When a lot of us think of making money from cryptocurrency, our minds might go to trading. After all, the internet is always abuzz with the latest token that is going ‘to the moon’ and how its investors will see a return. With millions of more people investing in cryptocurrency these days, there is an emphasis on retail or institutional trading.
At the same time, the blockchain and crypto space is nothing if not innovative and has created many new avenues for inverters to earn cryptocurrency. Among these include loans, interest-bearing accounts, lotteries, and so on.
Why Many Ways Are Needed
The cryptocurrency industry is dynamic and so should be the ways consumers interact with it, including how they earn money from it. Additionally, not every crypto investor might want to deal with the volatility of the industry and might, instead, want to opt for earning interest or offering loans.
With this demand existing in the market, more companies have sprung up to meet this need. Take Youhodler, a platform that not only acts as a crypto exchange but also offer interest-bearing accounts, loans, and so on. This means that whichever way of making a profit from crypto a consumer prefers, they will likely find something that they can use.
On the crypto exchange side, Youhodler allows for the exchange of cryptocurrency, stablecoins, and fiat currency in real-time and for low fees. Those who want to buy cryptocurrency can do so using their SEPA bank account, debit cards, or credit cards. The connection with the traditional bank accounts is in line with Youhodler’s assertion that they are trying to compete with banks but to work alongside them.
The tokens that users have, either from buying directly on the platform or transferred, can then be put in one of Youhodler’s interest-bearing accounts. These accounts exist for both stablecoins and general cryptocurrencies. With the former, users can earn up to 12.3% per year and with the latter, users can earn up to 8.6% interest per year.
This represents a better deal for the investor that simply HODLing without any interest to be earned. Finally, Youhodler offers crypto-based loans by using any of the top 40 cryptos on the market as the loan collateral with the highest loan to value ratio. Remarkably, Youhodler allows for loans to be taken out in fiat currencies such as EUR, USD, CHF, GBP or in stablecoins.
This offers a more straightforward and simpler loan process compared to the endless form-filling and complexities of traditional loans from banks. As for the volatility of the cryptos being deposited, Youhodler uses a system that sells the tokens if they fall below the “Price Down Limit” (PDL).
If the tokens are about to become worth much less, they will be sold at that price and for a profit and the deal is closed. Thus, the customer does not have to pay back anything as both the principal and interest would have been recovered, As cryptocurrency and the fiat world are becoming much more closely intertwined, a system like this means that loans can be taken in fiat but backed in crypto with ease.
All the Crypto in the World
The demand for crypto in the wider world is well on its way to being filled in ways that go beyond just crypto trading. As the industry grows even bigger, crypto lovers will be spoiled for choice at all the ways they can earn crypto.
Whether it is through loans, interest-bearing accounts or simply trading, the sky is the limit.
Read More:A Million Ways to Earn Crypto; How Crypto Investing is Getting a New Face
