Much like the standard banking system, for crypto hoddlers (people who keep hold of their coins), it might be worth trying to gain interest from your crypto investment instead of leaving it in cold storage.
There are a number of platforms that allow you to invest your crypto and earn interest from it which I have listed below.
CakeDefi
CakeDefi offers you the opportunity to earn annual yields on your crypto at the following rates (correct as of 25/8/2021).
Of course you need to be wary of trading fees and withdrawal fees but if you are prepared to keep some of your crypto invested and want to earn some interest this is a great way to do it.
CoinBase
A few of you may already hold crypto in CoinBase if you have taken part in their ‘learn and earn’ quizzes. Why not change the coins that you have into coins that can earn you some interest and you can keep yourself in the CoinBase eco system.
Coinbase are currently offering the following rates (correct as of 25/8/2021).
When going for interest with crypto please remember that crypto is volatile. You need to weigh up the possibility that your investment could go down while it is ‘locked in’. You also need to think about transfer costs and withdrawal costs associated with crypto. This could affect how much you make.