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In today’s fast-paced world, it’s almost impossible to find a person who hasn’t heard of cryptocurrency or invested in some of them, including Bitcoin. While altcoins are well-known due to their volatility, stablecoins retain the reputation of being a safe haven. Moreover, if used correctly, they can be a good hedge against inflation.
Evolution of Stablecoins
Stablecoins have become a convenient medium of exchange, compared to Bitcoin and altcoins, which can lose or gain a third of their value overnight. Conversely, stablecoins are designed to maintain their stability over time.
Interestingly, not many people know that stablecoins can not only lay in your wallet getting eaten by inflation in the same way as real-world dollars, but they can actually be put to work. And with the inflation rate hitting 7.4%, it sounds like a better alternative to bank deposits that don’t even cover inflation.
At the moment, decentralized finance (DeFi) seems to be a new major trend, with various decentralized platforms offering innovative ways of making money. There appeared such notions as yield farming, liquidity mining, staking, and many others. In the case of stablecoins, staking is one of the safest and effortless options for investors. Let’s have a look at some of the best platforms to stake your stablecoins.
Stablecoin Platforms With the Highest Returns on USDT Staking
Jax.Network, the company behind this lucrative offer, builds a technological infrastructure for tomorrow’s energy-standard monetary system. It issues two cryptocurrencies on its own blockchain - a utility token and a stablecoin. The latter requires burning BTC in order to be printed, thus, maintaining its peg to the cost of hashrate or energy spent on mining. In the light of the recent depeg of UST, such a stablecoin solution appears a good stablecoin alternative.
So, at the moment, Jax.Network offers up to 36% APR on USDT or BUSD staking. Please note that 36% APR will be applied to the first $500,000 only. The platform requires users to lock their funds for 3-12 month to get higher rewards, while unlocked staking provides 20% APR, which is still a pretty generous offer.
Nexo is a DeFi platform offering users instant cryptocurrency loans and daily earnings on 40+ assets, including stablecoins. The platform has gained over 4 million users since its launch in 2018. At the moment of writing, it offers up to 12% APR on USDT staking. There is also a convenient tool that helps you to calculate your potential profits.
Binance Earn is a separate savings page on Binance crypto exchange. It offers both flexible (read unlocked) and fixed (read locked) staking options, where investors can deposit money into the contract and they will either get locked for a certain number of days or remain available for withdrawal at any time. In both cases, users get their APR, but fixed savings, as a rule, offer higher rewards.
Users with low investment amounts can deposit their USDT ($2000 max) in order to receive 10% APR. Deposits involving higher amounts can receive only 3% APR. Fixed deposits don’t have any caps though but APR is 5% only.
As you can observe, JaxCorp offers the highest APR on USDT staking at the moment. Indeed, it’s a relatively new platform, however, Jax.Network, the company behind it, was founded back in 2018 and received a CertiK KYC badge verifying its team members. On top of that, the smart contracts managing the staking program were also audited by CertiK and showed healthy performance.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.