How to earn interest with compound crypto in Exodus wallet

 

how to earn interest with compound crypto in Exodus wallet

Welcome to the Exodus Compound Finance experience. 

We’re going to learn how we can immediately earn a high-interest rate on our DAI stablecoins and free ourselves from reliance on banks when it comes to earning interest on our savings. 

No account sign up or special equipment is required, All you need is the Exodus app on your computer. If you don’t already have Exodus, you can download it for free at exodus.io. 

Once you’ve got your exodus wallet, you’re only a few clicks away from earning interest on your DAI holdings. 


So here we are in Exodus. 

First, click the PLUS symbol at the top of the window which will take you to the apps screen where you can install the Compound Finance app. You can also get it by clicking on Settings, and then the Apps tab. Click install, open, and that’s it. 


Annual rate of return

The first thing you’ll likely notice is the nice big percentage number. This is the current Variable Annual Percentage Yield and denotes how much interest you’ll begin earning on the DAI you decide to deposit into the Compound Finance app. 


The rate shown here fluctuates based on market conditions. Today it might be around 2%, but tomorrow, it could be 1% or even 8%, and I’ve seen it go as high as 20%. 

The take away here is that this rate is not-fixed, it fluctuates in real-time based on market conditions but on average is going to be higher than your average bank rate. 


Starte earning

Let’s get started! Click start earning, type in the amount of DAI you’d like to begin earning high interest on, You can also click ALL to make things easy and deposit your entire DAI balance. You begin earning interest IMMEDIATELY. In real-time. 

Watch your savings grow every second. AND you can withdraw your DAI whenever you want, Your funds will be immediately sent back to your wallet WITH interest, If you don’t have any DAI or want more, you can send some to your Exodus DAI wallet from another platform OR exchange for it directly in Exodus using bitcoin or other popular crypto assets like litecoin and ethereum. 


Transaction fees 

Just know, that you’ll need at least a little bit of Ethereum to interact with the Compound Finance app, I personally keep around $20 worth of Ethereum in my wallet, But $10 of ETH should be enough to cover any transaction fees many times over.

Previous Post Next Post