Interest rates are paid by banks to incentivize people to deposit their money in their banks. This amount saved is used by banks for their growth and profit purpose. While interest rates are paid on a contractual basis (monthly, quarterly yearly, etc) and are fixed, rewards may not be high. Rewards for staking are not fixed. They depend on the network’s protocol, the amount staked, the number of stakers, the frequency with which the blocks are generated and other factors.
One of the main benefits of staking than saving in a bank is that staking is a reward awarded by the network in return for helping it grow and secure the network. The more the security, the more is the decentralization, the higher is the value of the cryptocurrency. Moreover, banks keep a commission or part of the benefit it receives from using your money. CoinDCX transfers the entire benefits to the users who stake using our platform. While banks charge an early withdrawal penalty for withdrawing the deposits before its maturity, we allow for complete freedom on your funds.
