Investing in cryptocurrency has its perks and risks. However, the benefits of investing in crypto coins far outweigh the disadvantages. When Bitcoin, the first crypto coin, was launched, most people were quick to call it a bluff.
The success of Bitcoin led to the creation of more crypto coins. In addition, investors now use their Bitcoin savings to earn interest on crypto. Besides that, you can also trade your crypto coins for profits. Most crypto investors buy more coins during the dip and sell when the prices increase.
If you’re looking to invest in crypto, this article is for you. We will share tips on how to go about making your first crypto purchase. We will also let you in on a secret on how you can earn free interest from a crypto savings account.
Purchasing Your First Crypto Coins
These days, buying crypto is very easy. All you need is a laptop or smartphone with an internet connection. You will need to sign up for an account on a crypto exchange platform of your choice. After successful registration, you can now purchase your first crypto coins.
There are a couple of things you should consider when you’re looking for the best crypto exchange platform. Ensure that the service has cross-platform support, meaning a web app, iOS, and Android app. Also, make sure that the crypto exchange service supports your preferred mode of payment. Lastly, check how much transaction fees they charge.
Once you have purchased your first crypto coins, you will need to store them in a savings account. Most crypto exchange platforms offer pro-savings services to their users. One of the best crypto exchange platforms that offer the best interest rates is YouHodler.
Getting Started with YouHodler
YouHodler is a crypto exchange platform that offers crypto savings account services. Users who store or rather save their crypto coins in the pro-savings account earn cryptocurrency interest. The interest gained is deposited into your account at the end of every week.
In addition to competitive interest rates, YouHodler also offers crypto-backed loans. The loans can be either in the form of crypto coins or fiat currency. The interest rate charged on the crypto loan is quite low compared to what most banks charge.
Benefits of Crypto Coins
Having an extra source of passive income is one way of securing or working toward your financial freedom. Back in the day, most crypto investors relied on crypto trading to make profits. However, with the advancements in crypto technology, you can now earn some free crypto coins via a crypto interest account.
Crypto coins are decentralized currencies, meaning that they are not controlled by any central government. In addition to that, most crypto coins are globally accepted. As such, you will not incur massive transfer fees when sending or receiving crypto coins.
Crypto coin prices are quite volatile. However, if you’re interested in enjoying the benefits of crypto platforms, you can invest in stablecoins. Stablecoins are a special kind of crypto whose value is tied to fiat currencies such as the Euro or USD.
This story does not necessarily represent the position of our parent company, Strange Sounds.