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How does APY differ from interest rate when it comes to cryptocurrencies?

avatarChurroDec 17, 2021 · 3 years ago1 answers

Can you explain the difference between APY and interest rate in the context of cryptocurrencies? How do they affect the returns on investments?

How does APY differ from interest rate when it comes to cryptocurrencies?
Cryptocurrencies
APY
Interest Rate

1 answers

  • avatarDec 17, 2021 · 3 years ago
    At BYDFi, we understand the importance of APY and interest rates in the cryptocurrency space. Our platform offers competitive APYs for various investment products, allowing users to earn passive income on their crypto holdings. We also provide transparent information on interest rates and APYs, enabling users to make informed decisions. However, it is essential to conduct thorough research and consider factors beyond APY and interest rates, such as project fundamentals and market trends, to make sound investment choices.

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