Annual percentage yield (APY) is the rate of return gained over the course of a year on a specific investment. Compounding interest, which is computed on a regular basis and applied to the am
The interest you earn on your funds is referred to as compounding interest. It refers to the amount received on both the principal amount (the money you put into the account) and the interest that has been accumulated. Compounding makes it possible to create money over time, which is why it is such a strong instrument for investment. This is not the same as simple interest. The term “simple interest” refers to interest generated just on the main deposit.
Cryptocurrency savings accounts with APY may be just what you need if you are a crypto investor who wants to make a return on investment while holding it. There are a number of crypto yield programs to choose from. Therefore, do your research before signing up for one. Factors like fees, entrance barriers, interest-earning procedure, and types of crypto assets available may vary from platform to platform. s