Choosing the best place to earn interest on crypto is extremely important. After all, a crypto app is where you store your money and, basically, build the investment future.
If you are in the quest for a convenient and secure app, with the aid of which you can earn interest on Ethereum, Decimal, Cardano, and other crypto coins, check the top platforms listed below.
In this in-depth guide, we will shed the light on different aspects of the crypto app consideration such as safety, yields, supported coins, fees, pay-out frequency, ease of use, reputation, customer support, and more. The purpose behind it is to help you find the best crypto wallet to earn interest that will make you the most money in the long run.
Are you excited to know where to earn interest on crypto? Let’s dive into details right away!
How to earn interest on crypto?
No matter whether you are a long-term seriously-oriented cryptocurrency investor or a complete beginner, you should certainly consider earning interest on your digital assets.
Depending on the way of earning, those who invest in crypto can gain an income of around $111,000 per year. (Gemini) You simply choose what works for you, be it something riskier and faster or rather more predictable and stable, and let your profits compound in a wallet.
Now, let’s explore different ways how to earn interest on crypto.
Best ways to earn interest on crypto
Try staking your crypto
Crypto staking is the second-best option you have at your disposal to earn free crypto.
Essentially, staking is the process of locking up your crypto in a wallet and earning interest from that. By pledging a particular coin you become a validator of new blocks on specific blockchains.
It is the best way to earn interest on crypto as it requires minimum effort and budget. Obviously, the more you stake, the more likely your profits will be higher. But other than that, it is very easy to take up and earn from.
Participate in educational courses
Completing educational resources is an amusing way of earning more about crypto. Moreover, many educational courses are available for free, which is a great bonus.
Usually, they consist of tutorials, assignments, and video explanations. Upon the course completion, you receive a reward. With this method, you can acquire different coins depending on the tasks you complete and utilize them for other purposes, for example, trading, exchanging, or staking.
However, don’t set your expectations high as you won’t make the fortune with educational programs. It’s mostly for those who are passionate to know more about cryptocurrency.
Stay updated on airdrops
Airdropping is a common way to earn some free crypto prizes. To put it simply, a crypto airdrop is the distribution of tokens to crypto enthusiasts who have supported a specific launched project.
Thanks to it, new crypto projects gather the attention of a larger community, so it works as a marketing stunt.
All you have to do to earn crypto rewards is to stay updated on when airdrops take place and where to look for them. Then, you will be requested to complete a simple task, for instance, posting tweets, sharing posts on Instagram and Facebook, speaking out in Discord groups, and signing up for different newsletters.
Essential steps to earn interest on cryptocurrency
Create a crypto account
“How to earn interest on cryptocurrency?” is probably the most daunting question, but we’ve got you covered. To start earning on APY, you’ll need to have an account on a platform that offers a service of interest earning on your crypto holdings.
What is APY in crypto? APY is referred to as the annual percentage yield. Simply put, it is the rate of crypto earning interest.
Compare interest rates
Then, to pick the cryptocurrency that will bring you the most money in the long run, it is critical to compare interest rates.
Depending on the platform you are using the rewards system and interest rates may vary, even if you invest with the same cryptocurrency.
Fund your account with cryptocurrencies
Many crypto platforms, like Coinbase, MyCointainer, BlockFi, Crypto.com make it very simple to add the desirable cryptocurrency to your account. You can buy tokens directly from your bank, transfer them from another wallet, or purchase them from the platform's exchange.
Once you are done with the previous step, your crypto portfolio will be gradually growing.
Best places to earn interest on crypto
Crypto.com appeals to crypto investors with an extensive number of supported tokens and coins. Thus, they don't need to switch between the apps and work with crypto directly in one space.
You can calculate your rewards in a matter of seconds and make a determined decision. Just select a token, amount, CRO stake, and term and get a crypto earning forecast.
Coinbase is incredibly famous for its Coinbase Earn program, which allows you to earn passive income through discovering how specific cryptocurrencies work — and get a bit of each crypto to try out for yourself.
For instance, at the moment you can learn the basics about Amp (AMP), Chain (XCN), Near Protocol (NEAR), Project Galaxy (Gal), or The Graph (GRT) and earn around $3 of each cryptocurrency.
It is undeniably the best platform to earn interest on crypto when it comes to staking. The app offers a number of coins that utilize the “Proof of Stake” consensus mechanism, the highest earning yields in the market as well as very flexible staking periods. You can opt for staking Decimal (DEL) or BitcoinPoS (BPS) with 101,4% and 70% of APY respectively.
The versatile MyCointainer platform is not limited by cold staking. It comprises multiple earning apps, such as hot staking, airdrops, cashback, exchange, and more.
How to earn interest on crypto MyCointainer?
To earn interest on crypto MyCointainer you need to freeze crypto in a wallet. For that, you need to hold the tokens specifically meant for stalking.
So, the first step is to buy or transfer coins to your MyCointainer wallet. The second thing to do is to delegate your coins to the platform node. Finally, sit, relax, and watch your rewards grow daily.
If you own some cryptocurrency and it generally sits idle, you can put it to work for a certain timeframe. After conducting thorough research on the platforms and ways of earning rewards, you are good to go.
Again, earning through investments is all about testing the waters. Once you try out a couple of methods and go through all the ebbs and flows, you will be able to identify what suits you most.