Poloniex Earn: APY with you stable coins 😱

I have been trying the Poloniex Earn feature for several days, which allows you to earn interest on your savings in various cryptocurrencies you have, so today I come to tell you about my experience using this feature and as you can also earn a little more by saving on this platform.

For those who don't know, Poloniex is a cryptocurrency exchange platform that has been operating since 2014. It is backed by Justin Sun and has more than 350 tokens according to CoinMarketCap. In addition to offering the possibility of Trading, it also offers other types of tools such as P2P loans. Today we will specifically look at the Poloniex Earn feature, where we can invest our savings and make them earn interest passively.

Before starting, I would like to clarify that it is the APY. Surely if you get involved in the world of investments and stacking you will come across this abbreviation that literally means Annual Percent Yield, and as its name says it will be the annual interest rate that our investment will generate, so this will be a determining factor to invest in one product or another. Things are easier with a practical example, so we will see the following: Imagine that you invest $1000 in a product that offers you an APY of 10%, this means that after a year you will have generated 10% interest, which translates into $100, not bad at all, right? If you want to know how much you would generate on a daily basis, just divide that $100 between 365 days of the year and you will have it, in this case approximately $0.27.

Well, for the most impatient of this amount it could be minimal but I take into account that you are not doing anything, you are earning this passively, and of course if you manage to accumulate much more amount you could perfectly live only on interest, so it is a feature that could give you financial freedom if you are constant in your investments.

Well, it's basically a feature that the platform offers to do exactly what I described to you a few moments ago. This offers you the possibility of obtaining interest for holding different cryptocurrencies such as USDT and BTC, so you could get interest on your favorite stable currency as well.

What I like most about this feature is that you can start with much less than a dollar of investment, so if you are curious and want to see how everything works, it is totally accessible to anyone. In addition, you can withdraw your investment at the time you decide without waiting time (sure conditions apply, we will see it later) and unlike other similar features such as that of shares where interest is usually paid every three months, in Poloniex and using cryptocurrencies you will receive your interest almost immediately so you will be able to see your returns at the moment and decide if it is convenient for you to keep your savings.

Poloniex Earn offers 2 types of investment products, today we will briefly describe them:

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• Flexible: the products or flexible allow you to invest and withdraw your investment at any time, so they are perfect for any type of investor since it represents practically no type of complication when it comes to having your investment. You will begin to receive interest just the day after you start the investment, and the interest will be paid to you two days after you have generated interest.

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• Fixed: fixed products on the contrary offer you a higher percentage of APY you will see leave your investment frozen for a stipulated time, that is, you will not be able to withdraw it until the investment term that they will give you is over.

Poloniex has several offers for new users with fixed products that can offer you up to 100% of your investment, for a short period of time of course. For example, a few days ago I invested 120 TRX in a fixed product that offered this percentage for seven days, that is, I would get a profit of 2 TRX in this time. At the end of the seven days, this product will no longer be available and I will get my investment back plus interest.

Now, this makes sense when we turn our account into an account that generates compound interest. This is achieved by activating the Auto Earn, which as its name says is a feature that will help you reinvest your interests in the flexible products you have, thus allowing your interest to be added to the initial amount you invested and allow you to generate more and more, so your assets will grow like a snowball over time.

To do this is as simple as placing the switch in your wallet and activating it.

To invest in these products they are simple how to transfer the funds from your Spot wallet to your Earn wallet, and from there you can place in the list the CryptoCurrencies of your preference, fill out a small form where they will ask you the amount you want to invest and show you an approximate of what you will receive for your investment, accept terms and conditions and you are ready to start generating interest with your savings.

All the resources are from my own taken with iPhone 15, Macbook Air, and edited later.