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TagsWhat is the difference between APR and APY in the context of digital currencies?
Muhammad HarisDec 28, 2021 · 3 years ago1 answersCan you explain the distinction between APR and APY when it comes to digital currencies? How do these two terms impact the returns on investments in the crypto market?
1 answers
- When it comes to digital currencies, APR and APY play a crucial role in determining the potential returns on your investments. APR represents the simple interest rate, while APY takes into account the compounding effect. In the context of digital currencies, where volatility is high and returns can be significant, it's essential to consider both APR and APY to accurately assess the profitability of your investments.Dec 28, 2021 · 3 years ago
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