How to generate returns with cryptocurrencies

Bitcoin is one of the most popular cryptocurrencies (Photo: EFE / EPA / SASCHA STEINBACH)
Bitcoin is one of the most popular cryptocurrencies (Photo: EFE / EPA / SASCHA STEINBACH)

The cryptocurrencies They have become popular in the market and gained more followers every day. This is partly because they are a way of to invest long-term, especially if they are taken advantage of through the protocols of Decentralized Finance (DeFi).

To do this, you must first start by pointing out what DeFi is. It refers to financial instruments that offer the possibility of using cryptocurrencies to generate an added income, that is, in a certain period of time more money will have grown or added. Most of these returns arise from the incentives that protocols pay to invest in them.

And it is that, who would not want to generate more money with the simple fact of leaving a cryptocurrency in the portfolio, especially if it represents a simple and less arduous alternative than mining, which requires advanced knowledge of technology blockchain (chain of blocks).

Image of the fluctuation of Bitcoin, Ether and Doge (Photo: REUTERS / Toya Sarno Jordan / Illustration / Archive)
Image of the fluctuation of Bitcoin, Ether and Doge (Photo: REUTERS / Toya Sarno Jordan / Illustration / Archive)

In this way, for those who find it difficult to mine their cryptocurrencies and want to get the best out of them, there are platforms such as Good bit, where assets are placed for free and DeFi is easily accessed.

For example, someone who bought a bitcoin three years ago (whose value was around 5 thousand USD), today would have 65 thousand USD for the natural growth of the cryptocurrency. But if he had also invested it through Buenbit, today he would have around 1.15 bitcoin that would represent about 75 thousand USD thanks to the annual rate of between 4 and 5% that can be obtained.

Even for those who want to take their first steps with cryptocurrencies without exposing themselves to the volatility of a crypto such as bitcoin, they have the possibility of investing in stablecoins such as DAI, which is priced like the dollar and also allows to obtain much higher yields (between 7 and 15% per year) to those who offer traditional finance.

Cryptocurrencies continue to gain strength and popularity (Photo: Archive. EFE / Rodrigo Sura)
Cryptocurrencies continue to gain strength and popularity (Photo: Archive. EFE / Rodrigo Sura)

Although cryptocurrencies can involve risks, those who opt for these platforms can earn interest if their cryptocurrencies remain stable. In addition, they can withdraw or exchange cash at any time.

In terms of security, this type of platform keeps a large part of the funds in cold wallets or offline, something that minimizes the likelihood of cyber attacks; data is protected with encryption and users must do a verification known as Know Your Customer (KYC) o Know your Client whose objective is to prevent fraud crimes.

Do not forget that transactions are part of decentralized finance (DeFi), this means that they use block chains (blockchain) to transform traditional financial products into transparent protocols that work without intermediaries. In this sense, platforms such as Buenbit facilitate interaction with DeFi protocols for users.

Yields in Buenbit can leave several dollars of profit (Photo: EFE / MARCELO SAYÃO)
Yields in Buenbit can leave several dollars of profit (Photo: EFE / MARCELO SAYÃO)

At the moment, there are three available on this platform different cryptocurrencies to invest, these are: bitcoin (BTC), ether (ETH) and DAI, the three most popular on the market. The application does not require making payments to use it, anyone can download it, transfer their cryptocurrencies and start generating returns without having to use boots, pickaxe and helmet to mine.

It also has a limited time promotion in which you will pay 15 DAI (equivalent to 15 USD) to those who register with the promotional code hellox15, deposit $ 100 or more in any crypto, and leave it in the app for 30 days.

KEEP READING:

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