Staked USDT with 22% APR
Crypto space is full of excitement these days and its very important to explore the available opportunities that can help us earn more. Last week I published a leofinance post in which I talked about the drop in USDT token price because of DUF in the Indian market. I was able to buy some cheap USDT and now USDT is kind of back again to its normal price. In India, the USDT price is most of the time at a premium which is INR 77-80 and I got USDT at INR 73. It was surely a good opportunity to buy USDT at a low price and whatever funds I had on the exchanges I use to buy USDT.
Now there is another opportunity that I have availed which is to earn 22% APR on USDT. Indian exchnage BitBNS has a deposit plan that offers 22% fo APR and I have staked my USDT. Its mandatory to have BNS tokens and with a combined deposit of USDT and BNS token will pay 22 % apr which is too good.
This plan is for 30 days and allocation has been completed by 73% so once its 100% then it will be locked and no further deposits will be accepted. Bitbns brings such a deposit plan with the duration of 30 days and I also use other plans with Bitcoin and Ethereum etc. I like these types of earning plans and this is one of my favorite exchnage because of this.
I have deposited 280 USDT and after 30 days it will be matured automatically so if there will another plan then I will reinvest once again.
USDT is a stable coin so there is the least risk in holding it and even with a deposit I would be able to earn in form of USDT which is another plus. HBD is also a kind of stable coin in the hive ecosystem and I can earn 10% apr paid on monthly basis but here since I can earn more than double so I am taking this opportunity as of now. If I would have nothing like this then I know that I will convert it to HBD and put in saving to earn 10% apr which is double what I get from my banks.
I keep on exploring such opportunities that can help me earn this way because I usually don't do trading because I am not good at it and to be honest I don't want to lose my money. When there are plenty of options to earn with the least risk then why should I go for higher risk things.
What do you suggest on this?
Thank you so much
Stay Safe
This is very good and I can see that it's very much profitable as well because the return of investment is almost double what is available in the market. Nice move
Greetings @reeta0119, you seem to have made good moves, in this world of cryptocurrencies you have to know how to take advantage of opportunities when they arise, and this platform seems to be giving a good rate of return, thanks for introducing us to this project and success in your investments.
Good for you for taking advantage of this opportunity, now wait for the results and withdraw the investment to protect your investment, and as I always say, to investigate very well the places where we put our money is paramount.
@tipu curate 3
Upvoted 👌 (Mana: 2/5) Get profit votes with @tipU :)
Greetings friend @reeta0119 this calls our attention this type of publications that you share with us, as it gives us the possibility to learn about new investment projects. Greetings
Hi @reeta0119
Interesting choice of topic. Almost like if you were reading in my head. Just few days ago I was wondering what to do with my stable coins, so it wouldn't sit around on binance without bringing any extra profits.
However, trusting Indian exchange is in my view very risky move. It's clear to me that if this exchange would shut down (and they can do it since India's regulators are very unpredictable) then as their customer I would be at the losing end. without chance of receiving any funds back.
That's at least what I'm worried about.
Stay safe.
How can they actually offer 22% APR for depositing USDT? In order for them to be able to make it happen - they would need to charge more than 22% everyone who want to borrow USDT. Otherwise, it seem that they would be paying those dividents with money coming from new depositors.
And that smell like a ponzi scheme to me.
What does it mean? How much BNS tokens person would need ? Does it depend on amount of USDT we hold in the wallet?
Yours, Piotr
Hi Piotr
Bitbns is a leading exchange in India and lots of investors use this to deposit their crypto. I agree that it could be risky looking at the current Indian crypto state. I follow your advice and will be careful.
May be you can have a look at https://bitbns.com/trade/#/fixed-deposits/ and you will what they are offering.
This is surely high but they have been doing it for other crypto coins as well. Like for ETH they pay 15% and if person use their native token BNS then they pay an additional 5%.
The requirement of BNS depends upon the staking amount and it shows before we deposit funds. Their token was launched in April 2020 and it was just INR 2.64 and now its value is INR 10 approx that means they have good funds and they are also expanding the use case of BNS.
By any chance have you checked the crypto.com exchange? If not then I suggest you to check and you will find that the exchange offers a nice apr with so many coins.
Thanks so much, friend.
Have a great weekend.