Maryann Posted April 4 Share Posted April 4 Earlier today, I checked my Binance app to check my USDT I stored in the Savings I realised that the APR has reduced to 7.5%. I thought maybe is a general issue, then I went to my Bitget to check as I also have some USDT stored in their Flexible savings and realised is still at 15% So I want to know if this happens occasionally or there's a reason for the sudden reduction. Mind you, this is my first time using USDT savings to store my USDT. Link to comment Share on other sites More sharing options...
Aurora.. Posted April 5 Share Posted April 5 Yeah, it's pretty normal for interest rates on these crypto savings accounts to go up and down. Binance dropped yours to 7.5%, but you noticed Bitget is still at a high 15% for their USDT savings. Bitget likely has that higher rate to attract more customers and USDT deposits onto their platform. They're probably willing to pay out more interest to grow their user base and USDT liquidity pool. Platforms will adjust rates based on their own business needs and what rates they think will stay competitive. These savings rates float, so you gotta keep an eye out. If locking in a real high rate is super important to you, maybe look at fixed lending options instead. But those have their own risks too. Let me know if any other questions! Link to comment Share on other sites More sharing options...
Rahul verma Posted April 5 Share Posted April 5 Higher interest rates tend to attract foreign investment, increasing the demand for and value of the home country's currency. Conversely, lower interest rates tend to be unattractive for foreign investment and decrease the currency's relative value. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now