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?
Not a bad idea but I don't choose to get with those interest rates for holding bitcoin. I'm good as I'm the one holding it and not any platform that would take more than the interest that they'll give to me. I feel secured and better if it's on my wallet and I'm the one who has the private keys on it. The growth in value of bitcoin is already good to me, so whenever the price goes up, that's the already the reward for me and for the others too.
Majority would really be having the same mindset when it comes to this interest or staking on where it is much better if they do held off their coins on their own wallet rather than entrusting those coins on a platform just for you to earn small interest.
I feel secured too when you do know that you do possess the private keys of that wallet on where your coins been stored.You could sleep confidently
without worrying on something like that.
Basing with the risk is something depending on someones preference so its up all to you.
Yes, it's all up to us. But the way you keep your bitcoins is much more of a priority than to look at those percentage that you'll gain. The profit you'll get in staking is also available by just holding it.
People tend to have the little percentage gain plus the value going up and it's a win for them. But for us, we're already good holding it and we're enjoying looking at the price increases of bitcoin.