Over the last couple of months, the price of Bitcoin and other major cryptocurrencies has plummeted, leaving most people skeptical about the future of these decentralized assets. The inability of BTC, the premier crypto, to rise above the $25k mark for months now presents a massive problem for holders, crypto companies, potential traders, and even brands.
Traditional financial institutions and their accompanying fiat currencies are not doing well either. Per financial analysts, the UK’s inflation rates have risen to double digits and will continue to grow. The US is not left out; reports suggest a double-figure hit before the end of Q3 of 2022.
These recent happenings in the crypto and traditional financial markets point to a necessary shift in operations, expressly, the incorporation of dual currencies into the digital asset market. A few exciting features have been launched to usher in this era of dual currencies in the trillion-dollar crypto space. Some of these existing projects offer users an opportunity to earn as they save their crypto holdings.
Bringing Dual Assets and High APRs to Users
YouHodler has launched a new APR generation product — Dual Asset. It commingles tested-and-proven extremely high APR generation schemes and DeFi with the increased level of simplicity synonymous with Fintechs. This combination results in a convenient, profitable wealth management offering with a 365% APR.
Dual Asset is merging two different assets — a stablecoin and a cryptocurrency. According to the team, this product will give users and the crypto space an unprecedented opportunity to receive more rewards based on the asset’s future price increments. Dual Asset is an ideal feature for digital asset owners like yourself looking to obtain higher APRs than traditional holding platforms offer.
YouHodler’s groundbreaking Dual Asset feature aims to promote a convenient and advantageous strategy.
The next project, Bybit, also offers the Dual Asset feature. According to the team, it is a speculation vehicle that allows users to gain small rewards on crypto price movements. Users must predict the direction of a crypto asset like BTC, ETH, and BIT—its native token.
Once your trades mature, you will get returns in USDT or any cryptocurrency. Although, this will depend on the outcome of the transaction. Bybit’s Dual Asset will offer you yield enhancements if your market prediction is correct.
On the other hand, crypto holders will have the chance to increase their crypto portfolio to a considerable percentage. It is an ideal alternative to some of the existing holding systems.
BlockFi, a renowned crypto exchange and DeFi platform, is another project at the forefront of this paradigm shift. It offers a reasonable compound interest which makes it ideal for users looking to invest their crypto assets for an extended period.
It is similar to a savings account where you can simply store your assets safely and receive yield from it, regardless of market price movements.
As the prices of cryptocurrencies continue to drop and with no hope in sight, these platforms allow you to earn while you save your crypto assets. They eliminate the need to create wallet accounts and buy cryptos from exchanges; you simply need to send cryptocurrencies to their platform to get started.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.