Pax Dollar (USDP) Savings Account: Earn Interest on Crypto
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 8.32% per year with compounding interest. Pax Dollar (USDP) is a popular choice for stablecoins in the market. Here’s some information additional facts on USDP and also learn how to easily accumulate crypto interest on YouHodler.
What is Pax Dollar (USDP)? How to earn crypto?
The Pax Dollar (USDP) is Ethereum-based, ERC20 token that is 100% backed by the US Dollar at a ratio of 1:1. For every USDP that is traded, there is at lest 1 USD in the Paxos bank account. Much like other stablecoins, like USDC for example, USDP aims to join the stability and reliability of the USD fiat currency with the added benefits of digital currency. At nearly zero cost, USDP can be sent over the internet anywhere, to anyone, immediately. YouHodler added it to our lineup as another great option earn crypto interest on the platform.
USDP savings account: Why earn interest on crypto with YouHodler
YouHodler provides a variety of ways to profit from digital assets and with crypto savings accounts, users can unlock high yield, low risk investment tools. Here are a few reasons to earn interest on crypto with YouHodler:
- Earn crypto with High-yield savings accounts: Earn 8.32% interest per year on YouHodler. This is exceptionally higher than any “high-yield” traditional bank savings accounts and other investments. YouHodler offers its clients unlimited flexibility, allowing users to easily deposit and withdraw funds anytime, anywhere.
- Guaranteed asset security: All crypto funds on YouHodler are secured with industry-best practices when it comes to storage. Funds are never stored 100% in hot wallets. Instead, we use a mixture of hot and cold wallet storage to ensure maximum protection of users funds. Read more details about YouHodler trust and security features here.
- Crypto interest paid out weekly without any fees: At the end of each weekly settlement period, the whole earn amount of crypto interest is deposited into the users’ savings account deposit. Users can choose to release it from the savings account and withdraw, or keep the funds in the account to earn more crypto interest in the next settlement period.
Explore other ways to earn interest on crypto with YouHodler
USDP is just one option to earn interest on crypto with YouHodler. Visit our Earn Interest page to see the wide variety of stablecoin, and cryptocurrency stablecoins to choose from. Earn interest on Bitcoin, Binance Coin and much more. Earn crypto with a savings account and discover a more productive way to HODL.
USDP saving wallet App that pays interest
YouHodler wallet app is the only application where you can store your Pax Dollar (USDP) just like you would in a regular wallet but in addition, earn interest on that USDP wallet balance every week.
How does Pax Dollar interest work
You can earn interest on USDP 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 8.32% interest on USDP.
How to Earn Free USDP
It’s easy! Just deposit USDP to your YouHodler wallet and you’ll earn free PAX every week.
How to Get Free USDP
Interest payments occur every seven days. So you’ll get your free USDP a week after your first deposit.
Cumulative Interest USDP
Yes, you have cumulative interest if you HODL USDP in the wallet. We calculate compound interest rates every week.
USDP 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 USDP at the end of the year due to this cumulative interest.
USDP Savings Calculator
Just use our USDP Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.