Starting today, YouHodler customers can deposit the USD Coin stablecoin (USDC) on YouHodler.com and start earning interest up to 12% per annum. Following Tether (USDT), this is the second stablecoin supported on the platform with two more to follow in the near future.
At YouHodler, we provide multiple ways for users to profit from their digital assets and transform their portfolio from that of a passive hodler, to one of an active hodler. YouHodler’s Savings Accounts are a simple, hands free way to crypto earn with interest. Here’s how to earn interest on USDC in just a few quick steps:
Step 1: Navigate to your “Wallets” page on YouHodler.com
Step 2: Click the “Add funds” button on your USDC wallet
Step 3: Follow the instructions to deposit USDC into the platform
Step 4: Watch your USDC portfolio grow up to 12% per annum
To see how much interest was earned each day, check the “Earned” section of the Savings Account. At the end of each month, the whole earned amount will be automatically deposited into a Savings Account deposit. Users can “Release” it from the savings account and then withdraw or keep their funds in the account to earn more interest until the next settlement period.
Stablecoins are uniquely different than other cryptos like Bitcoin or Ether. USDC is meant to represent a single United States dollar (USD) and it doesn't move up or down relative to it. One USDC is a 1:1 representation of USD based on the Ethereum blockchain.
Every USDC stablecoin is 100% collateralized by a USD held in accounts that regularly report reserves to the public. The advantages of USDC make it easy to program, quicker to send, more convenient to use in dApss and easier to store locally than in traditional bank account-based USD.
For developers and FinTech companies like YouHodler, the USDC “digital dollar” opens up creative doors for our development team due to its ease of programmability. For example, with the private keys for USDC, a program can simply send and receive them back and forth on the Ethereum blockchain.
We are excited to explore the full capabilities of USDC on the YouHodler platform but as for right now, users can earn interest on USDC today.
So go to YouHodler.com, sign up, deposit and enjoy your life as an active hodler who can crypto earn faster. Also, stay tuned for more exciting stablecoin news this week!