Earn Interest on Terra - LUNA 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 12.3% per year plus compounding interest. Terra (LUNA) is a popular choice in the market. Here’s some information additional facts on Terra (LUNA) and also learn how to easily accumulate crypto interest on YouHodler.
What is Terra (LUNA)?
Terra is a blockchain network built with Cosmos DK, a network that specializes in stablecoin creation. Instead of using fiat to back the stablecoins or using over-collateralized crypto as a reserved, the Terra stablecoin is converted into the network’s native token, LUNA.
LUNA then lets holders pay network fees and take part in the network’s voting process in addition to taking and pegging stablecoins. For example, to peg a stablecoin to the US Dollar, TerraUSD (USDT) is created. From there a USD value of LUNA is convertible at a ratio of 1:1 with UST tokens. So if the price of UST is $0.99, then arbitrage traders will swap 1 UST for $1 and make a 1 cent profit. Hence, this inspires UST demand while simultaneously reducing the supply of UST.
In turn, this helps reduce stablecoin volatility even more than other fiat-backed stablecoins in addition to delegators and validators earning rewards for staking LUNA.
How to earn 7% interest on LUNA
Step 1: Sign-in or sign up to YouHodler (iOS, Android, and Web version available)
Step 2: Deposit LUNA to your personal Terra wallet
Step 3. Watch as your LUNA earns compounding interest.
Step 4: Get paid! Weekly payments come every 7 days
Watch your crypto earn on YouHodler
YouHodler favors UX/UI simplicity over all else. There are no complicated staking processes like some decentralized finance (Defi) protocols nor do we force you to buy any altcoins to access these high rewards. Our mission is to help you activate your crypto so it’s in our best interest to make this as easy as possible. So all you have to do is deposit LUNA into your Terra wallet and you’ll start earning interest immediately. Check back every four hours to see your interest update in real-time. After that, your interest payments are deposited every seven days into your LUNA wallet, giving you the chance to withdraw LUNA or keep HODLing for compound interest. The longer you HODL, the more you earn.
Terra saving wallet app that pays interest
YouHodler wallet app is the only application where you can store your Terra (LUNA) just like you would in a regular wallet but in addition, earn interest on that LUNA wallet balance every week.
How does LUNA interest work
You can earn interest on LUNA 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 7% interest on LUNA.
How to Earn Free LUNA
It’s easy! Just deposit LUNA to your YouHodler wallet and you’ll earn free LUNA every week.
How to Get Free LUNA
Interest payments occur every seven days. So you’ll get your free LUNA a week after your first deposit.
Cumulative Interest LUNA
Yes, you have cumulative interest if you HODL LUNA in the wallet. We calculate compound interest rates every week.
LUNA 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 LUNA at the end of the year due to this cumulative interest.
LUNA Savings Calculator
Just use our LUNA Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.