Did you know that you can earn from your USDT stash? USDT is one of the most stable coins available. If you’re new to crypto coins and stable coins, don’t worry. This guide will delve deeper into cryptocurrencies and stable coins and share tips on how you can earn a tether interest rate.
So, what are stable coins? Stablecoins are like a new version of cryptocurrency whose rates are fixed to a crypto coin or fiat currency. As their name suggests, they offer a more stable option for the crypto coin or exchange-commodity they are linked to.
Why Tether (USDT)?
There are plenty of stable coins on the crypto market. However, most traders opt for the USDT. USDT is a token issued by Tether Limited. The currencies are pegged to the USD. According to Tether Limited, the USDT is financed 1:1 by the USD. The usdt interest offered on most exchange platforms averages over 12% per annum.
The value of the USDT matches that of the USD, and Bitcoin prices don’t influence it. However, USDT works on Bitcoin’s blockchain script as a second-tier currency. The layer on which USDT works is known as the Omni Layer. It is also available on Ethereum’s blockchain as an ECR20 token.
Some crypto exchanges and digital wallets such as YouHodler support both the USDT and ECR20 tokens. Therefore, you can easily earn the usdt interest rate from your YouHodler account.
USDT Savings Account
Having a USDT savings account means you can access a plethora of services. For example, most crypto wallets allow users to access usdt lending services. You also get a variety of ways to profit from your digital assets. Using your crypto savings account, you can enjoy low-risk investments with high yields.
First, YouHodler helps to earn cryptocurrency. How does this work? YouHodler allows you to leverage your crypto savings to earn more crypto coins. You can place your crypto asset as collateral for a fiat loan and then use the loan to buy more crypto coins.
The usdt apy available on YouHodler is quite something. Ideally, you can earn up to 12.7% interest annually from your crypto savings on YouHodler. We bet no regular bank offers such high-interest rates from your savings account. What’s better is that you can easily withdraw your interest earnings at any time.
Other Ways to Earn Interest on Crypto
USDT interest and tether apy aren’t the only means to earn interest on crypto. There are plenty of stable coins you can choose from. For example, you can gain interest from Binance coin, XRP, Dash, and even Bitcoin.
Investing in crypto coins can be an excellent way to earn some passive income. However, always do your research before investing. Not all coins perform well in the crypto market. Also keep in mind that this is not a get-rich-quick scheme.
Online crypto forums can help you learn a lot about stable coins. You will also get information on how to run your trades from the exchange accounts.