The ONLY Crypto Interest Account Worth Using (for Bitcoin Interest)

There are TOO many options for crypto interest accounts. I wanted to find the best crypto interest account for Bitcoin, so I tried every account out there in one week. I hope this video helps you find the best crypto interest account for you!

00:00 - Intro
1:15 - How Do Crypto Interest Accounts Work?
2:48 - Coinbase / Coinbase Pro
4:04 - BlockFi
6:49 - Gemini / Gemini Pro
9:33 - Crypto.com
12:31 - Voyager
15:06 - Celsius Network
16:54 - Nexo
20:26 - My Favorite Crypto Interest Account
21:46 - Crypto Interest Account Risks

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My Bitcoin strategy involves dollar-cost averaging on a regular basis and holding for the long-term. Since I am not looking to sell my Bitcoin for at least a few years, I wanted to find the crypto interest account that would offer me the best interest rates on my Bitcoin while also keeping costs as low as possible.

In order to personally identify the best platform for earning interest, I decided to try 7 of the biggest platforms in the span of one week, testing the overall user experience and digging into all the important numbers.

In almost all cases, crypto interest accounts are able to pay you interest on your crypto assets thanks to a lending relationship. When you deposit crypto onto one of these platforms, the companies can use your crypto balance to provide loans to other customers, whether they’re individuals or institutions. As the middleman, these crypto interest account platforms will collect interest from the parties who are borrowing the money, and will then pass some of those profits back to you in the form of regular interest payments.

The crypto lending market is still fairly new, which explains why there can be significant differences in interest rates offered by different platforms. Ultimately, the interest rates they offer to users who store their crypto in these interest accounts will depend on how much the companies themselves are collecting in interest from borrowers. CoinDesk predicts that the spread in interest rates on both sides will converge over time as technology improves, competition increases and the diversity of accepted crypto assets grows, which is a stance I agree with.

In the meantime, though, the rates offered by different platforms and the crypto assets they support varies quite a bit. These platforms and their interest rates are also likely to change quite a bit in the coming months and years, so be sure to verify any numbers on each platform before you choose to try one out. Finally, some features and platforms are also limited by country, so I will be focusing on accounts that are accessible to US residents and offer high flexible Bitcoin interest, because that’s what I’m personally looking for. However, I will be sure to highlight other features along the way in case you’re looking for something slightly different in a crypto interest account.

#Bitcoin #Cryptocurrency #PassiveIncome

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DISCLAIMER: NOT FINANCIAL ADVICE.
The content in this video should not be used as the basis for any investment decision, as it is for entertainment purposes only. Additionally, some of the links contained in this description are affiliate links. The promotions advertised may change & I may earn a commission should you choose to purchase or sign up at the links provided.

Видео The ONLY Crypto Interest Account Worth Using (for Bitcoin Interest) канала Tyler McMurray