Almost everyone has heard the word “cryptocurrency”. Many people have also wondered about the best way to make money from crypto assets. In this article, we will consider how CoinDepo helps its customers ensure their cryptocurrency savings grow.
From Traditional Savings Accounts to Crypto Compound Interest Account
Savings accounts that most traditional financial institutions offer today have long lost their attractiveness. They merely serve as a way to safely store money and reduce losses due to inflation. CoinDepo has changed that as you can invest crypto and earn guaranteed interest income that greatly exceeds what traditional banks offer and some other crypto platforms. So how do you use crypto to earn money?
CoinDepo offers nine of the most popular cryptocurrencies (BTC, ETH, BNB, XRP etc.) and three major stablecoins (USDT, USDC, DAI) for investment. These will be the assets that you deposit on the platform to earn interest on your crypto savings. The platform allows the creation of multiple Compound Interest Accounts for each supported cryptocurrency and stablecoin to give users a chance to diversify their investment portfolio. Some investors like to split their funds between cryptocurrencies and stablecoins to take advantage of crypto price growth and safeguard themselves with stablecoins if the crypto price changes are not favorable.
To further enhance flexibility, CoinDepo offers its clients a chance to pick between six different interest payout periods. Traders often choose “Daily” and earn crypto interest while waiting for the right moment to place an order. Most investors, though, go for longer periods, such as Weekly, Monthly, Quarterly, Semi-annual or Annual to benefit from higher interest rates.
Compound Interest Accounts are considered the best way to earn crypto as they create a snowball effect. As interest earned is reinvested and starts to bring interest income, the effective interest rate (APY) turns out to be notably higher than the stated APR and speeds up the growth of your digital assets.
Today, the interest rates offered by CoinDepo are among the best on the market and allow users to earn up to 18% per annum + compound interest on major cryptocurrencies such as BTC, ETH and others, and up to 24% per annum + compound interest on major stablecoins.
CoinDepo Instant Crypto Loans: Expanding the Opportunities
Crypto earning opportunities do not end with the ability to earn interest on crypto savings. CoinDepo became one of the leading and innovative crypto loans providers. While loans have been brought to the crypto world from the traditional banking system, they do not always look attractive. Why? The fact is that borrowers have to freeze part of their crypto assets in a special collateral account to secure the loan. On CoinDepo, there is no such need.
The service provides instant crypto loans to everyone who deposited funds in Compound Interest Accounts. This means that although the borrower uses the loan for other purposes and ways to earn crypto, the digital assets held in the CoinDepo account continue to earn interest income. The latter is usually enough to cover the interest on the loan and generate additional profit from the interest earned. These features surely set CoinDepo apart from its competitors.
Crypto Credit Cards: Going Beyond Typical Purchases
CoinDepo has another offer that allows crypto holders to earn crypto online. A relatively new service presents crypto credit cards. These can be used just like your regular credit cards with only one difference – you will be provided with a line of credit in crypto assets. The best part is that the user receives up to 8% crypto cashback for each purchase without restrictions on the amount and number of transactions.
The platform does not stop there. Crypto cashback earned is instantly added to your Compound Interest Account balance. This means that the user starts to earn crypto interest on the cashback until it is withdrawn. This presents a great earning opportunity as everyone inevitably spends money one way or another. Being able to return a portion of one’s spending undoubtedly looks attractive.
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Bottom Line: CoinDepo’s Innovative Crypto Earning Diversity and Flexibility
We covered the topics of how to earn interest on crypto with the help of the CoinDepo platform. The high and very competitive interest rates as well as the safety and reliability of the platform attract many crypto holders who are looking for opportunities to earn a regular, guaranteed passive income.
Besides depositing crypto to earn money, users can also take out instant crypto loans. The funds can be withdrawn and used for other opportunities to earn crypto online or to make purchases. To make the latter more convenient, the platform is going to introduce a crypto credit card. Given the widespread acceptance of its credit card and rewarding cashback, this service is also worth consideration.