DeFi MarketShort answer: No. At 1% a day, $1,000 would grow to about $37,800 in a year. No real yield pays like that, and nobody mines USDT. The number on the dashboard is typed in by the operator.
Video transcript
USDT mining at 1% a day? Run the math. Three points. One: at 1% a day compounded, $1,000 becomes about $37,800 in a year. That's our math, at the low end of the 1 to 3% a day the FBI says these scammers promised. Two: no real yield in finance pays like that. Three: nobody mines USDT at all. Tether issues it, and holding it in a wallet can't make more of it. So where does the climbing number on your dashboard come from? The operator types it in. What they really want is the approval you sign when you press join. The FBI counted more than $70 million lost to this scheme by mid-2022. If you can't say where the yield comes from in one sentence, walk away. What daily rate were you offered? Comment below and hit like and subscribe.
More in the USDT scam set
Want the whole story, with what to do if you already clicked? Read Is Crypto Wallet Mining Real? (full guide).
Questions people ask
Is 1% a day a good return?
It is an impossible one. Compounded, 1% a day is about 3,678% a year. Savings accounts, bonds and real staking pay a few percent a year. Anyone promising 1% a day is showing you numbers they typed in.
How do I check a crypto yield offer?
Ask where the yield comes from and get the answer in one sentence: interest from a named borrower, fees from a named market, or staking rewards from a named network. If nobody can say, walk away.