With PassEarn, Passfolio’s newest feature for investing, users can receive 5% Annual Percentage Yield (APY) on their USD balances, with PRO members getting 7% (APY).
Deposit money, and watch it grow. It’s like magic! But many want to know: How exactly is this possible?
United States-based financial firms like banks need customers. And they need customer deposits. Those deposits are put to work in a variety of ways: So people can buy homes, build businesses, and provide short-term cash for those in a money crunch. Essentially, the funds are used to lend out money. In return for those loans, an interest rate is charged for the life of the lending agreement.
This way the money deposited into PassEarn goes to work for our users, in terms of a percentage yield on their money. And in return, that money is used to make loans to people who need them.
These financial services companies pool together this money so Passfolio users have the freedom to #dollarize their money whenever they want to. It’s really that simple: Banks want YOUR money to lend, and they will pay you for it. Plus you can withdraw your money at any time!
At Passfolio, we use the U.S.-based Gemini in order to provide our customers with PassEarn. They are one of the earliest and most well-known companies in the crypto space and are a New York-based trust company, which is a type of regulated financial services firm in the U.S. .
And because Passfolio is denominated in U.S. dollars, it’s easy to earn in a safe, steady way. With inflation on the rise, safely building a USD reserve is a great investment and diversification strategy, even for first-time investors. With PassEarn returns at least providing 5% APY, this is a great way to start investing, no experience required.
It’s always good to save for emergency funds, or diversifying investments into passive income, or just increasing buying power while waiting for the next investment opportunity. Even without knowledge on investing, a great way to get involved is to use PassEarn.
Deposit or withdrawal at any time without fees! Have control over your money, and with Passfoiio’s banking product, your funds are secure up to $250,000 with U.S. Federal Deposit Insurance.
YOU are in total control of how much you want to deposit or withdraw. YOU can transfer whatever amount you want into your PassEarn interest account. It’s that simple. Control your financial future, start earning money with PassEarn today.