5 Reasons to Earn Interest on Bitcoin – Deccan Herald

5 Reasons to Earn Interest on Bitcoin – Deccan Herald

Did you know that as of May 2021, Bitcoin sits at a value of $58,366? Or that approximately 250,000 Bitcoin transactions take place every 24 hours? As you can see, there’s money to be made on this most popular of cryptocurrencies.

But is Bitcoin right for you? After all, doesn’t it come with lots of volatility and few guarantees? While these characteristics may have described the currency early on, we think you’ll be happily surprised by the many compelling reasons you should earn interest on bitcoin today. 

Here are five reasons to consider making this crypto work for you in 2021 and beyond.

1. Savings Technology You Need
If you haven’t seen the “Bitcoin is savings and freedom technology” meme yet, you should check it out. Why would a message like this be in pop culture circulation right now? Because many investors refer to Bitcoin as digital gold, which makes sense considering it’s been profitable to hold for 92 percent of its existence. 

And you’ll be amazed by the amount of money you can make in interest simply by putting your money in a crypto account. While it might sound too good to be true, you can easily earn between three and eight percent in annual interest rates depending on the platform where you HOLD your Bitcoin. 

When you compare this to a traditional savings account where you’re lucky to earn one percent in annual interest, you’ll quickly see the allure of cryptos. After all, traditional savings accounts actually lose you money when you