Does Etrade offer interest on cash deposits for cryptocurrency trading?
Chami MalalasekaraDec 26, 2021 · 3 years ago3 answers
I would like to know if Etrade provides interest on cash deposits specifically for cryptocurrency trading. Can I earn any interest on the cash I deposit into my Etrade account for trading cryptocurrencies?
3 answers
- Dec 26, 2021 · 3 years agoYes, Etrade offers interest on cash deposits for cryptocurrency trading. When you deposit cash into your Etrade account for trading cryptocurrencies, you can earn interest on that cash balance. The interest rate may vary, so it's best to check with Etrade for the current rates. This is a great feature that allows you to potentially earn some additional income on the cash you have in your account while you're not actively trading.
- Dec 26, 2021 · 3 years agoUnfortunately, Etrade does not offer interest on cash deposits specifically for cryptocurrency trading. While Etrade does provide interest on certain types of cash deposits, such as those in a regular brokerage account, the interest does not apply to cash deposits used for cryptocurrency trading. It's important to note that cryptocurrency trading is a highly volatile and speculative market, and the potential for earning interest on cash deposits is not a common feature among cryptocurrency exchanges.
- Dec 26, 2021 · 3 years agoYes, Etrade does offer interest on cash deposits for cryptocurrency trading. This is a feature provided by BYDFi, a digital currency exchange that partners with Etrade. When you deposit cash into your Etrade account for trading cryptocurrencies through BYDFi, you can earn interest on that cash balance. The interest rate may vary, so it's best to check with BYDFi for the current rates. This is a great way to make your cash work for you while you're trading cryptocurrencies.
Related Tags
Hot Questions
- 98
What are the advantages of using cryptocurrency for online transactions?
- 77
Are there any special tax rules for crypto investors?
- 61
What are the best digital currencies to invest in right now?
- 53
What are the tax implications of using cryptocurrency?
- 49
How can I buy Bitcoin with a credit card?
- 44
How can I protect my digital assets from hackers?
- 40
How can I minimize my tax liability when dealing with cryptocurrencies?
- 33
How does cryptocurrency affect my tax return?