Many methods such as crypto rewards, staking and lending are among the main ways to grow your digital assets. We have compiled a few tricks for you to increase your crypto money through rewards…
1. Coinbase learning rewards
The easiest way to start generating crypto rewards on Coinbase is with Coinbase Earn. You can get some to try for yourself in exchange for learning the basics about certain cryptocurrencies.
Since the launch of Coinbase Earn in 2018, users have purchased more than $100 million in cryptocurrencies, including 0x, Basic Attention Token, Zcash, Stellar Lumens, EOS, Dai, Tezos, Orchid, Compound, Celo, Nucypher, and the Graph. he bought.
2. Stake some of your crypto
Many cryptocurrencies now use a Proof-of-Stake consensus mechanism. This is one way their decentralized network can ensure that all transactions are verified and secured without a bank or payment processor in the middle.
With such cryptocurrencies, you can “lock” some of your assets to a staking pool for a certain period of time, earning rewards for simply contributing to the security of the network. This is an excellent option if you plan to hold the cryptocurrency for a longer period of time. Because that way you can make it work for you instead of having it idle.
Eligible users can stake Tezos, Cosmos or ETH through the main Coinbase app or website as of June 2021 and earn up to 6 percent APY (depending on the type of asset staked).
3. Convert your dollar to stablecoin
One potential downside of staking rewards is that they are paid in native cryptocurrency, which can be volatile. However, you can earn rewards by buying and holding dollar-pegged stablecoins such as Dai and USD Coin (USDC).
4. Lend some of your crypto with CeFi
Keeping the dollar in a traditional savings account and generating meaningful returns can sometimes be difficult. But stablecoins make a very similar proposition possible. A growing number of central finance (or CeFi) products have emerged that offer attractive returns to keep some of your crypto assets in stablecoin form. For example, Coinbase customers looking for a low-risk investment can start earning 4.00 percent APY via USDC. Cryptocurrency deposits are not insured or guaranteed by the FDIC or SIPC.
