Getting notifications each week about the passive earnings you make from your Crypto Interest Accounts is a great way to brighten up your day. There are several good services that offer crypto interest accounts, with the ones below being among the best. Spreading your crypto assets between the applications can help mitigate counterparty risk as well, so it’s worth opening an account with more than one. Both the centralized and decentralized services have their own risks, but since all the lending operations are backed up by more than 100% collateral, the risk to reward ratio is pretty good. The primary risk for centralized services is if they go out of business while smart contract issues are the biggest threat for decentralized services. So far though, these services have provided excellent yields for their clients without any major issues.
Centralized Lending Services
Pros:
• Great interest rates for BTC, ETH and stablecoins
• Spend your interest with their crypto Visa card
• Supports most of the major crypto projects
Cons:
• Interest rates on most alt coins is very low
• Must lock up coins to get the best interest rates
• Need to stake CRO to get the best benefits
Pros:
• Very competitive rates, especially for altcoins
• Get interest paid out daily or monthly
• Exchange tokens easily between wallets
Cons:
• Need to lock up tokens for best interest rates
• Buying crypto with fiat is limited
• Need Nexo tokens to get best interest rates
Decentralized Lending Services
Pros:
• Smart contract protocol with no intermediaries
• No lockup periods to get best interest rates
• Integrated into several other DeFi apps
Cons:
• Interest rates for alt coins are usually low
• High fees when the network is congested
• No company to contact if you have problems
Pros:
• Smart contract protocol with no intermediaries
• No lockup periods to get best interest rates
• Supports more tokens than Compound
Cons:
• Interest rates for alt coins are usually low
• High fees when the network is congested
• No company to contact if you have problems
More Strategies and Free Crypto
Recommended Crypto Services, Products and Strategies:
The first thing any crypto investor needs is is a reliable and secure Crypto Wallet. Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.
When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered. The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing.
If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.
For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!
What do you think about the applications above? Do you want to begin earning interest on your crypto? Be sure to leave a comment below.
2 comments
Fascinating developments in the cryopto currency world. And I’m continually amazed at your grasp of all the technology and your willingness to share your knowledge. I would like more of your insight on DAI.
Thanks John! It’s always wonderful to hear when people appreciate your work. I’m also glad to see your interest in DAI. The DAI project is revolutionary since it’s the first completely decentralized stablecoin controlled only by the governance of the Maker DAO protocol. One of the protocol’s primary functions is to maintain the stability of the DAI token by using CDPs (collateral debt positions) and a stability fee that’s continually adjusted based on the votes of the Maker token (MKR) holders. Since the Maker system is built on top of the Ethereum Blockchain, the current collateral used for the CDPs is the ETH token, but there are already major updates coming soon to allow multiple collateral types to maintain the stability of the DAI token. However, even now with only ETH backing the CDPs, the stability of DAI has been very impressive and the introduction of multi-collateral CDPs will only strengthen its stability. You can find more information here – https://makerdao.com/en/