With the uncertainty of the market, investors are now looking for places to earn money to fight against inflation and protect themselves from the risk of losing money by holding speculative assets.
As more and more people discover staking, the BUSD stablecoin, in particular, has grown in popularity as it has the capacity to earn up to 128.49% APY.
An article by BSCDaily gave a list of both decentralized and centralized exchanges in which individuals can potentially earn a fixed amount per year by staking the stablecoin BUSD.
Although there was no information given regarding the authenticity and security of each platform, the APYs were given for both centralized and decentralized exchanges.
Here are the Centralized Exchanges for BUSD Staking
Binance Earn
BUSD APY percentage: 4.15 percent to 120.06 percent
Binance Savings
BUSD APY percentage: 10 percent
Dual Investment
BUSD APY percentage: 4.78 percent to 128.49 percent
CoinLoan
BUSD APY percentage: 12.30 percent
Youhodler
BUSD APY percentage: 10 percent
Blockfi
BUSD APY percentage: 8.60 percent
Celcius
BUSD APY percentage: 7.10 percent
Crypto.com
BUSD APY percentage: up to 8 percent
Here are the Decentralized Exchanges for BUSD Staking:
Pancake Swap
BUSD APY percentage: 18.30 percent
Nerve Finance
BUSD APY percentage: 6.49 percent
BakerySwap
BUSD APY percentage: 12.18 percent
Rabbit.Finance
BUSD APY percentage: 6.88 percent
AutoFarm
BUSD APY percentage: 5.02 percent
Alpaca Finance
BUSD APY percentage: 6.99 percent
dForce
BUSD APY percentage: 5.39 percent
Dfi.money (YFII)
BUSD APY percentage: 7.05 percent
Belt
BUSD APY percentage:2.03 percent
Beefy Finance
BUSD APY percentage: 11.56 percent
Pancake Bunny
BUSD APY percentage: 4.95 percent
Wault Finance
BUSD APY percentage: 41.94 percent
MDEX
BUSD APY percentage: 11.37 percent
Cream.finance
BUSD APY percentage: 4.11 percent
Yearn.finance
BUSD APY percentage: 1.12 percent
Venus
BUSD APY percentage: 2.21 percent
AAVE
BUSD APY percentage: 3.29 percent
🔥 BUSD APY Landscape 🔥
— BSCDaily (@bsc_daily) March 9, 2022
Suffering from the Bear Market? There's a safe way to earn passive income with your stablecoin during this hard time 🚀
Check out our BUSD APY Landscape and choose the staking/ farming platform that suits you best 💸$BNB $BUSD #DeFi #Metafi pic.twitter.com/TcZxN0qy6N
Read Also: DApp Venus Protocol Hit $1.25 Billion in Transaction Volume Over the Last 7 Days
The Risks of Crypto Staking and Farming
Before investing in either centralized or decentralized exchanges to earn a fixed APY on BUSD, it is important to understand that these are not 100% risk free. Unlike banks, different protocols apply to them should the product run out of business.
Since banks are legally binded to return the investors' money back, by law, they will do so. When it comes to decentralization, however, different laws apply when it comes to staking and farming.
Also, it is important to understand that farming cryptocurrency is also risky and one way hodlers can lose money through this is by something called impermanent loss. Impermanent loss basically applies to liquidity providers which earn less than they would have should they just decide to hold the asset as explained by Binance Academy.
Related Article: NASDAQ Says Crypto Market Will Crash, Provides Tips to 'Prepare': Recommends ETH and BTC
This article is owned by Tech Times
Written by Urian B.
