Block Bank It will enable its users to earn interest on the stable currency USD Coin (USDC) at an interest rate of up to 60 times the national average of traditional savings accounts in the United States.
Most importantly, your USDC is guaranteed by BlockBank, allowing you to be fully sure while earning interest. With the V2 update of the BlockBank app in the third quarter of this year, you will be able to view your real-time portfolio and receive monthly payments, all without deposit and withdrawal fees or restrictions.
Nowadays, everyone wants to get passive income by getting the best interest rate. In fact, the interest rates of traditional banks have fallen to close to zero over the years, making it difficult for you to earn passive income from assets. The national average of traditional savings accounts in the United States hovers around 0.07% a year, while the average of high-yield savings accounts is around 1%, which is still nothing to fuss about.
BlockBank’s high-yield alternative to traditional savings accounts provides your USDC with a competitive APY, which is a stable currency that can always be exchanged for U.S. dollars one-to-one. This means that by lending your USDC to BlockBank, you can get 60 times more income than a traditional savings account and 4 times the income of a high-yield savings account.
Recently, investors have seen the rise of crypto interest accounts, which provide attractive interest rates for clients’ assets. Although high interest rates are attractive, they may bring varying degrees of risk. When you read the complete terms and conditions, you may find that your assets are lent to an unidentified third party and are affected by their credit risk, which may result in the complete loss of your encrypted assets.
BlockBank hopes to provide its customers with the opportunity to earn more interest than traditional banks, while also providing a safe, safe and reliable earning method. This is why BlockBank is proud to provide a principal guarantee for the USDC in your BlockBank account.
“Integration with the USDC ecosystem will enable our users to achieve high-yield APY on a risk-free and insured platform.
This shows that we will stay and compete with the top suppliers in the market. “
– Darren Franceschini, Head of Operations – BlockBank
Once V2 of the BlockBank application is available, it will be as simple as USDC into the pool, and you will automatically start earning APY on USDC in your account.
Earning your USDC safely and reliably is just the beginning-BlockBank will continue to create more beneficial ways for you to earn interest from your cryptocurrency savings. Visit the interest section of your BlockBank portfolio to see all the different ways to earn interest by holding cryptocurrencies and stablecoins.
As an open standard and public smart contract, USDC has rapidly grown into the world’s largest stablecoin industry ecosystem. Hundreds of companies, products and services support USDC standards, including digital wallets, exchanges, DeFi agreements, savings, lending, and payment services. USDC is creating value for the entire blockchain ecosystem.
Block Bank It is a one-stop solution that combines the power of decentralized and centralized technology in a simple and secure mobile and web application. The vision of BlockBank is to create an all-in-one encryption application that simplifies the user experience without compromising security, privacy or decentralization. BlockBank aims to combine the essence of the DeFi and CeFi worlds in one application, combined with the patented Robo Advisor technology, to bring financial empowerment to customers.
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