Deposit USD Coin (USDC) on a Savings Account and Earn Interest

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Many exchange platforms are trying to promote USDC adoption by letting investors earn interest when they deposit USDC with them. It is like a wave that has started with no platform willing to be left behind. Surprisingly, reputable crypto exchange platforms give up to 7.6% pa, while others give more, which starts as soon as you register. So, why not start saving for the future?

Using a stablecoin to save is not a plan for many people. They are used to buying and selling to make a profit, but this new way has fewer risks and could see many people trying it. Imagine all you need is to deposit your USDC with a trusted platform and wait for the interest at the end of the year. Sounds great, right?

Earn USDC Interest on YouHodler

This is one of the most interesting platforms to earn interest on USDC up to 12% pa. According to financial experts, this is relatively high compared to other investments and banks. Hence, you can start to deposit USDC on this platform and start earning interest immediately. But how do you go about this?

First, newbies should know that USDC is a more stable asset that is equivalent to a US dollar. It is an easy and secure way to store your financial assets and earn interest on it when you deposit USDC on YouHodler.

For this, you will need to have a digital wallet on YouHodler. On the wallet screen, click save and follow the prompts until your USD coins are safely saved. The compounded interest will start to calculate as at the time you started.

Deposit USDC on Luno to Earn Interest

Apart from YouHodler, Luno is also another platform to deposit USDC and earn up to 7.6% pa. This is high interest that is competitive enough considering that your stablecoins are very safe. Luno has no hidden charges and your interest is paid out annually where users have the option of leaving it there to keep accumulating or withdraw it.

Another reason why you should deposit USDC on Luno is that you are in control 24/7 since there are no fixed terms involved. And of course, the platform is very safe for you.

While on the Luno platform, you need to create a saving wallet, which is created on the main wallet screen. Choose the amount of USDC you would like to save and start the journey of earning your interest.

Deposit USDC on Coinbase to Earn Interest

If you are a crypto person, you probably know a little about Coinbase. It is one of the biggest exchange platforms on the web. Now they have a new enticing add-on: saving USD coin and earning interest from it. Although the interest is relatively low at 1.25%, this is great news for Coinbase users. The Platform has promised to review this to make it more competitive. After all, it is among the first crypto exchange platforms to let users deposit USDC and earn crypto from it.

There are also many other perks that you get when you deposit USDC on Coinbase, for example securities investors protection corporation (SIPC), stablecoin insurance coverage, and more.

Precautions When Saving USDC

Well, even with all of this interesting information that we have discussed above, you are highly advised not to deposit USDC in one platform to avoid losing everything if it gets hacked, crushes or something happens. Try different platforms to reduce risks. The interest rates might differ, but it is the only way to be safe.

Conclusion

You could earn good interest when you follow the above options guidelines on how to deposit USDC on different platforms to earn interest at the end of the year. It is important that you research more to ensure that you understand everything clearly before starting the program. Start today.