Unlike regular savings accounts, Crypterium’s solution provides a high APY that involves no work and no risk.
In these uncertain financial times, everyone needs to retain purchasing power. Investing remains a viable option, but only if the project returns are worthwhile. Fintechs startup Crypterium may have cracked the code for risk-free interest-generating solutions through stablecoins.
Financial Uncertainty Warrants Alternatives
Since the financial crisis of 2008, the world has struggled to find financial stability. Many economies are still recovering from that crisis, and the current situation is not looking too optimistic. Negative interest rates are becoming the norm globally, forcing consumers to pay banks to keep their money safe. It is an unsustainable business model that needs to change sooner rather than later.
Unfortunately, there isn’t much room for improvement in traditional finance. Banks will be unable to offer favorable interest rates again suddenly. Finding alternative solutions becomes essential, yet many people have become risk-averse. More specifically, the cryptocurrency industry – read: stablecoins – can offer a viable alternative to those looking to retain their wealth and increase their purchasing power over time.
Risk-Free Assets
For those not familiar with stablecoins, they are a digital asset type representing a fixed value. The majority of stablecoins have a US Dollar value, although similar vehicles exist for other currencies. As these currencies cannot deviate from their fixed value, they are free from the volatility one typically finds in the cryptocurrency space. However, they still provide access to some of the industry’s more appealing investment options.
With the help of Crypterium, owners of popular stablecoins – USDT, USDC, and DAI – can now earn the highest APY in the industry. Until April 30, depositing any – or all – of these stablecoins will award users with an APY of up to 15.6% This is much higher than the industry average of 12% and far more favorable than [negative] interests provided by one’s bank.
Crypterium continues to push the boundaries of what is possible in the world of decentralized finance. Since its launch of cryptocurrency savings accounts for Bitcoin, Ethereum, TON, and CRPT, the company has researched ways to provide even more options. The introduction of high APYs for stablecoins is a good example. Offering lucrative returns for non-risky assets that have no volatility is an essential step in the right direction.
Users can lock their stablecoins for either two or five months, depending on their preference. Either option will have a slightly different APY, although both options will not incur volatility risk. There are no limits on minimum or maximum deposit amounts, allowing users to contribute as much or as little as they are comfortable with.
Growth of Crypterium
It is no big surprise to see Crypterium take this next step in its journey to make cryptocurrencies more appealing and accessible. The global fintech startup servers over 500,00 customers across 170 countries through its Crypterium Wallet and Crypterium Card. Bridging the gap between digital assets and traditional finance will benefit consumers globally, as they can explore new opportunities and use cases.
Through the Wallet, users can buy crypto assets with their debit or credit card. From that same wallet, they can then begin to earn high yields through savings account solutions. The Wallet is an essential tool for those who own – or don’t own – stablecoins (yet) and want to explore these high APYs without friction. Users can download the wallet on iOS, Android, or for their desktop.
Closing Thoughts
Attracting more people to the cryptocurrency will require innovative solutions capable of rivaling or even outperforming traditional finance. Unlike regular savings accounts, Crypterium’s solution provides a high APY that involves no work and no risk. There are no other options to earn up to 15.6% APY on a deposit that can never fluctuate in value.
As Crypterium keeps exploring the boundaries of finance, it can make the use of cryptocurrencies and stablecoins more attractive. Offering a high APY and making it easier to onboard newcomers will prove essential in this regard. Cryptocurrencies and other digital assets slowly gain mainstream traction, but there are still many opportunities to explore.
Founder and editor at BTC PEERS. Andrey writes about financial experiments, DeFi, cryptocurrency, and blockchain.