Crypto Savings: Referral Links
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Quite a few platforms offer interest on your crypto and stablecoins. If you’re HODLing, you might as well get a little reward for doing so—with less risk and complexity than depositing into a DeFi protocol.
While there are lots of great platforms, I’ve used the ones below. I threw in one rewards card, Fold, too. They’re all legit.
Tap each button to get free crypto for depositing with them. The exact amount will change from time to time, depending on what promotion they’re running.
(I spread my deposits across all of these platforms. That way, if one goes under, I lose only a little bit of money.)
FWIW, I currently use CDC, Celsius, Ledn, Youhodler and NEXO. I did a pretty quick review of them all and ultimately decided to spread things around. I primarily use CDC and Celsius for CAD and the other 3 for BTC and USD coins. (Gemini, Voyageur etc are not available to Canadians)
Abra seemed like a pain to use compared to others, and I thought swaps were expensive; all for a less than average return. And Blockfi seemed ok, but the regulatory warnings they kept sending out, the below average rates and limited free withdrawals sent me elsewhere.
Tracking all the reward payments in the tax software that I use is a breeze for Celsius, requires a file download with CDC, Ledn and Nexo. And for YouHodler requires painful manually entry, or an email request to Youhodler for a CSV file. Youhodler for me, is annoying enough that I will likely transition to just the others in the new year.
I also have relatively small positions of US stable coins as UST (Anchor protocol), USDN (Waves exch.) and yvBoost (Yearn).
These deposits are all part of the cash allocation in my investment portfolio.
For the USDT I'm sitting on waiting to deploy, I generally leave it at YouHodler earning 12% because the transfers to Binance are easy and cheap as bep20 tokens.
No "science" or vast experience here; just a year of earning nice rewards on dollars that would otherwise be earning nothing (other than -6 to -10 % inflation) sitting in my bank.
Hi Mark, what about Abra?