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Earn an Attractive USDT Interest Rate That Beats the Bank

date March 25, 2022 time 5 min read 528 views

Tether doesn’t quite receive the same level of attention as other cryptocurrencies, but the returns you can make from it might just be one of the best-kept secrets in the blockchain world. As a stablecoin, Tether maintains the same value as the US dollar, meaning it offers the perks of crypto while boasting true stability. As if that wasn’t enough, MyConstant has some great USDT interest rates on offer, so get yourself clued up.

When you hear the word “cryptocurrency,” you probably think of wild price swings with dramatic highs and lows—but things aren’t always this way in the crypto sphere. There’s a band of cryptocurrencies known as “stablecoins,” which peg their value to a different asset. Tether is one of the most famous, and even better, some of the USDT interest rates on offer are surprisingly high.

As you might have guessed, Tether is literally “tethered” to the dollar. But how do stablecoins work, where does Tether fit into the picture, and how can you secure these substantial tether interest rates we keep mentioning? Let’s jump in and find out. 

Introducing stablecoins

Stablecoins get their name because their defining feature is, well, stability. The value of most cryptocurrencies is based on a complex range of factors, but it effectively boils down to supply and demand in the market—the more demand there is for a certain token, the more its price will rise. 

Stablecoins are cryptocurrencies like no others, and Tether is one of the leading forces.
Stablecoins are cryptocurrencies like no other, and Tether is one of the leading forces. (Source: Unsplash)

This has effectively turned cryptocurrencies into speculative assets. It’s great news for investors who want to make money, but not so much for anyone who wants a consistent measure of how much items cost.

That’s where stablecoins come in. These cryptocurrencies have a fixed value, because they’re designed to permanently mirror the price of another asset—usually fiat currencies, but it could also be other cryptocurrencies or even precious metals. 

This is possible through either holding reserves of the asset they’re tied to or employing algorithms that buy and sell just the right quantities of said asset. 

Why use stablecoins?

You might be wondering: What’s the point in holding a cryptocurrency that retains a fixed value? 

Many other blockchain protocols use them as a way of letting people pay for transactions or other in-platform costs at a predictable cost. Unlike most altcoins, stablecoins 

can function as a medium of exchange and store of value, both of which are supposed to be properties of a currency anyway. In other words, a platform can set a price of (say) 1 USDT and know that number isn’t going to become worth 10% more or less within 24 hours.

Also, some crypto investors like to hold a certain amount of their funds in the form of stablecoins while they wait for the perfect moment to buy into more volatile digital tokens. It’s more convenient for them than holding fiat currency, but doesn’t carry the same risk as holding other cryptocurrencies. 

However, in doing all this, stablecoins still hold the same decentralization aspects as other cryptocurrencies. Can you see the appeal now?

Tether coin review

In certain respects, all stablecoins are all the same—each one of them has similar features, and they tend to be pegged to the same currencies and used for the same things. However, they also have their differences, so let’s look at what makes Tether special.

The USDT interest rates makes Tether well worth considering—here’s what you need to know.
The USDT interest rates makes Tether well worth considering—here’s what you need to know. (Source: Unsplash)

Tether is a fiat-collateralized stablecoin, because it’s pegged to the US dollar. Basically, Tether holds reserves of the US dollar as a form of collateral. It aims to hold USDT and US dollars at a 1:1 ratio, ensuring that the two currencies are perfectly in line and that Tether has stability. 

Because of this, there’s not much to say about its price history. As you can see in the graph below, there have been a few brief dips and increases in the USDT price. Yet this is due to the fact that changes in supply and demand have to be constantly corrected—rest assured that these fluctuations only happen for very short periods.

It's clear from its price history that Tether is a stablecoin, making it a much safer asset to hold.
It’s clear from its price history that Tether is a stablecoin, making it a much safer asset to hold. (Source: CoinMarketCap)

Tether is currently number three in the list of cryptocurrencies with the highest market capitalization— not a bad result. It’s also available on most major exchanges, including Coinbase and Binance.

Yet it’s not perfect.

Concerns about Tether

Some have expressed concerns that Tether could be a pyramid scheme, and some of the USDT APY rates we’ve mentioned might make you wonder the same thing. So, let’s clear up these concerns once and for all. 

There has been speculation about Tether’s USD reserves and whether it really has as much as it claims—especially considering some of the dramatic fluctuations seen in its price history. To make speculation worse, an independent third party has never actually audited the platform, and Tether has received fines for providing misleading statements about its finances. 

A recent investigation by the Commodity Futures Trading Commission (CFTC) revealed that Tether backs only 0.74 of its USDT to dollar reserves. rather than the 1.1 it claims to. Plus, while other cryptocurrencies are known to derive value from their scarcity, Tether can effectively be printed out for nowhere, which is a cause of concern for many.

However, not everyone is so keen to jump to conclusions. Even some Federal Reserve officials have spoken positively about Tether and other stablecoins. Tether itself has maintained that it doesn’t exactly fit the definition of a pyramid scheme—with the platform’s lawyer claiming it follows solid risk management processes and doesn’t have any kind of agenda behind what it’s doing. 

We recommend doing your own research if you have any doubts.

How to earn USDT interest rate of 14% APY with MyConstant

At the start of this article, we promised that it’s possible for USDT interest rates to go as high as 14% APY. But you won’t make those kinds of returns simply by buying your tether and leaving it sitting in an exchange or your crypto wallet—you’ll need to move it to a third-party platform.

At MyConstant, we’re running a deal of USDT interest rate where you can earn 14% APY by lending USDT (along with fellow stablecoin USDC). Simply invest your USDT holdings with us and leave it in your account to continue earning interest. We’ll then distribute the funds to our partners so your money can grow. The best part is that the Constant guarantee protects your funds, and you can even withdraw the money at any time if you need it.

You can also use our Crypto Swaps feature, which allows you to exchange your crypto effortlessly for a tiny trading fee of just 0.1%. So, even if you don’t have any USDT right now but you do have other cryptocurrency holdings, you can exchange them easily enough to get the best of our tether interest rate.

Make the most of USDT interest today

If you can’t resist the USDT interest rate on offer at MyConstant, you’ll be pleased to know that this isn’t the only benefit of our platform.

Other benefits of our platform include: 

  • 24/7 customer service.
  • Returns up to 14% APY.
  • Borrow from 6% APR.
  • Free withdrawals.
  • Staking for voting rights.
  • Store and borrow against over 70+ different cryptocurrencies.

Sound good? Sign up today and find out for yourself.

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George Schooling

George Schooling

Borrow against your multi-crypto portfolio in minutes from just 6% APR

Tags: Tether interest rate usdt apy

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