My present investment plan in binance

[Krishna1942]

Recently I deposited few dollors in binance and converted them into usdt. I invested in earn program present rate of interest is 12%. While deposit it is 24% it varies daily. It is a good idea?  Please share your views.

[IIrik11]

last 3 year return on bitcoin is more than 200%

for ethereum it is more than 100 %

for solana is more than 300 %

what i mean is u would gain more if u invest in a good coin instead of staking stablecoins

disclaimer: that's just my point of view, dyor always!

[Krishna1942]

last 3 year return on bitcoin is more than 200%

for ethereum it is more than 100 %

for solana is more than 300 %

what i mean is u would gain more if u invest in a good coin instead of staking stablecoins

disclaimer: that's just my point of view, dyor always!

Your point of view is also correct but that is risky and depends on market situations. More risk more profit

[IIrik11]

last 3 year return on bitcoin is more than 200%

for ethereum it is more than 100 %

for solana is more than 300 %

what i mean is u would gain more if u invest in a good coin instead of staking stablecoins

disclaimer: that's just my point of view, dyor always!

Your point of view is also correct but that is risky and depends on market situations. More risk more profit

i'd say keeping ur coins in a cex is far more riskier than buying a coin and keeping it in a cold wallet.

[Stalker22]

~
Your point of view is also correct but that is risky and depends on market situations. More risk more profit

Every investment carries its own risks.  It seems to me that while your plan might be less profitable, it isn necessarily less risky.  The core issue is that when you hold assets on a centralized platform like Binance, you arent truly in control of your funds.  The company holds the keys, and they have the power to freeze your account or assets for a variety of reasons.

[TheUltraElite]

Every investment carries its own risks.  It seems to me that while your plan might be less profitable, it isn necessarily less risky.  The core issue is that when you hold assets on a centralized platform like Binance, you arent truly in control of your funds.  The company holds the keys, and they have the power to freeze your account or assets for a variety of reasons.

Nice to see you here, are you from India or have connections there? Dont forget to introduce yourself in case you want to share with the rest of us.

Indeed Binance is centralized, I dont like to store coins on exchanges because of the attack vector of exchanges getting hacked. Their interest might seem lucrative but better to keep it in banks under FD, that is somewhat higher in control.

But you can always put some part ~10% if your assets in such risky investments.

[pawanjain]

Every investment carries its own risks.  It seems to me that while your plan might be less profitable, it isn necessarily less risky.  The core issue is that when you hold assets on a centralized platform like Binance, you arent truly in control of your funds.  The company holds the keys, and they have the power to freeze your account or assets for a variety of reasons.

Nice to see you here, are you from India or have connections there? Dont forget to introduce yourself in case you want to share with the rest of us.

Indeed Binance is centralized, I dont like to store coins on exchanges because of the attack vector of exchanges getting hacked. Their interest might seem lucrative but better to keep it in banks under FD, that is somewhat higher in control.

But you can always put some part ~10% if your assets in such risky investments.

Keeping money in banks is a safer option when compared to holding money on exchanges.
But don't you think that it would be harder to sell all the crypto holdings for INR and then hold it in a bank.
We would end up losing more in taxes instead. May be we can do it with ~10% of the holdings but rest of it would be better in stable coins in a non-custodial wallet instead.

[LucyFurr]

Keeping money in banks is a safer option when compared to holding money on exchanges.
But don't you think that it would be harder to sell all the crypto holdings for INR and then hold it in a bank.

If someone got the intention of buying crypto again with that money then their safer bet is stable coin possibly USDT so they no need to safe any delays when they need to buy the crypto back but holding crypto or fiat in crypto is always a risky choice. But as far as I know we can't hold INR in any exchanges since wazirx so our choices are p2p, in that the only option is receiving INR into bank account or use it to buy crypto.

[TheUltraElite]

But don't you think that it would be harder to sell all the crypto holdings for INR and then hold it in a bank.
We would end up losing more in taxes instead. May be we can do it with ~10% of the holdings but rest of it would be better in stable coins in a non-custodial wallet instead.

You should not sell too much that tax attention is driven all towards you. I prefer not selling at all during the times of high taxes and only keeping myself limited to buying gift cards to purchase stuff. For now I think the future price of bitcoin is going to multiple times of what it is even today, so holding BTC on the other hand is also a lucrative option.

But definitely not going to these interest schemes on exchanges. They just want liquid cash for their exchange which is why they run such schemes.

[pawanjain]

You should not sell too much that tax attention is driven all towards you. I prefer not selling at all during the times of high taxes and only keeping myself limited to buying gift cards to purchase stuff. For now I think the future price of bitcoin is going to multiple times of what it is even today, so holding BTC on the other hand is also a lucrative option.

Yes holding bitcoin is a good option but on the other hand if you know there's an upcoming bear market then won't you consider selling your bitcoins for a stable coin so that you can buy more later ?
In such a scenario, I think, the best option would be to hold a stable coin in a non-custodial/hardware wallet instead.

But definitely not going to these interest schemes on exchanges. They just want liquid cash for their exchange which is why they run such schemes.

That is very true. Exchanges use our money as their liquid cash and freeze our money at any time.
The schemes they provide us is to attract us and while it's fine with a smaller amount for a short term but for the long term we should definitely avoid it.