[Disclaimer: Please do your own independent research on any crypto-related services. DDI’s editors have not used and have no opinion about this service.]
As we see now the rise of crypto-lending companies and saving services they provide, it’s a good time to put assets at work instead of keeping the money idle. Grow your assets and earn crypto with almost zero efforts. Earn 25.5% quarterly bitcoin interest with MyCoinChain Interest Account.
So, rather than just hold your BTC waiting for future earnings, you can use interest account services and claim rewards now. Don’t tuck your bitcoins away in a cold wallet or cash out before time — put those assets to generate profit. It takes a few minutes and a minimum deposit of 0.0060 BTC to start.
What is a MyCoinChain Interest Account?
Interest Account is a flagship service from MyCoinChain crypto-lending platform. It works similar to a bank savings account. If you want to earn interest, you send your bitcoin to the wallet you create on their platform. From this day forward, MyCoinChain accrues interest on your deposit.
But how does MyCoinChain earn the interest? The platform lends a part of your BTC to its users and shares a part of the interest earned that way to you. We bring deposits from the Interest account together and offer that aggregated amount to borrowers. Thus, your assets work while you’re sleeping.
How to earn money from a Bitcoin Interest Account?
Extracting additional value from your bitcoins begins with signing up on the MyCoinChain platform. Clicking this link brings you to the home page.
The next step is to top up your MyCoinChain wallet with BTC. After, go to the Deposit tab, which is shown in Figure 1 below. Here, you can deposit and withdraw bitcoins and other assets in one click. In case if you get stuck along the way, reach out to MyCoinChain support to get the help you need.
You can monitor and watch as your Interest is accrued daily at 14:00 UTC, while interest payments are processed quarterly, on the first day of the next month, at the same hour.
There is a 3 month lockup period in the Interest Account in order to generate the highest yield. The minimum bitcoin investment period is 3 months, and the maximum period is unlimited. You can request withdrawal of your deposit whenever you want. Furthermore, you will not lose one penny of accrued interest.
How much bitcoin can I earn in the Interest Account?
MyCoinChain pays interest on many assets, but bitcoin is their strong suit. The base rate on BTC is 25.5% APY (stands for annual percentage yield). As far as we know, there is no higher rate on the market.
If that’s not enough, there are two ways to increase the income earned.
Increase your Quarterly payout
To boost your income earned, all you need to do is to meet MyCoinChain’s requirements to receive a bonus.
Tier Deposit Amount Bonus
Tier 1 0–0.25 BTC $15
Tier 2 0.26–0.5 BTC $20
Tier 3 0.51–0.75 BTC $40
Tier 4 0.76–1 BTC $75
Tier 5 1–2 BTC $150
Tier 6 2–6 BTC $250
The maximum interest for bitcoin is 25.5% APY and the deposit bonus maximum is $250 for 6+ BTC. This bonus will be added to the balance and will be able to withdraw in the first quarter. Alternatively, the bonus will be added to your wallet and accumulate interest after the first quarter has elapsed.
If you need to exchange your other cryptocurrencies to bitcoin there is a built in instant exchange. Or you can trade them on other exchanges. Find more information & links in the Help Center.
What about platform fees
MyCoinChain charge zero fees for using an Interest Account. Moreover, you pay nothing for deposits and withdrawals. Long story short, you won’t find yourself spending a pretty penny on hidden service fees.
How secure are my assets in the MyCoinChain Interest Account?
MyCoinChain is a licensed and regulated financial institution based in Europe, Sweden. Since they were founded in 2017, they’ve helped tens of thousands of users from all over the world to earn, lend and exchange their assets. If you’re wondering how the process works, we’ve taken the initiative and tested their platform out with a 1.2 BTC deposit. Our results are below:
Interest after one week
Over one month worth of interest!
Furthermore, your bitcoins are stored safely by BitGo Trust Company, a qualified custodian. Custodial assets held by BitGo are insured for up to $100 million. Insurance syndicates via Lloyd’s marketplace.
MyCoinChain, will be releasing support to more cryptocurrencies as early as 2021
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Earn Interest on Bitcoin With This Interest Account in 2021 (Safely) was originally published in The Moon on Medium, where people are continuing the conversation by highlighting and responding to this story.