Can you make a living with Binance Earn ?
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Is it possible to generate enough staking/savings rewards to make a living with the offered binance APYs?
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Do some math.
If you need around 3k a month to live, you need 36k a year. With an average of 7% in earn, you would need to stake 514k to get that APY.
You can’t make a living on high risk assets. The interests are highly inconsistent whilst the base assets itself is very volatile. A lot of the staking rates are unsustainable either. Over the last year alone, your asset would have halved in value which means you earning would have halved too. Crypto is highly speculative right now to depend your living on it.
Make a living? No too risky. But it’s a good product for passive gains.. invest about 5 to 6% of your net investments in it, stay put till next bull market and make a major purchase like fancy car or fancy house with it. Basically use crypto gains to buy unnecessary shit only.. never for daily use.
No, the UST screwed there burnt our savings. They said its safe. Finally you see nothing is safe on crypto. It’s kind of a gamble.
This was my dream too.. there was the “safe” UST staking on binance 21% APY. I wanned to put 30k UST and i would earn 600$ / month..
. I started to buy UST(5000$ first) and after 1 week UST depeged and not it is worth 100$ so i will never trust to put my saving in any crypto… not even stablecoins… they are all shitcoins after all.
Now binance deleted all tweets where they promoted the UST staking “save & fiat backed”
No. APY isn’t static. And it changes from time to time.
Yes you can . If you have 1M to invest
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