Earn Interest on Serum - SRM Savings Account
YouHodler’s list of options to choose from for crypto savings accounts continues to grow. These low risk, high yield savings accounts help users earn interest on crypto up to 3.04% per year with compounding interest. Serum (SRM) is a popular choice in the market. Here’s some information additional facts on Serum (SRM) and also learn how to easily accumulate crypto interest on YouHodler.
What is Serum (SRM)?
Serum is a decentralized cryptocurrency exchange (DEX) built on the Solana blockchain. While most DEXs are built on the Ethereum blockchain, Serum decided to go another route after the team behind the project noticed Ethereum was not powerful enough for the big plans they had in mind. Serum is one of the first large projects to be built on Solana and works with a variety of top cryptocurrencies and tokens.
Unlike other DEX, Solana has an order-book-based trading feature much like centralized cryptocurrency trading. This makes sense as Sam Bankman-Fried–creator of the FTX exchange–is one of the masterminds behind Serum. So while it may look like some of its centralized exchange cousins, Serum behaves much differently.
Serum can handle anywhere between 50,000 and 65,000 transactions per second. In addition, anyone can build their own DEX on top of the Serum DEX and support any additional trading pairs.
SRM is the native token for the Serum DEX and exists on the Solana blockchain and as an ERC-20 token on the Ethereum blockchain. Most notably, SRM is used for staking on the Serum DEX and can also be staked to reduce trading fees.
How to earn 3.04% interest on SRM
Step 1: Sign-in or sign up to YouHodler (iOS, Android, and Web version available)
Step 2: Deposit SRM to your personal Serum wallet
Step 3. Watch as your SRM earns a compounding interest of 3.04% APY.
Step 4: Get paid! Weekly payments come every 7 days
Watch your crypto earn on YouHodler
Have you already deposited SRM to your Serum wallet? Congratulations! Now, all you have to do is watch. That’s right. YouHodler wants to make HODLing easy for you. Once the SRM coins are in your wallet, they will start generating 3.04% interest immediately. You can also use the SRM in your wallet as collateral for a crypto-backed loan or multiply SRM with Multi HODL or Turbocharge. YouHodler never locks your funds. You are free to withdraw at any moment. Just remember when you withdraw SRM, you will stop generating interest.
Serum saving wallet app that pays interest
YouHodler wallet app is the only application where you can store your Serum (SRM) just like you would in a regular wallet but in addition, earn interest on that SRM wallet balance every week.
How does SRM interest work
You can earn interest on SRM 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 3.04% interest on SRM.
How to Earn Free SRM
It’s easy! Just deposit SRM to your YouHodler wallet and you’ll earn free SRM every week.
How to Get Free SRM
Interest payments occur every seven days. So you’ll get your free SRM a week after your first deposit.
Cumulative Interest SRM
Yes, you have cumulative interest if you HODL SRM in the wallet. We calculate compound interest rates every week.
SRM 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 SRM at the end of the year due to this cumulative interest.
SRM Savings Calculator
Just use our SRM Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.