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To earn Bitcoin Cash interest, you will need to store your crypto in a pro-savings account.
Bitcoin was launched in 2009, and over the years, its value has grown from $1 USD to $64,200 USD as of today. Most crypto investors rank it as the best and most profitable crypto coin. The success of Bitcoin triggered the creation of other crypto coins and blockchain technologies.
Most crypto investors earn Bitcoin Cash as interest is gained from their crypto savings. If you’re new to crypto, then you’re in the right place. In this guide, we will touch on various subjects to help you get started. This guide will also help you understand why investing in crypto assets is better than fiat currencies.
Benefits of Crypto Coins
The rise and popularity of crypto coins are largely due to the benefits they offer over fiat currencies. Crypto coins are decentralized, meaning that they are not owned by any central body or government. As such, crypto owners have total control over their assets. Their transactions and identities are also kept anonymous.
Another benefit of using crypto coins is that their transaction fees are quite low compared to those of fiat currencies. For instance, if you are traveling to a foreign country, you will be required to exchange your currencies to the local currency. This exchange can be quite costly as banks will charge you an exchange fee. However, crypto coins are globally accepted, and as such, you will not incur extra fees during transactions.
Crypto assets are well-secured and use top-level encryption algorithms. Crypto wallets are also protected using a private key. Sending and receiving crypto is also quite easy as all you need is a laptop or smartphone with an internet connection. Unlike fiat currencies or centralized finance systems, you don’t need to have a credit card or ATM to withdraw money.
Buying Crypto Coins
Before you learn how to earn BCH, you need to understand how you can purchase your first crypto coins. Buying crypto coins is quite simple thanks to the various crypto exchange apps that are available. Crypto exchange platforms are applications that allow users to buy, sell, or swap crypto coins.
First, you will need to sign up for an account. Make sure you do plenty of research when looking for the best crypto exchange platform. Some of the factors you should consider are transactions fees, wallet services, and how long transactions take before they are verified.
Once you’ve found the best platform, you can proceed and sign up. You will need an email address to register for an account. After signing up, some platforms will require you to verify your account. You can do so by uploading a copy of your national ID or driver’s license. Once your account is good to go, the next piece of business is adding your preferred mode of payment.
Most crypto exchange platforms allow users to buy crypto from bank accounts via a debit or credit card. However, you need to make sure that you are using a USD or Euro account to avoid incurring extra fees on foreign exchange.
How You Can Earn Free Bitcoin Cash
To earn Bitcoin Cash interest, you will need to store your crypto in a pro-savings account. YouHodler is one of the best pro-savings crypto platforms available. Users earn an interest rate of 12.3 % per year. The interest earned is deposited into your account every week.
Other than the pro-savings account, YouHodler offers other additional services. You can apply for crypto-backed loans. The loans can either be in the form of fiat currency or crypto coins. Your crypto savings will be used as loan security. One good advantage of these loans is that they incur a smaller interest fee compared to what banks charge.