Cryptocurrency holders can earn much more than the increase in the capital value of their assets they gain when they sell their assets at a higher price than they bought them at. If you are in the crypto trade for the long haul, you should consider how you can earn free crypto as interest on your digital coins.
You could earn interest on your crypto if you deposit the asset into one of the interest-earning accounts operated by various exchanges. This way, you can grow your wealth by earning a passive income and you could compound your gains if the crypto market continues to appreciate.
Understanding crypto interest
So, how can you earn interest on Bitcoin — or any other cryptocurrency for that matter? You need to open a crypto savings account with a reliable platform such as YouHodler. After depositing your digital currencies, you earn interest at the end of the defined period, which can be weekly, or monthly, and so on.
The premise of a crypto-interest-bearing account is similar to that of a conventional savings account, but the significant difference is that crypto accounts offer higher interest rates than ordinary cash savings accounts. In addition, a crypto interest account may have weekly interest payouts, where you get funds in your wallet, and you can withdraw your assets anytime.
Reasons to choose YouHodler to earn crypto interest
In a market with many players offering crypto interest-earning accounts, you may feel overwhelmed when you are trying to choose a platform to earn crypto interest. However, you do not have to get confused about choosing a reliable exchange to open a crypto savings account.
YouHodler is the most reliable and trusted platform to earn crypto interest and enjoy excellent returns and first-class service. Below are some of the reasons to choose YouHodler as your platform for getting free crypto on your digital assets deposits:
- The exchange pays interest on several cryptocurrencies, allowing you to choose the coins you prefer. You can earn crypto interest on coins such as BTC, PAXG, TUSD, USDC, ETH, XRP, BNB, and many more. The good news is that if you do not have any of the cryptocurrencies you want to deposit to earn crypto interest, you can convert your fiat currencies or other digital coins to that cryptocurrency.
- YouHodler is a secure platform that has implemented various security measures to safeguard its depositors’ assets. For example, none of the assets are stored in hot wallets and they have implemented other measures too.
- Depositors or users who have savings accounts can use their deposits as collateral for credit products. This gives them more chances of multiplying their wealth.
- The platform offers impressive interest rates with about 5% interest on altcoins and around 12% interest on stablecoins such as TUSD, USDC and others.
Benefits of earning crypto interest
It would be good idea to think about earning crypto interest because of the following benefits:
- Your interest grows with increase in the value of your assets
- The lock-up time for your assets is low or none for some platforms.
- Low or no minimum amount to open crypto savings accounts
Cons of crypto interest accounts
Some of the cons of earning interest on cryptos include
- Lack of regulation in the industry which exposes depositors to scams.
- Depreciation of your crypto’s value means a fall in interest and principal amount.
Conclusion
It would be a great idea to consider earning crypto interest instead of keeping your assets idle. This way, you can grow your wealth and enjoy other benefits of interest-bearing accounts. However, take precautions to avoid losing your assets.
