This virtual wallet also offers a 7% annual return on stablecoin USDT and as for the cryptocurrencies with the highest market capitalization, it offers 3.5% for those who own Bitcoin and 4% for the owners of Ethereum.
On the other hand, Emiliano Limia, Buenbit spokesperson, told Ámbito about the options of this platform to invest in stablecoin: “With the push of a button, the user can invest their Dai in DeFi protocols to generate daily interest in this dollarized cryptocurrency. There is no minimum amount to invest ”.
“At the same time, if the investment option is activated, the entire balance will be invested. Also, if you want to withdraw the Dai, there is no type of restriction: you can withdraw a part or the total capital with a simple click, at any time, 24/7. Neither is any type of withdrawal commission charged ”, the information completed.
At Buenbit, the performance generated by DAIs is credited on a daily basis and they are also automatically capitalizedIn other words, the returns obtained in turn generate new returns. The rate of return displayed on the app screen is variable (since it depends on the rate paid by the protocols in which the user, through Buenbit, is investing their Dai).
“This implies that future returns are not guaranteed; They are estimates based on current daily performance. As of today, this yield is around 15% per year., although on average in recent months it has been around 10% per year ”, Emiliano Limia confided to this medium.
“Ripio offers USDC (the stablecoin created by Coinbase and Circle) and DAI (the stablecoin created by MakerDAO), we are soon listing other stablecoins”, he assured Ámbito, Juan José Méndez, Ripio Brand Director. To invest in cryptocurrencies there is the function Ripio Earn, which generates fixed monthly earnings, in USDC the rate is 6%, for those who have Ethereum 4% and Bitcoin 2.5% per year.
In Belo, a mobile application that allows you to buy and sell cryptocurrencies, the annual return on stablecoins such as DAI and USDT is 8.25%. In the case that Ethereum is owned, the rate is 3.5% and for Bitcoin 5.25%. From the moment they are bought, they are already yielding since the system is automatic. In addition, you can start trading from $ 1.
What is a stablecoin?
A stablecoin is a cryptocurrency that was designed to minimize price volatility and achieves this through the backing of a “stable” asset or basket of assets. Some examples are: they have a fiduciary guarantee since they are backed by an underlying government currency, with a cryptographic guarantee since they are guaranteed by one or more cryptocurrencies and algorithmic ones that depend on smart contracts.
Tether (USDT) It is the most popular stablecoin on the market and has the highest transaction volume and market capitalization. Each token was backed by one US dollar at the beginning of its creation, but since 2019 the backing changed to include loans to affiliated companies.
USD Coin (USDC) it has the backing of the US dollar. The USD Coin is an Ethereum token, so it can be stored in a wallet compatible with this digital currency. This stablecoin also has the support of the financial company Goldman Sachs.
Dai (DAI) it also maintains its value as close to the US dollar as possible through an automated smart contract system on Ethereum. Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization.
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