Today, cryptocurrency exchange Gemini has launched an interest-earning program called Gemini Earn for select customers .
You might be asking “Does gemini offer interest?”
Please note that interest rates will vary by crypto.
Users can earn 2.05% APY on BTC and ETH and up to 7.40% for DAI and GUSD .
Another frequent inquiry is “How do I earn interest on my crypto held at Gemini?”.
Interest is earned and compounded daily , and you can redeem your crypto, including GUSD, at any time. Currently, only U. Customers can move GUSD into Earn.
What is Gemini earn (Gemin)?
On the Gemini platform, customers can view their combined trading balance and Earn balance, as well as the interest they’ve earned.
The parent exchange, however, has been around since 2014 and is founded by Tyler and Cameron Winklevoss . Gemini Earn lets users earn up to 7.40% APY on 50+ cryptocurrencies, including BTC at 1.65%, ETH at 2.05%, 7.40% on DAI, GUSD, and more.
This of course begs the query “Which stablecoins are supported by Gemini earn?”
An answer is that gemini Earn supports stablecoins like Gemini dollar (GUSD) and Dai⁴ . Stablecoins provide a way to earn interest while holding a cryptocurrency that is pegged to the U. Dollar to minimize price volatility. Learn more about using GUSD in Earn.
The New York-based exchange has inaugurated an interest- earning program called Gemini Earn. Gemini Earn will offer yield up to 7.4% APY . All 26 assets on the exchange are supported by the program. Only select members have access to it. However, the program will become available to all US customers in early February.
Is Gemini earn FDIC insured?
Additionally, Gemini Earn is structured similarly to many non-deposit services offered by financial institutions and not insured by FDIC, SIPC, or any other governmental program, or Gemini. All loans are open-term and callable, and the customer’s experience is seamless with Gemini’s platform, allowing quick access to earn interest and redeem funds.