If you are the type of cryptocurrency investor who is long-term oriented, then you should consider earning interest on your digital assets.
Through the utilization of cryptocurrency platforms, you can use your crypto holdings to earn interest, and in turn, give yourself an additional, passive income stream, which will compound your profits assuming the cryptocurrency markets continue to appreciate in value.
Today, we will be going a bit deeper into the world of crypto exchanges and hopefully show you some of the best options you have in this regard.
Top 5 Best Exchanges to earn interest on your Crypto
In this list, you will find the top 5 cryptocurrency exchanges through which you can earn interest with your cryptocurrency portfolio.
Kraken is a cryptocurrency exchange founded in 2011, making it one of the oldest and most-established offerings on this list. It offers cryptocurrency spot, margin, and futures trading, and it is based in the US. On offer, users can pick from a variety of hundreds of cryptocurrency tokens, and it supports a wide range of FIAT currencies as well.
Through staking coins on Kraken, users can earn rewards on the platform. All they have to do is buy assets or fund their account with eligible assets for staking, select the asset in question and earn rewards.
Binance is one of the largest cryptocurrency exchanges, which offers hundreds of tokens for investors. It was founded in 2017 and supports a wide range of FIAT currencies as well. The main point of appeal for this platform for users who want to earn interest is the Binance Earn offering, which is a portfolio of cryptocurrency products specifically designed to provide users with passive income on their idle assets. Users can start saving, staking, or start becoming liquidity providers in DeFi markets as a means of earning passive income.
Crypto.com is a huge cryptocurrency exchange that offers an excellent mobile application and Crypto earn functionalities, alongside a plethora of different deposit options. It has a native cryptocurrency token, and when the Crypto.com Coin (CRO) coin is utilized, users can get additional benefits. Its earn platform, however, allows users to receive a weekly payout and earn interest. The app showcases how much a user’s staked coin was worth at the time of the payout, and this can go up to 14.5% per year.
Celsius is a cryptocurrency lending application that is available on just about any device and offers high-interest rates on savings accounts, alongside loan rates that are generally lower than traditional alternatives. The main point of appeal is that Celsius can let users earn up to 17% APY by keeping their digital assets deposited with Celsius, and this is spread across many cryptocurrencies, including stablecoins, and there is no minimum balance or fees to earn on your crypto deposit.
BlockFi is a cryptocurrency exchange wallet intended to assist individuals and businesses on a global scale that offers an interest-earning account, portfolio-backed loans, and fee-free trading. Users can earn up to 9.5% APY in Crypto with a BlockFi Interest Account (BIA).
What is the best exchange to earn interest on Crypto?
The best exchange through which you can earn interest on your Crypto is Kraken, due to the fact that it has an offering known as Kraken Earn, which lets you stake coins and FIAT and maximize your holdings as a result. Once you have staked your assets, you can earn staking rewards on top of your holdings, which would grow further by compounding the future rewards.
Crypto exchanges that pay interest on your Crypto
You can earn interest on your crypto holdings through Kraken, Binance, Crypto.com, Celsius, and Block Fi. These platforms will let you earn interest by creating interest-bearing accounts, which will pay you in the cryptocurrency you funded your account with. These have interest rates that differ based on which type of cryptocurrency you have chosen.
Hopefully, now you know about some of the best options out there you have in regards to exchanges that let you earn interest on your cryptocurrency holdings. Through the utilization of these platforms, you will be on your way towards creating yet another passive income stream where you can leverage the power of the blockchain and cryptocurrencies as much as possible. The rest is left for you to decide.