Getting income in cryptocurrency is most often associated with trading. This scares off those who want to earn their savings since not everyone is ready to dive into the foreign exchange market and regularly make risky transactions. For such people, passive income will be more reliable and profitable, which does not require special knowledge of digital assets and the laws of change in their value.
High interest on cryptocurrency deposits
You can consistently earn interest on your initial capital through regular investments on the stock exchange. You can open a high interest savings account on the CoinDepo platform. Stablecoins are best suited for this, the value of which is much less susceptible to change due to volatility. It is proposed to earn from 12% to 24% per annum and additionally receive compound interest. At the investor’s request, they can be accrued every day, weekly or monthly.
This technology is in many ways reminiscent of term savings accounts in a regular bank, but with a more solid income, which is significantly higher than the inflation rate and rapidly increases depending on the duration of the deposit. Moreover, invested assets generate profit, being insured, and the client has the right to replenish his account or close his funds at any time.
Other ways to get high interest: staking and crypto lending
You can earn a decent increase in cryptocurrency through staking. This process involves blocking the investor’s assets and using them to validate transactions in the blockchain system. In return, the owner of the assets receives regular payments from the financial platform.
Cryptocurrency lending is in many ways similar to traditional loans and involves placing funds on the exchange to issue loans on the terms of collateral to other registered users. To guarantee the security of investments, the borrower must demonstrate their solvency and have a cryptocurrency balance on their balance that is no less than the amount requested as a loan.
In terms of reliability, staking looks preferable because it has only one weak point – the blockchain. Additionally, lending implies vulnerability in the form of decentralized applications that can be subject to cyberattacks. At the same time, staking does not require collateral and can be more profitable compared to loans issued on platforms that support conservative interest accrual trends.
How to increase the percentage of profit in cryptocurrency
Some investors are so keen on earning in cryptocurrency that they begin to regularly move their investments from one exchange to another. However, not all platforms provide services for free and the commission factor should be taken into account. After all, because of them, assets are irretrievably lost when making deposits and receiving payments.
In any case, passive income is not a method that is used for instant enrichment. Solid profits must be planned for the long term. Instead of regularly searching for the most profitable solutions, it is better to give preference to CoinDepo or another reliable platform with a positive image.
The best way to earn money in cryptocurrency due to high interest rates depends mainly on how risk-averse the investor is. Here you need to take into account a simple dependence. It lies in the higher security of investments on terms that seem feasible.