How to earn interest on your crypto investments in Nigeria
We all know about making money out of cryptocurrencies. You buy some cryptocurrencies at dip and sell it at high. Of course, if you are a long-term investor, you buy crypto and hodl it. But have you ever thought of earning interest on your crypto investments? If you did, then in this article, I am going to talk about how to earn interest on your crypto investments in Nigeria.
Although, earning interest on crypto isn’t really a safe investment option as compared to traditional banks. But thanks to the adaptability of crypto, we now have lots of handful options:
Best Crypto Interest Accounts Available in Nigeria
BlockFi is one of the best crypto savings accounts that you can check out. It has a BlockFi Interest Account or BIA that lets you earn monthly interests in the asset type that you transfer to BlockFi.
Using the service, you will be able to earn compound interest in crypto. Also, you can significantly increase your cryptocurrencies like Bitcoin, Ether, USDT, USD Coin, and others.
Getting started with the platform is also pretty simple and quick. After signing up, you will need to deposit your cryptocurrency, and it will return you with interest. Also, you will be able to buy or sell crypto with no hidden fees.
Also, recently Crypto publication The Money Mongers listed Blockfi as the best alternative to Celsius Network for crypto lending, borrowing and earning interest.
Next, there is Nexo.io. With the help of this platform, you can earn up to 12% APR. Nexo pays interests on an annual basis. Also, getting started with the website is pretty easy.
All you have to do is create an account on the platform and top up your account by depositing cryptocurrencies, and it will pay up to 12% annual interest.
The website also has an interest calculator. Just select the cryptocurrency you are depositing and the total amount, and it will tell you how much you will earn in a year.
Moreover, you can also use Nexo to buy more than 16 available coins to grow your portfolio. Also, you will be able to get crypto loans.
If you wish to earn huge interest on your crypto investments. Then you should check out Celsius. With this one, you will be able to earn up to 17% yield on your crypto investments. Also, you can use the platform to borrow cash at the lowest rates.
The platform lets you earn top rates on any amount of crypto. Also, it pays you every Monday to keep HODLing. Even, you can also earn 25% more rewards when you choose to earn in CEL tokens.
Using the platform to earn interest is also a pretty straightforward job. You have to sign up on the platform and get your account verified. Then you have to deposit your crypto investments, and you will start earning interest on it.
Also, the website of Celsius.network has a calculator which you can use to get an idea of how much you will earn on your crypto investments.
You can also check out Gemini. With this crypto interest account, you can receive up to 7.4 APY on your cryptocurrency investments.
Talking about Gemini, it is a crypto exchange platform that allows you to earn interest under its Gemini Earn feature.
Being a trading platform itself, it makes dealing with crypto extremely easy. All you have to open an account and purchase any amount of cryptocurrency, and you can immediately opt for Gemini earn to start earning interest on your balance.
Also, it offers you quick features to redeem your interest and move your cryptocurrency back to your trading account at any time.
Moreover, it offers you different interest rates based on different coins. Also, the website has a calculator that will help you get an idea of how much interest you can earn.
Lastly, you can check out YouHolder. This one allows you to earn crypto interest up to 12.3% APR + compounding interest.
The platform works like any other platform out there. It lets you earn interest by depositing your crypto in YourHolder savings account.
Also, it lets you earn interest in Bitcoin, Pax Cold, and other major stablecoins. Plus, the crypto interest earnings are deposited directly into your wallet every week.
Moreover, there is no minimum deposit required to start earning interests. Plus, there is no need to stake a native token to unlock special features. Also, it has competitive pricing and fees.
So that was all for how to earn interest on your Crypto Investments in Nigeria question. Now go ahead and check these best crypto interest accounts and see which one is working for you. Also, if there is anything else you would like to ask, then do feel free to comment below, and I will help you out.Follow us on social media