How to use stablecoins to earn a higher APY
Platforms are offering investors several opportunities to earn from stablecoins, some of which extend far beyond cryptocurrency lending. Many are quick to flock to stablecoins for their ability to de-risk cryptocurrency positions. A stablecoin can be pegged to any perceivably stable asset, for instance, a digital asset like Bitcoin (BTC) or a fiat currency like the US dollar. In theory, if a digital asset was pegged to the US dollar, $100 worth of the digital currency should mean $100 in the backed asset is held in a secure reserve like a bank account. Stablecoins are broad in utility;....
Related News
Multicoin Capital’s co-founder says a new law could redraw how Americans keep and earn on their cash, and banks may feel the heat. Tushar Jain said the GENIUS Act could mark “the beginning of the end” of low interest for everyday savers, offering an opening for stablecoins and tech firms to compete for deposits. Related […]
Stablecoins allow investors to stay on the sidelines and earn passively on their holdings, but not all stablecoins are created equal. Cryptocurrencies are well-known for being volatile assets, which means that experienced traders have plenty of opportunities in the space. Investors can expect to be taken on a wild ride if they plan on holding for a long time.Stablecoins, a class of cryptocurrencies that offers investors price stability pegged to the value of fiat currencies, offer investors a safe haven when market turbulence hits but may represent missed opportunities over time.Speaking....
Zac Prince, BlockFi’s CEO, said his company paid out 450 BTC, 5,000 ETH and $6 million in stablecoins last month. Crypto lending firm BlockFi posted another record-breaking month in February, paying out over $35 million in interest to its clients. The interest payments were comprised of 450 Bitcoin (BTC), 5,000 Ether (ETH) and $6 million in stablecoins, CEO Zac Prince said. Another record breaking month of interest payments for @BlockFi clients in Feb. Over 35M in interest paid including: >450 #btc >5,000 #eth >6M in stablecoins Thank you and let’s keep going! — Zac Prince....
Swyftx, one of Australia's largest crypto exchanges, has become the first local exchange to offer users zero-fee yields on cryptocurrency deposits. Swyftx exchange will begin offering interest-bearing yields on a wide range of cryptocurrency assets — the first Australian-operated crypto exchange to do so.Swyftx’s new product, called Earn, will offer Australian and New Zealand residents the ability to earn interest on 21 different digital assets, including large-cap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA) and stablecoins like Tether (USDT) and USD....
Interest rates in lending out stablecoins remain higher than those offered in traditional finance markets in the US. This is why the decentralized finance market has seen so much success in the past year. Investment options that would normally be the go-to choice for investors in the country are returning less interest, so the move […]