Cryptocurrency: How Bitcoin Earns Interest

Gone are the days when gold was the haven in terms of inflation. While gold still retains high value, Bitcoin has replaced it as the new digital gold. Investors are turning to Bitcoin as a better hedge against inflation. That’s because Bitcoin has high value and tends to be more resistant to inflationary forces. If you want to trade with a trusted platform, then you can go for bitqt

Many Bitcoin investors today only focus on how their investment will generate returns through a price rise. Bitcoin prices keep changing, and investors hope that after they buy Bitcoin, the value will surge later, and then they can sell them at a profit. This strategy has led to many people making millions and even billions.

But like in every investment, focusing on only one line of return is risky. Just like the prices of Bitcoin can rise, making Bitcoin investors make a profit when they sell their Bitcoin, the values can also drop, causing them to lose. Therefore, it is wise to diversify and look into how Bitcoin can generate more returns. That is where earning interest comes in.

This article explains how you can earn interest on Bitcoin.

Opening An Interest Account

Earning interest in Bitcoin requires that you open an interest-earning account. You can use several platforms to do this. Usually, opening an interest-earning account on any of these platforms will be like opening a bank account. You will earn interest on your savings in your bank account.

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However, you must operate it like a savings account to earn interest on Bitcoin. And this means that the more you keep your Bitcoins in the interest account, the more interest you will make. Moreover, the more Bitcoins you have in the crypto account, the more interest you will earn.

So, what are some of the best platforms to open an interest-earning account and earn interest on Bitcoin? Here are a few.

Aqru

Aqru is among the best platforms to earn interest on Bitcoin. With Aqru, you can get an APY of up to 7% without doing anything. Just open an account and deposit Bitcoin. The platform pays interest daily, which is good, especially if you are not sure about trusting the platform.

Binance

Binance is one of the most popular players in the crypto trading environment. Besides providing other crypto services, Binance is a crypto interest platform that allows you to open a crypto savings account. The most significant advantage of Binance is its flexibility. And this means that you can withdraw your funds whenever you like.

Nexo

Nexo is another flexible interest account. It is highly rated, showing that it is highly trusted. With Nexo, you can earn interest at an APY of up to 8%. With Nexo’s flexibility, you don’t have to worry about locking your interest earnings for a certain period. You can withdraw at any time you feel like it.

Crypto.com

Crypto.com has an excellent reputation in the crypto exchange and trading business. With its interest account, you can earn as much as 6% on your Bitcoin. However, Crypto.com is not very flexible and ideal for someone not in a hurry to make money. Luckily, it provides you with a range of lock-up terms with different levels of interest rates. You can also access loans and other crypto exchange services on the platform.

Conclusion

You can earn interest on Bitcoin by opening an interest-earning account with a good platform. Before making your choice, please do your research first to understand each venue well, including the terms.