I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.
What’s your take on this? Is this a good or bad idea?
Correct me if i'm wrong but i think my friend once told to me that we can stake USDT to Binance, but if it is wrong then i missheard it. With USDT i think the only problem that we can face is security of the exchange or our own account. About price, maybe stable coin can help the price at least not dumped.
You are not wrong. Your friend says the truth about staking USDT in Binance so you can earn some rewards, especially if you use more than $100 on the stake.
If you take a look at Binance in Flexible Saving, with only $5, you can earn interest for about $0.0013699 per day, so that can be good enough to earn the interest if you do not want to use your USDT to trade.
Everything you do will have a risk so you need to know the risk first before you decide. Binance gives you many coins to stake to earn the interest, so that will be up to you.