Looking to earn fixed income via crypto? Here are 5 major platforms

Be the First to Comment Read

Looking to earn fixed income via crypto? Here are 5 major platforms

crypto interest accounts in Australia
Image source: © Hello6373 | Megapixl.com

Highlights

  • Earning interest with crypto savings accounts works much in the same way as a traditional certificate of deposit. Depositing tokens into a crypto savings account is rewarded by a rate of interest.
  • Aqru is a user-friendly platform and supports a range of assets – all of which offer a solid annual percentage yield (APY).
  • BlockFi has a good reputation for being one of the safest crypto savings account providers.

Over the last two years throughout the pandemic, many have made money by investing in cryptocurrencies. However, the past several months have seen most of the digital tokens fall amid expectations of interest rate hikes in the US as inflation has risen to multi-year highs.hese factors have pushed investors to search for more passive ways of earning from the crypto space.

One way to do this is earning interest from a crypto savings account. This works much in the same way as a traditional certificate of deposit, whereby depositing tokens into a crypto savings account is rewarded by a rate of interest.

Worth mentioning here is that given the high volatility shown by cryptocurrencies over the last few years and their recent price performance, the possible capital erosion in cryptocurrencies can exceed the interest earned from crypto savings accounts.

There are lot of options to choose from, so here are five of the top crypto savings accounts available.

Aqru 

Aqru is a user-friendly platform that supports a range of assets – all of which offer a solid annual percentage yield (APY).

This includes 7% per year on Bitcoin and Ethereum deposits - one of the best rates in the market. Aqru also offers more stability for stablecoins, with a yield of 12% per year.

Aqru provides a lot of flexibility as interest accounts on the Aqru platform come without a minimum redemption period.

Crypto.com

Crypto.com is one of the best savings accounts for generating interest on stablecoins. For the uninitiated, stablecoins are cryptos pegged to a fiat currency like the US dollar, rendering volatility non-existent.

Crypto.com savings accounts provide higher APY, if you agree to a longer lock-up period and a minimum number of tokens.

Looking to earn fixed income via crypto? Here are the three major platforms

BlockFi

BlockFi has a good reputation for being one of the safest crypto savings account providers. Launched in 2017, BlockFi has focused on providing a safe way to earn interest on your crypto investments.

BlockFi claims that a vast majority of client digital funds are kept in cold storage at various locations. Additionally, BlockFi ensures that all users go through an identification process before they can use any of its services.

Binance 

Binance is great for high-interest crypto savings accounts. Right now, a number of digital currencies can be deposited at Binance with interest of over 100% per year.

Binance also supports numerous crypto assets across both large-cap and medium-cap projects, which is great for diversifying crypto-earning objectives.

Additionally, users can choose from a variety of lock-up terms. For example, some tokens can be locked away for 10, 30, 60, or even 90 days. Alternatively, users can also choose a flexible savings account, which means they can withdraw at any time. For instance, a Bitcoin savings account yields 5% per year.

Coinbase

One of the best-known crypto companies, Coinbase is extremely user-friendly and offers one of the strongest security protocols.

Coinbase is now a publicly traded company, which means it’s regulated in the US by the SEC (Securities and Exchange Commission).

In terms of security, users require to go through a two-factor authentication when logging in. Additionally, 98% of client digital assets are kept offline in cold storage, minimising the risk of a heist.

Coinbase is one of the best when it comes to offering a safe and secure way to earn interest on crypto investments.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

Speak your Mind

Featured Articles