While many people buy cryptocurrency to use it, others do so as an investment. If you plan on keeping your crypto without spending it, then you should look for ways to earn interest on it. You could actively take a role in the process of earning interest, but you could get better results with less effort by letting experts handle it.
How Is It Possible to Earn Interest on Crypto?
There are several different strategies for earning interest on crypto. The simplest option (if you want to do it yourself) is lending cryptocurrency and charging the borrower interest. You can do this via peer-to-peer transactions or with a website that facilitates those.
You can also earn interest by trading your cryptocurrency, but that requires you to constantly monitor the markets. Arbitrage is yet another option.
All of the above, however, require you to put in an active effort. The most convenient option overall is to take advantage of a platform that will help you earn interest. This can be via a crypto savings account or managed cryptocurrency account. Those platforms will use your crypto to earn interest and pass the majority of the interest onto you.
What Are the Current Interest Rates?
According to CoinMarketCap, the current interest rates for Bitcoin vary from just 0.50% to 10.10%. For Ethereum, the rates vary from 0.01% to 10.40%.
Meet Haru Invest: The new way to earn interest with cryptocurrency.
By comparison, Haru Earn Plus accounts can earn between 7.2 and 15.4% interest, depending on the cryptocurrency you choose and your lock-up period. Haru Invest accounts do even better, with target rates of 25%+ for BTC, 22.5%+ for USDT, and 21.5%+ for ETH. Haru Earn also has great rates, between 6.2% and 8%.
Other Haru Benefits
The team behind Haru has a successful track record, as the team worked in Block Crafters Capital before creating Haru. This history also means they have vast experience with crypto fund management.
Haru also requires all of its partners to meet strict selection criteria. This means that any global digital asset management firms involved in investing your crypto are at the top of the industry.
Haru’s crypto savings accounts offer the advantage of letting you choose your preferred lock-up period or completely avoid one. This contrasts with most competitors, which require a lock-up period, many of which are longer.
For Haru’s investment accounts, you also get the advantages of an incredibly low minimum investment (just $10) and no investor requirements. There are also no management fees and a competitive performance fee that you only have to pay if your profits exceed 15% APR.
How Come the Earn Rates of Haru Are So High?
The most important strategy behind Haru’s high interest rates is risk-free arbitrage. This type of strategy lets you earn interest even if a cryptocurrency drops in price. As a refresher, arbitrage takes advantage of differences in prices across exchanges. As such, the strategy works well regardless of the current price of Bitcoin. Using arbitrage like this is risk-free, as it does not rely on the volatility of Bitcoin or the coin increasing in value.
Arbitrage can be time-consuming and complicated for individual investors, as each profit you make from it is tiny. However, with the proper algorithms, you can complete trades in fractions of a second. Haru does this for you. That strategy let Haru make over 25% on profits last year.
The use of this strategy makes Haru and its rates so unique. It was the first company to offer profits using this type of asset management strategy instead of relying on crypto lending. Others have since followed suit, but Haru has a head start and the best rates.
What Kinds of Services Does Haru Offer?
Haru offers several types of services, divided into crypto savings and investments.
Crypto Savings Accounts
Haru offers several different products, each with slightly different interest rates. Haru Earn has highly competitive interest rates with absolutely no lock-up period. The lack of lock-up period is particularly important, as traditional fixed-term deposit products require you to lock up your assets for at least a year, if not two. Haru Earn is the ideal option for investors who want a high interest rate but the ability to withdraw their crypto at any time.
With Haru Earn Plus accounts, you choose how long you want to lock up your cryptocurrency for. You can choose to lock it up for just 15 days or as long as 365 days. The longer the lock-up period you choose, the higher your interest rate. Both Haru Earn and Haru Earn Plus are cryptocurrency savings accounts.
Crypto Investment Accounts
If you want the potential for higher interest rates, then the Haru Invest accounts are ideal. These investment accounts are managed by professionally created algorithms that monitor the markets 24/7. These algorithms and the active trading allow for the higher interest rates mentioned. Haru Invest does have a higher risk, but it also has a higher return. Haru has also proven its track record by publishing past Haru Invest figures for your peace of mind. They are typically within the target rate.
How to Start With Haru Invest
To start with Haru Invest, you need to make an account. The process of signing up will take seconds and just requires you to fill out a quick form.
Then, you will have to complete KYC verification before you can deposit or withdraw. To do this, go to your profile page. From there, head to the Identity Verification section and click “Unverified.” You will be prompted to choose your nationality and the type of ID you want to upload. You then upload a photo of your ID, a selfie of you holding the ID, and a document with your full name and address. You will also have to enter the details from the documents in a form, which should take a minute or two at the most.
Once verified, you can deposit crypto with ease. Just go to the “Deposit” button once you log in. You will see a deposit address that you can copy as the destination on your crypto wallet or exchange. The minimum deposits are incredibly accessible (0.0001 BTC, 0.005 ETH, or 1 USDT for Haru Earn and Haru Earn Plus, and $10 for Haru Invest). With Haru’s help, you could start earning interest on your crypto today.
The post How to Earn Interest on Crypto With Competitive Rates appeared first on Blockonomi.
August 27, 2021 at 05:56AM https://blockonomi.com from Blockonomi https://ift.tt/2Wqjwww
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