Crypto Exchange Gemini will let users earn interest by holding dogecoin
Crypto Exchange Gemini, the Winklevoss brothers have founded cryptocurrency exchange. This has introduced the dogecoin (DOGE, +32.38%) to the cryptocurrencies as on 10, May’21. It is supported by its Earn lending program, letting customers earn yield on their holdings.
Tyler and Cameron Winklevoss' Gemini crypto exchange has started to let customers transfer Dogecoin holdings. It provides interest-bearing accounts with its Gemini Earn service told in CNBC reports. As per the company, it can give a price of 2.25 percent annual percentage yield on dogecoin balances of investors.
“We at Gemini believe that one of the most exciting things about cryptocurrency is empowering the individual, and doge is a phenomenal example of that,” Gemini’s COO, Noah Perlman stated at CNBC in an interview. Interest can be gained and compounded daily. Customers can also buy back their crypto any time, and there are no least balances and no fees to transfer into or withdraw from Gemini Earn.
Dogecoin was initially listed on Gemini on March 4. eToro has supported the meme-based coin. The digital currency grounded on a meme - Dogecoin - has sustained to capture public attention. Though, Tesla CEO Elon Musk and rapper Snoop Dogg sent out an outbreak of tweets over the weekend, driving up the value of the meme-currency.
The move from Gemini comes soon after the exchange-listed Dogecoin for the initially time. Dogecoin, enthused by the eight-year-old meme. He has become a firebrand with a value flow of over 25,000 percent in the last six months.
· Dogecoin mania has presently reported that the coin is initially a joke. But now it is making serious waves.
· At press time, DOGE is changing hands for around $0.50, having fallen from an all-time high of $0.74 on Saturday, according to CoinDesk data.
· Along with doge, investors can also now earn returns on Injective (INJ), SushiSwap (SUSHI) and Polygon (MATIC).
· Gemini Earn's launch from February of this year has seen investors earning interest on a collective $2 billion in loans initiated through the service.
CBW - External Analyst