Get 150-Times More Interest on Your Savings (Best High Interest Savings Account 2022)

Even the best savings accounts are near 0% interest on your cash. There is one online savings strategy though that can help you earn up to 7% and higher interest in 2022. Learn how to earn a higher interest rate on BlockFi here https://mystockmarketbasics.com/blockfi

The average household loses over $178 a year on cash sitting in their savings account in 2022. That’s the difference between inflation and what they earn on interest paid by the bank. As bad as that is, it’s about to get worse. Inflation has jumped recently and interest rates are not going up anytime soon.

There is a solution though, one that can help you earn an interest rate 150-times what you get on a bank savings account. Most people don’t know about it and the ones that do, think it’s too good to be true.

Demand for stablecoin lending has surged recently and that means platforms are offering a high interest rate to people holding a stablecoin balance. Stablecoins are digital tokens that keep their value because the coin is backed by a reserve holding of dollars, the value stays at $1 each. That makes it like an online savings account.

I use BlockFi to earn interest on my cryptocurrency and stablecoins. It’s not technically a savings account because BlockFi isn’t a bank and is not FDIC-insured but I earn a high yield and the assets are safe. It takes less than three minutes to open an account. You can deposit directly from your bank and start earning interest on your cash immediately. You’ll earn the highest interest rate with your stablecoins (USDC is the one I use) and can withdraw your money anytime.

The Fed isn’t increasing interest rates anytime soon and that means bank savings rates aren’t going up either. The average household loses hundreds a year on money sitting in the bank and even the best online savings accounts only offer a percent interest on your deposits. Even on that, you’re still losing money after inflation. I know cryptocurrency isn’t exactly the first thing you think about when you think safety or savings but stablecoins are a special type that holds its value and is actually just as safe as the money in the bank.

Still not investing in cryptocurrency? Don’t miss the rest of the videos in our cryptocurrency tutorial series for beginners!
Two ways to value bitcoin and why it could go to $190,000 in a few years! https://youtu.be/hrTVtv-caiE
Price forecasts for 7 other cryptocurrencies including Ethereum, Litecoin and Stablecoins https://youtu.be/8IYNyn-QB_M
Bitcoin vs Ethereum: Which is the Better Investment? https://youtu.be/UWgWcsA8dSQ
Why I’m Buying Bitcoin Right Now [Secret Tax Loophole] https://youtu.be/629f5wZQvQ8

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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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Видео Get 150-Times More Interest on Your Savings (Best High Interest Savings Account 2022) канала Let's Talk Money! with Joseph Hogue, CFA