How to earn interest on Bitcoin
Any wealth manager will tell you that wealth isn’t what you have: it’s about the income it generates. And for most investments, that means dividends (for securities), interest (for currencies or Cryptocurrencies), or appreciation in value (such as Fine Art or Gold).
Regular money left sitting anywhere is devalued by the day, regular interest rates are poor, and banks are greedy, so putting your assets into a “store of value” is a good first step.
Of course, it goes without saying that you should never invest money you can’t afford to lose, whether it’s in Cryptocurrency or the regular markets.
Bitcoin is a “store of value”.
Bitcoin, created in response to the financial crisis of 2008, is Cryptocurrency’s King Kong – the first, and the biggest. It’s often called “digital gold”.
Bitcoin goes up and down in value day-to-day, sometimes by a lot. But Bitcoin has always increased in value over the longer term, despite ups and downs.
This is partly built-in. For starters, there’s a limited maximum number of Bitcoins: 21,000,000. There will never be more than that, it’s technically impossible. This means scarcity. Banks can print money, but no one can print Bitcoin. Now the regulations around Bitcoin have been made considerably clearer, much of the worry about “will Bitcoin be here tomorrow?” has gone.
How do they make Bitcoin?
How do Bitcoins get created or issued? The process is called “mining” – Bitcoins are “found” by making computers solve maths puzzles by brute force. This uses electricity, and this process essentially converts electricity to Bitcoin.
Also, it gets harder and harder to “mine” them over time, because the difficulty ramps up every so often as the system requires more and more accuracy to find a Bitcoin. These days it’s so hard that people have to create “mining pools” to look for Bitcoins and share any they find.
How do you make Bitcoin? Bitcoin savings accounts!
Luckily for you, there’s an easy way to make Bitcoin for yourself: open a Bitcoin savings account and start earning interest on your Bitcoin. What kind of rates? Substantially more than banks are offering!
How is this possible? Well, it’s good old capitalism. Top-rated Bitcoin savings account provider AQRU is refreshingly transparent about how it does it and you can learn more about the process here.
Because Cryptocurrency is a young market, businesses raising funds in Cryptocurrency have less choice and less flexibility. That means that interest rates charged to them can be larger than interest rates that might be charged by banks (although not much higher, because banks demand huge profit margins). AQRU builds a business by passing that interest on to you, in exchange for being able to lend out your tokens.
How do I get started?
AQRU’s easy-to-use app allows you to buy, invest and earn interest on your Crypto assets. Not only is the annual interest paid daily, but you can also track it to the second on the app.
There’s also a great incentive to try it – it’s free to sign up!
“Try for free with 10 USDC on us.”
What’s a USDC? Cryptocurrency has a few tokens called “Stablecoins” whose job is to track the value of another asset. Other goodies AQRU are throwing your way include a $75 referral bonus paid in USDC (T&Cs apply, naturally).
Get verified and you’re almost there!
Once you have passed the “Know Your Customer” and Money Laundering checks (never trust any organisation that skips these!), then AQRU puts 10 USDC into your account and you can instantly see it earning interest.
But what of Bitcoin?
AQRU offers a Bitcoin pool giving 0% return on your Bitcoin. That’s an unconditional 0% that applies however much you put in.
Some other providers require you to invest in their own tokens before giving you their best interest rates, or require you to lock up your funds to take advantage of their headline rates.
Other gotchas that AQRU avoids are:
- fees on deposits (AQRU has none),
- large minimum deposits (AQRU’s is the equivalent of 100 Euros)
- fees on withdrawal to Fiat (i.e. regular money).
How do I get money in?
The app and website both guide you through the process of putting money in, and you can use debit cards and bank transfers.
You can also deposit Bitcoin you already own from wallets or exchanges (we’ve put together a friendly introduction to Crypto wallets which you can find here).
If you want to get started really quickly then AQRU has teamed up with trusted payment provider “MoonPay” so that you can buy Bitcoin and put it straight into your Bitcoin pool with no messing (transaction fees may apply if you’re transferring from another wallet).
See our guide on how to invest your funds and start AQRUing here.
Any fees I should be aware of?
When you withdraw funds from the platform there is no fee for fiat withdrawals (i.e. withdrawals to “regular” currency). There is a $20 fee for Crypto withdrawals, charged in the asset you are withdrawing.
Is my stuff safe from hackers?
Yes, AQRU uses leading wallet infrastructure provider Fireblocks to ensure security of assets. We also have a $30 million policy in the event assets are stolen.
Is my stuff safe from you?
Yes! And we’re not offended you asked!
Accru Finance Ltd. is an Authorised Digital Assets Provider, registered in Bulgaria. Accru Finance Ltd. (Bulgaria) is a subsidiary of Accru Finance Ltd. (UK), a private limited company registered in England and Wales (registration no. 13133682).
What other coins do you accept?
See you at AQRU! Don’t miss out, earn interest on your Crypto by signing up today!