Blockchain and Crypto

With Earn, Gemini users can buy, sell, save, and earn interest from crypto on one platform

  • Crypto exchange Gemini unveiled its interest-earning program today.
  • Gemini Earn allows users to buy, store, spend and earn interest under one platform.
close

Email a Friend

With Earn, Gemini users can buy, sell, save, and earn interest from crypto on one platform

Crypto custodian firm Gemini announced today the launch of its interest-earning program, Gemini Earn, which enables customers to earn up to 7.4 percent APY. The program will be available in all 50 states and will let users buy, spend, store and earn interest on more than 26 cryptocurrencies under one platform. 

Customers will be able to purchase and transfer their crypto assets onto Gemini Earn to start earning interest for any given period of time. They will not require a minimum balance to get started and they will also have the opportunity to redeem their crypto at any time with zero transfer and redeeming fees.

“Today’s investors know that a smart, diverse portfolio includes crypto — it’s an investment in their future selves,” said Tyler Winklevoss, CEO of Gemini. “We designed a program that allows our customers the ability to generate a real return on their crypto holdings without having to sell one of the best performing asset classes of the decade.”

The launch comes in tandem with the recent debut of the Gemini Credit Card which offers a cryptocurrency rewards program that allows users to earn back 3 percent in bitcoin or other cryptocurrencies on every purchase. The credit offering was launched in association with Gemini’s newly acquired startup, Blockrize.

Both offerings align with Gemini’s product strategy of mainstreaming and normalizing the use of cryptocurrency through traditional financial products such as interest earning platforms and credit cards. 

“We want to make it easy for any cryptocurrency investor to stay long-term in the asset class, whether they have been investing in cryptocurrency with us since we launched, or are completely new to the asset class,” said Noah Perlman, Gemini’s chief operating officer. “We believe it's important to provide our customers the option to invest and earn interest all within the Gemini ecosystem.”

SPONSORED

Gemini Earn will be available to a limited number of Gemini customers as of today and will be accessible to all Gemini customers in the coming weeks. The offering will encompass all crypto assets supported by Gemini. In the coming months, the company plans to expand Gemini Earn to bear interest on the Gemini dollar, Gemini’s regulated stablecoin with a 1:1 peg to the U.S. dollar.

“Not all crypto platforms were created equally. We believe the quality of our product -- from the 26 cryptos which you can earn interest on and trade on our platform, to the range of interest that we offer up to 7.4% APY -- coupled with the holistic experience we provide on the Gemini platform make Gemini Earn stand out from other offerings,” said Perlman. 

In light of last year’s crypto boom, cryptocurrency has been actively gripping the public imagination as major firms continue to invest billions into digital currencies. In the beginning of 2021, JP Morgan reported that bitcoin could rise up to $146,000 in the long term as it competes with gold.

On Friday, bitcoin rose 20 percent higher after Elon Musk changed his Twitter bio to #bitcoin. Earlier today Coindesk reported how traders have switched gears from GameStop to leapfrogging onto centralized and decentralized cryptocurrency exchanges after recent restrictions by trading firms such as Robinhood.  

“Just as the stock market became more mainstream after mutual funds were introduced in the late 1970's, we see diversification of crypto becoming a big market beyond 2021,” said Boston Trading’s chief financial officer, Jeremy Britton.

According to Britton, this could lead to a plethora of many new crypto mutual funds or crypto ETFs in addition to companies which may offer Individually Managed Accounts or crypto portfolio management services.

0 comments on “With Earn, Gemini users can buy, sell, save, and earn interest from crypto on one platform”

4 charts, Blockchain and Crypto

4 charts on the year of the ‘crypto credit crisis’

  • The collapse of multiple centralized exchanges has plunged the crypto industry into what CoinDesk calls a 'crypto credit crisis', with circumstances still unfolding today.
  • For a broad perspective on the market, we discuss the macro returns, Bitcoin and Ethereum's performance, and the state of capital raised for crypto funding over the past year.
Lindi Miti | January 30, 2023
Blockchain and Crypto, Member Exclusive

Bankchain Briefing: Banks onboard the blockchain train

  • The lawsuits and insults season is in full swing within the unregulated cryptocurrency space.
  • But cryptocurrency is just one facet of blockchain technology. Tearsheet asked experts for commentary on how traditional banks are experimenting with blockchains.
Lindi Miti | January 27, 2023
Blockchain and Crypto

2023 predictions for crypto VCs, Bitcoin mining, and stablecoins

  • From entire stablecoin ecosystems collapsing to multiple centralized exchanges declaring bankruptcy, 2022 was Armageddon for the crypto industry.
  • As the crypto clean-up phase ensues in 2023, it’s worthwhile looking to crypto insiders, the battle-hardened survivors, for predictions: where to from here?
Lindi Miti | January 20, 2023
Blockchain and Crypto, Member Exclusive

BankChain Briefing: As crypto cools, VCs get back in the drivers seat

  • It is Friday the 13th, but the Freddy Kruger horror show is nothing compared to the carnage in the crypto industry.
  • As the crypto winter rages on, we step inside the conversations being held by crypto VCs about the industry moving forward.
Lindi Miti | January 13, 2023
Blockchain and Crypto

‘We are committed to saying Visa should be a crypto-native company’: Cuy Sheffield on Visa’s crypto strategy

  • While most FIs wait for crypto regulations to kick in to get involved, Visa is rolling up its sleeves and stepping in to contribute towards its architecture.
  • We sat down with Cuy Sheffield, head of Visa Crypto, to learn more about shifting trends in the space, how Visa wants to shape blockchain payments, and what the future of crypto looks like.
Lindi Miti | January 05, 2023
More Articles