Showing posts with label Crypto-News. Show all posts
Showing posts with label Crypto-News. Show all posts

2022/02/20

Play-to-Earn Blockchain Game Axie Infinity Surpasses $4 Billion in All-Time NFT Sales

Play-to-Earn Blockchain Game Axie Infinity Surpasses $4 Billion in All-Time NFT Sales

Play-to-Earn Blockchain Game Axie Infinity Surpasses $4 Billion in All-Time NFT Sales

This week, Axie Infinity, the blockchain-based online video game crafted by the Vietnamese software studio Sky Mavis, surpassed $4 billion in all-time non-fungible token (NFT) sales. Currently, the play-to-earn (P2E) game launched in 2018 is the third-largest NFT platform in terms of all-time sales.

The Sky Mavis Crafted Blockchain Game Axie Infinity Records More Than $4 Billion in Lifetime NFT Sales

The Ethereum-based video game Axie Infinity has been very popular during the last 12 months as the P2E pet training world has seen significant demand. The game’s native digital currency axie infinity (AXS) has increased by 2,544% against the U.S. dollar over the last year.

On the other hand, smooth love potion (SLP), hasn’t been so lucky and is down 70% in value year-to-date. Metrics indicate that there’s 53,502 AXS token holders today and out of 166,870 Axies there are 45,276 Axie owners.

This week, NFT metrics show, the project developed by Sky Mavis captured more than $4 billion worth of all-time NFT sales. Today, the average Axie Infinity sale price is $198.77 and the project has seen 1,905,222 traders, according to lifetime statistics.

With approximately $4.14 billion in all-time sales recorded at the time of writing, Axie Infinity is the third-largest NFT project in terms of all-time sales. The game’s NFT sales are below Opensea’s $21.85 billion and Looksrare’s reported $16.85 billion.

Despite the All-Time Sales Milestone, Axie Nft sales Are Down 40.58% During the Last Seven Days

While Axie Infinity is an Ethereum-based project, the game leverages the Ronin network so the network can scale without high fees and congestion issues. At the time of writing, the cross-chain Ronin Bridge has $3.3 billion total-vale locked, and it is down 15% since last week.

Statistics indicate that the Ronin-based decentralized exchange (dex) Katana is the fourth largest decentralized finance (defi) exchange in terms of volume. Katana has seen $30.8 million in 24-hour trade volume and has a balance of $475 million.

Even though all-time Axie Infinity NFT sales have crossed the $4 billion mark, sales are down 40.58% during the last seven days. Weekly statistics indicate Axie Infinity has processed $19,815,670 in sales via the Ronin blockchain. Axie NFTs last week saw 91,940 buyers across 267,906 transactions.

24-hour Axie NFT sales metrics show the project has seen $2.2 million in sales from 17,731 buyers. While Axie is the third-largest in all-time sales, it’s the fourth in 24-hour terms and the fifth over the last seven days. Over the last month, Axie placed eighth out of the top ten projects in terms of 30-day NFT sales.

What do you think about the blockchain gaming project Axie Infinity surpassing $4 billion in all-time sales? Let us know what you think about this subject in the comments section below.

The post Play-to-Earn Blockchain Game Axie Infinity Surpasses $4 Billion in All-Time NFT Sales appeared first on Coinf.in. https://ift.tt/RaimFv9
Opensea CEO Dismisses $200 Million Hack Rumor, Claims Incident Was a Phishing Attack

Opensea CEO Dismisses $200 Million Hack Rumor, Claims Incident Was a Phishing Attack

Opensea co-founder and CEO, Devin Finzer, has denied rumors that the non-fungible token (NFT) marketplace’s codebase was breached and that attackers had stolen $200 million. According to Finzer, an investigation had shown that the attacker had $1.7 million worth of ethereum in his wallet by leveraging a phishing scheme.

Attacker Reportedly Returns Some Stolen NFTs

Devin Finzer, the co-founder and CEO of Opensea has denied reports that the NFT marketplace has been breached. Instead, Finzer has characterized the alleged hacking incident as a “phishing attack,” which he insists is not connected to Opensea’s website. He did, however, admit that some of the more than 30 users that “signed a malicious payload from an attacker” had their NFTs stolen.

While Finzer did not give the estimated value of the stolen NFTs, a Twitter user named Mr. Whale suggested in a tweet, posted a few hours after the breach, that “over $200M [was] lost already.” Another user named Jacob King rejected Finzer and Opensea’s phishing attack claim. The user claims that a “flaw in their code led to one of the largest NFTs exploits in history.”

However, in a Twitter thread posted on February 20, Finzer rebuts these claims. He said an investigation had, in fact, shown that the attackers had returned some of the NFTs. He explained:

The attack doesn’t appear to be active at this point — we haven’t seen any malicious activity from the attacker’s account in 2 hours. Some of the NFTs have been returned.

Finzer also claimed that the Opensea team was not aware of any recent phishing emails that have been sent to users. The CEO said at the time when he posted the thread, the team was yet to determine the website that had been “tricking users into maliciously signing messages.”

Attackers’ Wallet Has $1.7 Million Worth of ETH

Also to back the findings of Opensea’s investigation, the CEO pointed to a more technical context of what transpired which was shared by another Twitter user Neso.

Finzer ends his thread by dismissing rumors that suggested that this was a $200 million hack. According to him, the Opensea team had determined that “the attacker has $1.7 million of ETH in his wallet from selling some of the stolen NFTs.”

Meanwhile, in another thread, Finzer said after his team got in touch with “dozens” of people and teams across the NFT space, and he is confident this was a phishing attack. He added that Opensea was now actively “working with users whose items were stolen to narrow down a set of common websites that they interacted with that might have been responsible for the malicious signatures.”

What are your thoughts on this story? Tell us what you think in the comments section below.

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Bitcoin Price Analysis: Bitcoin Just Lost This key Support; What’s Next?

Bitcoin Price Analysis: Bitcoin Just Lost This key Support; What’s Next?

In the last week, the Bitcoin (BTC) price chart showcased the bullish recovery facing rejection near $44,600, resulting in a retracement to the $39,650. However, the recent growth in selling pressure evident by the 4.65% fall over the last 24 hours results in the $39,650 fallout. Will Bitcoin prices create a bottom at the next support of $36,350?

TradingView ChartSource- Tradingview

The Bitcoin (BTC) price rally registered a 36% gain when the coin reached the $44650 mark. However, the sellers mounted stiff resistance at this level, resulting in a 6.81% retracement to $40000. On February 15th, the buyers made another bid to breach the overhead resistance, but the second rejection with an evening star pattern indicated the traders are selling on rallies.

The sustained selling has pulled the coin price below the $39600 support, threatening the continuation of the downtrend. The traders can expect a retest to the breakdown before the sellers sink the coin to January’s low($33000).

Anyhow, the traders should pay close attention to this support as a possible reversal could point to a bear trend bottom.

  • Resistance level- $39640, $44650
  • Support level- $36372, $30000

Technical indicator

The recent retracement has plunged the BTC price below the 20-and-50 EMA, reclaiming a bearish sequence among the crucial EMSa(20, 50, 100, and 200).

The MACD indicator provides a bearish crossover, reflecting a sell signal. Moreover, a breakdown from the neutral zone will accentuate the increasing bearish momentum.

BTC On-chain Data Indicates STH Are Under A Bearish Cloud

Source-Glassnode

Glassnode, an on-chain analytics firm, recently highlighted in their tweet, stating the Short-Term Holders are the most likely cohort to spend their coins in response to volatility.

The analyst displayed STH-NUPL and STH-MVRV metrics, which look into the unspent coin by the Short-Term Holder to determine their profit or loss as per the current price. Anyhow both these metrics are moving below their cost basis, i.e., (MVRV below 1 and NUPL below 0), indicating that on average the STH traders are holding on to losses.

Moreover, the STH-SOPR indicator which represents the degree of realized profit and loss for all coins moved on-chain, having a lifespan less than 155-days, is also moving below the 1 mark, indicating the STH are realizing losses. 

The post Bitcoin Price Analysis: Bitcoin Just Lost This key Support; What’s Next? appeared first on CoinGape.

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Webbland Metaverse Sales Jump 126% as 2 Penthouses Sell for Six-Figures

Webbland Metaverse Sales Jump 126% as 2 Penthouses Sell for Six-Figures

While blockchain virtual worlds have seen significant demand during the last few months, an “interoperable pixel metaverse” project called Webbland has seen weekly NFT sales spike by 126.24%. The project recorded over $3.6 million in sales over the last seven days, and two Webbland penthouses made it into the top 15 most expensive NFT sales this week.

Worldwide Webbland NFT Sales Capture $3.6 Million in Volume Over the Last Week

During the last 12 months, metaverse properties have climbed in value as blockchain-based virtual world projects like Decentraland, The Sandbox, Axie Infinity, and Illuvium have seen significant demand. Metaverse land, apartments, penthouses, and mansions have been selling for anywhere between four to seven figures.

This week, Webbland, a project that calls itself an “interoperable pixel metaverse,” has seen $3.6 million in sales this week up 126.24% since the week prior. Webbland has made it into the 33rd position in terms of seven-day sales during the last week, above Farmers World and just below Sheet Fighter.

The project Worldwide Webbland or Webbland is similar to The Sandbox and Decentraland, as it allows players to own land, equip with NFTs, complete quests, and explore. Webbland is a massively multiplayer online role-playing game (MMORPG) and players have in-game avatars and they can acquire land in the virtual world.

“Lands are in-game spaces owned and controlled by the respective NFT token holder and function as an integral part of the Worldwide Webb ecosystem,” the project’s website explains. During the last seven days out of the top 50 NFT projects, and besides the NFT projects Psychedelics Anonymous Genesis and 420 Game Green Pass, Webbland captured the third-highest percentage gains in terms of sales this week.

2 Webbland Penthouses Sell for Over $130K in Ethereum

According to statistics, 24 hours ago, Webbland’s Penthouse #9051 was the 14th most expensive NFT parcel sold. The Webbland virtual penthouse sold for 50 ethereum (ETH) or $139,848 at the time of settlement. 16 hours ago, Webbland’s Penthouse #9056 was the 15th most expensive NFT property sold this week. That particular penthouse in the Webbland metaverse sold for 48 ether or $131,830 at the time of settlement.

Metrics show that presently, there are 1,067 active Webbland wallets and on Opensea the project’s floor price is 1.7 ether or $4,464 and on Looksrare the lowest Webbland floor price is 1.1625 ether or roughly $3,052. In terms of property, the lowest sale this week was a medium-sized apartment #5586 for 2.89 ether or $7,989.

Meanwhile, the leading blockchain metaverse projects like The Sandbox and Decentraland have recorded higher sales this past week. The Sandbox saw $7.8 million in sales volume across 606 sales during the last seven days and the average sale was $13K. Decentraland recorded $4.3 million in sales last week across 284 transactions.

It seems like the trend of expensive virtual property sales will continue this year, as a myriad of metaverse properties are becoming more valuable than even physical real estate.

What do you think about Webbland’s penthouse sales this week and metaverse property sales in general? Would you pay thousands of dollars in crypto for virtual property? Let us know what you think about this subject in the comments section below.

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Cardano Foundation Doubles Bug-Bounty Reward Payouts

Cardano Foundation Doubles Bug-Bounty Reward Payouts

The Cardano Foundation is doubling its bug-bounty program alongside its rolling out of the Basho phase that sees scalability and transaction throughput improved.

The Cardano Foundation is offering hackers and bounty hunters that discover vulnerabilities in the Cardano blockchain a payout that has doubled since it was initially announced.

Beginning on Feb. 14, 2022, ethical hackers and bounty hunters that find crucial flaws in the Cardano Node will be awarded up to $20,000. The rewards are meted out based on the severity of the bug discovered. Those hackers that find a bug that poses a small threat on a node will be awarded $800. A payout of $15,000 will be given to bounty hunters that identify a critical bug in the Cardano wallet, while $600 will be awarded to hackers who discover less crucial vulnerabilities.

The Cardano foundation believes that tracing vulnerabilities is what keeps businesses and customers safe. The aim of the bug bounty program is to fortify the Cardano brand through a public bug bounty program, covering important items to access and manage crypto assets issued on the Cardano blockchain.

Cardano is going on the offense against potential loopholes in its infrastructure. This comes during the Basho phase of the upgrade plan, which focuses on the scalability and stability of the blockchain under heavy load. One of the on-chain improvements is an increase in block size from 8 KB to 72 KB. Another improvement will be input-endorsers that improve block-propagation times and throughput, which increases the number of transactions per second. This bug bounty program could see the Cardano foundation roll out upgrades and consolidate the network safety simultaneously.

Why a bug-bounty program?

As BeInCrypto recently reported, bug bounties are a way to crowdsource bug-finding. Institutions like Binance, Poly Network, and Japanese Liquid Crypto have all offered these programs. What makes the Cardano foundation’s initiative different, however, is that bugs directly on a blockchain and wallet are being investigated, not just a company’s smart contract infrastructure.

How Cardano issues will be processed

The Cardano bug bounty will not be awarded for user interface issues or general functionality errors. The bounty will encompass all bugs or vulnerabilities that have the potential to compromise sensitive information. Also, the discovery of issues that cause the service to fail, and attacks compromising the quality of the blockchain, will be awarded.

The Cardano foundation requested that hackers that discover areas that could be seen as “an exploitable vulnerability” to contact the foundation. Arrangements can be made to deliberate over these vulnerabilities “on a case-by-case basis.” The foundation will respond to hackers in two days. The time to assess where the bug fits in the scheme of severity will take two days. The bounty will be awarded within 14 days of the notification. The time to resolve will be based on the severity and complexity of the issue.

The promotion will last for six weeks, starting on Monday, Feb.14, 2022, until Friday, March 25, 2022.

What do you think about this subject? Write to us and tell us!

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XRP Price Prediction: Can This Flag Pattern Save XRP Price From Further Dump?

XRP Price Prediction: Can This Flag Pattern Save XRP Price From Further Dump?

The parabolic recovery surged the XRP price to the $0.91 mark. The one-week rally registered a 50% recovery, allowing XRP buyers to fight for the $1 mark. However, the sellers defended the higher resistance and turned down the coin to $0.745. The altcoin currently wavers in a tight range should preparing for the upcoming move

Key technical points: 

  • The daily-RSI slope could slip below the neutral line.
  • The 50-and-100-day sandwich the XRP price
  • The intraday trading volume in the XRP is $3.12 Billion, indicating a22.08% hike.

TradingView ChartSource- Tradingview

The XRP price has been resonating between $0.853 and $743 for almost two weeks. However, the technical chart displays a flag pattern that states a higher possibility for bullish continuation.

Therefore, if buyers breach the overhead resistance, the altcoin would drive to the $1 mark, which is the key level for initiating a bullish rally.

The XRP chart shows 50 and 100 DMA act as dynamic support and resistance, respectively. A breakout from either of these DMA would provide an extra edge to the following rally.

Concerning the minor consolation in price action, the Relative Strength Index(52) travels a down rally, indicating the buyers are losing their grip. A breakout from the middle would offer additional confirmation for short-sellers.

Retest To Ascending Trendline Suggests A 22% Potential Decline 

TradingView ChartSource- Tradingview

As mentioned in our previous article, the XRP price had breached a highly influential support trendline on January 5th, and the recent recovery was a retest phase. Therefore contrary to the above-mentioned bullish pattern, the XRP/USD pair also poses a downside risk.

If sellers slump the coin price below the $0.745 support, the traders can expect a 22% fall to the $0.59

  • Resistance level: $0.85 and $1
  • Support levels: $0.745 and $0.59

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2022/02/19

As Virtual Real Estate Gets Pricey Terrazero Technologies Provides Metaverse Mortgages

As Virtual Real Estate Gets Pricey Terrazero Technologies Provides Metaverse Mortgages

As Virtual Real Estate Gets Pricey Terrazero Technologies Provides Metaverse Mortgages

While the metaverse has become very popular, virtual land sales have seen significant demand in recent times. Virtual real estate has become expensive, in comparison to the prices 12 months ago, and virtual parcels stemming from a couple of blockchain metaverse projects have sold for seven figures. With virtual real estate getting extremely pricey, one firm called Terrazero Technologies is offering metaverse mortgages.

Terrazero Provides Metaverse Real Estate Loans to People Looking to Acquire Virtual Land and Homes

At the moment virtual real estate has become a hot commodity as people continue to leverage their crypto assets to purchase metaverse parcels. Projects like The Sandbox, Axie Infinity, and Decentraland have seen virtual land parcels sell for hundreds of thousands and even millions. Last November, Bitcoin.com News reported on a few million-dollar sales in metaverse blockchain worlds. For instance, eight plots of virtual Axie Infinity land sold for 888 ether or $1.5 million at the time of settlement.

Virtual land adjacent to Snoop Dogg’s metaverse mansion in The Sandbox sold for $450K in ethereum (ETH) during the first week of December. A study published by the metaverse analytics firm Metametric Solutions expects metaverse real estate sales to reach $1 billion this year. Now a project called Terrazero Technologies is working on offering home loans to people looking to acquire virtual real estate. According to a report stemming from mpamag.com, Terrazero completed its first metaverse mortgage from a client looking to finance the acquisition of virtual land.

Terrazero said it closed its first-ever metaverse mortgage transaction with land derived from the Ethereum-based virtual world Decentraland. Similar to a regular mortgage the buyer agrees on the terms and makes monthly payments until the loan is paid. Speaking with Andrew Martinez of National Mortgage News (NMN), Terrazero CEO and founder Dan Reitzik explains that the deed is a non-fungible token (NFT).

“We do KYC, or Know Your Customer,” Reitzik detailed. “Then they show us a business plan so that we know that they’re going to be able to pay us back over time. If it sounds viable then we buy the land on their behalf.” The Terrazero founder added:

The deed is essentially an NFT. We hold that in the company’s cold storage until the loan is paid off. But we give developer rights to the land so that the person can build whatever they want. If the customer doesn’t pay, then obviously we have that as our collateral.

Terrazero’s metaverse mortgage follows the Florida home in Gulfport that was sold as an NFT. Furthermore, a project called the One DAO is attempting to purchase the infamous home dubbed The One Bel Air in a similar fashion. During the interview with NMN, Terrazero’s CEO disclosed that the team is working with an unnamed banking partner. The project is also launching a metaverse real estate platform called Amadea.

What do you think about the metaverse mortgage concept? Would you take out a mortgage to purchase virtual land? Let us know what you think about this subject in the comments section below.

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Gala Games (GALA) Price Prediction: GALA Keeps Eyes On $0.20 Next!

Gala Games (GALA) Price Prediction: GALA Keeps Eyes On $0.20 Next!

Gala Games (GALA) price is trading marginally lower on the weekend. GALA price action is noticeably bearish since February 9. As bulls are losing their patience, it looks more plausible that GALA price will first need to dip back towards $0.20.

  • Gala Games price continues to fall for the fourth straight day on Saturday.
  • GALA broke below the crucial level highlighting further downside risk for the pair.
  • The upside is capped near $0.40 on the daily chart.

As of press time, GALA/USD is trading at $0.28, down 2% for the day. The 24-hour trading volume of the coin reads at $830,945,406 with 35% losses.

GALA trades near a crucial level- a make or break movement

On the daily chart, GALA has dropped almost 82%  from all-time highs of $0.84 made on November 27. After consolidating in late January, the price rallied almost 20%.

Source: Trading View

But the upside remains capped near the swing highs of $0.39 as bulls lack the conviction to cross above the level. Currently, the price sliced below the 20-day Simple Moving Average (SMA) at $0.28 trades near the ascending trend line from the lows of $0.20 made on February 4.

As the global sentiment worsen over the weekend owing to the geopolitical concerns, it looks to be that GALA is set to shed another 28% from the current value and dip back to the low last seen in November at $0.11.

Alternatively, a shift in the bullish sentiment could pull back to the highs of February 9 at $0.39 followed by the 0.50 horizontal resistance line.

Technical Indicators:

RSI: The Daily Relative Strength Index (RSI) reads at 45 with a bearish bias.

MACD: The Moving Average Convergence Divergence (MACD) holds above the midline. Any downtick in the indicator could strengthen the downside outlook for the pair.

 

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Crypto Exchange Binance Joins Expert Center at Russian Banks Association

Crypto Exchange Binance Joins Expert Center at Russian Banks Association

Crypto Exchange Binance Joins Expert Center at Russian Banks Association

Digital asset exchange Binance has become the first crypto company to support the Association of Banks of Russia in efforts devoted to regulating the country’s growing cryptocurrency market. The coin trading platform will also work with authorities in Moscow as they try to adopt rules for the industry.

Binance to Provide Crypto Expertise to Russian Banking Sector and Government

The world’s leading cryptocurrency exchange, Binance, has joined the Association of Banks of Russia (ABR) to share its regulatory experience with Russian financial institutions and government as they tailor their approach to oversight in the crypto space. Announcing the move to local media, its representatives noted that Binance is the first crypto platform to work within the banking industry organization.

The ABR has recently established an Expert Center on Digital Financial Assets and Digital Currencies, tasked to study the global practice of regulating the circulation of crypto assets. The body will also serve as a platform for dialogue between experts in the field of cryptocurrencies and Russian federal authorities and legislators, RBC Crypto reported.

Olga Goncharova, director of government relations at Binance for Russia and the CIS countries, has been appointed to lead the expert center. Binance’s Director for Eastern Europe Gleb Kostarev emphasized that the exchange has a solid track record of working with regulators around the world. He was also quoted as stating:

I am sure that our developments, our expertise will be positively received by the Russian banking community.

In the past few weeks, government officials in Moscow and members of the country’s financial industry have been working hard to fill the gaps in Russia’s regulatory framework remaining after the adoption of the law “On Digital Financial Assets,” which went into force in January of last year.

While Bank of Russia has proposed a blanket ban on a range of related operations, including trading, most other institutions have backed the Finance Ministry’s view that legalization is a better alternative. After the federal government approved its concept, the treasury department is now drafting two laws for the Russian crypto economy.

A report by Kommersant revealed earlier this month that some of the world’s largest cryptocurrency exchanges are ready to work in Russia under the proposed new rules, including a requirement to open a local office or register a Russian legal entity. Binance’s Goncharova told the business daily that the platform supports the government’s regulatory roadmap which, in her words, “will make operations more understandable, transparent, and user-friendly.”

Do you expect Russian authorities to seek assistance from other crypto businesses in their efforts to regulate the industry? Tell us in the comments section below.

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Alium Finance Introducing Hybrid DEX Liquidity to Address Liquidity Limitations, Trade Your Favorite Crypto With Unlimited Liquidity

Alium Finance Introducing Hybrid DEX Liquidity to Address Liquidity Limitations, Trade Your Favorite Crypto With Unlimited Liquidity

PRESS RELEASE. Using the latest Developments on the Decentralized Finance Market Alium introduces the Hybrid Liquidity Model, allowing users to trade almost any crypto using the Liquidity available both on Alium and the rest of the DeFi market.

Hybrid liquidity allows traders to use both Liquidities available on Alium and on most of the major exchanges using the algorithm to pick the best price available all in one place. This makes Alium a perfect DeFi hub with quite a few Networks (BSC, HECO, MATIC, ETH, FTM, and METIS) already available and even more coming.

Hybrid Liquidity and Cross-Chain Bridges

The hybrid Liquidity model is a major milestone in fixing the Liquidity issues on the Cross-Chain DEX Market. By minimizing the need for liquidity in Cross-Chain Swaps to a few key pairs, Alium allows for a seamless, secure, and optimal Traders’ experience.

Hybrid Liquidity and Strong Holders’ and Strong Stakers’ Pools

Strong Holders’ Pools pioneered by Alium in Q4 2021 are a great tool for holders to monetize hold term HODLing. This way to earn tokens by simply sticking around is getting more and more popular, and new projects are joining in to create SHP for their tokens in the near future.

The Next Step in the SHP development is Strong Stakers’ Pools, a hybrid solution allowing users to combine Staking Rewards with Holder Rewards to maximize their profits in the long run. The Hybrid Liquidity model will allow Alium Users to join any upcoming SHPs and SSPs in a matter of a few clicks.

Stay tuned for further Developments by joining our communities:

Twitter: https://twitter.com/AliumSwap

Discord https://discord.gg/BU6m6zgpvZ

Telegram https://t.me/aliumswap_news

 

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Earn Passive Income with Crypto

Customers of traditional banks expect to be paid interest on their savings and a handful of digital currency platforms are following suit by paying their customers interest on the coins and tokens they store in their wallets. In the U.S., high annual percentage yield (APY) savings accounts typically earn interest at a rate of approximately 2.15%, while standard checking and savings accounts earn far less at approximately 0.01% APY. Digital currency platforms, however, typically pay more interest.

If investors can withstand the wild swings typical of cryptocurrencies, there’s more to be earned in interest on their savings than at a typical bank.

Below are five cryptocurrency platforms that allow you to earn interest on your coins and tokens.

Binance

Binance offers its customers a few different ways to earn interest depending on the term chosen for investment. Binance offers fixed and flexible terms, as well as high stakes DeFi staking that has the greatest return rate at between 7% and 12.49% depending on the coin. For the safest flexible term option, Binance customers earn anywhere between 1.20% APY on bitcoin and 6.50% for 1inch (1INCH).

Go to Website

Cake DeFi

Cake DeFi offers the easiest-to-use and most transparent products and services offering high returns for both beginners and experienced investors. Cake DeFi is registered and operating in Singapore, and fully complies with all regulatory requirements of the Monetary Authority of Singapore.

Bonus Offer: Get $30 worth of DFI when you sign up and make a deposit of $50 or more!

Go to Website

Nexo

Nexo pays its customers high interest rates on crypto, stable coins and standard currencies such as USD, EUR and GBP. Storing crypto or stable coins on Nexo will earn interest back in those coins at a rate of between 8% and 12%. Nexo pays interest of 12% on standard currencies such as the U.S. dollar and the euro, far more than any typical bank pays.

Like Celsius, Nexo also has its own coin called Nexo and if customers choose to earn interest back in Nexo coins, they earn 2% more than the standard rate.!


Bonus Offer: Join & Earn $25 in BTC

Go to Website

Advcash

Trusted worldwide since 2014, Advcash helps you manage your funds the way that just feels right. Store your crypto and stablecoins and earn up to 8% p.a.!

Daily payouts, 16 assets supported, deposit and withdraw anytime, fully secured assets.


Go to Website

BlockFi

BlockFi customers earn a straight 8.6% APY on the coins they hold on the platform such as Bitcoin, Gemini Dollar (GUSD) and USD coin (USDC) in their BlockFi interest accounts.

Bonus Offer: Get up to $250 bonus when you make a $25 deposit and maintain it for the specified period of time.


Go to Website

Celsius Network

Celsius Network: Storing Bitcoin (BTC) or other cryptocurrencies in a Celsius account can earn anywhere between 3% and 18.55% interest depending on the currency.

Celsius pays users interest back in the coin being saved, which then compounds over time. Celsius pays 6.20% APY for Bitcoin, 6.61% APY for Ethereum (ETH) and 13.86% APY for Tether (USDT). It also allows customers the choice to be paid in Cel tokens (Celsius’ own coin) at an even greater rate. If a customer chooses to receive interest on their cryptocurrency savings in Cel tokens, they then receive 30% more rewards on other holdings.

Bonus Offer: Plus, they are offering a $20 bonus in free bitcoin when you sign up and use this promo code: 1940655f92


Go to Website


Earn Crypto Interest FAQ


What is a crypto interest saving account?

A crypto interest saving account is where you can deposit your cryptocurrency and earn interest. Your money is used for different purposes but the most common is for lending or for liquidity.

What is APY?

The annual percentage yield (APY) is the real rate of return earned on an investment, taking into account the effect of compounding interest.

What is ROI?

Return on investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment.

To calculate ROI, the benefit (or return) of an investment is divided by the cost of the investment. The result is often expressed as a percentage or a ratio.

The difference from APY is that ROI doesn’t take time into account while APY is per year by definition.

What is compounding interest?

Compound interest (or compounding interest) is the interest on a deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Let´s take an example.

Sometimes the interest rate is stated as APY and APY with compound.

APY is when you deposit 1 Bitcoin, for example, but you don´t add the interest payouts to the account

APY with compound is when you deposit 1 Bitcoin, for example, and for every monthly, weekly or daily payout you add that amount to your interest account. So, if the payout is weekly, the first payouts will earn 51 weeks, 2nd payouts 50 weeks and so on.

What is defi?

DeFi is short for “decentralized finance”.

Decentralized finance is a term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

Decentralized applications are own by the community and not by a central part.

What is defi lending and borrowing?

Defi lending and borrowing is a for of peer-to-peer lending by a smart contract. There is no middlemen and not even a company that connects the borrower and lender.

What is crypto passive income?

Crypto passive income is earnings derived from something in which a person is not actively involved. The most common examples are

Interest account or savings account (where a 3th party uses your funds for lending or liquidity providing). Some examples are Celsius, NEXO, BlockFi, Crypto.com and YouHodler.

Staking where your funds are used to secure a proof-of-stake network (Compare mining rewards for the Bitcoin network). Examples of some exchanges providing staking service are Kraken, Binance and Coinbase.

Can I earn interest on my stablecoins like USDT?

Yes, you can earn great interest rates on your USDT and stablecoin holdings.

What different ways are there to earn crypto passive income?

There are many different ways to earn crypto passive income. At Cryptofreedom.me we have listed the following ways to earn crypto passive income

- Crypto Interest Saving Account

- Crypto Staking Rewards

- DeFi alternatives (liquidity mining and yield farming)

Are there any risks with crypto passive income?

Yes, as for any investment, crypto passive income investments involve risks.

What risks are you facing when you deposit into crypto passive income?

We have identified some risks we think represent the major risks. However, remember that you are always responsible over your own money. There are certainly more risks than these listed below.

- Cryptocurrencies are not a regulated market (There are still many scams around)

- Many of the options we list on this site involves depositing your funds into a 3th party. A third part can be a scam but they can be legit and get hacked or fail to operate for many other reasons.

- The cryptocurrency market is volatile

- Be aware of the tax rules in your restriction. You might get a high passive income you have to pay tax for but once you are going to pay the tax your crypto might be worth less.

What is the best crypto interest rate I can get?

It´s very important to not only look at the best interest rate since there are so many more things to weigh in here.

For example, many DeFi protocols can offer insane good interest rate but this is only because the inflation rate is super high. CAKE is an obvious example here.

So, is there any deflationary token that give interest?

Yes, there is 1 and almost 1

Binance Coin is a deflationary token since Binance burn BNB´s dependent on how much they collect in fees for each quarter.

Ethereum ETH is almost deflationary after introducing the EIP 1559 where some of the fees collected are burned. On top of this, you can earn 5-6% staking rewards on Ethereum 2.0.

What are the best crypto interest sign up bonuses and offers?

Many of the companies offering great way to earn interest on your cryptocurrency holdings also are offering great sign up bonuses and offers. For example, you can get up to $250 with BlockFi or $50 with Celsius.
 

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