Bank Deposits are Dead. Crypto Staking is Future.

in LeoFinance4 months ago

Have you noticed that the interest rates of the bank deposits are reducing in almost every part of the world. You may not find a single nation that is capable of offering 15 or so percent for bank deposits these days.

Whereas a lot of staked crypto coins can offer you 10 to 30 percent of the interest with no issues. In fact if there are more demands from the market the amount of percent that a coin can offer would increase.

So is it time for the crypto staking to become the mainstream asset? Let's discuss that.


Decentralized Staking is Future

You may notice some centralized or the VC-funded coins out there. And those coins are being circulated just to entice people to fall into their trap. Sometimes, such types of traps can hurt people if they invest in centralized coins.

Imagine where the decentralized people put up funds into the staking and help the network. And in the meantime they get reward out of it as well. I have found that decentralized staking helps overall community too.

Decentralized Staking adds Compounding

Let's say you have added 100 USD into the staked coin. And the interest that you earn from the staking is set to compound. The amount increases and that in turns increases your reward. Unless you need the reward, it can continue to grow and help your economy too.

Compounding is also one of the interesting feature that is added in many DeFi and the farms. Though both DeFi and Farms may be risky due to excessive return on investment. Staking limits how much it can give you so the Compounding and returns are moderate.

Staking can be Diversified

Let's say you staking the HBD in the savings section. And the compounded interest is also in the savings. But what if you want to diversify? What if you want to try out different tokens? You can do that with the staking.

You can diversify various forms of the staked investments. I have found them to be reasonable from my front. Bank deposits are not going to offer you anything better. But if you diversify with the coins that can be staked you can do lot better.

What do you think?

Do you see any value in the bank deposit? Or have you started investing into the crypto with a specific percentage? What is your mode of action going on as of now?

What are your plans for savings and investment compared to fixed deposits?

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I see bank cheating on a high level people who are depositing and so crypto staking is the future out there. What a Massive adoption crypto is still yet to witness soon

Yeah at this point, I keep the absolute bare minimum amount of fiat for bills. The rest is in crypto defi farms or staking.

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Bank deposit? Not me

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whats a bank!?

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Any minuscule Fed increase in interest rates will not be passed on by the banks to savings accounts of their customers.

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Well, I agree with you and wish government approve crypto soon. I prefer investing on crypto in future when I'll be ready for it, now focusing to earn it.

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Nice keep it up.
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