Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[KarthikP]

I just saw Binance has staking program as well as Savings Program. I am planning to invest in their Savings Program. Does anyone know what is the minimum amount to invest in savings program? It was mentioned anywhere. There is savings program for stablecoins like USDT , BUSD and other crypto , the annual interest rate for USDT is 8% , which is not bad. Has anyone had any experience with this?

 

[Wisdom01]

Well I saw something like that also, well I would say it's cool they are planning on doing so , but the interest rate is not satisfying for me if I want to invest I might just save a little to give it a try

 

[KarthikP]

Well I saw something like that also, well I would say it's cool they are planning on doing so , but the interest rate is not satisfying for me if I want to invest I might just save a little to give it a try

It seems the minimum Investment is $100 for Usdt and Busd. If you invest $100 , the returns are like $0.66 every month for lifetime which is not too bad because usdt is a stablecoin , the value remains same as $1

 

[Wisdom01]

It seems the minimum Investment is $100 for Usdt and Busd. If you invest $100 , the returns are like $0.66 every month for lifetime which is not too bad because usdt is a stablecoin , the value remains same as $1

Ok yeah it's still cool but you need to invest high to get more profit ,let's say $2000 will fetch $10 and that kind of amount is we quite high to get i think

 

[UserU]

@krishnamuri, since I've parked my funds with another interest account before, here is a simple concept of it.

Basically when you deposit your funds (BTC or any supported crypto) in your Binance account, Binance uses your funds for lending, which is mainly for leveraged trading by other Binance members and their own investments, just like a bank.

So to compensate, you earn interest in either crypto or stablecoin. But then there are some obvious risks; you don't own the Bitcoins since the private key doesn't belong to you, and anything could happen to the exchange such as a hack attack.

 

[ELSA-ELI]

@krishnamuri, since I've parked my funds with another interest account before, here is a simple concept of it.

Basically when you deposit your funds (BTC or any supported crypto) in your Binance account, Binance uses your funds for lending, which is mainly for leveraged trading by other Binance members and their own investments, just like a bank.

So to compensate, you earn interest in either crypto or stablecoin. But then there are some obvious risks; you don't own the Bitcoins since the private key doesn't belong to you, and anything could happen to the exchange such as a hack attack.
[/QUOTE
Ohh yeah i came across this very advice that its not recommended to hold your coins in an exchanger platform but rathe rin your own wallet.But Is a long term holding the best or short term?

 

[UserU]

Ohh yeah i came across this very advice that its not recommended to hold your coins in an exchanger platform but rathe rin your own wallet.But Is a long term holding the best or short term?

If you ask me, I'd avoid exchanges because trading volumes are very high and they're the top priority for hackers. There are safer, although not risk-free options such as crypto lending platforms with insurance.

However if you plan to hold (and trade in the meanwhile), go for short term and park the rest of your funds elsewhere.

 

[Josemendez]

I saw the saving option in my binance account , and after discovering that the interest is on yearly intervals , I had to avoid it as o e year will be much for me to wait just for 8% gain .

 

[Brain]

I saw the saving option in my binance account , and after discovering that the interest is on yearly intervals , I had to avoid it as o e year will be much for me to wait just for 8% gain .

This is my sentiments exactly, I know some people wouldn't mind the 8% gain per year but for me I think thats still too small to wait for so long for but it still good anyway.

 

[Josemendez]

This is my sentiments exactly, I know some people wouldn't mind the 8% gain per year but for me I think thats still too small to wait for so long for but it still good anyway.

Yea . the problem is that you may decide to save with bitcoin and some day in between the year , the price rose to an extent that you could have earned more than 8% if kept by yourself .

 

[Brain]

Yea . the problem is that you may decide to save with bitcoin and some day in between the year , the price rose to an extent that you could have earned more than 8% if kept by yourself .

There's my point exactly if it possible for me to earn more when they coins are with me then no need storing it somewhere else will rather go with storing it with me and it will be save that way.

 

[Josemendez]

There's my point exactly if it possible for me to earn more when they coins are with me then no need storing it somewhere else will rather go with storing it with me and it will be save that way.

Of course , apart from that if it happens that the company is hacked , you may lose your coin or if there comes for an urgent financial need that requires selling the coin , you won't be able to do so .

 

[UserU]

This is my sentiments exactly, I know some people wouldn't mind the 8% gain per year but for me I think thats still too small to wait for so long for but it still good anyway.

The rate is more attractive than all FDs in many banks.

But if I'm not mistaken, the 8% applies to stablecoins and not Bitcoin. The one I'm using is only offering 6% APY, but still better than the average of 4.

 

[Brain]

The rate is more attractive than all FDs in many banks.

But if I'm not mistaken, the 8% applies to stablecoins and not Bitcoin. The one I'm using is only offering 6% APY, but still better than the average of 4.

Okay if you say so. But better than means others are really that poor.so do you have an idea about the gain percentage for btc then. Anything that will bring more profit for me will be highly welcomed

 

[Reznov]

0.66$ monthly for a 100$ investement isn't the best thing that exists out there, it would take a lot of time, but if you have enough money, then why not, let money bring money

 

[UserU]

Okay if you say so. But better than means others are really that poor.so do you have an idea about the gain percentage for btc then. Anything that will bring more profit for me will be highly welcomed

Not really, just that other platforms have different incentives, like no fees to withdraw.

Nobody knows how high BTC could actually go, as it seems to be losing steam at the moment. Buy when it drops hard.

However the best advise I could give is to diversify your portfolio. Invest here and there, so you don't lose all eggs in one basket.

 

[KarthikP]

Ok yeah it's still cool but you need to invest high to get more profit ,let's say $2000 will fetch $10 and that kind of amount is we quite high to get i think

I saw the saving option in my binance account , and after discovering that the interest is on yearly intervals , I had to avoid it as o e year will be much for me to wait just for 8% gain .

This is my sentiments exactly, I know some people wouldn't mind the 8% gain per year but for me I think thats still too small to wait for so long for but it still good anyway.

0.66$ monthly for a 100$ investement isn't the best thing that exists out there, it would take a lot of time, but if you have enough money, then why not, let money bring money

Heah the profit is not that much , only 8% per annum for stablecoin. But advantage is that stablecoins doesn't lose their value , while Bitcoin price may fluctuate anytime. And also Binance is reputed exchanger , never heaed of an issue so far.

@krishnamuri, since I've parked my funds with another interest account before, here is a simple concept of it.

Basically when you deposit your funds (BTC or any supported crypto) in your Binance account, Binance uses your funds for lending, which is mainly for leveraged trading by other Binance members and their own investments, just like a bank.

So to compensate, you earn interest in either crypto or stablecoin. But then there are some obvious risks; you don't own the Bitcoins since the private key doesn't belong to you, and anything could happen to the exchange such as a hack attack.

Yeah that's what is bothering me. If the exchange is hacked , then we may lose all Investments.

 

[Wisdom01]

Heah the profit is not that much , only 8% per annum for stablecoin. But advantage is that stablecoins doesn't lose their value , while Bitcoin price may fluctuate anytime. And also Binance is reputed exchanger , never heaed of an issue so far.


Yeah that's what is bothering me. If the exchange is hacked , then we may lose all Investments.

Stable coin do lose value but dosent flunctuate like normal crypto currency , for example like 1 dollar which could be used in buying many items but when it lose it value it can only buy 1 item

 

[KarthikP]

Stable coin do lose value but dosent flunctuate like normal crypto currency , for example like 1 dollar which could be used in buying many items but when it lose it value it can only buy 1 item

Yeah the fluctuation is too less in case of stablecoins almost nil when it comes to usdt or Busd. It's like sometimes $1.003 and other times $0.999

 

[Wisdom01]

Yeah the fluctuation is too less in case of stablecoins almost nil when it comes to usdt or Busd. It's like sometimes $1.003 and other times $0.999

Yeah even busd currently is at $0.99 in binance , so they flunctuate with a cent or nill and I like it like that being stable so it can't be compared to crypto