Staking Binance vs Kraken

By Goodsoul | Crypto Picks | 28 Nov 2020

The reason I am writing this Article on staking at Kraken and Binance is that I do not trust any of the other platforms or exchanges.

The hacks of this month of November show that your assets are not safe on some dubious Defi Platforms.

Harvest Finance was hacked on the 11th of November for $24 million. The attacker targeted the protocol's liquidity pools,
Pickle Finance loses half it's worth through a hack just last Friday
Value Defi was hacked for 6 million on November 14th
The list could be continued as bitcoin.com reports that more than 100 million Us Dollar were already stolen this year.

Now the question arises why I trust my money centralised exchanges like Kraken.com and Binance.com

I have had some issues transfering money by sepa from my bank account to kraken.com.They solved my issue in a very polite and surprisingly fast manner.

Binance customer support seems to take ages but I just feel that they are too big to fail.

As kraken.com offers only a very limited number of staking assets I will base my comparison on them.

Kraken.com

Polkadot yearly reward 12%

Cosmos yearly reward 7%

Tezos yearly reward 6%

Bitcoin yearly reward 0.25% (off chain)

Binance.com

Polkadot yearly reward 32.75% (locked 14 days)

Cosmos yearly reward 7.35 (locked for 30 days) and 9.36 (locked for 60 days)

Tezos not offered

Bitcoin yearly reward 0.81% (off chain)