Can You Earn Crypto While Learning? Insights for Beginners
Learning about cryptocurrency is both overwhelming and interesting at the same time. For now, let’s focus on the interesting bit. You can earn crypto while still learning this complex topic. After some research, you will realize that a savings account with a reputable platform will allow you to earn interest instantly. The good thing is that you do not need to know a lot about Bitcoin, altcoins, or stablecoins when you invest in a trusted platform. Some crypto high yield savings accounts have a high APR of up to 10%, so you should check this carefully.
To earn crypto through saving while learning digital asset investment such as trading, you will need to open an account with a crypto savings platform of your choice as we are going to guide you below.
Popular Crypto Savings Platforms Where You Can Earn Crypto
Crypto savings accounts allow investors to earn interest on their savings. They are flexible by offering the opportunity to invest different coins. The good thing is that these platforms provide other crypto services such as trading and borrowing, which means you will learn everything on one platform. Here are the popular platforms you should try.
- BlockFi – This is a popular name in the cryptocurrency interest-earning arena. It is a go-to option for those who want to earn BTC interest instantly. While it offers a relatively low APR of up to 5% on BTC and 8.6% on stablecoins, the platform has other incentives such as bonuses. Notably, BlockFi offers security on assets and a user-friendly platform, which is a good place for rookies to start.
- YouHodler – Do you look forward to saving with a highly secured platform with a high-yield savings account? YouHodler will help you earn crypto and withdraw it at any time you want. YouHodler provides among the highest interest with up to 4.8% on Bitcoins and 12% on stablecoins. Earning interest on stablecoins is what sounds the most interesting, and this is what most people go for. So, why not try them today to enjoy all the benefits they have to offer?
- Hodlnaut – As a newbie, you can still earn crypto while learning on this platform. If you open an account and deposit cryptocurrency, you will earn an interest rate of up to 10% APR. Additionally, they have a bonus program of $20 when you deposit $1,000 and above. The only limitation is that you can only withdraw after a week, so making plans for the money is very important.
- Nexo – Another popular platform for your stablecoin to earn interest is Nexo. Likewise, saving Bitcoins and altcoins will enable you to earn crypto. The interest rates can go up to 12% APR depending on the type of coin you save and the amount as well. Just like other crypto savings accounts, you do not need to know a lot about cryptocurrency since these platforms create passive income. With Nexo, you do not have to worry about security as you continue learning.
- Coinbase – Frankly, Coinbase is widely known as a popular exchange platform and a digital wallet. However, if you are in the USA and eligible, you can earn crypto at up to 1.25% APR on your savings account. The biggest benefit of saving with Coinbase is that you will earn interest on stablecoin and other cryptos while learning everything about digital asset investment on the same platform. Security on your asset is extremely high, so there is nothing to be worried about.
How to Earn Crypto Interest from a Savings Account
It is a good thing to earn crypto as you learn, isn’t it? Now that you know some of the best platforms to start saving, we will tell you how to open an account with them and start earning. Basically, you are required to open an account and deposit at least the minimum amount of cryptocurrency as required by the platform.
Although a high-interest Bitcoin account is the most popular, stablecoin accounts also earn quite good interest. So, read and understand the rates for the accepted digital coins to make the right decision.
When making a deposit, you can transfer cryptocurrency from a secure wallet and convert it into the coins you prefer for savings. Furthermore, you can buy cryptocurrency directly with fiat money, particularly with your credit or debit card. If you are comfortable with everything, you will start to earn crypto immediately, and withdrawals will be ready as directed by the platform.
How to Withdraw Your Interest
Interestingly, you can withdraw your interest at any time, weekly, or as directed by the platform. Since the crypto you have earned is already in your account wallet, you can withdraw it to a secure wallet in whichever type of coin or currency you want that is supported by the platform.
While it is easy to earn interest on Bitcoin and other cryptocurrencies through a savings account, it is also a learning process. Therefore, it is the best way to earn while learning the art of trading or carrying out any other digital asset management.