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

You can start here:
https://forkast.news/celsius-files-for-bankruptcy-after-closing-defi-loans/
and ends here:
https://www.coindesk.com/policy/2024/12/03/alex-mashinsky-founder-and-former-ceo-of-celsius-pleads-guilty-to-fraud

There was something about this, like when you're giving up your coins, they are not yours anymore, but, who cares about that, right? 

[TomPluz]

Indeed, it would be a big mistake to just let our USDT lie idle and earn nothing in the end. In the traditional banking system, there are opportunities for our money to earn some interest though they can be negligible and not attractive especially after taxes. In the world of cryptocurrency, there are now many crypto-based platforms offering us staking opportunities. One just have to be diligent in looking for them and make sure that the platform is really credible so one needs not cry due to spilled milk afterwards.

[target]

Indeed, it would be a big mistake to just let our USDT lie idle and earn nothing in the end. In the traditional banking system, there are opportunities for our money to earn some interest though they can be negligible and not attractive especially after taxes. In the world of cryptocurrency, there are now many crypto-based platforms offering us staking opportunities. One just have to be diligent in looking for them and make sure that the platform is really credible so one needs not cry due to spilled milk afterwards.

Only if you trust the exchanges like Binance. I'm starting to think they are all conspiring with this bybit hack only to manipulate us to selling our coins because the price dips.  The bears will also dominate because people are afraid of the coins to be dumped.

My fear is if I convert my coins to USDT and the exchange got hacked and the exchange declares bankruptcy.  They could just create a new exchange forget the hacked one.

[Mia Chloe]

What's the point of saving in USDT without finding a way to grow it and earn more money? While USDT is a stablecoin, which is beneficial, being stable doesn't mean it should just sit idle.

Most exchanges especially centralized exchanges do offer USDT staking and that basically helps to give those that don't invest in other altcoins like Solana the ability to stake their crypto too. The nature of stable coins being pinned to fiat currencies has both some advantages and disadvantages too.

Take for example, those who staked USDT have an upper hand during this particular dump we recently experienced compared to those who used Solana.

[Akinwale Akinkunmi]

I'd like to avoid a similar scenario with my USDT savings. Currently, I have $500 in my wallet, and I'm interested in locking my USDT to earn more through airdrops, ideally with a 15% APR. Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

I don't have any experience of growing USDT or other stable coin. But i do know that most services don't offer such high rates these. Services who does that eventually reduce their APR rate, since their goal is to attract new customer.

Yes because for every giving out there must always be take in for exchanges

[Akinwale Akinkunmi]

What's the point of saving in USDT without finding a way to grow it and earn more money? While USDT is a stablecoin, which is beneficial, being stable doesn't mean it should just sit idle.

Most exchanges especially centralized exchanges do offer USDT staking and that basically helps to give those that don't invest in other altcoins like Solana the ability to stake their crypto too. The nature of stable coins being pinned to fiat currencies has both some advantages and disadvantages too.

Take for example, those who staked USDT have an upper hand during this particular dump we recently experienced compared to those who used Solana.

For me staking is actually part of the game to grow your money in an exchange, and having a trusted exchange to do that is actually the best, i can tell u the exchange i use most time if you need

[Report]

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I'd like to avoid a similar scenario with my USDT savings. Currently, I have $500 in my wallet, and I'm interested in locking my USDT to earn more through airdrops, ideally with a 15% APR. Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

USDT with its annual rewards of around 15% I think is good compared to Fiat USD which is only able to reach around 1-3%.
But in cryptocurrency if you trade with altcoins you can make a quick profit and a quick loss too because the fluctuations are very fast.

I think the 500 USDT you have feels small if you rely on 15% of the annual rewards.
Maybe it will also be felt if you have a capital of around 50,000 USDT and then in Savings with an APY of 15%, and I think later you will get more than 5 dollars every day.

[Z-tight]

Goodluck in what you want to do. I do not even hold usdt, i don't think stablecoins should be held for a longtime because they are centralized. The thing with staking is that you lose control of your funds and no matter how safe you think it is and how safe you think the platform is, not your keys, not your coins still stands.

[PX-Z]

I'd like to avoid a similar scenario with my USDT savings. Currently, I have $500 in my wallet, and I'm interested in locking my USDT to earn more through airdrops, ideally with a 15% APR. Although this is my first time exploring this option, I'd love to hear from anyone who has experience with it.

I don't have any experience of growing USDT or other stable coin. But i do know that most services don't offer such high rates these. Services who does that eventually reduce their APR rate, since their goal is to attract new customer.

Yes, after the high-rate offer, the returns usually drop by 1-5% after 2 month or so. Since your staked coins are locked for several months depending on the contract, plus the impact of USD inflation where USDT is pegged, it’s something to consider. In my opinion, it’s not worth it. I’d rather convert it to crypto and trade than let USDT sit idle in staking platforms.