Bitcoin Cash is taking some presence in this community lately. Probably you’ve heard about NoiseCash or ReadCash. Well, I didn’t earn a dime in ReadCash yet but I earned around 5€ worth BCH with Noise.
If you are like me and you are using one of these platforms then you will have a pile of BCH in your wallet, and probably, a pile of questions in your head. But the main question is the one you read in the title.
Let me be honest, Bitcoin Cash is not an Ethereum token, neither is Bitcoin but a hard fork of it. Therefore, the investment opportunities with this currency are kinda limited. We have seen unlimited forms of earnings in Hive and Ethereum but in this case, we have a small number of choices.
Celsius offers a good 4.51% interest rate over BCH. This means that at the current rate, for each BHC deposited in the platform we will get 0.05 BCH per year or 0.00096 per week.
Also, you can make the choice to be paid in CEL, the Celsius ERC-20 token, instead of Bitcoin Cash in the case you want to swap for another token or sell it.
Nexo is similar, there are a few differences with Celsius. One of them is the interest rate, which is slightly higher, we are talking about 5% but there’s a loyal system where interest could increase to 6%.
And here is the second one, in Nexo you can take the option to get paid in NEXO. This token will reward you with an additional 2% interest that added to the loyal system, it makes a total of 8% for your BCH, not bad. Also, if you hold this token you will be able to receive dividends from Nexo, maybe you think this could be interesting.
Binance is probably the most known exchange for cryptocurrency but is not the best rewarding in terms of Bitcoin Cash. The only option is flexible saving which yields 0.25% APY.
However, we have the option to trade BCH for another coin like BTC or BNB. There is no need to hold BCH for a 4.5-8 interest rate, maybe you think there are other better options. So, change your BCH for another token could not be a bad idea.