I've been generating some crypto assets over the last few years. Now I enjoy reaping the rewards from them by earning interest on them. I'll give you 3 options I use to legally earn from my assets.
Being the most popular free wallet for BTC, this is an old company. I personally trust them more than my bank. Sure, they're not perfect, there's still a lot to be desired when it comes to customer support, but overall I'm happy to keep most of my savings there. They offer crypto rewards for assets you hold there. Covering 18 different currencies:
I'd like to point out that 13.5% on US dollar-bound stablecoins is insanely good. I haven't seen anything better lately on any other platform - usually others pay around 10% APR. Also they recently partnered with Celo to offer 16% per year for cEUR, which is a EURO-linked coin and that reward is insane. They announce every month what the prize will be for the next one, but the stable coins haven't changed in a long time, at least a year. Also I think 3,6% APR for bitcoin and 4,2 for ETH is also very good. An added bonus is that they are expecting to release their own crypto card soon, which you will be able to spend directly from your account if you wish.
As a downside, I can point out the sometimes relatively high fees if you pay with a credit card to buy coins from them. I'm not entirely sure if a bank deposit would be cheaper as I haven't tried that option.
2) Binance
The Binance Locked Betting Program. They offer 4 different options - 10, 30, 60 and 90 days for about 100 different assets. The list is too long, but you can check it out here . Of course, Binance as the largest crypto exchange has a host of other monetization tools, but none of them are as simple, user-friendly and useful as locked betting. The easiest way to check the terms of your chosen coin is to log into your Spot wallet when you log into the platform:
In the top right corner, click "Wallet" and then Fiat and Spot from the drop-down menu. If you do, your screen will look like this:
Usually on top you will have coins that you own. And from the menu on the right where it says "Action", you will have all the possible actions with each coin. Depending on the coin you own under the "Earn" link, there can be anywhere from 1 to 5 different options.
Each will give you different rates and ways to get rewarded. And they each have different levels of risk, so before you do something like this, you should be aware that there is always a risk. Please do your own research. Also, you should keep in mind that when you choose the Locked Staking program, if you suddenly decide to deactivate, you will lose part and all of your earnings. Therefore, it is best to make sure that you will not need these coins for the chosen period of 10, 30, 60 or 90 days. It usually takes a day before and a day after for the funds to return to your wallet. Additionally, you will not see the staked coins in your Spot wallet. You will only see the rewards you have accumulated. To check your staked coins, you will need to go to the left side of the page to Spot and Fiat and select earn:
Once there, you will have to browse through the different menus until you find the Locked bet. There are plenty of other ways to make your cryptocurrency earn you rewards.
Just keep in mind that some are riskier than others and you should read up on them before moving forward.
On the platform PancakeSwap in addition to the many trading options there is a Earn section.
With 2 options. Out of them - Farms is more profitable, but much riskier, so I'll leave it aside. The pools option is quite interesting. This is where you can wager your own PancakeSwap coin to win prizes either in CAKE itself or in a host of other coins. The percentages are pretty high, between 50 and 150%, but most are 50-60% per year. This means that if you have 100 CAKE, you will earn around 50 to 60 CAKE per year. To use the platform, you will need one of 8 wallets:
They are installed in your browser and you need to link them to the website. Also, a few dollars from the BNB will be required to pay for your transactions. From there you need to get a CAKE token in the BSC blockchain to get started. There are many ways and places to obtain it. You can trade to exchange Pankcake for some other coin you have. You can buy it on an exchange like Binance.
I use my credit card and buy CAKE from Binance and transfer the tokens to my wallet from there. Once you have them in your wallet, you go to the Earn-> Pools and select the option you want to win. Undoubtedly the most popular is Auto-Cake, which means that automatically anything you win will be re- wagered to win more. Manual winning will get your earnings into your wallet. Some of the other coins you can wager are quite unpredictable compared to the relatively stable CAKE.
This is the full list of tokens you could currently win. Some of them are quite obscure, but can be seen as opportunities to win. I am currently pushing to win more CAKE with the Auto Cake option.
I would like to stress that the CAKE is NOT a stable coin and its price can be quite volatile. it can go up or down at any time. I currently hold about 200 CAKE and earn about .25-27 CAKE every day from this investment.
There are plenty of other places to earn interest on your assets, let me list just a few honorable mentions:
This is the exchange with rather obscure coins that I like a lot. I tried their pledge and loan options there. They work quite well.
They advertise their services quite aggressively. However, their profit options only get really good when you've invested quite a bit of money in their own coin CRO.
Here you can wager many obscure coins and reap their rewards.
These are my top choices for earning passive income from the cryptocurrency I own. what's yours?
Rebuttal
There are quite a few references in this article for cross-referencing, mostly to exchanges. If you join through them, we'll both get some kind of profit from the provider.