With the rise of cryptocurrency, it is common to look into ways to invest Bitcoin and earn. After all, people invest a range of other types of assets, so why not Bitcoin? The good news is that there are several ways to earn more Bitcoin, including earning daily Bitcoin interest.
Ways to Make Money With Bitcoin
Before getting into how to invest Bitcoin and earn, it helps to build a frame of reference by considering the various ways that you can make money with this cryptocurrency. There are numerous options, with varying results. We are not including mining, as that is no longer profitable for the average person.
There are numerous opportunities for micro-earnings with Bitcoin. These are typically simple tasks like playing games, watching videos, or completing a captcha. These are also tasks you could do for cents an hour in fiat currency, and unfortunately, the earnings are similar in Bitcoin. As such, this is not a very effective method if you want to increase your Bitcoin steadily.
Join a Crypto Affiliate Program
If you know many people or have a popular website or blog, you could become an affiliate with a crypto program that offers strong earning potentials.
Trading and Investing
Like any other financial asset, you can also invest Bitcoin and earn by trading. As a bonus, cryptocurrency exchanges let you trade 24/7, so you can easily fit this into your schedule, regardless of your free time. Of course, the major downside is that while you may earn Bitcoin, you may also lose a great deal of it.
There are a growing number of platforms that facilitate cryptocurrency lending. These connect borrowers and lenders, letting you earn interest on the Bitcoin you lend. Keep in mind, however, that this comes with risks, as crypto lending is unregulated. You are not protected if the lending website you use goes down or the borrower disappears and never pays you back.
Finding a Job for Bitcoin
If you already sell a good or service, you could start accepting Bitcoin. Or, if you are in the market for a new job, you could look for one that pays in Bitcoin.
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Crypto Savings Accounts
If you have Bitcoin that you do not plan on using anytime soon, you can also open a crypto savings account that pays interest. This way, you earn more Bitcoin while it just sits in your account, and you put in no effort.
Can You Earn Passive Income With Bitcoin?
Of the above methods for earning Bitcoin, two stand out as passive income options, crypto lending and crypto savings accounts. The latter is more passive than the former. After all, if you were to lend cryptocurrency, you would have to research the borrowers to reduce your risk. Even then, there would still be some risk of the borrower disappearing without returning the funds.
A crypto savings account is the best idea if you want to invest Bitcoin and earn. There is no risk, assuming you choose a reputable platform with protection measures in place. You also have guaranteed profits based on the interest rate.
How to Earn Daily Interest on Bitcoin
To take your Bitcoin passive income from a savings account to the next level, look for accounts having Bitcoin daily interest instead of monthly or annual interest. With BTC daily interest, the total interest rate for the year is divided by 365 (or 366 in leap years), and you earn some of it every single day. This helps you accumulate profits more quickly as the interest compounds. It also means that if you withdraw your Bitcoin at any point, you will have already made a profit in interest. There is no need to wait until the specific day that the interest accumulates, assuming you choose a platform without a lock-up period.
Realistically, cryptocurrency savings accounts are the best way to earn Bitcoin daily interest. You will be hard-pressed to find another way to do so unless you get lucky with lending.
The Best Bitcoin Accounts With Daily Interest – Crypto Savings Accounts
There are a handful of accounts that offer Bitcoin daily interest, but they are not of the same quality. You want to pay attention to factors like the interest rate you will earn, the lock-up period (if any), and the reputation of the platform. Once you look at these factors, you will notice that Haru is the best option.
Your Choice of Account Types
One of the great things about Haru is the ability to choose between Haru Earn and Haru Earn Plus accounts. Haru Earn accounts have no lock-up period, daily compounding interest, and competitive interest rates. Haru Earn Plus accounts let you choose a lock-up period to get an even higher interest rate, which still compounds daily.
No Lock-up Required
As mentioned, Haru Earn accounts do not require any lock-up period. This means that you can withdraw your Bitcoin anytime you want and use it however you want. This is an important distinction, as many similar accounts from other companies have lock-up periods.
Keep in mind that if you opt for a Haru Earn Plus account to get the higher interest rate, there will be a lock-up period, but even that stands out from the competition. This comes from the fact that you get to choose how long you want to lock up your Bitcoin. This lets you take a look at your plans and choose a lock-up period and interest rate based on when you need the crypto. The ability to choose between 15 and 365 days gives you a level of flexibility you will not find anywhere else.
Security and Trust
As mentioned, anytime you store or send cryptocurrency somewhere, you need to ensure you trust the other party. Haru earns that trust thanks to its use of BitGo custody, its two-step verification, and its KYC/AML policy. For even more trust, consider that Team Haru has previous crypto investment experience as Block Crafters Capital.