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What is Crypto Savings & How Does It Work?

Cryptocurrency holders might earn high-interest rates on their crypto assets because of blockchain technology’s efficiency. Stablecoins, which are digital assets tethered to the US dollar, might provide significant payouts even to risk-averse investors. If you already own cryptocurrencies and intend to keep them for the long term, collecting interest on it can help you expand your holdings.

A bitcoin savings account allows you to participate in the cryptocurrency market while earning significantly greater interest rates than a bank account. A crypto savings account can help you earn income while keeping your coins safe if you’re looking to invest in cryptocurrencies for the long term.

What are the Benefits of Crypto Savings?

A bitcoin savings account functions in the same way as a regular savings account. When you put money into a standard savings account, you are giving the bank permission to lend the money out to third parties. In exchange, the bank pays you an annual percentage rate of interest.

Crypto Savings Accounts vs Crypto Wallets

A bitcoin wallet is not the same as a cryptocurrency savings account. The fundamental distinction between a cryptocurrency savings account and a wallet is the capacity to generate interest. Your money will earn interest over time if you keep it in a cryptocurrency savings account. Your investment will not earn interest if you keep your coins in a wallet with keys that only you have access to – the number of coins in your wallet will always remain the same if you don’t withdraw them.

Most cryptocurrency wallets are like this; however, due to the DeFi (decentralized finance) business, certain wallets now allow you to earn interest on your coins. These currencies, unlike Bitcoin, which has a finite number of 21 million coins, usually include inflation schedules. Because of this inflation, you might be better off investing in cryptocurrencies like Bitcoin to earn interest.

Why is BTC Savings the Best & Most Profitable Crypto Savings?

Now that you know how bitcoin savings accounts function and how they differ from ordinary savings accounts, you can get started. You can check out the article on BTC savings, our newest favorite crypto savings here.

If you’re looking for a good time to buy bitcoin, this isn’t a bad time, and probably considered perfect time. Considering the market is currently dropping. Ultimately, whether you want to invest in bitcoin for the long run or just purchase and sell it quickly, it depends on your goals.

However, you have another worthwhile alternative. Instead of simply buying, then hodling your favorite crypto assets, you can get more profits in the form of competitive interest per year (up to 10% APR) with NOBI Earn. Starting 28-04-2022, you can enjoy APY up to 2.5% of Saving BTC in NOBI Earn without lock-in period, no limits!

Do you want to make 2.5% (APY) on your BTC savings and up to 10% (APR) on other top crypto assets? Sign up for a NOBI account today!

About NOBI

NOBI is an all-in-one crypto app that provides various easy crypto investing through passive income from NOBI Earn, NOBI Pro, and NOBI Trade. An app designed for people that are into crypto but don’t have time for crypto.

How Safe is it?

PT. Enkripsi Teknologi Handal (NOBI) is a registered Indnesian company and a member of the Indonesian Blockchain Association. Moreover, NOBI partners with global crypto companies such as Binance, AAVE, Compound Finance, and more, to ensure users can safely invest crypto and earn yield.

Find us on Twitter, Facebook, Instagram, or join our Telegram community.

For customer support, send an e-mail to support@usenobi.com or drop a chat on NOBIHELP where our dedicated support specialists will assist you via live Telegram chat.

If you have any suggestions, feedback, or comments about the app, reach us at roadmap.usenobi.com 

NOBI is available on both Google Play Store and App Store. Download now and create your free account in minutes!