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03 March 2021

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets – Finance Bitcoin News

Crypto Earning vs. Savings Accounts: How You Can Get Up to 17% Annually Holding Digital Assets – Finance Bitcoin News


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While financial incumbents are giving people with savings accounts a measly 0.35% to 0.60%, digital currencies can give people 1-17% or even more by leveraging certain tactics.

The more money held, the more interest an account will get but these days banks don’t like giving interest.

A lot of centralized exchanges offer anywhere between 1-12% in interest for staking or holding a digital asset on the trading platform for a period of time.

A 30-day term with Crypto.com gets the person 4.5% for the average crypto asset, while stablecoins will get up to 10%.

Most of these platforms offer higher percentage rates for stablecoins, as fiat-backed crypto assets can get savers larger returns.

Staking involves using a proof-of-stake (PoS) crypto asset and the person needs a staking wallet to perform this function (validating transactions) in order to obtain stake.

Similar to a savings account, staking simply means holding the asset and being rewarded coins for the amount the user holds.

Additionally, besides staking, people who want to acquire yield-bearing returns on their crypto assets can do so by leveraging a decentralized finance (defi) application.

What do you think about all the platforms and services that allow people to make passive income just by storing their crypto assets

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