Four ways that I am using stablecoins to earn yield

One great aspect of cryptocurrency is that it allows you to earn yield on stablecoins. I focus mainly on putting my money into stablecoins that are backed by dollar equivalents. When I pull profits from cryptocurrency or if I am seeking to earn more than I can in a traditional bank account, I like to diversify the way that my stablecoins work for me. Keep in mind that this is not financial advice and you should always do your own research before investing. I will go over the methods that I use and platforms that I am using.

1. Place stablecoins on a centralized platform that pays interest

This is the easiest way to start earning interest on stablecoins. You simply place your stablecoins on Celsius, BlockFi, Nexo, or Voyager. These platforms pay 8.6%+ interest in the stablecoin that you deposit. One neat feature that BlockFi offers is that you can get paid your interest in different cryptocurrencies. This is a nice way to dip into the crypto markets without having to directly purchase the coin that you want exposure to. Additionally, the interest compounds automatically and all these platforms are fairly simple to use. I have included referral links at the bottom of the article where you can get free crypto if you use my links.

2) Lending stablecoins through Aave on Polygon network