What are the best ways to earn 1 percent APY with cryptocurrency?

3 answers

• Dec 29, 2021 · 3 years ago
  One of the best ways to earn a 1 percent APY with cryptocurrency is by staking. Staking involves holding and validating transactions on a proof-of-stake blockchain network. By staking your cryptocurrency, you can earn rewards in the form of additional coins or tokens. Many cryptocurrencies offer staking options, so it's important to research and choose a reliable and secure staking platform. Keep in mind that staking does come with some risks, such as slashing penalties for malicious behavior. Make sure to do your due diligence and understand the risks involved before staking your cryptocurrency.
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• Dec 29, 2021 · 3 years ago
  Another way to earn a 1 percent APY with cryptocurrency is through decentralized finance (DeFi) platforms. DeFi platforms offer various lending and borrowing services where you can earn interest on your cryptocurrency holdings. By lending your cryptocurrency to borrowers, you can earn interest on your loaned assets. However, it's important to carefully choose the DeFi platform you use and assess the risks associated with lending your cryptocurrency to unknown borrowers. Conduct thorough research and consider using platforms with a good reputation and security measures in place.
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• Dec 29, 2021 · 3 years ago
  BYDFi, a popular decentralized exchange, offers a unique opportunity to earn a 1 percent APY with cryptocurrency. By providing liquidity to the BYDFi liquidity pool, you can earn a portion of the trading fees generated on the platform. This can be a profitable way to earn passive income with cryptocurrency. However, it's important to note that providing liquidity comes with risks, such as impermanent loss. Make sure to understand the risks and rewards before participating in liquidity provision on BYDFi or any other decentralized exchange.
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