This is why Crypto Fixed Deposit is way Better than Bank Deposit
Stake and earn is such a fantastic thing in the crypto space because we can earn a decent income by doing nothing and only one action is required from our side to stake our Crypto holding and it's done. It's been quite a long time and I have been using this service with one of the leading exchanges in India and the exchange name is Bitbns. This exchange was launched in late 2017 and now its a leading crypto exchnage in India. They launch their deposit program which is known as Fixed Income Plan on every Friday at 12 pm IST and one plan is for 30 days so after this period the deposit gets matured and invested amount along with the returns paid back to the wallet automatically.
My deposit got mature yesterday only and now I am waiting for Friday at 12 p.m. so that I can re-stake in the plan and they have already started showing the upcoming plan on their website. Keeping funds idle does not earn anything ideally however they also play 3% APR just for holding the liquid balance for selected tokens. This is something that I don't get elsewhere and that's why this is my favourite exchnage. This time they have added a couple of more new tokens as well but I do not have these tokens and mostly my staking happens with etherum token.
Very good amount on the taking of ethereum and there are two options. If I deposit an ethereum coin without their native token then I will be able to are 15% a PR but if I deposit along with their native token then I will get 5% extra and in total, I will be earning 20% APR. Their native token name is BNS token and currently, its value is around 12 cents. Now since my last deposit got matured 1 day before so I need to wait for the day and once the plan will open at 12pm on the Oct then I will stake again.
As shown in the above snapshot, we can earn 50% interest Cake token, 20 %, and 15% on etheruem with certain conditions and with Bitcoin, we can earn 10% and 12% if we deposit with their native BNS token. I would like to mention that in India banks pay 2.5% interest per annum in saving account and 5-6% on fixed deposits and this varies from bank to bank however there is hardly any bank tat pay more than 6% per annum o fixed deposit.
Now since I have the option to earn much more than what banks can offer then why should I go bank for the same. I mean if I can earn almost 3 times what can I get with my money deposit in the bank then I honestly don't see any reason to stay with the bank and I think because of this many people are moving away from banks. Here I earn returns in form of the same coin that I have deposited so I get two benefits in return. One- I earn interest and two-If value appreciate then its a bonus for me ad I know that in the long run value will appreciate for sure. I just love crypto and this is just one of the reasons however there are many. What about you?
Thank you so much
Stay Safe
Greetings @reeta0119 certainly we must diversify our investments and these bets that you mention every day call me more attention, because of their growth potential and the returns on our investment. Valuable and formative delivery greetings
Hello @reeta0119
Definitely as people come to understand this and see the reality of cryptocurrencies and what we can do with them, I am convinced that the use of banks is going to decrease considerably.
This you mention is a good example of all this.
Thanks for sharing this information.
I must say that cryptocurrency is now gaining more waves and when people get to terms with it, it will lead to mass adoption.
I agree with you that having your stakes deposited in crypto will have a better yield than the physical bank's deposit. Cryptocurrency is indeed taking over.
Nice piece buddy. Thanks for sharing
Hello @reeta0119
I think I came to get involved in the cryptocurrency market just in time, I agree with you no doubt the stake and profit is such a fantastic thing in the crypto space, I have been actively participating in DeFi and I think I will continue to bet on good projects, there is a great potential that I sense will soon explode in favour of the health of the crypyo market.
Best regards, be well.
Greetings @reeta0119, the blockchain in general offers many economic benefits, after one is in this world you realize everything that is possible to do, this is of great importance for many people to decide to bring their resources here and leave the traditional banks that offer few benefits and thousands of problems to get your money, good information that you share with us.
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Banks are the real scam because there is FD which is giving you double after 5 to 7years but if you can understand then you will not get double amount because the Inflation would have gone up that time. And other side you are getting far better APR thank banks in crypto and lso if you are holding in better coin then definitely you will get high earning because of that coin price wiould increase. Solid read.
Greetings friend, I really love your article dear. I have come to realize that only those who are ignorant saves there money in the bank for long term receiving just a little token as interest 😂where as there are some many opportunities that crypto has to offer with massive returns 😊, crypto staking is one thing I love so much about the crypto eco system. I say a big NO to saving in the bank currently keep on staking dear and thanks for your information to help those who are ignorant about crypto opportunities. Crypto is indeed the future ♥️♥️♥️♥️