India’s 24Carret Cryptocurrency Yield Account Earns Up to 17% APY on Cryptocurrency Holdings
Business Wire India Founded by Alumni of IIT BHU and IIM Ahmedabad, 24Carret is now available for Indians on Carret app. With the idea of creating the next generation cryptocurrency platform that people can invest in seamlessly, Carret is designed for people who want to earn with crypto in the most efficient way. Founded in India, Carret believes in the long-term potential of the cryptocurrency ecosystem to generate passive income.
As the world of decentralized finance (DeFi) evolves, more and more platforms are offering cryptocurrency yield accounts. Crypto yield accounts allow users to stake or loan coins for a set period of time to earn interest. The High Yield Crypto Account may be the most optimal solution for those who simply want to take interest in their cryptocurrencies instead of letting them sit idle. A high-yield crypto account will lend, invest, or stake crypto, regularly paying users interest on earnings. What sets 24Carret apart from other apps on the market is one of the highest interest rates offered, and that can be as high as 17% APY.
Historically, gold has been used as a hedge against inflation and geopolitical upheaval, with the traditional trend being to use it against stock volatility. In the past, this was a very effective method, but a new alternative has developed that challenges the antiquated shelter method.
Cryptocurrency is a new asset class that began with the creation of the Bitcoin blockchain in 2009. The main advantage of Bitcoin and most other cryptocurrencies based on blockchain technology is the lack of authority centralized, payment processor or business owner.
Bitcoin is often referred to as “digital gold” by its proponents. The term refers to the idea that Bitcoin, like gold, can serve as a store of value uncorrelated with other financial markets, such as stocks.
Earning stable interest from crypto holdings is the best alternative to some of the safer but less rewarding investments like FDs and gold, and it’s a smart move to diversify your portfolio across different platforms to minimize risk. and maximize long-term gains.
Cryptocurrency staking allows people to earn additional passive income from their assets. The greater the amount of cryptocurrency staked in the high yield crypto account, the greater the potential rewards. It is a great form of wealth building for long-term holders of crypto assets.
As India’s first cryptocurrency high-yield account, 24Carret goes beyond simply buying and selling crypto by offering this unique investment opportunity. With this yield account, users can earn passive income on assets regardless of market conditions.
Carret is building the guide to the future of crypto investing, with a mission to provide an all-in-one holistic crypto investing suite and help navigate the cryptoverse. Carret’s vision is to give users unprecedented control over the entire financial ecosystem of the fast-growing global crypto industry.
By downloading the app and registering on Android apps and iOS apps, users can access “24Carret”. The account can also be accessed through the Carret website.
With a simple and easy to use interface, Carret supports over 100 cryptocurrencies. Coins and tokens have transparent and market-competitive fees with the ability to check accrued interest over time. This application is highly recommended for anyone looking for alternative investments in crypto commodities. The platform currently offers interest rates of up to 8% for Bitcoin, 9% for Ethereum, 11% for AVAX, and 17% for USDC.
The annual percentage yield (APY) is the total amount the crypto can earn in a year (including the compounding of the principal amount). Capital is compounded daily to maximize benefits for clients. Since all interest is paid monthly, they can easily leverage the power of compounding. 24Carret strives to provide users with consistent feedback.
Inflation is a complex economic concept that can be good or bad, but the consensus is that it is disastrous when it gets too high and spirals out of control. Around the world, inflation figures have risen dramatically due to unprecedented money printing by central banks over the past 24 months. Currently, nearly 2 billion people are living in double or triple digit inflation.
People often take precautions to protect themselves by investing in assets (like the crypto asset class) that can appreciate over the longer term and produce good returns. Inflation has been a constant threat to the value stored in fiat currency. Bitcoin, whose supply is capped at 21 million, makes it an attractive asset to invest in for the long term.
24Carret, offered by Carret, offers crypto users the opportunity to hedge against market volatility by investing in stablecoins to earn up to 17% APY. Carret generates the yield by diversifying deposited crypto assets across various institutional borrowers, protocol-level staking, and the DeFi ecosystem to maximize returns while minimizing risk. The team carefully screens institutional borrowers after carefully screening them to lend crypto assets to generate a return. To eliminate the risk of default, Carret’s team of experts constantly monitors risk and actively manages the pool of diversified funds.
One of the main reasons capitalization works so well for crypto assets is market volatility. Because of how compound interest works, time is on your side. The longer you start investing, the faster it will grow.
Carret aims to address the three main issues consumers face when adopting blockchain technology today: potential losses due to price fluctuations, the complexity of investing in innovative DeFi protocols, and the lack of user-friendly mobile application. Bitcoin, Ethereum, AVAX, and some stablecoins are popular cryptocurrencies on which investors can earn interest. The interest paid on these accounts comes in the form of cryptocurrency, making it easy to save and earn with crypto.
Carret provides a step-by-step guide to taxing crypto assets. Carret will try to answer tax questions to the best of its ability, but bearing in mind that Carret is not a registered tax adviser, users are recommended to consult an accountant before filing their taxes.
Carret has implemented a very comprehensive risk management system to manage the levels of risk associated with generating returns. Carret only works with the best blockchain partners and protocols to provide users with optimal returns while minimizing risk. Crypto assets and their custodians, on the other hand, are not covered by any deposit protection insurance policy.
Carret’s secure crypto investment platform provides world-class security features to protect investments and personal information. They have partnered with Fireblocks, one of the world’s leading providers of enterprise-grade digital asset custody technologies, to ensure the safety of user assets and deposits. Carret regularly assesses the protocols and creditworthiness of its partners to ensure the safety of funds. They also use multi-signature authentications to ensure asset security, as well as DDoS protection.
Carret accepts the following coins for its high-yield crypto account: BTC, ETH, AVAX and two stablecoins: USDC and USDT. As users request additional crypto assets, Carret will add them to their earning platform.
Users can use the Carret app to register on the Carret platform. After signing up, fill in basic information (name, age, etc.), add a bank account, and complete KYC (which takes less than 30 seconds). Carret users can easily deposit INR once after registering and completing KYC. A minimum deposit of INR100 is required on their platform.
Users can transfer crypto assets from “24Carret” to the trading account on the Carret app before users can convert them to fiat or withdraw them. Carret allows immediate withdrawal of INR funds.
Also read: What are the different cryptocurrency trading strategies
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