Do you own Bitcoin or Ethereum? If yes, then where are you keeping them? In a normal exchange wallet?
Do not make this mistake. You can earn interest on your crypto holdings just like you earn interest on your cash in a bank deposit. Let's see how it works.
First of all, let's understand how a bank works. Banks take your money and provide loans to borrowers and charge them a higher rate of interest over the rate they have promised to you on your deposits. Now the difference between these two rates is the bank's profit.
Similarly, in the crypto world, you can lend your crypto to borrowers and earn interest on them. But while banks provide next to nothing rate of interest, crypto lending platforms can even provide 25% rate of interest on your coins. Now the immediate question arises - how safe it is? What if the borrower defaults? In a bank, it's the bank's responsibility to recover the money and also it is regulated by the government. But as we know, in crypto, there is no such thing as regulation, as of now.
Well, to answer that, all the loans provided to borrowers are secured. Loans are over-collateralized and auto liquidated whenever collateral value drops below a certain limit. Therefore, investor's money is always safe, i.e. zero credit risk.
Now coming to the platforms which provide these services, there is a handful in the market as of now and more coming in the future but the one that I feel safe because of its transparency, good user reviews and most importantly highest rate of interest, is Midas Investments.
You can check it out their website here: Midas Investments
Headquartered in Switzerland and led by CEO Trevor, Midas Investments is a savings and lending platform founded in 2018 that pays out high yields for many assets. They have a variety of assets available for single asset staking or yield farming through DeFi. Midas also offers automatic portfolios that pay out over 24.4% APY. If financial freedom is what you seek, then may be you should give Midas a try.