Post
Topic
Board Altcoin Discussion
Re: Staking usdt off exchanges
by
blockman
on 07/12/2021, 07:51:36 UTC
Actually, if you are going to do staking, you must be ready to entrust your money to this platform as you have to deposit your USDT to this platform and there are risks that this platform will be hacked or scammed, and as your money are in a smart-contract or in a wallet of this project, you are likely to lose them. So when you choose a platform for staking or farming, do a careful research.
That's really the risk that one person who's going to stake his USDT to a platform. I'm imagining how much interest you can get from that but with the certain worry about being hacked, you'll have that farewell to your money once they're targeted.
The attractive part is that those farming and staking that you might see offering for the other altcoins, they'll give such high percent for the gain that you can make on them and that's really intriguing for someone who's always calculating the possible return.