Imagine earning 17.94% per year on an investment that isn’t affected by fluctuations against the dollar! Venus on BSC is paying up to 17.94% APY on BUSD.
Earning with stablecoins is virtually the least risky way to gain money on crypto. Venus, a project on the Binance Smart Chain, is paying out 17.94% APY for those staking BUSD, a stablecoin native to the BSC network.
Venus Offers Highest Returns on BUSD
Stablecoins are used to help fight volatility when trading against riskier pairs but some investors are using them as a hedge to earn within the cryptosphere without putting themselves at too much risk. BUSD is one of those stablecoins used to earn interests as high as 17.94%.
Venus is a project native to the BSC network and as of the moment, it is paying out the highest APY on the BUSD stablecoin. There are two other notable mentions on the list with Qubit giving out 15.67% APY and Klend giving out 14.58% APY on BUSD.
Venus TVL at $2.74 Billion
As per BscProject on Twitter, Venus, Qubit, and Klend are the top 3 projects offering the best BUSD rewards. One question investors might have, however, is how much risk are they placing themselves when earning this amount of returns on BUSD?
For one, both Venus and Qubit are actually number 2 and 3 respectively on the top projects in BSC DeFi based on TVL. As of the moment, Venus bags in a whopping $2.74 billion TVL while Qubit comes in third place with $2.67 billion in TVL.
Investing with Stablecoins
The two projects aren’t as far as expected from each other with only a $70 million difference. Since there are billions invested in both Venus and Qubit, it would take a large number of investors pulling out their investments to affect the project drastically.
The 17.94% that Venus offers, however, might actually change in the future should the TVL of the project drop drastically. If a number of investors pull out at the same time, Venus might not be able to sustain its massive 17.94% APY.
The good news is that of course, since investors are dealing with stablecoins, they can edge themselves against price fluctuation. Although they won’t be able to benefit from price increase, they will also not sustain losses as the BUSD is mirrored after the fiat US dollar.
Investing into stablecoins is actually one of the best ways to get crypto exposure without sustaining most of the risk. Although it is ideal to maximize gains by minimizing risks, this is not the standard in the world of investment.
Venus offers the highest returns on BUSD as of the moment but this could potentially change in the future. For investors that want to invest in stablecoins, there are platforms that offer fixed and flexible returns on other stablecoins aside from BUSD.