Earning Passive Income With Crypto
Looking to boost your investment yield while dabbling in the world of cryptocurrency? A crypto savings account could be a way for you to dramatically increase your rate of return. Below you’ll see the top crypto-based savings accounts along with their top advertised yields on various crypto currencies.
Note: These yields are subject to change at anytime. If you notice a difference, please let us know! Contact Us.
KuCoin is a leading cryptocurrency exchange that began in 2017. The company was originally based in Singapore. Currently, KuCoin has its headquarters in Seychelles. KuCoin is one of the most popular global cryptocurrency exchanges, with over 8 million registered users in over 200 countries.
Crypto Lending & Passive Rewards
KuCoin’s primary appeal is that it’s globally-friendly and has a variety of trading tools. But if you want to earn passive income by holding crypto, KuCoin also has several options.
For example, KuCoin lets you lend out over two dozen cryptocurrencies and stablecoins to generate interest on your loan. This is similar to platforms like BlockFi and Celsius that let you deposit your crypto to earn interest.
KuCoin offers 7-, 14-, and 28-day loan terms. You select your required loan-to-value (LTV) ration as well and how much crypto you’re lending. KuCoin’s daily interest rate calculator displays how much you earn, and cryptocurrency lending returns can often surpass 10% or more depending on the asset you’re lending and overall loan risk.
KuCoin launched its own token, KuCoin Shares (KCS) in 2017. This token is a method to reward stakeholders. And the more KCS you own, the more perks you get.
Benefits of holding KCS include:
- Daily Dividends: KCS holders split 50% of daily trading fees on KuCoin.
- Discounts: Get discounts on KuCoin trading fees.
- More Trading Options: KuCoin has additional trading pairs that utilize KCS.
Trading fee discounts are one of the main perks of holding KCS, and you get a 20% discount by paying trading fees with KCS.
With no account minimums, BlockFi is making high yields accessible to many crypto investors. The exceptionally high yield on Bitcoin is intriguing for investors with less than 0.10 Bitcoin (which is likely most investors as even 0.10 Bitcoins is a lot of money).
Investors with more than 0.35 Bitcoin will only yield 0.10%, however. So the more you have, unfortunately, the less you earn.
However, if you have stablecoins (USDC, USDT, BUSD, GUSD), you can earn up to 8.25% on your stablecoins up to 40,000.
Bonus Offer: Get up to $250 bonus when you make a $25 deposit and maintain it for the specified period of time.
Nexo is the world’s most trusted licensed and regulated digital assets institution. With 2M+ customers, the Nexo account is the perfect crypto service for any client.
Nexo boasts minimal lock up times (less than 24 hours), and third-party guarantees of it’s crypto assets. That makes it an appealing option with super high yields on US dollars and some of the highest rates on crypto currencies. Right now, you can get up to 12% on stablecoins and 8% on Bitcoin.
Cake DeFi offers the easiest-to-use and most transparent products and services offering high returns for both beginners and experienced investors. Cake DeFi is registered and operating in Singapore, and fully complies with all regulatory requirements of the Monetary Authority of Singapore.
Bonus Offer: Get $30 worth of DFI when you sign up and make a deposit of $50 or more!
Biswap is a decentralized exchange (DEX) that allows users to exchange BEP20 standard tokens (the latest token standard from Binance Smart Chain), stake tokens to receive rewards.
This is a system operating in the form of an Automated Market Maker (AMM ). This means your trades will not be matched with others using order books. Instead, users will trade with each other by locking their tokens into a liquidity pool.
What is Staking?
Simply put, staking is the process of buying and holding coins with the goal of receiving interest. It is done using a designated wallet on a network that uses the Proof of Stake consensus algorithm or some modification of it. Where staking differs from mining is in the fact that it doesn’t require a powerful machine, nor do you have to invest large sums of money to be competitive.
The more stakers there are in each coin’s blockchain, the higher the decentralization is and as a result, the network becomes more secure and provides equalized opportunities for everyone to earn an income. Some networks are hybrids and have chosen to use both Proof of Work (PoW) and Proof of Stake (PoS) as ways to reach an agreement to further increase speed and security.
What is Stablecoin?
A stablecoin is a cryptocurrency that is meant to limit the volatility that investors experience when using crypto. Stablecoins are usually pegged to another asset with a stable value, but they may also be backed by an algorithm.
Consumers who are looking to buy or sell non-currency goods and services may experience a huge price change during or after the transaction. Stablecoins level the playing field without a need for either party to change back into fiat.
The Best Stablecoins Right Now: Tether (USDT), True USD (TUSD), Paxos Standard (PAX), USD Coin (USDC), Binance USD (BUSD), sUSD, Gemini Dollar (GUSD), Paxos Standard Token (PAX).
What is APY?
APY stands for Annual Percentage Yield. This is the interest rate you get, if you deposit your crypto for 1 year. It also includes compounded interest.
Often APR is used instead. APR stands for Annual Percentage Rate and doesn’t include the compounded interest.
What is a lock-up period?
The lock-up period is the period in which you are not able to withdraw your deposited crypto. The reason for this is, that the providers lend your deposited crypto for a specific period to margin or short traders or to someone who takes a loan. As long as they are lent, they are locked.
Please check the provider details to learn how long your crypto is locked.
In which currency is the interest payed?
Usually crypto interest providers pay the interest in the same currency as the deposited crypto (e.g. BTC deposited = interest payed in BTC). Please check the provider details for this information.
Is the interest rate fixed?
The interest rate is usually only fixed for a specific period. Please check the provider details for this information. Please check the provider details to learn how long the interest rate is fixed.