Exploring various staking and lending opportunities for stablecoins on centralized exchanges can offer attractive returns for cryptocurrency investors. These platforms provide a secure environment for users to earn passive income by staking their assets or lending them to other users. Popular CEXs like WhiteBIT, Nexo and Binance offer diverse options tailored to different risk appetites and investment goals. This guide delves into the best opportunities available, helping you make informed decisions to maximize your crypto earnings.
It is important to note that holding or staking/lending crypto on a centralized exchange (CEX) is not as secure as keeping those coins in your own Web3 wallet. The adage ‘Not your keys, not your coins’ highlights that without control over the private keys to your cryptocurrency wallet, you do not truly own the coins. The entity controlling the keys, such as a cryptocurrency exchange, essentially owns the coins and can restrict access or even lose them. Therefore, it underscores the significance of managing your private keys to ensure complete ownership and control over your digital assets. While I acknowledge this valid point, I believe the risk is minimal and outweighed by the potential for higher returns. For me, diversifying risk and maintaining a balanced portfolio is more important. Nevertheless, there are several interesting staking and lending opportunities on the Binance Smart Chain.
| Platform | Token/Pair | max. Yield/APY | FOI | Locked |
|---|---|---|---|---|
| WhiteBIT | USDT | 18.64% | Lending | Yes |
| WhiteBIT | USDC | 17.39% | Lending | Yes |
| Nexo | USDT | 16% | Leding | Yes |
| Nexo | USDC/USDP/TUSD | 14% | Lending | Yes |
| Nexo | Fiat (e.g. EURO) | 15% | Lending | Yes |
| Crypto.com | USDT/USDC | 15% | Earn | Yes |
| Blockchain | USDT/USDC/DAI/ USDP/cEUR | 10% | Staking | Yes |
| Binance | USDC | 6,84% | Staking | Yes |
WhiteBIT: The CEX with the highest APY
WhiteBIT is a centralized cryptocurrency exchange that facilitates the trading of various digital assets with a focus on security and user experience. It offers a range of services, including spot trading, margin trading, and staking, providing users with multiple ways to engage with the crypto market. Additionally, WhiteBIT implements advanced security measures and compliance with regulatory standards to ensure a safe trading environment for its users.
WhiteBIT certainly has the most attractive APYs for stablecoin on any wellknown CEX. You can pick between several lending periods. The APY will be higher the longer you lock your crypto. The range is basically between 9% (for 10 days USDT) and 18.64% (for a year). You can cancel your active (lending) plan any time and don’t have to pay a penalty. However you will lose the accrued interest completly.
Unfortunately it is not possible to have more than one active plan for the same coin and period. That is the only real downside in my opinion. So if you already have 5,000 USDT locked for one year and somehow want to add more it’s not possible. You either have to go with a shorter period or switch to another stablecoin.
It is possible to get your APY as high as 21% with their loyaltly programm and holding a certain amount of the CEX-token WBT. More information on all the availabe assets, plans and rates are on their site.
Nexo: More Stablecoins and Fiat
Next in line is Nexo, an all-in-one crypto plattform. What Nexo might lack in terms of higher APY they certainly make up for it by providing a wide variety of stablecoins and even Fiat investment possibilites. The base rate for USDT is 11%, for other stablecoins it’s 10% and for Fiat it is 7%. By locking it up for a year customers can up their APY for USDT by 3%, for other stablecoins by 2% and for Fiat by 6%. An additional 2% is possible in case you chose their CEX-token Nexo as the payment method for your interest.
Especially the 15% on Fiat currency makes it very attractive in my opinion. It is more than four times as much as you would get in most western countries for fixed-term deposits. As with WhiteBIT more information on all the available assets, plans and rates are on the Nexo site.
Crypto.com: The Temporary Alternative
Crypto.com is a cryptocurrency platform designed to make digital asset usage more accessible, offering services like trading, staking, and payments. It provides a secure exchange for buying, selling, and managing cryptocurrencies, alongside features like a Visa debit card for spending crypto directly and earning rewards. Additionally, Crypto.com offers tools for DeFi access, NFT marketplaces, and educational resources to promote broader adoption of blockchain technology. The 15% APY on USDT and USDC is limited for three months only.
Blockchain: The Solid Alternative
Blockchain.com is a leading centralized cryptocurrency exchange that provides a platform for buying, selling, and trading a wide range of cryptocurrencies. It offers users a secure and user-friendly interface, along with additional features like a crypto wallet, blockchain explorer, and real-time market data. As a prominent player in the crypto space, Blockchain.com emphasizes security, regulatory compliance, and ease of access to digital for both novice and experienced traders. Besides the most common dollar-pegged stablecoins USDT, USDC, DAI and USDP users also have the chance to earn passive income on the Celo Euro stablecoin.
Binance: Leading the Rest
Binance is the leading global cryptocurrency exchange that offers a wide range of services including spot trading, futures trading, and staking, as well as a platform for initial coin offerings (ICOs) and token launches. It supports numerous cryptocurrencies and provides advanced trading tools and features for both novice and professional traders. Additionally, Binance has expanded its ecosystem to include a decentralized exchange (Binance DEX), a blockchain (Binance Smart Chain), and various financial products like lending and savings.
Binance was offering double-digit-APY staking for stablecoins for a long time but it seems that those days are gone. They still have some good offers from time to time especially arond the time the launchpool is running. So keep an eye out for that.
Final Note
You can stake or lend your crypto on other plattforms as well but from what I have seen the APY is either way smaller (e.g. on Kraken its < 6% on USDT and on MEXC it’s 6% flat) or the plattform has not enough trading volume for my taste.
In case you might find this post and/or blog helpful please read this. If you want to get in contact with me just send me a mail to projectstableincome (at) proton.me.
My blog and my articles are no investment recommendation. Cryptocurrencies are extremely volatile and risky. Do your own research!