How to earn interest on cryptocurrencies
Earning interest on cryptocurrencies is now possible thanks to the special functions that exchanges like TruBit Pro offer to all users. Learn how and where to do it, as well as all the advantages and disadvantages of crypto interest.
How does cryptocurrency interest work?
Do you remember the beginning of cryptocurrencies? You could make money with them, but this was basically limited to trading, i.e. buying a digital currency, waiting for it to rise in price and then selling it. Obviously you had to take into account several factors such as taxes to be paid and the commissions charged by cryptocurrency exchanges, not to mention that prices are so volatile that you can win or lose in a matter of seconds.
But with the evolution that the Blockchain has been having, the ways to start earning in cryptocurrencies have been increasing. One of the most popular nowadays is earning interest in crypto, as it is usually such an easy process that we can say you earn money without doing anything, even while you sleep.
The process is very similar to what happens in traditional banking, as your cryptocurrencies have to be deposited or transferred to some tool to start earning interest. The only difference is that the crypto world programs are more transparent and you have full control of the earnings and investments, and you will control the terms, even being able to withdraw your coins when required.
One of the main features of the programs to earn interest with cryptocurrencies is that you will be able to choose among the digital currencies that are available. But keep in mind that you will have different options of annual interest and terms.
Basically, cryptocurrency interest works similarly on exchanges like Trubit Pro:
- Buy your cryptocurrencies to appear in your Wallet.
- Choose an amount you want to place in the interest section.
- Select the term or product you want to contract.
- Start earning interest.
Where to earn interest on cryptocurrencies
Cryptocurrency exchanges have products for earning interest on crypto, and TruBit is no exception. The program is called TruBit Earn+ and offers fixed or flexible term products specially designed for all users to earn interest in cryptocurrencies in a safe and very simple way. These are its main features:
- Selection of high-quality products that earn high interest rates, all from the TruBit mobile app and TruBit Pro.
- Up to 16% APY (20% in Wallet), beating most traditional exchanges' annual fees.
- Frequent promotions where even the annual interest rate can increase up to 32%.
- Fixed and flexible terms so you can choose the best product for your needs.
- You can choose to win interest in Bitcoin, Ethereum, MMXN or USDT.
How to earn interest in Cryptocurrencies with TruBit Earn+
If you want to earn interest in Cryptocurrencies, TruBit Earn+ is one of the best options to do so, as we combine the best interest rates in the market with low-risk products to largely avoid losses. But before we tell you how to do it, you have to choose between our 2 investment terms:
- Flexible Term: if you choose a flexible term Earn+, you will be able to withdraw your earnings when you require it, without having to wait for the product to end.
- Fixed Term: you choose a period for your Earn+ (7 days, 1 month, etc) and you will not be able to withdraw your earnings until the end of the contracted term.
Now that you know the terms of interest to earn cryptocurrencies, you can use TruBit Earn+, and you do it in the following way:
- Download the TruBit Pro app or the TruBit Wallet app.
- Create your TruBit account (one and the same for both apps) and don't forget to perform and pass the KYC verification process.
- On the main page of the applications, you will see the 'Earn+' banner.
- If you access from TruBit Pro, you will see all available programs sorted by cryptocurrency, term and duration.
- Read all the program terms and information and confirm the activation of the Earn+.
- The status of your Earn+ product can be viewed from 'balance' in the Earn+ section.
- If you access from TruBit Wallet, the process is much simpler, as you only need to activate Earn+ for all your assets (USDT, ETH, MMXN and BTC) to start earning interest (earnings are deposited daily at 00:00 local time).
Pros and cons of earning interest on cryptocurrencies
One of the best ways to earn interest on cryptocurrencies is TruBit Gana+. If you are about to invest with us, know all the pros and cons:
✅ Pros about earning interest on cryptocurrencies.
- It is the safest way to earn with your cryptocurrencies, as losses are greatly reduced.
- You earn money while you are asleep! You don't have to do anything, as the interest is generated on its own.
- It is one of the best ways to start investing in cryptocurrencies, since it is not necessary to have a lot of knowledge about trading.
- You can withdraw your earnings daily (only in Flexible Term).
❌ Cons about earning interest on cryptocurrencies
- The percentage of profit is relatively low compared to traditional trading.
- You must invest a large amount of cryptocurrencies to get good profits.
- The performance of your product depends on the cryptocurrency you invest in. If for some reason the crypto loses a lot of value, you can lose even your invested money (for example, what happened with Terra Luna).
FAQs about earning interest on Cryptocurrencies
What is APY?
APY, for short, stands for 'Annual Percentage Yield'. This indicates the interest you can earn on principal over a period of 1 year (365 days). The APY rate can vary depending on the supply and demand of the cryptocurrency, so you may see it increase or decrease every so often.
Is there a risk in investing in cryptocurrencies to earn interest?
There is always a risk when dealing with cryptocurrencies, as they are assets that can be volatile and are subject to price fluctuations. This means that there is always a risk in investing, so as a client you have to always use the capital you are willing to invest.
Is it safe to earn interest in crypto?
Yes. It is one of the safest ways to earn money with your cryptocurrencies, as the earnings are transparent and you will be able to use them once they are fully credited to your account.
How much can I earn with cryptocurrency interests?
The amount varies greatly depending on the amount of cryptocurrencies you want to invest, the APY of the program you want and the term you chose.
How long does it take to earn interest on cryptocurrencies?
Your cryptocurrencies will generate interest daily (if you choose a flexible term, you will be able to withdraw them every 24 hours). But it is always advisable to wait until the term you contract is fulfilled to see the best results.