Crypto Exchange

[Error 504]

hi, which exchange do you guy park your coins at?

any good exchange that pays a LITTLE bit of interest?

or any good exchange that might help your stored coins grow a LITTLE bit?

 

thanks.

[Lurick]

None are going to pay you interest for just putting your coins there, they aren't a bank.

If you want interest convert them to something like Cosmos, Algo, etc. that do pay you for staking on the network.

[tikker]

51 minutes ago, Error 504 said:

hi, which exchange do you guy park your coins at?

None reallly. It's all in personal wallets.

51 minutes ago, Error 504 said:

any good exchange that pays a LITTLE bit of interest?

or any good exchange that might help your stored coins grow a LITTLE bit?

Binance offers their "Earn" thing and ETH 2.0 staking which give a little bit of interest. Not exactly an exchange on the top of my recommend list anymore though. As @Lurick says there are coins that allow staking, which basically means locking up your funds and getting interest over that. Finally there are places like Celsius or Nexo that are basically savings accounts offering interest.

[Error 504]

22 hours ago, tikker said:

None reallly. It's all in personal wallets.

Binance offers their "Earn" thing and ETH 2.0 staking which give a little bit of interest. Not exactly an exchange on the top of my recommend list anymore though. As @Lurick says there are coins that allow staking, which basically means locking up your funds and getting interest over that. Finally there are places like Celsius or Nexo that are basically savings accounts offering interest.

i checked out celcius, and another one called voyager. how come they force users to must download app to sign up? they don't seem to allow users to use a computer and set up an account. i'm just curious.

 

thanks.

[tikker]

10 minutes ago, Error 504 said:

i checked out celcius, and another one called voyager. how come they force users to must download app to sign up? they don't seem to allow users to use a computer and set up an account. i'm just curious.

 

thanks.

I don't use either, so I don't know. I've only used Nexo, which works fine without an app.

[Error 504]

58 minutes ago, tikker said:

I don't use either, so I don't know. I've only used Nexo, which works fine without an app.

what's that nexo token the website talks about?

 

thanks.

[tikker]

10 minutes ago, Error 504 said:

what's that nexo token the website talks about?

 

thanks.

There's a page about it: https://nexo.io/token It's just their own token. You don't have to use it.

[airborne spoon]

I keep my coins in my private wallet.

I sell my coins for fiat on kraken.

If I do any trading it's on kraken

I don't know of anywhere that'll give you intrest on coins like a savings account. That's not how stuff works.

With the only caveat being POS networks but then you have to buy or trade to get that coin which will cost money and at low amounts of said coin you will only get next to nothing for staking the coin.

[Error 504]

39 minutes ago, airborne spoon said:

I keep my coins in my private wallet.

I sell my coins for fiat on kraken.

If I do any trading it's on kraken

I don't know of anywhere that'll give you intrest on coins like a savings account. That's not how stuff works.

With the only caveat being POS networks but then you have to buy or trade to get that coin which will cost money and at low amounts of said coin you will only get next to nothing for staking the coin.

ya i searched around, it's those companies that do staking that are paying a small amount of interest, but then the possible risks that come with it, probably not really worth it, since crypto's themselves go up way more than what staking pays, but then again, of course crypto's go down too,

 

thanks.

[tikker]

2 hours ago, Error 504 said:

ya i searched around, it's those companies that do staking that are paying a small amount of interest, but then the possible risks that come with it, probably not really worth it, since crypto's themselves go up way more than what staking pays, but then again, of course crypto's go down too,

 

thanks.

That's because staking is you providing worth to the network. We're all using this to make money in various ways, but people should not forget that's mostly not what it's for. You can see staking as your faith in the network being higher the more you put in, and helping validate transactions. In return for that you get paid. Nexo is a loan company, which is how they make money and how they can pay you interest. You can get 4-12% of interest over your savings, while the interest they charge on loans is 6.9-13.9%. The money you put in is what they loan out to others.

 

4% is pretty high to be honest and interest is for long term gains, just like a savings account with a bank. Plus when crypto goes up it has a compounding effect of getting you both interest and becoming worth more. I don't keep too much there though, just in case it's a scam after all, but so far so good.

[Error 504]

On 10/5/2021 at 1:06 PM, tikker said:

just in case it's a scam after all, but so far so good.

i said that to my friend, and he replied "if people believe in it, then it's not a scam".

 

but then again, people used to believe the earth was flat.............

[tikker]

7 hours ago, Error 504 said:

i said that to my friend, and he replied "if people believe in it, then it's not a scam".

 

but then again, people used to believe the earth was flat.............

I mean, the entire point of a scam is to make people believe it. I don't think it is a scam, but just don't want to have all my eggs in one basket.

[Bad5ector]

Coinbase offers rewards / interest programs for certain coins. They also allow for staking with some coins that support it. It has highish transaction fees and has been in the news due to security concerns as of late. But Ive had a good experience with them thus far.