Coinmonks
Published in

Coinmonks

Best High Yield Cryptocurrency Accounts: A Review [July 2022]

Nexo

Hodlnaut

Cake DeFi

  • Staking: Allocate DFI for entry into staking to earn returns ranging between 30–40%. There are no fees to stake/ unstake assets. Staking is done on a flexible term, with no minimum contract period. Rewards are paid out in DFI twice daily, and as such compounded with the capital.
  • Liquidity mining: Allocate 2 assets of equal value into liquidity mining pools, such as Bitcoin-DFI, Ethereum-DFI, USDT-DFI etc, to generate returns of up to 100% APR (depending on market conditions). Rewards are paid out twice daily mainly in DFI, and can be auto-staked to generate further compounding interests. The recent introduction of decentralized assets represents a revolution in decentralized finance, enabling investors to double dip in the best of both worlds of investing in stocks/ ETFs/ precious metals, with the high yields of cryptocurrency!
  • Lending: With lending, assets (Bitcoin/ Ethereum/ USDT/ USDC) are locked in tenures of 1 month duration, with guaranteed base APYs and potential returns should the price of the asset exceed a certain target, on expiry of the term.
  • Freezer: The freezer can be likened to a loyalty programme, whereby investors lock their funds in liquidity mining/ staking for a fixed period of time ranging from monthly up to 10 years, in return for increased returns.
  • Borrow: Use DFI as collateral to borrow assets at an affordable APR of 5%. Invest your borrowed funds into any of Cake DeFi’s offerings which offer high yields, easily offsetting the loan interests!

YouHodler

BlockFi

In Summary

  • Nexo is a versatile platform that strikes a good balance between an attractive yield, free withdrawals and an attractive signup bonus.
  • Cake DeFi makes generating passive cashflow easy, with the entire suite of services offered such as staking, lending and liquidity mining. It also has the highest ROI in terms of signup bonus, giving users an immediate $50 bonus in DFI on a qualifying $50 deposit. However, do note that the $50 bonus in DFI is locked in the freezer for 180 days before being free to be withdrawn, whilst the $50 capital is free to be used after the 1 month holding period in lending/ staking or LM freezer required to qualify for the bonus.
  • Youhodler offers one of the highest interest rates in the market especially for stablecoins, with an attractive withdrawal fee on the BEP20 network.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Trader FX

A tech enthusiast, trader and zealous writer passionate in cryptocurrency, finance and passive income. 4x Top Writer in Finance, Bitcoin, Investing, Technology.