Earn by lending out your USDC

Earn cryptocurrency doesn’t necessarily mean risk. If you HODL your Bitcoin or other assets, they can bring you 10% overnight, but in the meantime, you can lose even more — and there is no reliable way to predict that. 

However, there is an alternative.

Lending USD-pegged stablecoins (cryptocurrencies that always cost $1) is how you can get predictable passive income without worrying and checking your crypto portfolio every day. Simply deposit some USD Coin on a USDC lending platform and see how your stablecoin interest accrues every month — no price fluctuations, no stress. 

CoinRabbit offers an 8% APR, meaning that you can get yearly $800 from simply holding your $10,000 on our platform.

What is USDC ERC20?

USDC, or USD Coin, is US Dollar-pegged stablecoin running on the Ethereum blockchain. The token is backed at a 1:1 ratio by physical dollars lying in protected vaults, and this is frequently proven in independent audits — the risk that the $1 price will ever change is negligible. 

ERC20 is a standard in which the token operates on the Ethereum network. Other stablecoins such as Tether (USDT) or Dai are also ERC20 stablecoins. Crypto enthusiasts actively use them in trading: for instance, when they want to sell an asset at its high and then buy it again when its price drops. 

What is USDC lending?

USDC lending is when you deposit your tokens on a lending platform USDC and earn crypto with no extra efforts on your side. CoinRabbit stores your USDC on several cold wallets not used in any service operations, so you can rest assured your deposit is safe. 

Can you lend USDC so that it covers inflation and is more profitable than any bank deposit? Yes — CoinRabbit offers you an 8% APR. The minimum amount to lend out USDC is 100 USD Coins — however, we recommend lending starting from $1,000 to earn interest stablecoin in a sufficient amount. 

Why is USDC the best for lending?

Stablecoins like USDC are the only predictable cryptocurrencies. If you lend any other crypto, it can offer you a better APR, but how do you know that it won’t lose in price, making the whole interest worthless? 

This is why stablecoins were invented — to satisfy the needs of those seeking an island of stability in the volatile crypto world. If you prefer precise planning to risk, lend your USDC and get guaranteed income. 

How to find the best platform to lend USDC?

To find the place where to lend USDC, consider the following criteria:

• APR or interest rate. It should be competitive across the crypto market and traditional finance as well. CoinRabbit offers an annual 8% interest.  
• Possibility to withdraw funds when you want. Unlike many platforms, CoinRabbit allows you to get your deposit back at any time. 
• Registration and KYC requirements. CoinRabbit doesn’t bother you with having to provide a pack of personal data and typing logins and passwords. You only enter your phone number to track your deposit. 
• Minimum and maximum deposit amounts. On our platform, they are $100 and $100,000, respectively. 

How to earn interest by lending USDC?

Now, it’s time to describe how to lend USDC on CoinRabbit. Here are the steps to take: 

1. Go to CoinRabbit, set USDC as a deposit currency, and type in the amount that you want to stake: 

2. Check the details, estimate whether you like the numbers in the monthly and yearly reward payouts section. Verify your phone number: 

3. Send your deposit to the provided address. After you do so, your interest will start calculating immediately:

4. Visit the “My earnings” page to see your deposit. You can visit this page from time to time to see how much interest accrued:

Final word

How to earn interest in crypto? By lending USD Coins, you can get an 8% APR — all you have to do is spend several minutes to deposit your tokens on CoinRabbit. To learn more about USDC lending, see our FAQ (scroll down to the bottom), or contact us via support chat on the main page! 

Source: https://coinrabbit.io/blog/earn-by-lending-out-your-usdc