Maker Dai Savings Rate
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.
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.
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.
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***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.