Cryptocurrency Exchange Gemini is offering fantastic interest rates compared to the paltry returns most banks advertise. While a 12-month CD at a bank would yield you around half a percent, investors can now earn up to 7.4% APY with Gemini. Gemini is a cryptocurrency exchange founded by Tyler and Cameron Winklevoss, who came to fame through their famous Facebook dispute with Mark Zuckerberg.
The interest you receive at Gemini will vary based on the asset you are holding. As of April 10, 2021, Bitcoin is yielding 2.05%, Ether is yielding 3.05%, and Litecoin is at 5.1%. To make things even better, interest is compounded daily and you can redeem your crypto at any time. For those who are looking to receive high returns on cash balances, you can convert your dollars to the stablecoin Dai to earn 7.4% APY. A stablecoin is meant to mimic an underlying asset, in this case the US Dollar. Unlike a certificate of deposit, you can withdraw your assets at any time without any fees. There are no minimums and no hidden fees. Please note you must opt into Gemini Earn to start receiving interest. This is a simple process done through the Gemini app. To see a full list of interest rates on other cryptocurrencies, visit the Gemini website.
To make your investment secure and safe, Gemini has adopted special technology on par with top financial institutions. Gemini holds the majority of its' cryptocurrency in "cold storage" to provide its' customers with assurance that they can invest with confidence. The small portion of crypto that must be held in the "hot wallet" to provide liquidity is insured.
Gemini makes it easy to buy, store, and earn on your cryptocurrency. To get started investing in crypto, earn $10 in Bitcoin as a signing up bonus and receive up to 7.4% interest on your account, use this special link.
Full Disclosure: This post contains an affiliate link to Gemini.
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