(Legacy) What is Abra's Earn Product?

This is a legacy product as of October 3rd, 2022

Abra's Earn product offers an opportunity for eligible customers to earn interest on their crypto assets and USD stablecoins. By transferring funds from the trading account to the interest account you can earn interest on your balance. 

You can think of this as a high-yield savings account for crypto. The amount you earn each day is based on your daily minimum balance and the annualized interest rate (called “Annual Percentage Yield” or APY). The APY can change once a day and we do our best to maintain a stable rate. You can currently earn interest on the following assets: Bitcoin (BTC), Bitcoin Cash (BCHN), Cardano (ADA), Ethereum (ETH), Litcoin (LTC), Pax Dollar (USDP), Steller Lumens (XLM), Tether (USDT), True USD (TUSD), USD Coin (USDC), Ethereum 2.0(ETH2), Polkadot (DOT), Polygon (MATIC). To earn interest, you will need to move funds from your Abra trading account to your interest account.

Assets held by consumers are matched with the liquidity demand from the institutional borrowers to calculate the interest rate paid to our users. The interest rate is adjusted periodically based on the demand for the asset under consideration. 

There are no Abra fees associated with using this product, which makes it a great way to earn money on crypto that you do not actively trade.