Making a profit from your investments in cryptocurrency is good, but making a profit on your cryptocurrency while earning interest on your cryptocurrency is even better.
More and more cryptocurrency platforms are offering to pay you interest paid in the cryptocurrency that you have standing by them. These interest rates vary based on which cryptocurrency you have standing by them and which platform you choose.
HODL your cryptocurrency and start earning interest on them now:
How does it work?
The business model is very simple and in short, the sites offer that you can borrow cryptocurrency and pay interest - or you can lend your cryptocurrency and earn interest.
By having your cryptocurrency standing on a loan platform, you then give the opportunity to generate interest by lending cryptocurrency to the partners with whom they enter into an agreement on a loan.
A large part of the interest that the site earns by lending cryptocurrency, you then get paid as a profit for having your cryptocurrency with them.
As I said, interest rates vary among the different cryptocurrencies and sides. But in addition, it also varies how often you get your interest paid. On some sites, payments are made on a daily basis, others on a weekly or monthly basis.
Below is a review of 2 of the most recognized and secure crypto interest rate sites:
BlockFi
BlockFi is one of the biggest players in the market when it comes to crypto interest rate sites. They are backed by some of the leading companies in the industry, such as Coinbase, Gemini and Winklevoss Capital. They are known for having a very simple and manageable platform that at the same time maintains some of the highest security in the market and offers good interest rates.
Pros:
High interest rates on Bitcoin and Ethereum: Up to 5% interest rates on Bitcoin and Ethereum, as well as 5.5% interest rates on Litecoin. In addition, above average interest rates on altcoins and stablecoins.
Highest interest rate security: When you deposit your cryptocurrency into BlockFi, your cryptocurrency is stored securely using Gemini, which is a fully authorized and insured repository
Low trading fees. BlockFi has low fees on trading / convert if you want to trade the cryptocurrencies that you have on their side.
Cons:
Limited amount of cryptocurrencies. BlockFi offers interest rates on BTC, ETH, LTC, LINK, PAX, USDT, PAXG, BUSD and USDT.
Lower interest rates if you have a lot of cryptocurrency. BlockFi's interest rates for BTC and ETH will be much lower if you have a lot of cryptocurrency left (over 0.5 Bitcoin and over 15 Ethereum)
Payment of interest:
Monthly payment in your chosen currency (you can choose between all the 9 they have on their site)
Your interest is automatically paid to your wallet, and the amount of your crypto then becomes larger - and you accumulate more and more crypto.
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https://blockfi.com/?ref=7d4d792b
Celsius Network
Pros:
Largest selection of cryptocurrencies: Celsius offers interest rates on over 25 different cryptocurrencies
Completely transparent company: Statistics and data are publicly available. So you can look back and see what interest people have been getting every week since the start of the site
Free deposit and withdrawal: Celsius has no fees for payment and deposit of crypto
Cons:
Limited to mobile: Celsius only works as a mobile app
Highest interest rates require payment in CEL Token: To get the highest interest rates on Celsius, you must keep a quantity of CEL tokens in your wallet
Payment of interest:
Weekly payment of your interest
Just like on BlockFi, your interest is automatically paid to your wallet, and the amount of your crypto becomes larger - and you accumulate more and more crypto
Sign up Bonus: Get $ 40 free Bitcoin by depositing $ 400 or more crypto when creating using this code: 1638436aa1
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https://celsiusnetwork.app.link/1638436aa1
