Since the March 2020 crash that affected all financial markets, many of the top cryptocurrencies have had a tough time recovering. Especially Litecoin (LTC). However, the tide seems to be turning in a favorable direction once again. With retail trading on the rise and an optimistic outlook for a “v-shaped” economic recovery, LTC is on the minds of crypto enthusiasts once again. To celebrate, YouHodler is offering a Litecoin savings account where you can earn 5.5% APY on your Litecoin.
After announcing EOS savings accounts just last week, YouHodler is happy once again to welcome a new member to our family. Litecoin is the 16th digital asset that users can earn interest on with YouHodler. Here’s how to start earning 5.5% APY on YouHodler today:
Step 1: Deposit LTC to your YouHodler wallet
Step 2: Sign the Savings Reward Agreement
Step 3: Watch as your crypto earn interest every day.
Interest earnings are calculated every four hours and paid out every seven days. Interest payments are received in whatever crypto you have in that wallet, which in this case is Litecoin. All YouHodler savings accounts have compounding interest, meaning you are not just earning interest at a flat rate, but interest will be paid on previous interest accumulated over time. This leads to an increased earning potential that lets you earn more the longer you “HODL” (see the chart above).
Several crypto price analysis predicts LTC is at the beginning of a bullish future. Hence, opening up an interest account now sets yourself up for future profit. Not only are you earning 5.5% APY, but you also keep the profits from the coin's natural price growth. Analysts predict Litecoin will beak above the upper trend line in the next couple of weeks or months, the first major target is $83, which was LTC’s pre-COVID-19 high.
Of course, there are several factors that contribute to this massive price growth and none of them are for certain. That’s why this interest account is beneficial. You earn a certain amount of guaranteed interest each week on your crypto regardless of the market situation. Furthermore, HODLing LTC on YouHodler opens the doors to further realms of possibility like using Multi HODL in conjunction with interest accounts.
Using YouHodler savings accounts with Multi HODL is the perfect, two-headed approach to both a smart, passive investment strategy combined with a riskier and potentially profitable trading tool. By leaving a larger sum in your savings account (e.g. 70%) and taking the other 30% to use in Multi HODL, you are increasing your chances for profit while not risking your entire portfolio.
This is an intelligent way to be an “active HODLer” while taking full advantage of LTC’s volatility in the coming months. As you can see, we’re very excited about this new interest account and we hope you enjoy it too. Start exploring all you can do with Litecoin on YouHodler today.