{"id":3868,"date":"2020-10-08T15:41:42","date_gmt":"2020-10-08T13:41:42","guid":{"rendered":"https:\/\/holytransaction.com\/blog\/?p=3868"},"modified":"2022-12-20T02:11:11","modified_gmt":"2022-12-20T00:11:11","slug":"earn-interest-with-a-holytransaction-cryptocurrency-savings-account","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2020\/10\/earn-interest-with-a-holytransaction-cryptocurrency-savings-account.html","title":{"rendered":"Earn Interest With a HolyTransaction Cryptocurrency Savings Account"},"content":{"rendered":"<p align=\"left\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3869\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2020\/10\/Holytransaction-Wallet-DeFi-Staking.jpg\" alt=\"HolyTransaction Staking Wallet DeFi\" width=\"1000\" height=\"667\" \/><\/p>\n<p align=\"left\">Decentralized finance is quite literally taking the entire blockchain industry by storm.<\/p>\n<p align=\"left\">After a relatively slow buildup over the past few years, the spotlight has well and truly fallen on the cryptocurrency space&#8217;s ability to do what traditional finance does \u2014 but better.<\/p>\n<p align=\"left\"><a href=\"https:\/\/holytransaction.com\/\"><span style=\"color: #1155cc;\"><u>HolyTransaction<\/u><\/span><\/a>, the world&#8217;s most trusted cryptocurrency web wallet, is making access to <a href=\"https:\/\/holytransaction.com\/blog\/2021\/02\/impact-of-defi-on-the-cryptocurrency-market-of-2021.html\">DeFi<\/a> solutions available to all of its users starting <i>now<\/i>.<\/p>\n<p align=\"left\"><i>How<\/i>? HolyTransaction developers have integrated DeFi savings accounts for stablecoins into HolyTransaction web wallets.<\/p>\n<p align=\"left\">If the whole decentralized finance thing is new to you, and you&#8217;re having trouble understanding the importance of cryptocurrency savings accounts with stablecoins, then read on!<\/p>\n<h2><span style=\"font-size: xx-large;\"><b>Decentralized Finance (#DeFi) Explained<\/b><\/span><\/h2>\n<p align=\"left\">Blockchain has promised to do a lot over the years.<\/p>\n<p align=\"left\">However, at the end of the day, its first and best use case going back to the invention of Bitcoin is, and has always been, <i>money<\/i>.<\/p>\n<p align=\"left\">If you&#8217;re looking for a one-liner, it&#8217;s this:<\/p>\n<p align=\"left\"><i>Cryptocurrencies do it better.<\/i><\/p>\n<p align=\"left\">So, why shouldn&#8217;t cryptocurrencies one-up the traditional financial industry?<\/p>\n<p align=\"left\">Decentralized finance refers to blockchain-based protocols that enable peer-to-peer financial solutions like loans and, yes, <i>savings accounts<\/i>. Anything the traditional financial industry offers via institutions like banks, you will soon be doing in a decentralized manner without third parties at all.<\/p>\n<h2><a name=\"_dhklvhcj5oon\"><\/a> <span style=\"font-size: xx-large;\"><b>A Quick Guide to Stablecoins<\/b><\/span><\/h2>\n<p align=\"left\">The truly clutch tool in the development of the #DeFi industry has been the stablecoin, a workhorse digital asset used to minimize value volatility by pinning a cryptocurrency&#8217;s worth to an outside asset.<\/p>\n<p align=\"left\">Some stablecoins, like Tether (USDT), pin their value to government currencies such as the US dollar. To maintain value, $1 is stored in a reserve for every 1 USDT circulating in the open market.<\/p>\n<p align=\"left\">Other stablecoins peg their value to assets like gold, oil, and electricity.<\/p>\n<p align=\"left\">Today, stablecoins are gaining immense popularity as digitally-native alternatives to slow, centralized, and costly to use fiat currencies like the EUR, RUB, USD, and YEN.<\/p>\n<h2><span style=\"font-size: xx-large;\"><b>HolyTransaction Interest-Generating Cryptocurrency Savings Accounts<\/b><\/span><\/h2>\n<p align=\"left\">When using traditional banking savings account solutions, you&#8217;ve probably noticed that APY rates are pretty low.<\/p>\n<p align=\"left\">Even so-called <i>high yield<\/i> accounts don&#8217;t yield much with limits as low as 0.5%.<\/p>\n<p align=\"left\">Decentralized finance is changing that. By removing third parties from banking scenarios, you can often earn as much as 3% APY by keeping your stablecoins in an interest-generating crypto savings account.<\/p>\n<p align=\"left\">The great news is HolyTransaction has integrated such interest-earning features directly into its trusted cryptocurrency web wallets.<\/p>\n<p align=\"left\">With HolyTransaction, there is no need to download, install, or otherwise figure out another piece of software.<\/p>\n<p align=\"left\">Instead, you can use your HolyTransaction cryptocurrency web wallet directly via the web, allowing you to get started generating rewards on your stablecoins right away.<\/p>\n<p align=\"left\">If you&#8217;re concerned about a learning curve of some kind \u2014 worry not.<\/p>\n<p align=\"left\">Using a DeFi savings account is the same as using a basic <a href=\"https:\/\/holytransaction.com\/page\/create-cryptocurrency-wallet-online-free-universal-register-best-multi-wallet\">cryptocurrency wallet<\/a>. Just deposit your stablecoins, click on &#8220;stake&#8221; and you&#8217;re good to go \u2014 the longer you store them, the more they yield in return.<\/p>\n<p align=\"left\">Want to get started today? Jump over to <a href=\"https:\/\/holytransaction.com\/\"><span style=\"color: #1155cc;\"><u>HolyTransaction<\/u><\/span><\/a> to quickly create an account and start saving.<\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Decentralized finance is quite literally taking the entire blockchain industry by storm. After a relatively slow buildup over the past few years, the spotlight has well and truly fallen on the cryptocurrency space&#8217;s ability to do what traditional finance does \u2014 but better. HolyTransaction, the world&#8217;s most trusted cryptocurrency web wallet, is making access to [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":3869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[191,1476,334,1461,1473,1472],"tags":[871,1454,1474,1434,1327],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Earn Interest With a HolyTransaction Cryptocurrency Savings Account -<\/title>\n<meta name=\"description\" content=\"HolyTransaction developers have integrated DeFi savings accounts for stablecoins into HolyTransaction web wallets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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