Image from Pixabay modified with Canva
Let's be honest, we would all like the cryptocurrencies we have acquired to increase not only in value, but also in quantity. In other words, we would like to earn profit or interest on them. And yes, the truth is that it is quite possible and simple to earn interest on Bitcoin or cryptocurrencies, although it is not a risk-free process.
Globally, it is normal for people to be wary of depositing Bitcoin or other cryptocurrencies on centralized platforms, especially after the great fiascos of 2022. Worse, even if we wanted to take the risk, we Cubans do not have access to the platforms that give us these interest-generating functionalities.
However, on the Internet, for every great solution that is denied to us, there is an alternative. And it is about these other options to earn interest on Bitcoin or cryptocurrencies that I am going to tell you today. Pay close attention!
Alternatives to earn interest on Bitcoin and cryptocurrencies
The options that I will present below to earn interest on Bitcoin or cryptocurrencies, I use them personally, so when I present each platform I will explain the risks you can run. This way you will be able to make an informed decision on whether or not to use them.
Screenshot modified with Paint
It is a platform that this year celebrates 1 decade since it was launched (2013) maintaining a good reputation among its users. It started as a faucet (a feature it still maintains), but has incorporated features such as betting, DICE game, lottery and passive income system.
Precisely the passive income system is the one that will allow you to earn interest with your satoshis.
The truth is that it is quite simple, you only need to maintain on the platform a minimum balance of 30 thousand satoshis (0.0003 BTC) which in turn is the minimum extraction of the platform. By doing so you will generate a daily interest of 0.0109589% (4.08% per annum).
It may not seem much to you, but I doubt that there is another reliable option that Cubans can access that offers a higher interest rate for Bitcoin deposits. And you can also withdraw whenever you want, without blocking periods or anything like that. Of course, it is still a centralized platform.
In case you want even higher annual returns this platform also gives you the option to earn up to 25%. But in this case you will have to deposit or convert your satoshis into FUN tokens. By locking these tokens on the platform for a period that can range from 15 days to 360 days you will get a return of between 5% and 25% per year. The risk is that FUN token does not have the forward strength and traction of Bitcoin and may lose value against it.
Attention! You must be very careful with the link you access as malicious people have tried to clone the page with similar addresses. To register on the correct site to earn interest on Bitcoin use the following link: Freebitcoin
Image from banners of Faucetpay
FaucetPay is a microwallet with no minimum deposit and quite low withdrawal fees. It has very interesting functionalities (API access, multiply games, internal exchange, etc.), but the one that comes to the point is the Staking option.
It is a reliable platform, it is active since 2019 and, in addition, despite having suffered a hack in their hot wallets with the consequent loss of funds users were not affected. The platform assumed all the losses and backed up the balance of the clients.
This platform allows you to Staking the feyorra token (FEY) with a return of up to 24% per year. The lock-in period is 80 days so you will have to wait that long to get access to your funds. If you are concerned about convertibility, Faucetpay makes this option easy for you as in its internal swap you can exchange FEY tokens for up to 13 cryptocurrencies (including BTC, ETH, BCH, LTC) and vice versa.
To register and earn interest on crypto I recommend you to use this link: FaucetPay
Image from Hive Stock Images
Yes, maybe all of us at Hive know about this option, but for those who don't know about this social blockchain here is the explanation.
Hive is a Blockchain with its own cryptocurrencies (Hive and Hive Backed Dollar [HBD]), it is also open source and a social network. Well, this ecosystem allows you to lock in HBD savings by remunerating you with an annual APR of 20% (you receive the corresponding interest every month). The main advantage is that HBD is a stable cryptocurrency anchored to the value of the dollar, so you will have security in the stability of your earnings.
To learn more about HBD: https://hive.io/hbd
To join Hive: Ecency
4- Trust wallet
This wallet allows you to staking from it with at least 8 cryptocurrencies obtaining yields ranging from 21.92% (Osmosis) to 4.1% (Tron). Obviously you cannot be guided only by the APR percentages, you must also value elements such as: stability or strength of the cryptocurrency and blocking time of the tokens.The main advantage is that in this case it is not a centralized platform, having the private keys the custody and responsibility over the tokens is all yours.Link to the app: https://trustwallet.com/
It is always good to grow our capital, so I hope these four options I have given you will help you achieve that goal. Analyze well the strengths and risk of each one of them and choose the one that makes you feel better. You could also use them all together, so you distribute the risk.
Remember on the internet there is always an alternative to the main solutions and these are the best you can find to earn interest on Bitcoin or cryptocurrencies.
Originaly posted on Hive