For the third time this month, YouHodler is releasing yet another feature for our loyal community. Starting right now, you can earn 5.5% APY on your Bitcoin Cash (BCH) deposits, giving you a chance to earn a stable, passive income on one of the industry’s most popular cryptocurrencies. With BCH’s future set to be volatile and mostly positive, this is a great chance to get in early to capitalize on some profit opportunities.
Just like Litecoin (LTC) and EOS high interest savings account released this month, Bitcoin Cash will also feature a 5.5% interest rate. As always, this is a compounding interest rate meaning after each weekly payment, your BCH continues to earn interest on the previous week’s interest if the total balance is left untouched. As a result, users earn interest that gradually accumulates more and more over time instead of just a fixed, linear amount each week.
Compared to nearly 0% interest rates found at banks, 5.5% APY is an attractive offer for those looking for passive income with low risk. Furthermore, YouHodler users don’t need to lock their funds or invest in a native token to unlock these rates. To earn 5.5% on your BCH, simply follow these steps:
Step 1: Deposit BCH
Step 2: If you haven’t already done so, sign the Savings Reward Agreement
Step 3: Watch your BCH earn interest daily (calculations every 4 hours with weekly payouts)
According to crypto chart analysts, the long-term potential for BCH looks bullish. After BCH experienced a strong push upwards in early October, the market responded to some volatility, a sign of healthy activity. This opens up a lot of opportunities for longing BCH on Multi HODL for example.
At time of writing, Bitcoin Cash looks to remain in a bullish trend, flitting in and out of the overbought zone. Buying BCH now and opening a high-interest savings account on YouHodler guarantees you 5.5% APY per year plus any additional profit one could get from BCH’s natural growth. On top of that, users now have the chance to use their Bitcoin Cash savings account in cooperation with our Multi HODL tool to multiply BCH up to x10.
Sure, earning 5.5% APY with minimal effort is great but why stop there? There are far great opportunities on the horizon and you can get them with a little extra work. The best part is, this doesn’t require much risk at all. That’s because the Barbell Strategy is a proven method that helps one balance their risk effectively so they are getting the best of both safe, stable growth while simultaneously taking advantage of profitable scenarios that come with slightly higher risk.
To do this, simply keep a portion of your BCH in your savings account (e.g. 70%) and take the other 30% to use in Multi HODL. With the market’s volatility lately, it’s simple to choose “up” or “down” on Multi HODL, watch the market respond, and multiply your BCH up to x10. At YouHodler, we like to be your “highway to crypto”, giving you fast and direct access to your destination of choice while also giving you many options to exit whenever you want.