Besides buying and holding onto crypto before selling it at a higher price than they bought it in order to make a profit, investors can earn income from keeping the coins in interest-earning crypto saving accounts. The investor or traders need to identify the best crypto savings account for them and then deposit their cryptocurrencies in that account. If you are new to crypto, this is a convenient and arguably better way to earn from the coins instead of holding your digital assets and waiting for their prices to increase. All you need to do is deposit those digital currencies such as Bitcoin, USD Coin, and others into a crypto wallet with interest. After that, you will earn weekly interest payments which vary from one coin to another and from one platform to another.
What you need to do to earn crypto interest
If you wonder how you can earn on your crypto, then we need to look into how to earn interest from depositing your crypto coins and altcoins into interest-earning savings accounts. For easy understanding, theoretically, a crypto savings account operates in the same way as a regular savings account does. You only need to deposit your altcoin or Bitcoin into the various crypto wallets that earn interest. Some have no limits on the amounts you can deposit and no defined lockup period.
After depositing your cryptocurrencies into a savings account, you will receive compound interest on your assets and receive periodic payouts (monthly, weekly, and so on). In addition, you enjoy the benefit of the flexibility to withdraw your funds at any time you want. However, some savings accounts allow you to deposit for up to 90 days, while others have no limit for the deposit duration.
So, are you wondering which is the best crypto savings account, with which you can earn crypto interest? Well, look no further because you can
earn crypto interest on your YouHodler account. YouHodler is the best exchange and offers impressive interest rates on various coins, for example, 4.8% on BTC, 8.2% on PXG, and 5.5% on ETH. Besides, you receive your interest payouts every week in cryptos or stablecoins. What’s more, you can also take a loan against your cryptos or stablecoins savings, so you get cash without liquidating your assets.
How to earn interest on stablecoins
The main difference between stablecoins and crypto coins is that stablecoins are not volatile in value, as is the case with cryptocurrencies. This is because the prices of stablecoins are tied to the value of fiat currencies such as the US dollar so that 1 unit of a stablecoin, e.g., USDT, is equal to 1 USD. The prices of these assets may also track the prices of stable commodities such as gold, as is the case with PAXG.
If you are looking to know how to earn interest on stablecoins, the procedure is not so different from the one for cryptos. You need to deposit your stablecoins with a crypto lending platform such as YouHodler, into an interest-earning savings account and start receiving your interest payouts as per the platform’s terms and conditions.
You can earn crypto interest by depositing your crypto assets into reliable interest-earning savings accounts with various crypto lending platforms, such as YouHodler and BlockFi. This is an excellent way to get your digital currencies to work for you, instead of holding them as you wait for them to appreciate and sell on to make a profit.