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.
There are risks involved on this kind of investment, because if something goes wrong, like the exchange going bankrupt, scamming customers or your government introducing strict regulations regards their services, you may end not seeing your money anymore. We have already seen this happening in 2022 with some big exchanges and lending platforms, so be careful where you let your money deposited. Like people say: not your keys, not your coins...
The best interest rate for USDT I've seen recently being promoted on the internet was through Nexo lending platform (up to 16% yearly). I'm sure there are lots of conditions in order to hit the promoted interest rate, but if you are looking for alternatives of higher returns over your funds, you should give a look on their website and make your own judgement regards it.
Personally I have nothing to complain about Nexo. I really enjoyed investing with them previously, but due to the situation I mentioned above of scams in crypto market I decided to cash out all my funds in 2022 yet, as a preventive measure.