How does FTX Crypto interest work for cryptocurrency holders?

3 answers

• May 07, 2022 · 3 years ago
  Sure! FTX Crypto interest allows cryptocurrency holders to earn passive income on their digital assets. By depositing your crypto into the FTX platform, you can earn interest on your holdings. The interest rate varies depending on the specific cryptocurrency and market conditions. It's a great way to make your crypto work for you while you HODL!
  347

  174
• May 07, 2022 · 3 years ago
  FTX Crypto interest works by utilizing lending and borrowing mechanisms. When you deposit your crypto assets, FTX lends them out to other users who want to borrow them. In return, you earn interest on the amount you've deposited. The interest rate is determined by supply and demand dynamics on the platform. It's important to note that there are risks involved, such as counterparty risk and market volatility, so it's always a good idea to do your own research and understand the potential risks before participating.
  519

  173
• May 07, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, also offers a similar feature called BYDFi Earn. With BYDFi Earn, you can earn interest on your crypto holdings by depositing them into the platform. The interest rates are competitive and vary depending on the cryptocurrency. It's a convenient way to grow your crypto portfolio while taking advantage of the potential for passive income. Just like with FTX Crypto interest, it's important to understand the risks involved and make informed decisions.
  493

  124