Blockchain Interest

So, I've got some money on Blockchain as USD PAX which has a constant value
So I decided to put 50% of them into the Interest account, since it gives 12% interest.
The question is, are there any risks? Should I transfer the other half to earn interest too or are there any risks in that thing that I should keep the other half with me? Since the amount in Interest account isn't backed up and is under full control by Blockchain

Thanks.

Short answer: there is negligible risks involved, as the money that you provided are given to the validators who validate transactions in the blockchain. In return of the liquidity which you provided, you get an award of 12% as interest. Sometimes, what might happen is, very rare tho, these validators might shut down and you might lose all your money that you staked to that validator. This is the reason why, i distribute my money to many validators so that even if one shut, there would be the rest. I staked my funds in the AKT token, they have a 60% yearly return rate.

Or if you want to play safe, you can stake your crypto money in Travala (AVA). You have zero risks involved there with 12% annual rate and another 12% as travel credits!

Originally Posted by Luffy

So, I've got some money on Blockchain as USD PAX which has a constant value
So I decided to put 50% of them into the Interest account, since it gives 12% interest.
The question is, are there any risks? Should I transfer the other half to earn interest too or are there any risks in that thing that I should keep the other half with me? Since the amount in Interest account isn't backed up and is under full control by Blockchain

Thanks.

You stored the PAX where? Saying "blockchain" is like saying you stored your money in the "bank". Too general.

Ignore the second reply, he is shilling AKT which is unrelated to your question.

Originally Posted by ez2189376

You stored the PAX where? Saying "blockchain" is like saying you stored your money in the "bank". Too general.

Ignore the second reply, he is shilling AKT which is unrelated to your question.

Blockchain.com is what I meant

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Originally Posted by D.Variable

Short answer: there is negligible risks involved, as the money that you provided are given to the validators who validate transactions in the blockchain. In return of the liquidity which you provided, you get an award of 12% as interest. Sometimes, what might happen is, very rare tho, these validators might shut down and you might lose all your money that you staked to that validator. This is the reason why, i distribute my money to many validators so that even if one shut, there would be the rest. I staked my funds in the AKT token, they have a 60% yearly return rate.

Or if you want to play safe, you can stake your crypto money in Travala (AVA). You have zero risks involved there with 12% annual rate and another 12% as travel credits!

Do you think Blockchain.com would shutdown in any near future?

nah they wont. even if they do, they will give you a notice to withdraw your funds.

don't use blockchain wallet. like all other web wallets. pretty easy to withdraw all fund from it without your knowledge. use cold wallets with 2fa and write down mnemonic somewhere. hate blockchain

Originally Posted by PayPalKing

don't use blockchain wallet. like all other web wallets. pretty easy to withdraw all fund from it without your knowledge. use cold wallets with 2fa and write down mnemonic somewhere. hate blockchain

Yeah got the same thing told lately by some people, can you name some trusted wallets that have 2FA? planning on stopping using blockchain but 0 idea what else to switch to

I'm using electrum only for btc. exodus noob friendly and have all altcoins. but to choose fees need to go in dev mode

Originally Posted by PayPalKing

I'm using electrum only for btc. exodus noob friendly and have all altcoins. but to choose fees need to go in dev mode

Thanks. So the desktop/mobile applications wallets of those two are safe and reduce the risks of web wallets?

yes. wallet.dat still can be "cracked" but only if you catch a stealer. but still they are much safer then web wallets.

Blockchain Interest

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