Here is One Way to Earn 10% Interest on Your Litecoin (LTC)

Here is One Way to Earn 10% Interest on Your Litecoin (LTC) 1

In brief:

  • Some traders thrive during crypto market volatility and can make profits regardless of the trend.
  • A variety of savings options are available for holders who prefer to play the long game.
  • One method is to save using popular exchanges such as Binance.
  • A second is through MyCred which has a liking to Litecoin (LTC).

To a certain degree, trading cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and XRP, in a bear market can be particularly difficult for one who has not familiarized themselves with such an environment. One technique some traders use is to invert their charts on Tradingview to mimic traditional bull cycles. By inverting the chart, the trader can analyze it as if it was a familiar bull trend.

However, when this becomes cumbersome, some traders usually convert their holdings to a stablecoin such as Tether (USDT) and wait for favorable bullish conditions. For the holders who are in it for the long game, HOLDing is the only option and now they can earn considerable annual interest through their idle funds.

Earning 10% Using your Litecoin (LTC) on MyCred

One way investors can earn annualized interest on their Litecoin (LTC) is through the platform of MyCred. The Litecoin Foundation informed the LTC community of this new feature through the following tweet.

About Cred

Further checking the MyCred platform, we discover that users can earn up to 10% per annum on their digital assets irrespective of the market direction. Interest is paid monthly through the user’s choice of crypto or stablecoin.

Cred is a global financial services platform whose vision is to allow everyone to benefit from more equitable, inclusive financial services. Assets enrolled in the aforementioned investment service are used to lend to a variety of customers such as retail investors and money managers.

Other Crypto Savings Methods Through Crypto Exchanges

The concept of crypto savings has also been embraced by prominent exchanges such as Binance which has a full range of savings options such as fixed and flexible savings. For the holders committed to holding for a very long time, a locked savings account provides the best returns on Binance. More on this can be found on the exchange’s Savings page.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin54,968 0.27 % 1.18 % 8.51 %
Ethereum4,146.3 0.78 % 2.16 % 6.53 %
Binance Coin594.48 0.61 % 1.22 % 1.82 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana192.62 1.91 % 0.39 % 11.78 %
Cardano1.520 2.18 % 1.17 % 21.32 %
XRP0.9316 0.77 % 0.85 % 15.33 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2215 0.68 % 1.42 % 7.23 %

Bitcoin (BTC) $ 54,791.00
Ethereum (ETH) $ 4,118.29
Binance Coin (BNB) $ 590.95
Tether (USDT) $ 1.00
Solana (SOL) $ 189.81
Cardano (ADA) $ 1.49
XRP (XRP) $ 0.926723
USD Coin (USDC) $ 1.00
Polkadot (DOT) $ 33.69
Dogecoin (DOGE) $ 0.199349