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As assets like Bitcoin and Ethereum gain widespread traction, their potential broadens, offering opportunities for generating additional income from your crypto portfolio.
With many centralized exchanges, the process can be relatively straightforward.
It involves depositing assets into your account and choosing an interest-earning option like a crypto savings account or a staking program.
While many exchanges offer a large number of assets for trading, the list of interest-earning coins can be different.
Staking, for example, is frequently limited to ETH only.
Crypto savings accounts usually offer a fixed annual interest rate without a long-term commitment from your side.
Keeping your assets on the platform for a specified period can earn you bonus interest, though.
On the other hand, with staking, the annual interest rate is flexible and might change each day.
There is also a withdrawal period you have to wait for if you decide to reallocate your assets to another platform.
One tip: Before entrusting your crypto holdings, do your own research. Consider the platform's security, earning and withdrawal periods, and fees.
Hint: Earning crypto interest can be as easy as opening a crypto savings account with a crypto service provider.