Stablecoin Staking
Do you want to learn about Stablecoin Staking? Are you tired of your bank’s low interest rates? Receive a high interest rate by Staking Stablecoins. If you want to start earning money passively but don’t want to take the risk of investing in stocks or cryptocurrencies, earning interest through Stablecoins might be the solution for you!
What Are Stablecoins?
Stablecoins are always pegged 1:1 to the currency that they represent. For example, 1 USD Coin will always be worth 1 US dollar, and 1 TrueCAD will always be worth 1 Canadian dollar. Essentially, this is keeping your money in digital form and it will not be subject to price volatility.
It is very similar to holding your money in a bank, but instead of it being in a checking or savings account, it is just stored as a Stablecoin cryptocurrency. The major difference, however, is that you can earn a lot of interest on Stablecoins compared to the interest you get from a bank or credit union account.
Staking Stablecoins
Using Celsius To Earn Interest on Stablecoins
Celsius is a cryptocurrency lending platform that allows you to earn interest on a wide variety of cryptocurrencies. It currently provides Stablecoins for US dollars, British Pounds, Australian Dollars, Hong Kong Dollars, and Canadian Dollars. You can currently earn 7.10% interest on Stablecoins on Celsius! All you need is a bank account to connect to Celsius. If you already have an account on a cryptocurrency exchange, you can buy and transfer supported Stablecoins from the exchange to Celsius.
- Earn up to a $50 sign up bonus when you use referral code 109902077a at sign up.
If you plan on only using Celsius on your computer, you must have an account on a cryptocurrency exchange as well because you can’t buy cryptocurrencies directly through the Celsius website. The mobile app allows you to directly buy certain cryptocurrencies.
To start earning interest on your Stablecoins, just buy them directly on the Celsius mobile app or transfer them in from a cryptocurrency exchange. Once the Stablecoin is in your account, you’ll immediately begin earning interest! Rewards are distributed weekly.
USDC | USDT | GUSD | TUSD | TGBP | TAUD | THKD | TCAD | BUSD | ZUSD | PAX
- Click the links for guides on how to stake the cryptocurrency.
Comparing Bank vs Stablecoin Interest Rates
Using Bank of America as an example, most people can only expect 0.01% interest per year on your money. Assuming you are holding $10,000 in your savings account, that’s only $1 extra from interest you will gain.
Using the recommended cryptocurrency exchange for beginners, Coinbase, provides 0.15% interest per year on USD Coins. This is 15x more ($1 vs $15) than Bank of America’s rates and while it still isn’t anything too special, you can see how it can add up if you continue to hold more money. However, this 15x increase in interest from Bank of America to Coinbase pales in comparison to our next example.
Celsius is our recommended platform for earning interest on Stablecoins. It currently provides 7.10% interest per year on most Stablecoins, including USD Coins. Using the same $10,000 example, you will receive an extra $1,002 at the end of the year assuming the rates stay the same the whole year.
As you can see, earning passive income through Stablecoins is much more attractive than leaving your money in your bank or credit union. This is all without the risk of price volatility as well.
Final Thoughts
Buying Stablecoins is a great way to store your money without risking the volatility of the stock or cryptocurrency markets. You don’t have to worry about your Stablecoins losing value because they will always be worth what you paid for them. Buying or transferring Stablecoins to Celsius is one of the best and easiest ways to earn passive income because you can earn about 8% interest per year just by holding Stablecoins in your Celsius account.
Staking Stablecoins is a great way to earn Stablecoin Staking Rewards. Visit Crypto Staking Rewards to learn how to stake crypto, earn staking rewards, cryptocurrency staking benefits, and where to find the best staking rewards.
