Are you looking forward to getting as much USDC interest as possible from your USDC savings? Well, you are not alone. Unlike a bank, which offers lower interest rates, many crypto savings platforms give up to 12% APY on USDC.
To successfully earn USDC interest, you need to buy USDC and deposit it into your platform account. That said, let us dive right into how to get the most USDC interest from crypto savings platforms.
What Is USDC Interest?
Before you choose an appropriate platform to use, it is prudent to understand what USDC interest is all about. These are proceeds coming from your savings that are calculated using a carefully designed formula. The amount of interest you will earn is often given as an annual percentage yield.
Just like a bank gives interest when you save, crypto platforms also give interest on coins that you save. USDC earnings are high because the value of stablecoins like USDC hardly fluctuates, unlike the value of Bitcoin and Altcoins. No wonder, earning USDC interest is a lucrative income opportunity.
What Do You Need to Earn USDC Interest?
· Crypto savings platform account – All crypto interest platforms require you to sign up to get a wallet and start saving. This is also the account you will use to receive your interest once it is due.
· USDC – As mentioned, your platform account must have USDC coins to start earning interest. You can either transfer from your private digital wallet or buy USDC directly on the platform using the integrated exchange.
What Are the Popular Crypto Savings Platforms?
· YouHodler – If you have saved crypto before, you are probably familiar with YouHodler. The interest rates for USDC go as high as 12.3% APY. Since it is compound interest, investors start to earn the moment they save. Additionally, you can top up your account or withdraw the coins at any time. However, you must wait a week to withdraw your interest.
· Nexo – Nexo is equally popular with a USDC interest rate of 12% APY. To get a clear picture of what you will get for the time you want to save, use the USDC coin interest calculator on their platform. Likewise, this crypto savings account gives compound interest to investors. The best part is that Nexo pays out interest every day.
· Hodlnaut – Just like any other HODLing account, getting a Hodlnaut account allows you to earn up to 10.5% APY on USDC. So, if you are looking for a lucrative opportunity to earn interest on USDC, try this platform, and you will not regret it. They make weekly payouts and allow investors to access their savings to top up or withdraw at any time.
· Binance – Would you like to earn USD coin from Binance? Try the new crypto savings product introduced by this crypto giant to earn up to 14.8% APY through the locked saving option. The major drawback of this option is that you cannot access your USDC until the indicated days have passed.
Everyone would like to earn USDC interest with ease when given an opportunity. The above insights highlight important things to know before exploring this lucrative investment. They will help you to make well-informed decisions.