It all began with a manifesto titled ”Bitcoin”: A Peer-to-Peer Electronic Cash System” on bitcoin.org on 31 October 2008! A noble rebellion by Satoshi Nakamoto (a mysterious and pseudonymous person or persons) who sees the black holes in the financial system and offers to create a whole new ecosystem based on libertarianism and decentralization. In this new era, there are no rooms for intermediaries and regulatory authorities. Just simple transactions with lower fees in the speed of light.
However, just like all new revolutions in human history, skeptical eyes turned on crypto coins and they were criticized harshly for being a Ponzi scheme that investors’ funds would melt away sooner or later. It was expected that superior authorities such as ministries of economy, banks and conservative investors would light their torches at first, but what we did not know was the great rise of Bitcoin and other cryptocurrencies against all these obstacles in a blink of an eye. Today, crypto assets have irreversibly alternated into something else. A philosophy of decentralization and the chance to be invisible in where every single transaction blinks just like a caution lamp. Anonymity!
The mighty Bitcoin is transferred on a peer-to-peer network, Blockchain whereas other cryptocurrency networks can differ from one coin to another token. The sector is a massive one which expands day by day. What makes the cryptocurrency market so popular? The answer is instability! Yes! Although the volatility of digital assets looks risky at first sight, we would like to underline the fact “Risk = Profit” when it comes to commodities. Whilst the market value of a crypto coin passes through depreciation and appreciation called bubbles and busts, investors can open sale orders or buying orders. The profit margin can be quite advantageous whereas if you succeed to take the pulse of the market and feel the aftershocks. In such a dynamic market, there are thousands of services you may utilize. One of them is opening a crypto interest account.
What is a Crypto Interest Account?
In a nutshell, it is possible to define a crypto interest account as a service offering investors to earn interest on crypto assets. Actually, the principle of these accounts are not apples and oranges compared to how savings accounts work at banks: Simply load an amount of Bitcoins or altcoins and you will retake the amount with an additional interest which was agreed mutually.
How to Open a Crypto Interest Account
There is a plethora of crypto wallets and crypto exchange platforms serving interest accounts for cryptocurrencies for those who are not interested in trading daily. The interest rate may vary from one facility to another whereas the average rates are closer to 0.50% annual percentage yield. Please note that it is crucial to read the Terms and Conditions with extra caution not to have misunderstandings about end-dates, minimum and maximum withdrawals amounts or insurances. There are two main crypto interest account types: Flexible Terms and Fixed Terms. Flexible-term accounts enable investors to withdraw their assets whenever they want. On the other hand, Fixed-term accounts will not allow you to cash out once your interest account is activated. Thus, considering the high volatility of Bitcoin, altcoins, and stable coins, investors must choose the proper option for their assets.
All in all, crypto interest accounts provide a great chance to earn some extra. However, we always recommend you utilize a trustworthy platform so as not to have catastrophic disappointments. Read client reviews, talk to customer support, dig for best conditions and interest rates. No matter which coin you choose to lend at interest, simply take your time before locking your valuable funds for a period.
