Crypto owners usually look to benefit from any increases in the prices of their coins — which allows them to reap impressive returns, However, they can also earn good yields from crypto by depositing their digital assets with various exchanges. The idea of depositing cryptos into interest-earning accounts seems to be gaining popularity and private investors, as well as institutions, now view this as a better way to invest than traditional savings accounts from banks. Traditional accounts now pay little interest — sometimes as low as 1% or less.
However, the interest that can be earned from crypto saving accounts is quite impressive, for example, the recent announcement regarding the Coinbase USDC interest rate of 4% annualized which is not even the best USDC yield available. Some providers offer even better rates, for example, Celsius, has been advertising an annualized percentage yield of 8.88% on USDC deposits. There is also YouHodler which could earn you 12% APR plus compound interest if you allow your interest to remain in the account.
While most cryptocurrencies have very volatile prices that change erratically, there are also digital coins referred to as stablecoins. As their name suggests, stablecoins are “stable” because they are backed by real assets like US dollars or gold. USD Coin is the second-largest stable coin globally after Tether and it’s backed by real US dollars kept in a bank. Because you can redeem a USDC for one USD at any time, this keeps its price stable, hence it’s referred to as a stablecoin.
Earning interest in USDC
So, how could you get some free USD coins by taking advantage of the USDC interest rate offered by various crypto lending platforms? The way an interest-bearing crypto account works is similar to an ordinary savings account. You need to find the platform offering the best USDC APY and deposit your USD coins with it.
Luckily, you can easily find the crypto exchange that pays the best interest on USDC by checking information available online from the websites of the various exchanges. You can also get information from review sites and other sources. Once you find the platform with the best USDC interest rate, you deposit your USDC and after the agreed period they pay you interest in USDC and you can withdraw it or let it remain there to earn compound interest.
Reasons to choose YouHodler to benefit from USDC interest rate
Although there are many platforms where you can reap great gains from USDC interest rates, YouHodler is among the best options. The reasons you should consider YouHodler include:
· Pays higher USDC interest rate than most exchanges — with YouHodler, you could get up to 12% APY on your USD coins. This interest rate is one of the best in the market and is way above what traditional savings accounts pay on deposits.
· Pays interest weekly with no fees — the platform deposits the whole of the USDC interest into the users’ savings account and the depositor can withdraw them or retain the interest to earn compound interest on the coins.
· Guarantees security of your assets — YouHodler has put measures in place to secure your deposits with them including holding the coins in a mixture of hot and cold wallets
You can benefit when you choose a platform that offers exceptional USDC interest rates and deposit your USD coins there to get free USDC and build your wealth. However, choose trustworthy and secure platforms to avoid losing your funds through hacking or defaulting by the borrowers if the exchange has no proper lending measures in place.