The Financial Stability Board and the International Monetary Fund are preparing to release a document urging worldwide cooperation on cryptocurrency policies during the upcoming G20 summit scheduled for this weekend.
The report noted that the news of SpaceX, led by Elon Musk, writing off a portion of its Bitcoin holdings in the previous quarter, played an added role in fueling the correction within the cryptocurrency markets in August.
The authorization establishes Coinbase as the pioneering crypto-centric platform to provide regulated and leveraged cryptocurrency futures in conjunction with conventional spot trading.
Here’s a quick explainer on how crypto interest accounts work. What is a crypto interest account? A crypto interest account is generally a crypto platform’s offering that lets you earn interest on digital assets that you’ve bought. You agree to lend out Bitcoin or altcoins (any cryptocurrency that isn’t Bitcoin) in exchange for interest.
For reference, traditional savings accounts with interest payouts currently max out around 2.5% APY. On average, earning interest on crypto will net you returns several times higher—especially considering 8% APY is about the cryptocurrency interest standard.
With digital assets like Bitcoin seen as less volatile due to fewer people selling Bitcoin, the case for institutional capital to enter the ecosystem becomes much stronger. We believe cryptocurrency interest accounts are a small, but very important part of maturing cryptocurrency as an asset class. Never Miss Another Opportunity!
Therefore, the interest rate in the crypto space is considerably higher than that of fiat, with some providers offering rates as high as 15% APY. With such a high yield, it’s no surprise that crypto owners are increasingly demanding reliable Crypto interest accounts to put their money to work for them.
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