Earn Interest on Elrond - EGLD Savings Account
YouHodler’s list of options to choose from for crypto savings accounts continues to grow. These low risk, high yield savings accounts help users earn interest on crypto up to 12% per year plus compounding interest. Elrond (EGLD) is a popular choice in the market. Here’s some information additional facts on Elrond (EGLD) and also learn how to easily accumulate crypto interest on YouHodler.
What is Elrond (EGLD)?
Elrond is software that’s designed to compete against top blockchains like Ethereum and Cardano by building an advanced ecosystem of decentralized applications (dApps) and cryptocurrencies. To do this, Elrond will incentivize a decentralized network of computers that runs smart contracts in order to make scalability and affordable transaction fees a priority.
To do this, Elrond will use Secure Proof-of-Stake (SPoS) and Adaptive State Sharding. Those two topics alone are worth several additional articles but for now, just understand that Elrond is powered by its native cryptocurrency, EGLD which interacts with the various apps on the network in addition to sending transactions and incentivizing actors that support the network. YouHodler is quite excited about this project and we aim to release more content on Elrond in the future to help our clients understand it.
How to earn 5.5% interest on EGLD
Step 1: Sign-in or sign up to YouHodler (iOS, Android, and Web version available)
Step 2: Deposit EGLD to your personal Elrond wallet
Step 3. Watch as your EGLD earns a compounding interest of 5.5% APY.
Step 4: Get paid! Weekly payments come every 7 days
Watch your crypto earn on YouHodler
After you’ve followed the steps above, then you’re pretty much done. All that’s left to do is sit back and watch your crypto earn. That’s right. It really is that easy. But why stop there? Now that you have your crypto working for you, try exploring our other features to use in tandem with an Elrond savings account. Multiply your EGLD with Turbocharge and Multi HODL or exchange EGLD for any other crypto. Last but not least, try our Classic Crypto Backed loans to get instant cash for your EGLD.
Elrond saving wallet app that pays interest
YouHodler wallet app is the only application where you can store your Elrond (EGLD) just like you would in a regular wallet but in addition, earn interest on that EGLD wallet balance every week.
How does EGLD interest work
You can earn interest on EGLD just like you would with a traditional bank savings account but with one key difference. Instead of near to zero interest rates at banks, we offer you 5.5% interest on EGLD.
How to Earn Free EGLD
It’s easy! Just deposit EGLD to your YouHodler wallet and you’ll earn free EGLD every week.
How to Get Free EGLD
Interest payments occur every seven days. So you’ll get your free EGLD a week after your first deposit.
Cumulative Interest EGLD
Yes, you have cumulative interest if you HODL EGLD in the wallet. We calculate compound interest rates every week.
EGLD APY & Yield
Compared to other platforms, we offer APY instead of APR. APR gives you interest payments without the compounding effect. Hence, with APY at YouHodler, you get more EGLD at the end of the year due to this cumulative interest.
EGLD Savings Calculator
Just use our EGLD Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.