What is Cardano (ADA)? How to earn crypto
Cardano is an open-source, public blockchain for constructing and operating smart contracts and other decentralized protocols. The project was created by Ethereum co-founder Charles Hoskinson which led to many in the industry calling Cardano “the Ethereum killer.” Unlike many blockchains before it, Cardano never had an initial whitepaper but it was the very first peer-reviewed blockchain ever and has been developed by several academic experts in the field.
ADA savings account: Why earn interest on crypto with YouHodler
Since Cardano uses the proof-of-stake protocol, ADA holders can stake their ADA via ADA staking pools. However, that is not always accessible for beginner and intermediate crypto enthusiasts. Hence, earning interest on ADA with YouHodler is a user-friendly and profitable alternative to staking pools. Here are a few additional reasons to earn interest in crypto with YouHodler:
Earn ADA with 5.65% High-yield savings accounts: On YouHodler, clients can earn 5.5% APR + compounding interest on all ADA deposits. There is no need to run your own Cardano node or try to figure out complex DeFi protocols. Simply deposit ADA and start earning immediately. 5.65% is also much higher than your traditional bank savings account. So what are you waiting for?
Industry-best asset security: At YouHodler, we take our cryptocurrency security. That’s why we only use industry-best practices when it comes to asset storage. We never keep funds completely in hot wallets. Instead, we use an efficient mixture of both hot and cold wallets to increase the standards of security. YouHodler is also backed by Ledger Vault’s pooled-crime insurance and we run monthly security audits.
Zero fee crypto interest payments: YouHodler pays interest rewards every week. Every seven days from the date of your deposit, you’ll receive your interest paid directly to your wallet with zero fees included. The funds are never locked and clients can choose to withdraw the reward immediately, or keep HODLing to earn more compounding interest.
Why should you eExplore other ways to earn interest in crypto with YouHodler
ADA is just one option to earn interest on crypto with YouHodler. Visit our Earn Interest page to see the wide variety of stablecoins, and cryptocurrencies to choose from. Earn interest in Bitcoin, Chainlink, Ethereum, Ripple, Dogecoin, and many more. Don’t just HODL your crypto in a wallet. Put it to work for you and maximize your earning potential.
Cardano saving wallet App that pays interest
YouHodler wallet app is the only application where you can store your Cardano (ADA) just like you would in a regular wallet but in addition, earn interest on that ADA wallet balance every week.
How does ADA interest work
You can earn interest on ADA just like you would with a traditional bank savings account but with one key difference. Instead of near to zero interest rates at banks, we offer you 5.65% interest on Cardano.
How to Earn Free ADA
It’s easy! Just deposit ADA to your YouHodler wallet and you’ll earn free ADA every week.
How to Get Free ADA
Interest payments occur every seven days. So you’ll get your free ADA a week after your first deposit.
Cumulative Interest ADA
Yes, you have cumulative interest if you HODL ADA in the wallet. We calculate compound interest rates every week.
ADA APY & Yield
Compared to other platforms, we offer APY instead of APR. APR gives you interest payments without the compounding effect. Hence, with APY at YouHodler, you get more ADA at the end of the year due to this cumulative interest.
ADA Savings Calculator
Just use our ADA Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.