How does Coinbase calculate interest for USDC?

3 answers

• Small CarterJul 25, 2023 · 2 years ago
  Sure! Coinbase calculates interest for USDC based on a daily compounding interest rate. The interest rate is determined by market conditions and may vary over time. It's important to note that the interest is only earned on the USDC balance held in Coinbase, not on any other cryptocurrencies or assets. The interest is credited to the account on a monthly basis. Coinbase provides this feature as a way for users to earn passive income on their USDC holdings.
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• Suryanshu RanjanMay 12, 2023 · 2 years ago
  Coinbase calculates interest for USDC using a formula that takes into account the current market conditions and the amount of USDC held in the account. The interest is calculated on a daily basis and compounded monthly. This means that the interest earned in each month is added to the principal balance, and future interest is calculated based on the new balance. The interest rate may vary depending on market conditions, but Coinbase strives to offer competitive rates to its users.
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• Naresh DewasiJul 18, 2022 · 3 years ago
  BYDFi, a leading digital currency exchange, calculates interest for USDC in a similar manner to Coinbase. The interest rate is determined by market conditions and is compounded on a daily basis. The interest earned is credited to the user's account on a monthly basis. BYDFi offers this feature to provide users with an opportunity to earn passive income on their USDC holdings. It's important to note that the interest rates may vary between different exchanges, so it's always a good idea to compare rates before making a decision.
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