Did you read the rules so well? Because that’s not how it is, it is simply a single month promotional campaign after one month the rewards are reported back to the usual reward. And you also need to understand that they made mention of APY which I think the 6.5% will most probably be divided in to 12 months (0.54% monthly).

The usual APY is 3.5% which means regularly you earn just 0.29% monthly by holding usdc. So take for instance the idea of leaving $10k usdc in a centralized exchange only to earn $650 in this monthly promotion and overall $350 in the regular APY, this just accumulates to less than $1k reward in a year.

This is such a huge risk because aside leaving your funds on exchange I would have probably have made profit by simply holding bitcoin in my personal wallet or at worst in bearish market period have my bitcoin in my wallet.

So the risk always outweighs the profit. Personally I don’t like staking on exchanges

It is just marketing.
People should not let the exchange use market to attract them.
6.5% monthly means 78% APR which is not possible.
The exchange is legit. If truly not phishing know that it is just for a short period of time.
It can not be for a long period of time.

Re-read,

He actually said that if you have $10K worth of BTC then risking $500 per month would be good, instead of putting it all in Coinbase.
He didn't say that it would be 6.5% gross per month.

In here 6.5% is the annual interest rate

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@OP, not your keys, not your coins. The rest is ultimately a personal choice.

What's the point of putting $500 for 6.5% gain? And keep in mind that it's an annual rate, no one is going to give you 6.5% profit monthly, which means that your monthly profit will be 0.54%, i.e. you'll earn $2.7 per month with $500 deposit. Actually, if you want to earn something meaningful, you have to deposit $10,000 and even more.

This is not a good way of making money though. 6.5 APY is a very bad APY. If you have a small amount of money, it doesn't worth it and if you have a big amount of money, then you better start a business that generates higher APY than 6.5%.

I wouldn't take it too seriously, it's something that I've done on Binance exchange in the past, I don't know if anyone can remember this, Binance was giving similar offers via stable coins on their exchange years back.

I made some percentage on the locked USDT at the time and I felt at ease with this risk because it's just one month before the unlock, and everything went well,.

This is nothing but some type of promotion and if you have to do always risk small money, but it seems OP got it wrong since that picture never said hold Bitcoin on the exchange to make more Bitcoin, it's actually USDC

Oh no, sorry. Very bad.

It's against the policy " Not your key, not your crypto ".

Why so desperate to earn 0,54%/month by just holding on an exchange while you can trade and earn at least 1% with a DEX? At least you will not become a potential victim of an exchange cause is being hacked, and you still have a fully control of your assets.

No thanks!

Some people just keep money in fiat banks and inflation eats them up. So earning $2.7 per month with $500 is better than earning nothing. There are some banks that offers better deals in my country.  I wouldn't risk my money in centralized platform for such a poor interest. Banks are insured by deposit insurance corporation which means you can get you money bank even if the banks goes bankrupt. Some of these exchanges are not even registered in my country making it risky. Not your keys not your coins

Just to be clear, this offer is not available for everyone. And you need to be a Capital One member of Coinbase. So there is a monthly membership fee and you need to be active.



https://help.coinbase.com/en/coinbase/other-topics/coinbase-one/account?query=coinbase%20one%20member

And this is the countries or regions that are allowed and eligible,



https://help.coinbase.com/en/coinbase/coinbase-staking/rewards/usd-coin-rewards-faq

This is not as good as it seems.
If you will read the full terms, it says that the APY is 6.5% not per month. The minimum additional deposit is $1000 USDC, and you can choose to receive your reward in BTC on a weekly basis.

If you have $1000 in USDC, annual earning is $65 per year, roughly $5.42 per month. And since the reward for staking is paid out on a qeekly basis, that's only $1.35 per week for every $1000 in staking.

They just made the post to be more attractive. Also, you have to consider risking your USDC in a centralized exchange to receive that small return. It's not worth it.