Putting your money in the bank has long been synonymous with passive income. Thanks to the interest rate on your savings account, you would make money at the end of the year with every euro you placed. Unfortunately, interest rates have dropped significantly these days. So much so that more and more banks are charging negative interest rates. In other words, it will be expensive to leave your money in the bank! The advent of cryptocurrency is poised to cut corners in the field. Let’s find out more about the Gemini initiative.
Your paid crypto savings!
Gemini is the name of the crypto exchange created by brothers Tyler and Cameron Winklevoss. On Tuesday, February 2, 2021, the Gemini start-up announced that it had launched a new service called “Earn” (“Gagner” in French). The aim of this service is to offer its customers savings support. Users can deposit their cryptocurrency like Bitcoin, Ethereum, Litecoin, etc. In return, your savings will be paid like a traditional savings account.
And to say the least, the interest rates announced by Gemini are attractive! Gemini gives annual rates of around 7.4%! These rates are significantly higher than those calculated by banks today. For example, in the US, the average annual interest rate is 0.05% or 100 times less!
« We believe we can get the best of both worlds (traditional banking and cryptocurrency) and offer it to our customers. »
The service can be used with the 26 cryptocurrencies managed by Gemini products. Although Gemini services are also available in England and Canada, the « Earn » program is currently only available to US customers. With these interest programs, Gemini intends to borrow the right solutions from the banking system and apply them to crypto.
On The Way To Developing A Passive Crypto Income?
The creation of passive income is a major issue for cryptocurrencies today. In this area, DeFi applications already enable the generation of income. However, DeFi is not yet a popular concept and is understood by everyone. Therefore, the challenge for cryptos is to be able to offer attractive interest rates. This would surely convince the most reluctant investors to look into crypto.
The offer launched by Gemini therefore comes at an opportune time and could snowball. Currently, more and more interest-bearing savings products are being produced. Recently, BlockFi, a startup owned by billionaire Peter Thiel, announced that it is offering annual crypto interest rates of 8.6%.
Geminis won’t stop there. In January Gemini announced that it had acquired the start-up Blockrize. With this acquisition, Gemini intends to soon offer crypto credit cards that would generate cashbacks of around 3% on Bitcoin or other cryptography. The future of crypto lies in passive income!
What are the cryptocurrencies of the future?
Cryptocurrency: 7 virtual currencies will follow in 2021
- Bitcoin: the benchmark cryptocurrency. …
- Ethereum: the most widely used bitcoin and crypto challenger. …
- Binance Coin: The crypto that invites you to join the big leagues. …
- Ripple: much more than a crypto, a passport for decentralized finance.
How do I choose my cryptocurrency?
In which cryptocurrencies should be invested?
- The right reflexes for investing in cryptocurrencies.
- Know your investor profile.
- Give Bitcoin and Ethereum their place.
- Take a keen interest in the asset’s value proposition.
- Understand the underlying technology.
What is the future of bitcoin?
JP Morgan believes the price of Bitcoin could hit $ 146,000 in the long run. Bitcoin ended the year with a record 300% increase over 2020.
What are the best cryptocurrencies?
What are the best cryptocurrencies of the year?
- Bitcoin – cryptocurrency No. 1. …
- Ethereum – cryptocurrency No. 2. …
- Ripple – Cryptocurrency No. 3. …
- Bitcoin Cash – cryptocurrency No. 4. …
- Litecoin – cryptocurrency No. 5. …
- Cardano – cryptocurrency no.6 …
- NEO – cryptocurrency no.7 …
- 1- Go to the Alvexo online trading platform:
What is the most stable cryptocurrency?
Ethereum It is the most stable currency and the currency that has grown the most in recent months.
Which stable corner?
A stable coin is nothing more than the representation of a currency unit in a blockchain. It is therefore a token whose value is fixed – for a stable euro coin, 1 token = 1 euro.
How to invest in Bitcoin in 2020
How do I invest in Bitcoin in 5 steps?
- Register with Bitcoin Trader using this link.
- Create an account on the broker platform.
- Fund your account.
- Select Bitcoin and click u201c buy u201d
- Open a Bitcoin trading position.
Does Bitcoin Pay?
For its first known price in 2010, a bitcoin was worth less than a dollar. In early 2017, the company was trading for around $ 1,000 before skyrocketing to year-end, posting an annual profitability of 1.303%! … The price of a Bitcoin will rise from almost USD 20,000 to USD 13,500 in two weeks.
How does Bitcoin gain value?
Bitcoin, a volatile asset As with these other assets, the value of Bitcoin is determined by supply and demand in marketplaces. Economic operators always start offers to buy and sell at a price that they set based on their own analysis.
What is the price of Bitcoin in January 2020?
|Bitcoin price in US dollars|
Which crypto should be invested in 2021?
|Surname, surname||Market capitalization||Number in circulation|
|Ethereum (ETH)||+ 134 billion euros||114 M.|
|Ripple (XRP)||+ 10.3 billion euros||45.4 billion|
|Bitcoin Cash (BCH)||over EUR 6.9 billion||18.6 M.|
|Tether (USDT)||more than 50.5 billion euros||24 billion|
Which stocks should be bought in 2021?
Seven new promotions
- Linedata: goal 36.30 euros. The software specialist for the financial sector held up well in 2020. …
- Haulotte: target 7 euros. …
- Hexaom: goal 42 euros. …
- Lacroix: goal 34.50 euros. …
- Reworld Media: target 4.1 euros. …
- Vilmorin: goal 55 euros. …
- Wellenstein: goal 35.10 euros.
Which crypto should you buy in 2020?
In our opinion, the most promising cryptocurrencies for 2020 and in the coming years are the Tezos (XTZ), the Stellar Lumens (XLM) and the ChainLink (LINK), whose prices have risen sharply in recent months.