Best safe places to get USDC or DAI Interest?

[NwWork]

Recommendations please and why your suggestion is safe too thank you

[1715581667]

1715581667

[1715581667]

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[1715581667]

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[jackg]

Have you got any experience with crypto? If not then trying to earn a safe yield off stables without risking your entire portfolio to too much risk probably won't happen.

If you do, finding a liquidity pool to stake in is probably your safest option (rewards can go up and down throughout the week - find a network and pool provider that's trusted and has low fees). This is the least risky option I can think of but it still exposes you to risk (mostly from the code of the smart contract you're using and any vulnerabilities in it as well as the other issues I mention).

Holding stablecoins is still a fairly risky business as you're exposing yourself to one centralised authority (most of the time).

[blockman]

Well, most of the platforms that will offer you interest are likely centralized platforms and you know what that means? You don't hold the assets that you'll put into interest accounts there.
As you're looking for a "safe" place to deposit those stable coins for you to earn, all of them bear the risk and that's why you need to choose the one you're trusting the most. Most exchanges are offering it but again, the risk is that you don't hold them so always remember this>

Not your keys, not your coins

[dbshck]

I would say Aave, Compound, and Maker (Oasis) are the best platform for decentralized lending. They are the OG lending protocol in Ethereum, has been running for years with billions in TVL. This is as safe as you can get in dApp space.

Note that since we're in a bear market and DeFi isn't as hot as it is back in 2020-2021, the interest rate for stable lending is not attractive at all right now, mostly within 1-2% APY. Considering the risk of holding stablecoins and smart contract risk of these platforms, I would say the return is really not worth it. You're better off buying BTC or ETH directly at this prices, store them safely, and sell later when the prices go up.

[tvplus006]

Recommendations please and why your suggestion is safe too thank you

You are in the cryptocurrency market, so you should understand that it is impossible to invest safely here, and there is no guaranteed profit here. But if you choose where to place your finances in the event that they are not invested in cryptocurrencies, it is better to choose a traditional bank, since the difference in profit that you will receive from placing your stablecoins will not cover your risks from losing your deposit.

[hd49728]

If you stake your stable coins in liquidity, staking pools from providers that can be DeFi projects or cryptocurrency exchanges, you are no longer control your stable coins.

You are taking risk to lose your stable coins by staking. Celcius, Voyager, Three Arrows Capital bankruptcies are examples for that risk. I think you did not know about those companies and their bankruptcies because if you knew it, you knew about the risk and did not ask this question.

Bankruptcies, lose pegs, hacks, shutdown, many risks.

Stablecoins Are Not Worth the Risk

If you want to have passive income, pick savings in big banks.
If you want to take risk, pick Bitcoin and hold it in your non custodial wallets.
Don't take risk with stable coins.

[Apocollapse]

There's no such safe places to stake stable coin because you're staking in centralized platforms which controlled by unknown people which can steal your token or get hacked due to low security. The platforms doesn't responsible to recover your losses and there's no insurance.

Since you're want to stake a stable coin where the price will always inflated, I'd choose to to save my fiat money in saving banks account or time deposit. It's work similar like staking and my funds is insured.

[NwWork]

There's no such safe places to stake stable coin because you're staking in centralized platforms which controlled by unknown people which can steal your token or get hacked due to low security. The platforms doesn't responsible to recover your losses and there's no insurance.

Since you're want to stake a stable coin where the price will always inflated, I'd choose to to save my fiat money in saving banks account or time deposit. It's work similar like staking and my funds is insured.

Any examples of such savings banks account/time deposit accounts?

[tsaroz]

Recommendations please and why your suggestion is safe too thank you

The best place to get interest on USDC and DAI are defis or decentralized farms. You'll comfortable get 9-18% on most platforms without any issue.
You need to keep your keys safe and access it in safe environment and you are in full control of your coins unless the platform you are staking has loopholes or rug to pull. (Which are rare these day due to multiple audits.)
You get better rates than centralized exchanges. Other centralized platform like NEXO might seem easier but with the example of Celsius, I'll recommend everyone to avoid such centralized platforms.