Cryptocurrency interest is a great financial tool that the average saver often overlooks. Investing in an account that allows you to earn interest on cryptocurrency over the rate of inflation increases the value of your assets over time.
Choosing a savings account that pays compound interest is even better because the interest accrues at a higher rate the longer the funds remain in the account. Cryptocurrency investors can now take advantage of compound interest. Cryptocurrency investors may earn compound interest on their Bitcoin and other popular cryptocurrency holdings at rates ranging from 8% to 15% per year with accounts like those offered by Haru.
What is a cryptocurrency interest account, and how does it work?
Cryptocurrency interest accounts are those that allow you to earn interest on your cryptocurrency holdings. You don’t have to sell your cryptocurrency to earn more with a cryptocurrency interest account. Under the terms of your account setup, your account receives interest on a regular basis.
Earn interest on Cryptocurrency: how to put your cryptocurrency to work
You have the option of saving as much or as little as you like. The higher the interest rate, the more you save and the longer you save.
Step 1: Select the most effective product
There are three categories of items available:
- Haru Wallet for daily interest,
- Haru Earn Plus for higher interest rates,
- Haru Earn Explore for automated cryptocurrency trading.
Haru Earn Plus is a higher interest account with a lock-up period, and Haru Earn Explorer is an automated trading account.
Learn more from the website.
Their landing pages provide more information about the products.
Step 2: Create an account
Simply go to Haru’s signup page and register in a matter of minutes.
Step 3: Begin earning interest on your cryptocurrency
If you have already created your account, you can simply deposit assets and select the product. This will let you begin earning interest immediately.
What are the different types of cryptocurrency interest accounts?
The majority of industry companies chose to use cryptocurrency lending as their business strategy. Currently, both the industry-average loan rate and the maximum earning rate are declining.
We don’t have borrowers for your deposits at Haru. Instead, we invest them in the least risky way feasible for you. As a result, your earnings at Haru may be more than at other services.
You can save for as little as a week or as long as you choose
The impact of compound interest is greatest when you save for a long time; however, interest compounding every day can bring you returns even in shorter periods of time. Regardless of how flexible your lifestyle is or how many assets you need to save, compound interest can help you.
Haruinvest offers a variety of savings accounts, including no-lock-up accounts with a variable interest rate that surpasses standard savings accounts. This implies you can deposit some assets into those accounts and earn interest on a daily basis while still having fast access to those funds if you need them.
Joining up for a lock-up account for one month (or longer) can provide better rates for those who are willing to commit their savings for a longer time period. Savers may withdraw funds from these accounts at any time, but interest is only paid out after the lock-up period is over, so early withdrawals will result in a loss of interest. Your rewards will be higher if you can keep the funds in the account during the lock-up period.
Any third-party hyperlinks and banners don’t constitute an endorsement, guarantee, endorsement, warranty, or recommendation by BeInCrypto. Cryptocurrencies are highly volatile. Do Your Own Research before using any third-party services or considering any financial action.