How to Earn Interest on Crypto Savings Accounts?

Crypto investors can earn interest through crypto lending by finding a cryptocurrency exchange or DApp that offers an account. crypto interest.

The cryptocurrency industry has provided developers and investors with the opportunity to introduce new financial tools that offer many options for earning passive income. The simple act of holding crypto has offered patient investors the opportunity to make gains over the years. However, there are various other ways to increase stacks of crypto assets, even in bear markets.

Besides staking, crypto savings accounts allow retail investors to accumulate their funds by earning interest on the crypto assets they deposit in specific cryptocurrency platforms if they agree to lend their coins or tokens. Crypto interest accounts are particularly attractive as they distribute much higher returns than traditional bank savings accounts, given that the average interest rate charged by a crypto savings account can be as high as 7.5%. compared to 0.06% on average for bank savings accounts.

Related: DeFi Staking: A Beginner's Guide to Proof-of-Stake (PoS) Coins

The rate difference between crypto accounts and traditional savings accounts is quite significant, but comes with higher risks associated with the service. Here we will find out how to access crypto savings accounts, crypto interest rates and deposit conditions and the risks associated with this type of financial instrument.

A crypto interest account is typically a service of a DeFi platform that allows you to earn interest on digital assets that you have deposited and agreed to lend out in exchange for a return. This service is similar...