Best way to earn interest on crypto
Hello Friends,
When it comes to investing in cryptocurrencies, most people tend to overlook the importance of interest. After all, cryptocurrency is meant to be an alternative to traditional banking services. But this doesn’t mean that you’re forced to let your savings sit idle forever. In fact, there are ways in which you can earn extra money from your crypto investments. For example, by setting up a savings account (*Of sorts) and leaving it untouched for a while, you can effectively increase the amount of interest that your balance accrues.
Lets talk about this.
What is interest?
It is important that you first know what interest is. Iterest is a charge for the use of borrowed money, typically expressed as a percentage of the total amount borrowed. The interest rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.
How to earn interest on crypto?
There are a few different ways to earn interest on crypto. One way is to put your crypto into a savings account that offers interest on your balance. Another way is to lend your crypto to someone else in exchange for interest payments. You can also earn interest on crypto by staking your coins in a proof-of-stake network.
Best stablecoin
Cryptocurrencies are volatile assets, with their prices fluctuating every now and then. This means that you have to be cautious, when you decide to park your money in a stablecoin. Stablecoins are currencies that are pegged to the US dollar or another stable currency. This means that you can store them safely with the expectation of their value not falling as much as the volatile cryptocurrencies.
While there are numerous stablecoins on the market, there are a few that stand out. One of the best is USDCoin (USDC).
Or, if you are on HIVE, the HBD token is a decent choice as well as it offers a 20% APY return!
Why HBD savings
Lets talk Hive...
Hive.io is a social media platform that allows users to earn cryptocurrency by posting and curating content. The Hive blockchain is a fork of the Steem blockchain, and uses the same Delegated Proof of Stake (DPoS) consensus model. Hive.io has a number of features that make it an attractive platform for users who want to earn cryptocurrency. First, all content on the Hive blockchain is owned by the user who created it. This means that users can earn rewards from their content without having to worry about losing control of their content.
Lets Talk HBD
There are many different ways to earn rewards with cryptocurrency, and one popular method is through hive-backed dallars (HBD) and putting them into a saving account.
HBD is a stablecoin that is pegged to the value of the US dollar, and it can be used to purchase goods and services on the Hive blockchain. When you hold HBD in your account, you earn interest on your balance (20.00% APR at the time of writing this). The interest rate is set by the Hive community, and it is paid out in HBD. HBD can be traded on many exchanges, and it is an important part of the Hive ecosystem.
The below image is of the HBD token over 1 year. The price has, for the most part, stayed next to the $1 mark.
If you want to learn more about the Best Way To Earn Interest On Crypto, follow that link for additional reading on the topic!
Conclusion
Investing in cryptocurrencies sounds like a great idea, but there are certain things you have to keep in mind before parting with your money. One of the most important things you have to consider is how you’re going to earn interest on your money. If you’re looking for the best way to earn interest on your crypto holdings, you can’t get better than HBD savings. With this, you can get 20.00% APR, and have relative peace of mind with its value staying around the same.
What are your thoughts on Stable tokens?
- Do you make use of Stable tokens?
- Do you use the HBD savings?
- What advice do you have for others?
Cheers and Thanks for reading
Disclaimer
The information presented is for educational purposes only and is not to be considered investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don't invest more than what you can afford to lose. I make no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in the information or any sites linked to or from this document for future material.
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