The 5 best DeFi sites to earn interest on your cryptos!

Who doesn't dream of being able to generate crypto interest without having to do anything special?

Ah, the decentralized finance! What happiness for worn-out users of classic finance sites. Tired of having to travel to an agency, write and print piles of papers, talk for hours with an advisor….

Today, all that is over! A new world opens its doors to us!

Finance is experiencing a big change and we are here to see it, touch it and participate in it in a lighter way.

We can earn interest on our cryptos with absolute simplicity! Quickly and simply!

😯 My introduction is too cheerful? Oh yeah! Decentralized finance brings us so many blissful perspectives that while writing this article, I want to sing, you see?

Not you?

Want some good news? Want me to share with you what makes me so excited?

Discover the 5 sites that follow which are part of the decentralized finance DeFi and you'll see why I'm so excited!

1/ The BlockFi site to invest like a king.

One of my favorite platforms for earning interest on your cryptos! Oh yes! Whether you want to invest the equivalent of 100 or 10 euros, this platform is ideal. A non-bank lending platform, the BlockFi platform offers compound interests and the possibility of exchanging your cryptos within the same platform.

BlockFi is a solid company, financially supported by industry giants such as Coinbase, Valar, Galaxy Digital, etc.

Along the same lines, it remains a regulated company that shares similarities between traditional credit systems. If you are uncomfortable with KYC and anti-money laundering checks, as well as a third party processing loan applications, the blockf may not be for you. Really, this is a site for investing and generating interest properly so to speak.

One drawback to note is that the service is only available on site and not through an app. It's not a huge problem, you will agree, but I know that some people prefer mobile.

Offering a “crypto-collateral” approach, the asset loaned is in real USD, rather than cryptocurrency, making it one of the most convenient lending solutions in the DeFi space.

the blockf also provides compound interest (each time the interest is calculated on the sum of the initial capital + interest) and it is one of the few to provide this service).

However, their interest is provided monthly rather than daily. You can withdraw your funds at any time.

With Gemini as a custody service, you can earn interest on your cryptos up to 8,6% per year.

Trusted and easy to use, the blockf guarantees no asset lock-in and the ability to earn compound interest as well as withdraw funds in dozens of available countries.

Additionally, on the borrowers' side, its lending feature is safe for borrowers by only granting up to 50% of the collateral value, rather than the full 100% risk, minimizing risk Indeed.

2/ The Celsius site to invest like a modern person thanks to an application

Celsius is a company just as secure as BlockFi. Some people will prefer it in particular because it is accessible via an application.

Celsius has a lot of benefits other than security. The ease of navigation and attractive rates greatly contribute to its popularity.

A major draw for Celsius is the ability to receive crypto-fiat loans instantly, which comes with significant tax breaks because users do not have to liquidate their assets to receive funds.

What is interesting about Celsius is their CEL token. A token that increased 700% in 1 year. Yes, it's crazy.

80% of Celsius' revenue is shared with users rather than shareholders, through weekly compound interest payments of up to 10%, on an annualized basis.

Unlike some of the other DeFi platforms, many of which don't have an app, Celsius offers a wide variety of cryptocurrencies and Stablecoins –– all of which offer competitive interest rates.

The experience of the serial entrepreneur and CEO Alex Mashinsky in the technology field may have a lot to do with the success of Celsius Network. Personally, I appreciate when the founders already have concrete experience in the field they are launching into. It is quite decisive in the proper functioning of society.

Their CEO is quite charismatic, their user interface is sleek, and every feature they offer is available as an app.

Another advantage is that you can find out on the site directly using the calculator how much you can earn based on your deposit!

3/ Counpound.finance to invest like a geek

Have you ever (maybe heard) this name or site somewhere? It is quite well known in the cryptographic world, but little used among novices.

For what? Already at the interface, we understand that it is a site aimed at connoisseurs unlike BlockFi or Celsius for example.

Designed for developers, Compound's protocol is open source code that enables algorithmic and automated interest rates ranging from 2 to 8% on Ether, as well as DAI and a variety of other stablecoins.

The protocol is considered to be a crypto version of a money market fund and is compatible with Ethereum wallets like Metamask, Coinbase and Ledger. Lenders and borrowers are matched automatically through the Ethereum-based protocol, eliminating the need for third parties.

Borrowers can access their assets in any location to borrow, and Compound makes it easy to integrate their protocol into your Ethereum wallet with just a click of the app button.

I can't tell you more because I don't (yet) use this site to generate interest.

Note: Compound Finance is starting to make waves with what we call Yield farming...

4/ The site YouHodler to invest like an expert

This is definitely one of my favorites again. Yes, on this list, I only chose the ones I love. The only one I don't use is Compound Finance but soon I'm going to try that too.

So, I already wrote my opinion on the Youhodler website and even made a video on the subject because I appreciate this company and their services so much.

There are several options for generating interest but some services remain rather complicated for novices.

For a person who knows about trading, this is a simply wonderful site.

There are indeed the Turbo Charge and multi loan options which can increase your earnings relatively easily (it is nevertheless risky).

5/ The Nexo site to invest like a prince

Similar to the blockf or to Celsius, Nexo offers automated crypto-to-fiat lending, all without having to liquidate assets.

But Nexo goes even further by offering crypto-to-crypto loans, as well as an innovative instant credit line with crypto bank card physical that borrowers can use in their daily lives.

For me, this is a disadvantage if you don't want to have the line of credit option. I mean, once you deposit, you will get it immediately.

Of course, it is enough not to touch your line of credit so as not to have to liquidate your capital later.

Also, deposits are paid daily, which is a definite advantage for many cryptocurrency holders.

There will soon be a card, and if you don't want to be on the borrower's side, again, there's no point ordering it (this is just my opinion, eh).

The credit line is approved in real time and even offers push notifications to alert you of your activity.

Nexo recently announced a drop in interest rates for instant credit lines, claiming to now be the lowest interest rate in the DeFi space, with credit lines starting at 5,9%.

The ability to earn interest on over 20 crypto assets puts Nexo at the forefront of the DeFi discussion, it's no small thing that many people like Nexo.

Likewise, as with Nexus, they redistribute 30% of their dividends once a year. It is therefore a very good option to buy NEXO token.

6/ The DhamarLever site to invest like a Pasha

It’s a rather innovative site in the cryptographic sphere, it must be admitted.

Self-proclaimed “the world’s first crypto bank”, Dharma’s wallet is secure while offering interest rates on stablecoins like DAI.

Users can deposit into the Dharma wallet which will automatically generate interest (1%).

This is not much, which is why few people use it as a way to generate interest on their cryptos.

However, that was the case in the past.

It should be noted that Dharma has currently undergone an overhaul by integrating into the Compound Finance protocol. In the past, Dharma offered higher interest rates and different cryptocurrencies.

Their rather elegant site and application have contributed to their popularity. Likewise, the concept is clear and precise. This allows for a more seamless and engaging user experience, which is enough to capture users' attention.

In any case, to generate interest on your cryptos with an Ethereum address, it is a very good alternative.

Discover Dharma

Conclusion on the sites to generate interest on your cryptos:

The future looks bright for the DeFi, it seems obvious to us.

That said, we still have a long way to go even if great progress has been noted.

Cryptocurrency users can finally benefit from solutions previously only accessible in traditional finance. Likewise, it must be admitted that being able to generate crypto interests so easily and quickly remains a godsend.

Until then, all we can really do is speculate. So, in the meantime, happy lending and borrowing!

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This is not financial advice. All investments involve risks. Always do your own research.