Assets, Bitcoin

How Much Interest Does Gemini Pay on Bitcoin?

Gemini, one of the world’s largest cryptocurrency exchanges, offers its users the ability to earn interest on their Bitcoin holdings. The interest is paid in Gemini Dollars, the exchange’s native cryptocurrency.

Gemini first launched its cryptocurrency lending program in March 2020. The program allows users to earn up to 6% interest per year on their Bitcoin holdings.

Interest is paid out monthly in Gemini Dollars.

To participate in the program, users must first deposit their Bitcoin into a Gemini account. Once the Bitcoin is deposited, it will be converted into Gemini Dollars and locked up for the duration of the loan period.

Interest will accrue daily and will be paid out at the end of the loan period.

The loan period can range from one month to six months. At the end of the loan period, users can either withdraw their Gemini Dollars or convert them back into Bitcoin.

So far, the program has been a success, with over $1 million worth of Bitcoin being deposited into it. The program has also been popular with users, with over 50% of loans being taken out for six-month periods.

The popularity of the program shows that there is demand for ways to earn interest on Bitcoin holdings. It also shows that Gemini is committed to providing its users with innovative ways to grow their cryptocurrency portfolios.

Previous ArticleNext Article