Hello friends,
I am doing good, and I hope that you are having a good time with your near and dear ones.
In the crypto market, we cannot ignore the value of stablecoins. It is an important part of the market. We can also consider stable coins for a decent passive income. I check such options in the market from time to time and every time I get surprised with the type of opportunities in this market. What if I say that you can earn in double digits just by holding the stablecoins? It sounds exciting because the exchange is offering a very nice APR of USDT. Its a very well-known stablecoin in the market. There are many other stablecoins but looks like USDT is given more attention.
We also have HBD on Hive that pays 20% APR and I have not seen any other project offering the same. This is the best option available in the market but there is a problem. The problem because it is not listed on the exchange. HBD should have an exchange listing so that more people can get access to this. People who are active in the hive have access to HBD but it is not Enough. Just imagine if easy access is provided to more people for hbd through exchange listing it can be good for hbd demand. Today I was checking out for USDT on Binance and here is what I see that is interesting.
This is an example where I have selected 1000 USD for a one-year duration keeping in flexible investment. Flexible means this fund will not be locked and I can withdraw it anytime without any lock-in period. For one year it is showing that I will be able to earn approximately 120 U.S dollars through auto compounding and this APR is approximately 12%.
NOW I have chosen to go with two years and you can see that the reward is 253 USDT for the same amount in the same mode of investment. There is surely a good increase when we increase the time duration
There are different options with one-year 2 years 3 years or five-year periods. When I go with five years it is showing fantastic returns through auto compounding and for 1000 usdt one can earn seven fifty-seven usdt as a reward. This is more than 75% APR and I don't think in traditional forms of investment such options exist.
I know that this is not possible in fixed deposit which is provided by the bank. There was a time when I was investing a lot in bank fixed deposits but NOW I have changed my habit and started investing in some mutual funds. After such opportunities in the crypto market now is the time when I will be changing my investment options because it can give better returns than mutual funds.
Crypto is a growing market but it is not regulated in India which does not mean there are no guidelines. Earnings generated in India through crypto are liable for 30% tax so for example, if you earn $1000 in a year through Crypto then ready to pay 30% of the income which is three hundred dollars to the government. This is a big amount and because of this many people are not entering the crypto market. Taxation is good because this is how the government earns money but at the same time this should also be fair. After going through this usdt earning potential on the exchange I see that there is no reason for anyone to invest money on bank deposits rather this is the best option to choose for the investment. What are your thoughts about it?
Thank you
Peace @mukund123