Quote from: nelson4lov on April 20, 2024, 10:20:38 PM

Quote from: R1dwanRz on April 20, 2024, 01:21:54 PM

~Snipped

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.

I will suggest sticking with Binance even with the rates are the lowest across the board. Back in 2021-2022 when UST (Do Kwon's stablecoin) was getting a high 20% interest rate on anchor protocol, I decided to indulge myself. When the Luna collapse happened, UST depegged massively. So my advice is to just stick with reputable exchanges. Binance in particular have a SAFU fund and the rates are very reasonable as I think they can actually earn it enough to fulfill the interest payment.

We must never forget that the profits we can get are always in proportion with the risk we take, so if an exchange is offering better rates than what you can find on the most popular exchange around the world, we need to wonder why is that the case? And the most logical explanation is that those exchanges need to offer such a high interest rate because their situation is not as stable as they claim, and this could lead a person to lose all their money in the case the exchange disappeared.