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With Central Bankers Punishing Savers, Crypto Holders Are Earning Higher APYs Just By Hodling

3y ago•
Coinpedia
bullish:

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With global interest rates trending near record lows and likely here to stay for the foreseeable future, the funds carefully saved and squirreled away in savings accounts are likely doing nothing besides gathering dust. Fortunately, crypto is the knight in shining armor rescuing savers. As more and more people enter the crypto ecosystem, there has been a surge in demand for passive income opportunities using cryptocurrencies. Other than generating returns from trading, enthusiasts are looking for alternative options to expand their portfolios. As such, the emergence of decentralized finance (DeFi) has opened the gateways for users to generate returns by leveraging assets they already own. From staking to yield farming, there is no shortage of opportunities for eager crypto enthusiasts. While some require moderate to advanced knowledge of blockchain technology and DeFi, some are simpler than the existing traditional financial solutions. That said, here are some tried and tested platforms that make it easy for everyone to generate additional income without any hassle. Grow Your Portfolio Via Reef Staking Reef Finance delivers a cross-chain DeFi ecosystem that is designed with user accessibility in mind. Users unfamiliar with decentralized finance can depend on Reef to automate many processes that may seem complicated, like yield farming. Moreover, the platform’s AI tools deliver asset management that takes into account investor preferences, their risk profile, and return goals. Built with Substrate, Reef supports DeFi protocols across several blockchains such as Aave, Uniswap, Synthetix, and Compound, among others, allowing users to leverage interoperability and cross-chain trading features. Users can get involved with smart borrowing and lending, mining, staking, and other activities - all of which generate passive income. The platform originally launched a staking pool, Binance Launchpool, in partnership with Binance, where users can stake their BNB, BUSD, and DOT tokens over 30 days into separate pools to farm REEF tokens. In the meantime, Reef Finance is continuously adding more features to its platform, the latest being its partnership with Klever, one of the largest global exchanges serving over 3 million users across over 200 countries. With this partnership, Klever not only becomes the first external validator for Reef Finance, but it will also offer the only liquidity bridge for REEF holders, enabling them to exchange REEF through its Klever Swap service and to stake these exchanged tokens via its wallet. As a result, users will gain the opportunity to increase their earnings from holdings. Moreover, the partnership between Klever and Reef Finance will ensure that users from both platforms access the highest yield generating opportunities across an array of digital assets. Earn Additional Returns With CoinZoom Earn CoinZoom, one of the largest and highly regulated exchanges serving over 192 countries, has rolled out the CoinZoom Earn feature, empowering users to earn up to 20% APY on select cryptocurrencies and fiat holdings. The platform already offers several crypto-centric products, such as its remittance service ZoomMe, the range of CoinZoom Visa debit cards, and CoinZoom Commerce, among others. With the addition of CoinZoom Earn, the platform has unveiled its newest investment tool that allows users to earn interest on over 40 cryptocurrencies like AAVE, BTC, BAL, ADA. ENJ, DASH, MATIC, MKR, XTZ, and more, stablecoins like USDT and USDC, and fiat deposits (USD only). As of now, CoinZoom users can earn up to 10% APY, and CoinZoom VIP customers can earn an additional 20% bonus interest on top of the APY. Getting started with CoinZoom Earn is straightforward. If you’re already a CoinZoom user, simply opt for the CoinZoom Earn feature to earn interest immediately. Interest is accrued daily and credited to users’ Earn wallets on the seventh day of every month. Besides no long-term deposit commitments, users are free to redeem the interest earned from their Earn wallet anytime, reinvest them in their CoinZoom Trading account, or spend them via CoinZoom Visa cards to earn additional rewards. The Market’s Highest APYs Via AAX’s Crypto Savings Accounts AAX, the first crypto exchange to join London Stock Exchange Group's 'Partner Platform and be powered by LSEG Technology's Millennium Exchange matching engine, is currently offering the highest interest rates on crypto holdings. The platform already supports several crypto-centric features, including P2P trading, Futures trading, DeFi Mining, and several ongoing promotions. With its newest Savings feature, AAX has started offering both fixed and flexible savings options with varying interest rates for its users. As of now, AAX is offering the highest interest rates for crypto savings accounts, up to 60% APY across 80+ cryptocurrencies. Compared to crypto savings accounts offered by other platforms, AAX has kept its requirements extremely flexible, allowing users to choose between varying deposit durations, ranging between 7, 14, 30, 60, 90, 180, and 365 days. With so many passive income opportunities up for grabs, now is the time to decide if you just want to HODL your cryptocurrencies waiting for a drastic market change or start leveraging the solutions as mentioned above to expand your portfolio further. Or you can always just watch your central bankers gradually erode all your hard-earned savings. The choice is yours!

The post With Central Bankers Punishing Savers, Crypto Holders Are Earning Higher APYs Just By Hodling appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

With global interest rates trending near record lows and likely here to stay for the foreseeable future, the funds carefully saved and squirreled away in savings accounts are likely doing nothing besides gathering dust. Fortunately, crypto is the knight in shining armor rescuing savers. As more and more people enter the crypto ecosystem, there has …

3y ago•
Coinpedia
bullish:

1

bearish:

0

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