Guide to Stablecoin Yields 2023
I
n a time of cryptocurrency bear markets, many individuals now hold a significant proportion of their portfolio in stablecoins.
Our guide will look at a variety of popular crypto organizations and the stablecoin yields that can be earned using your assets.
What Is a Stablecoin?
A stablecoin is a type of cryptocurrency that is designed to minimize price volatility. Stablecoins are often pegged to a fiat currency or commodity, such as gold.
The most popular stablecoins are USD-backed (USDt, USDC, TUSD, PAX) or Euro-backed (EURS). There are also stablecoins pegged to commodities like gold (XAUT) or oil (USO).
The purpose of stablecoins is to provide a more stable store of value and medium of exchange than volatile cryptocurrencies like Bitcoin. They can also be used to hedge against fiat currency inflation.
Stablecoins have become increasingly popular in recent years as the crypto market has become more mature. Investors are looking for ways to minimize risk and maximize returns in the volatile crypto markets.
The yield on stablecoins varies depending on the type of coin and the peg. USD-backed stablecoins tend to have lower yields than commodity-backed coins.
Let's take a look at stablecoin yields across several organizations.
Stablecoin Yields on CoinLoan
CoinLoan is a lending platform that allows users to borrow and trade cryptocurrencies. It offers a variety of products and services, including stablecoin yields, loans, and interest-bearing accounts.
The CoinLoan token is used to access these services. Users can earn interest on stablecoins by holding them in their accounts. Loans can be taken out against stablecoins or other collateral. Collateral can also be traded on the platform.
The CoinLoan platform is designed to offer users a simple way to access the world of cryptocurrencies. It provides a variety of products and services that can be accessed using the CoinLoan token. These include stablecoin yields, loans, and interest-bearing accounts.
The platform is easy to use and offers a variety of features that make it an attractive option for those looking to get involved in the world of cryptocurrencies.
Currently, CoinLoan offers interest rates on USD-backed stablecoins as well as other stablecoin currencies such as Euros and GBP.
To earn interest on your stablecoins, you simply deposit them into your CoinLoan account and choose a loan term. Interest is paid out daily and you can withdraw your coins at any time.
CoinLoan also offers a unique feature called Auto-invest which allows you to automatically reinvest your interest earnings into new loans. This feature compounds your interest earnings and helps you grow your stablecoin balance more quickly.
The following table illustrates the stablecoin yields that can be earned on CoinLoan:
| Deposit assets | Reward assets | APY Rate |
|---|
Data provided by Seedling
Stablecoin Yields on Crypto.com
Crypto.com is a cryptocurrency-focused financial service platform founded in 2016. It offers users a wide range of products and services, including an intuitive exchange, wallets, debit cards, loan and investment options, and more. The platform is available to users all over the world, with support for multiple fiat currencies and cryptocurrencies.
Crypto.com's mission is to bring the power of blockchain technology to everyone around the world by making digital assets easy to use and accessible. To that end, they have built a comprehensive suite of products designed to help users access and take advantage of digital currency in their everyday lives.
The Crypto Exchange serves as the centerpiece of the Crypto.com platform; it allows traders to buy, sell, and trade digital assets such as Bitcoin, Ethereum, and other coins. Crypto.com offers a wide range of features on the exchange, including advanced order types, margin trading and lending options, and a variety of research tools.
The Crypto Wallet is another key feature of the platform; it provides users with secure storage for their digital assets using industry-leading security measures. The wallet supports hundreds of different cryptocurrencies and allows users to easily monitor their holdings and send or receive funds from other wallets.
Crypto.com also offers its own Visa Debit Card, which allows users to make purchases in stores or online with their crypto assets held in the Crypto Wallet. The card also provides cashback rewards when used at participating merchants and gives users access to discounts and other benefits.
The following table illustrates the stablecoin yields that can be earned on Crypto.com:
| Deposit assets | Reward assets | APY Rate |
|---|---|---|
0.10% - flexible | ||
0.10% - flexible | ||
0.10% - flexible | ||
0.40% - flexible | ||
0.40% - flexible | ||
0.40% - flexible | ||
0.10% - flexible | ||
0.10% - flexible | ||
0.10% - flexible |
Data provided by Seedling
Stablecoin Yields on Binance
Binance is a cryptocurrency exchange platform founded by Changpeng Zhao in 2017. It is one of the largest and most well-known crypto exchanges in the world, offering trading options for over 150 different digital assets.
The platform also features an advanced trading engine that enables users to trade at lightning speed, with low latency and support for up to 1 million transactions per second. Additionally, Binance has its own native token, BNB, which offers holders discounts on trading fees as well as access to exclusive services such as staking pools or margin trading.
Binance also boasts its own decentralized exchange (DEX) and blockchain called Binance Chain. The exchange regularly updates its security protocols to ensure the safety of their users' funds and data.
On top of this, the platform also offers users a wide range of services such as staking, margin trading, and lending.
One popular way to make use of these services is by earning interest on stablecoin deposits. Binance provides users with the option to earn interest on their USDT (tether), USDC (circle us dollar coin) or BUSD (binance us dollar stablecoin) deposits held in their accounts. This means that users can effectively earn passive income just by holding their coins in a Binance account.
The following table illustrates the stablecoin yields that can be earned on Binance:
| Deposit assets | Reward assets | APY Rate |
|---|---|---|
0.37% - flexible | ||
0.43% - flexible | ||
0.93% - flexible | ||
10.0% - 0-2000 TUSD, flexible | ||
2.32% - flexible | ||
1.12% - flexible | ||
2.32% - flexible | ||
1.50% - 0-500 USDT, flexible |
Data provided by Seedling
Stablecoin Yields on Abra
Abra is a digital wallet that allows you to store, send, and receive money. You can also use Abra to buy, sell, and hold cryptocurrencies. The company is based in the US, with offices in San Francisco and Manila.
Abra offers a variety of products and services that can be used to earn, borrow, and trade. You can use Abra to earn interest on stablecoins, borrow against your crypto holdings, or trade cryptocurrencies.
Abra allows you to borrow against your crypto holdings. This means that you can take out a loan using your cryptocurrencies as collateral.
To borrow against your crypto holdings, simply deposit them into your Abra wallet and select the Borrow tab. Abra will then give you a loan in US dollars or other fiat currency. The loan will be equal to the value of your collateral minus a borrowing fee.
You can use Abra to earn stablecoin yields. Stablecoins are digital currencies that are pegged to the US dollar or other fiat currency. This means that they maintain a stable value despite fluctuations in the market.
To earn interest on your stablecoins, simply deposit them into your Abra wallet and select the Earn tab. Abra will then deposit your earnings into your wallet daily.
Abra currently supports six different stablecoins: USD Coin (USDC), Paxos Standard Token (PAX), TrueUSD (TUSD), Gemini Dollar (GUSD), Dai (DAI), and Stasis EURS (EURS).
The following table illustrates the stablecoin yields that can be earned on Abra:
| Deposit assets | Reward assets | APY Rate |
|---|---|---|
7.00% - flexible | ||
7.00% - flexible | ||
10.0% - flexible |
Data provided by Seedling
Stablecoin Yields on Bitrue
Bitrue is a cryptocurrency exchange that offers services such as spot and derivative trading, borrowing and earning interest on stablecoins. The company is based in Singapore with offices in Japan, South Korea, and the Philippines.
It has a user-friendly interface and allows users to trade in a variety of cryptocurrencies. Bitrue also offers rewards for using its platform.
Bitrue offers a variety of services including crypto trading, interest-bearing accounts, and loans. You can use Bitrue to earn interest on your stablecoins.
Bitrue allows users to trade in a variety of cryptocurrencies. To start trading, users need to create an account and deposit funds. Once the account is funded, users can start trading. Bitrue offers a variety of trading pairs and also allows users to margin trade.
Bitrue allows users to borrow against their cryptocurrency holdings. To borrow, users need to deposit their collateral and request a loan. The loan is paid out in the form of the stablecoin that was deposited as collateral. The interest on the loan is variable and is paid in the form of the stablecoin that was borrowed.
Bitrue offers interest on stablecoins. To earn stablecoin yields, users need to deposit their stablecoins into their Bitrue account and hold them for some time. The interest is paid out in the form of the stablecoin that was deposited.
Bitrue currently supports six different stablecoins: USD Coin (USDC), Paxos Standard Token (PAX), TrueUSD (TUSD), Gemini Dollar (GUSD), Dai (DAI), and Stasis EURS (EURS).
Bitrue is a good choice for those who want to trade or earn interest on cryptocurrencies.
The following table illustrates the stablecoin yields that can be earned on Bitrue:
| Deposit assets | Reward assets | APY Rate |
|---|
Data provided by Seedling
Stablecoin Yields on YouHodler
YouHodler is a cryptocurrency lending platform that allows you to earn interest on your digital assets and also trade them. The company is based in Switzerland with offices in the US, UK, and Russia.
YouHodler is a lending and borrowing platform that offers crypto-backed loans. This means that you can use your cryptocurrency as collateral to take out a loan in fiat currency or stablecoins. YouHodler also allows you to trade cryptocurrencies and earn interest on your holdings.
YouHodler offers a variety of services including crypto trading, interest-bearing accounts, and loans. You can use YouHodler to earn interest on your stablecoins.
YouHodler's products and services include:
- Crypto-backed loans: You can use your cryptocurrency as collateral to take out a loan in fiat currency or stablecoins. The loan terms are flexible and you can choose to repay the loan over 1-12 months.
- Trading: You can trade cryptocurrencies on the YouHodler platform. The platform supports a variety of pairs, including BTC/USD, ETH/USD, and XRP/USD.
- Interest: You can earn interest on your cryptocurrency holdings by lending them to other users on the platform. The interest rates are variable and depend on the loan terms
YouHodler currently supports eight different stablecoin yields: USD Coin (USDC), Paxos Standard Token (PAX), TrueUSD (TUSD), Gemini Dollar (GUSD), Dai (DAI), Stasis EURS (EURS), Tether (USDT), and Binance USD (BUSD).
YouHodler also offers a unique feature called the Multi-HODL service. With Multi-HODL, you can deposit multiple cryptocurrencies and receive loans in stablecoins. This allows you to trade your cryptocurrencies without selling them.
YouHodler is a convenient and user-friendly platform that allows you to access a variety of financial services in one place. The platform is designed for both beginners and experienced users. Whether you're looking to take out a loan or trade cryptocurrencies, YouHodler is a great option.
The following table illustrates the stablecoin yields that can be earned on YouHodler:
| Deposit assets | Reward assets | APY Rate |
|---|
Data provided by Seedling
Is Earning Stablecoins Yields Safe?
When it comes to earning interest on your crypto, there are a few things to consider to ensure safety and security.
First, make sure you are using a reputable platform like BlockFi, AAX, Abra, Bitrue, or YouHodler that is insured and backed by well-known investors.
Second, always remember to diversify your portfolio across multiple assets and platforms to minimize risk.
Finally, keep an eye on the terms and conditions of each interest-bearing account so you know exactly how your funds are being used and what the risks are
Earning stablecoin yields is a safe and easy way to grow your cryptocurrency portfolio with little effort on your part.
Chris
An editor at CoincropChris is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.
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