How to Earn Interest on your Cryptocurrencies

How to Earn Interest on your Cryptocurrencies

By tabul8tor | tabul8tor | 11 Dec 2019


Maker Dai Savings Rate

0*gG_wkQ0sR3t2MA5r

Image Source: MakerDao

From 18 November 2019 onwards, holders of Multi-Collateral Dai, can automatically earn interest on their Dai stablecoin by locking their Dai into a Dai Savings Rate (DSR) contract. The DSR is free and available to any Dai holder through Oasis Save. Locked Dai is under the user’s total and independent control. To stop receiving the DSR, users simply withdraw their Dai. Unlike the crypto-lending platforms described below, users’ Dai is not loaned out.

 

Crypto-Lending Platforms

Are you currently storing your cryptocurrencies in a non-interest bearing wallet? You might want to check out some crypto lending platforms which pay you interest for supplying them with cryptocurrencies. Some of the bigger players and their prevailing interest rates (as at 10 December 2019) are TABUL8TED below.

1*MK9tdfKvZplW2gsD7ksNUA.png

Do note that the service these platforms provide is the lending out of your cryptocurrencies. So it is more akin to P2P/P2B lending platforms in the non-crypto world than interest-bearing savings or fixed-deposit accounts. Traditional P2P/P2B lending platforms are high-risk investments in and of themselves. Placing your cryptocurrencies with the above-mentioned crypto-lending platforms is even risker as most of them are not regulated by financial regulators.

Enjoyed this post?

  1. TIP👏, SHARE🤲 & FOLLOW👣
  2. READ MORE:

***Disclaimer: This post is for informational purposes only and does not constitute a recommendation to buy cryptocurrencies or use any of the above mentioned service providers. Please do your own due diligence before taking any action.


tabul8tor
tabul8tor

TABUL8TOR Distills Thoughts into Digestible Tables and writes about #FinTech #BlockChain & #Crypto. Main Site: www.tabul8tor.com Twitter: https://twitter.com/tabul8tor Medium: https://medium.com/@tabul8tor


tabul8tor
tabul8tor

TABUL8TOR Distills Thoughts into Digestible Tables and writes about #FinTech #BlockChain & #Crypto. Main Site: www.tabul8tor.com Twitter: https://twitter.com/tabul8tor Medium: https://medium.com/@tabul8tor

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.