Would you stake stablecoins now?

[dansus021]

yeah the TVL(total value locked) can be indicator as well how much people that deposit into that vault.

I actually have try beefy for several time and it work pretty fine to me and after I checked the link that you give above that beefy give two insurance for the vault the insurace.io and nexus mutual i think its safe. but if the APY don't have huge different between Cex you can choose CEX since they regulated by government

UST at the first place was algorithmic that pegged with their native coin LUNA. we should aware of this and try to move to other stablecoin and i think we also need to diversified to other dollar-pegged stablecoin not just focused in one.

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[MiF]

I think there is no harm on staking if we stake in reliable platform, the only problem if we stake in the platform that made by scammer and our asset will soon be loss. If we are going to stake we need to be careful and do it in a trusted stakes platform because in this case we give them an access to our asset while we put it in thier platform that was very risky in our part so we need to be careful always.

[fuguebtc]

I think there is no harm on staking if we stake in reliable platform, the only problem if we stake in the platform that made by scammer and our asset will soon be loss. If we are going to stake we need to be careful and do it in a trusted stakes platform because in this case we give them an access to our asset while we put it in thier platform that was very risky in our part so we need to be careful always.

Along with we are in a bear market, looking for profit as well as risk when investing in very big coins, staking stable coins is also a solution to generate income Good passive in the moment. As long as we use the leading platforms in the market there is nothing to worry about, don't be too greedy to join the platforms that offer high APY, they can crash at any time.

If you choose to stake I recommend binance. Whether we trade or stake, Binance is the exchange that gives me the most peace of mind.

[Xampeuu]

I think there is no harm on staking if we stake in reliable platform, the only problem if we stake in the platform that made by scammer and our asset will soon be loss. If we are going to stake we need to be careful and do it in a trusted stakes platform because in this case we give them an access to our asset while we put it in thier platform that was very risky in our part so we need to be careful always.

Along with we are in a bear market, looking for profit as well as risk when investing in very big coins, staking stable coins is also a solution to generate income Good passive in the moment. As long as we use the leading platforms in the market there is nothing to worry about, don't be too greedy to join the platforms that offer high APY, they can crash at any time.

If you choose to stake I recommend binance. Whether we trade or stake, Binance is the exchange that gives me the most peace of mind.

right. Staking on stable coins is an option, this means a guaranteed passive income. than staking on coins that do not necessarily develop will certainly be more risky. binance is the best exchange right now, so it would be safer to do so. I think this is an alternative option other than trading for income. especially if we are still in the stage of learning to trade, of course the allocation for staking is greater than for trading, this is related to money management

[pieppiep]

I've been staking stablecoins on Binance and even though the rewards aren't much, they're passive income for me. There is no problem with the reward. I'm sure it will get bigger later because I do auto staking, where when I get the reward from staking, it will stake together in the next staking (correct me if I'm wrong). On Binance, there are several stablecoins you can use to generate more stablecoins and so far, I haven't had any issues.

If you compare the returns from staking and investing you will find that the profit earned is much lower than the return on investment, but if it is compared to the bank's interest rate you will see that it is not a small sum of money. In addition, investing is sometimes risky, not always profitable in the short term. If you have some idle money and do not want to risk investing it, then placing a stake may not be a bad idea for you.

That's true. But even if the return on staking is small, at the very least, it's money that we can collect and let grow. And even though later, the results are not too big compared to the investment, it is the profit money we get from staking. While in investment, you need to hold your coin in your wallet without using it for anything. And yes, investment has risks, so you need to understand them before you start.

[gunhell16]

Before the Terra-Luna incident, with UST crashing, I was into staking stablecoins on Beefy for an average of 12-15% APY, which isn't that bad. However, the whole incident took a toll on me and quickly withdraw from DeFi altogether and temporarily put my money on Binance Savings, for 10% APY, with interest distributed on a daily basis.

Certainly, it wasn't the best move, but at that point, it was the safest option, at least till things stabilize. According to Beefy's discord server, the past few months it's struggling to make ends meet and had to go through changes regarding their fees and BiFi's yield. Ideally, I'd move my funds from Binance to somewhere decentralized again, but after UST dropped to zero, I was skeptical. I'm currently browsing on Beefy and see some interesting options, such as USDC-BUSD, linked below. It's offering 16% APY but the TVL is relatively low, should I be worried about it? Any suggestions or what to look for?

https://app.beefy.finance/vault/cone-usdc-busd

If you have a large holding of Bitcoin, and you think that bitcoin will fall below 15k$, you can use stablecoins, so that its value will not be lost or changed, because at least in this case you will not be affected by the fall of bitcoin price. But this is just an example that if bitcoin is first converted to stablecoin and the second thing you can do is put the stablecoins, if, for example, it is BUSD, in staking like what is in balance, at least while it is stored on the platform at least it's still growing, not as much, but it's still better than putting it in the bank, which is only 1% per annum.

This is just advice which in my opinion is not a bad thing and a good thing to do if you are sure that bitcoin is going to crash hard.

[yhiaali3]

The crash of Luna and its stablecoin has already caused a loss of confidence for many, but this should not make you lose faith in the rest of the strong stablecoins that have been stable for a long time such as USDT, USDS, BUSD These stablecoins are still in good condition and high reliability, there are There are also decentralized stablecoins, but in general I prefer staking when investing large amounts of reliable strong coins like Bitcoin and Ethereum.

[Jawhead999]

Since when do banks offer 5-10% interest rate? The most you can get here on timed deposits is 0.03% to 0.10%. I'd rather invest my money on some random coin than deposit it in a bank.

In my country, but if your country only offer 0.03% to 0.10% then it's really suck to invest in banks since you're not earn anything as the value will always decrease due to inflation. I don't think it's good to invest in random coins since the risk is higher than staking stablecoin or invest in Bitcoin.

It is very important to know the credibility of the exchanger we use in order to have some assurance.

Did you refer to Binance? Their assurance only work if the hacker didn't steal the whole Binance money. If the hacker can get the whole money Binance have, their assurance are useless since they need to recover their operational first, not their customers.

[bossofbetting]

Staking is too risky. I don't think that lock my stablecoins for 12 or 6 month to get 10-20% of ROI is a good idea (with high risk of project scam). Much better is buy the dip of BTC or good Altcoins and get much more.

[fvb]

Before the Terra-Luna incident, with UST crashing, I was into staking stablecoins on Beefy for an average of 12-15% APY, which isn't that bad. However, the whole incident took a toll on me and quickly withdraw from DeFi altogether and temporarily put my money on Binance Savings, for 10% APY, with interest distributed on a daily basis.

Certainly, it wasn't the best move, but at that point, it was the safest option, at least till things stabilize. According to Beefy's discord server, the past few months it's struggling to make ends meet and had to go through changes regarding their fees and BiFi's yield. Ideally, I'd move my funds from Binance to somewhere decentralized again, but after UST dropped to zero, I was skeptical. I'm currently browsing on Beefy and see some interesting options, such as USDC-BUSD, linked below. It's offering 16% APY but the TVL is relatively low, should I be worried about it? Any suggestions or what to look for?

https://app.beefy.finance/vault/cone-usdc-busd

To be honest, I do not know what to advise you in this case. Yes, and I do not like to advise, as well as listen to other people's advice. But in this case, I support investments with Binance because I myself use this option. I consider it reliable because of the reputation of the exchange.

[Kelvinid]

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To be honest, I do not know what to advise you in this case. Yes, and I do not like to advise, as well as listen to other people's advice. But in this case, I support investments with Binance because I myself use this option. I consider it reliable because of the reputation of the exchange.

Well, that was because all of us have different market approaches. Some people will think that staking is a great opportunity to earn and yes, it was indeed profiting but not that much compared to trading. And the reason why some people couldn't make themselves confident of what to say for they have not even done this in real life or have less experience with this.
yes, I was using Binance as my staking platform and it was safe there. Choosing a reputable exchange really matter as we handed over them our money, our coins to stake.

[icalical]

Actually my first choice to stake was BUSD in Binance, I think staking is the only way we can use Stablecoin as investment, since the price is stable, but also because the price is stable so it's less worrying than staking other crypto. However, there are still some risk like what happened to Terra, but I think something like that is unlikely happened to Binance.

[Oneandpure]

Include the platform where you will stake your stablecoins and the asset you chose. One of the examples here is the UST before with huge APY on Anchor. The APY before was around 20% and when the disaster started to happen to UST, the value of UST is dropping and the drop could reach -20% in just a few hours or a day. It's not worth it, even if you stake to some centralized exchange, you still can't guaranteed how safe they are.

UST problem drop drastically maybe APY reward given for staking more around 15% until 20% different with other stable coins like BUSD just given under 10% only, have hype method when giving higher APY reward actually bad thing happen later. Usually we saw with many shit altcoin kinds, early launching given crazy APY more than 1000% but few days later price drop drastically. I think not really safety when staking assets in several altcoin kinds, better try with another alternative like investment or hold in the bank although have inflation values but keep guarantee with our money until several years later.

[Ultegra134]

Staking decision is certainly based on its market performance. I know that still there are stablecoins that are worth trusting and profitable.
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Include the platform where you will stake your stablecoins and the asset you chose. One of the examples here is the UST before with huge APY on Anchor. The APY before was around 20% and when the disaster started to happen to UST, the value of UST is dropping and the drop could reach -20% in just a few hours or a day. It's not worth it, even if you stake to some centralized exchange, you still can't guaranteed how safe they are.

I was actually planning to use one of the following:
https://app.beefy.com/vault/velodrome-usdc-dola
or
https://app.beefy.com/vault/spell-mim-crv

Second one looks a little more safe.

Honestly, when UST was offering 20%, it didn't seem too exaggerated because you could easily find other vaults at 15%–18%. The one I had my money on consisted of BUSD and UST. If I am not mistaken, it was achieving an average of 15%. Due to being made of two coins, it severely minimized my losses when UST crashed. If I were to chase the 5% more in APY, I'd be screwed.

Did you refer to Binance? Their assurance only work if the hacker didn't steal the whole Binance money. If the hacker can get the whole money Binance have, their assurance are useless since they need to recover their operational first, not their customers.

Binance sounds safe enough, I highly doubt that something like this could ever happen. Even if it did, they would be forced to reimburse their users.

yeah the TVL(total value locked) can be indicator as well how much people that deposit into that vault.

I actually have try beefy for several time and it work pretty fine to me and after I checked the link that you give above that beefy give two insurance for the vault the insurace.io and nexus mutual i think its safe. but if the APY don't have huge different between Cex you can choose CEX since they regulated by government

UST at the first place was algorithmic that pegged with their native coin LUNA. we should aware of this and try to move to other stablecoin and i think we also need to diversified to other dollar-pegged stablecoin not just focused in one.

Thus, it's best to look for a vault with a high TVL, since it's showing that it's trusted by investors, right?

CEX looks interesting but offers very limited options, some altcoins and their savings sections are yet to be activated.

[erep]

UST problem drop drastically maybe APY reward given for staking more around 15% until 20% different with other stable coins like BUSD just given under 10% only, have hype method when giving higher APY reward actually bad thing happen later. Usually we saw with many shit altcoin kinds, early launching given crazy APY more than 1000% but few days later price drop drastically. I think not really safety when staking assets in several altcoin kinds, better try with another alternative like investment or hold in the bank although have inflation values but keep guarantee with our money until several years later.

I think it doesn't matter if the UST coin gives high APY because its value is unstable and the price is very low, other than that UST coin is not worth staking unless you are willing to accept the high risk of losing your investment, so it's better to stake BUSD even though the APY is not high but at least much more safer than the coins associated with Luna. However, your suggestion to save or invest in a bank is not an alternative option because the impact of inflation in many currencies has decreased, except for the option of holding USD rather than other currencies.

[Ultegra134]

I'm officially pissed off right now. Yesterday I logged into Binance and noticed that I had received less interest than expected, but I was too sleepy to bother and didn't think much of it. I just went on savings and Binance has decreased the APY once again, but in a sneaky way that my sleepy brain didn't notice yesterday. 8% APY now applies only up to $1.000, instead of $2.000. My profits are currently cut right in half, and I'm not going to tolerate another reduction. I'd rather find a vault on Beefy.

[OcTradism]

Yesterday I logged into Binance and noticed that I had received less interest than expected, but I was too sleepy to bother and didn't think much of it. I just went on savings and Binance has decreased the APY once again, but in a sneaky way that my sleepy brain didn't notice yesterday. 8% APY now applies only up to $1.000, instead of $2.000.

If lower APY can give you a safer option, it should be the better. Hunting for higher APY contains more risk for your capital. You can trust or distrust Binance but what I am discussing here is very general. I don't support the sudden change (lowering) in APY from Binance but I think they did see something and want to go first to reduce risk for their platform as well as investors.

That is really disappointing, anyone who has been in that position will think it was a joke offering and the Binance just allowed it, or the exchange itself changing the course.

You can not trust that centralized platforms will not change their terms of service. They can make announcements and give you a window time to leave or decide to stay if you agree with their new terms.

[Kadal Ijo]

At the moment I stake with a stable coin in several Exchanges spots, I get apy that varies from 6% to tens of percent, I think stabilized coins are better and safer because they are not afraid that prices will drop.

[ololajulo]

I don't think staking in stablecoins is worth it anymore, about 1 month ago I withdraw all my investment in stablecoin binance-usdt. not without reason, in my opinion with 10%-15% APY offered but with a fairly large initial fund, I think it is more to be used for other investments that can take bigger profits.

maybe this is not good advice but maybe it can be considered.

Lets be sincere with ourselves with the current market, which cryptocurrency investment is safer? Not any of the volatile coin are capable of defending the risk of investing.10-15% APY for a stable coin is a smart decision and if we still expect a leg down in bitcoin, we can make the profit from our less risk stable coin to take a position then. More also your money is not safer in the bank, so consider your options very well   

[Iyeman]

At the moment I stake with a stable coin in several Exchanges spots, I get apy that varies from 6% to tens of percent, I think stabilized coins are better and safer because they are not afraid that prices will drop.

Small apy looks better for stable token. Remember that even if that was so small but there's guarantee for your money will not be affected by the volatility in the market unlike another token which is offering very big APY but these tokens become scam token a month after release.
I think that if we must also aware about this too. Im still staking my stable token for now. It sounds like that if we will be getting stable income and that's far better