Well asking this question cos I wanted to see how many of you do stake your USDT. I have seen my friends earning lots of interest from their USDT holdings. So I also wanted to stake some USDT to earn some interest since it's sitting on my wallet doing nothing. I checked a few cexs that offer USDT saving option or other options that offer interests.
So I was seeing that Binance offering 2.85% APR on their flexible staking product, which translates to roughly $0.0781 daily for a 1k USDT stake. But some other exchanges like Bitget and Bybit offer tiered flexible staking rates that can potentially yield higher returns. For example, Bitget offers rates ranging from 3.70% to 8.70% APR depending on the staked amount and with 1K staked, it's like 0.169$ daily, and Bybit offers a flat rate of 2.13% to 7.12% APR also depending on staked amount, so with 1K staked, it's like 0.126 USDT daily.
Now I want to know what's gonna be best. I know Binance has lower interest but i'm still torn between these. So I wanna know y'all thoughts.
3% APY will be nullified by 3% inflation rates so at the end you are making no profits by risking your capital completely. Staking on exchanges is no more profitable in my opinion. People believe AVAX is a choice so you can try which is better than conventional centralized staking in terms of returns.
safety should be their primary concern in staking thier USDT or else it will be a big loss instead for them.
although inflation is also something we look at in staking USDT, i think the people from underdeveloped countries will not see $0.12 daily a problem. this is actually a good amount for them, i'ts just unsure in the long run.
that inflation is crashing up for the US but in South Africa, i think its an advantage holding USD.