BlockBank will be enabling its users to earn interest on the stablecoin USD Coin (USDC), with rates up to 60x the US national average of a traditional savings account.
Best of all, your USDC is guaranteed by BlockBank, giving you complete certainty whilst you earn interest. With the BlockBank application V2 update arriving in Q3 this year, you will be able to view your live portfolio and receive monthly payouts, all with no deposit and withdrawal fees or limits.
Generating a passive income by obtaining the best interest rate is on everyone’s mind nowadays. In fact over the years, interest rates in traditional banking have decreased close to zero, making it hard for you to earn a passive income on your assets. The US national average for a traditional savings account hovers around 0.07% per year, with high-yield savings accounts at around 1%, still nothing to rave about.
BlockBank’s high-yield alternative to traditional savings accounts offers competitive APY on your USDC, a stablecoin that can always be redeemed one-to-one for USD. This means, by lending your USDC to BlockBank, you can earn between 60x more than the traditional savings accounts and 4x more of high-yield savings accounts.
Recently investors have seen the rise of crypto interest accounts that offer attractive rates on customers’ assets. While the high interest rates are appealing, they can present varying levels of risk. When you read the full terms and conditions, you may find that your