Business Wire India 24Carret was founded by alumni of IIT BHU and IIM Ahmedabad and is now available to Indians via the Carret app. With the idea of creating the next generation cryptocurrency platform that people can invest in seamlessly, Carret was designed for individuals who want to earn from crypto in the most efficient way. Founded in India, Carret believes in the long-term potential of the cryptocurrency ecosystem to generate passive income.
As the world of decentralized finance (DeFi) evolves, more and more platforms are offering cryptocurrency yield accounts. Crypto yield accounts allow users to wager or lend coins for a set period of time to earn interest. The Crypto High Yield Account may be the optimal solution for those who just want to earn some interest in their cryptocurrencies instead of letting them sit idle. A high yield crypto account lends, invests or invests in crypto and pays users interest on the earnings on a regular basis. What sets 24Carret apart from the other apps on the market is one of the highest interest rates on offer and that is up to 17% APY.
Historically, gold has been used as a hedge against inflation and geopolitical turmoil, with a traditional move being to use it against stock volatility. In the past it was a highly effective method, but a new alternative has emerged that challenges the antiquated safe-haven method.
Cryptocurrency is a new asset class that started with the creation of the Bitcoin blockchain in 2009. The main advantage of Bitcoin and most other cryptocurrencies based on blockchain technology is the lack of a central authority, payment processor or company owner.
Bitcoin is often referred to as “digital gold” by its supporters. The term refers to the notion that Bitcoin, like gold, can serve as a store of value that is uncorrelated to other financial markets such as stocks.
Earning stable interest from crypto holdings is the next best alternative to some of the safer but less rewarding investments like FDs and gold, and it’s a wise decision to diversify one’s portfolio across different platforms to minimize risk and maximize returns over the long term maximize.
Cryptocurrency staking allows people to earn additional passive income from their wealth. The greater the amount of cryptocurrency staked in the high-yield crypto account, the greater the potential rewards. It is an excellent form of wealth accumulation for long-term crypto asset holders.
As India’s first cryptocurrency high yield account, 24Carret goes beyond simply buying and selling crypto by offering this unique investment opportunity. This high-yield account allows users to earn passive investment income regardless of market conditions.
Carret is now creating the Guide to the Future of Crypto Investing with the mission to provide an all-in-one suite for holistic crypto investing and to help navigate the cryptoverse. Carret’s vision is to give users unprecedented control over the entire financial ecosystem of the world’s fast-growing crypto industry.
By downloading the app and logging into the Android apps and iOS apps, users can access 24Carret. The account can also be accessed through the Carret website.
With a simple and user-friendly interface, Carret supports 100+ cryptocurrencies. The coins and tokens have transparent and competitive fees in the market with an option to review accrued interest over time. This app is highly recommended to all those who are looking for alternative investments in crypto products. The platform currently offers interest rates of up to 8% for Bitcoin, 9% for Ethereum, 11% for AVAX and 17% for USDC.
The annual percentage return (APY) is the total amount the crypto can earn in a year (including compounding the principal). Capital is compounded daily to maximize customer benefit. Since all interest is paid monthly, it can easily harness the power of compounding. 24Carret strives to provide users with a consistent rate of return.
Inflation is a complex economic concept that can be good or bad, but the consensus is that when it gets too high and out of control, it is catastrophic. Global inflation figures have risen significantly over the past 24 months due to unprecedented money printing by central banks. Almost 2 billion people are currently living in double or triple digit inflation.
People often take precautions to protect themselves by investing in assets (like the crypto asset class) that can appreciate in value and generate good returns over the longer term. Inflation has been a constant threat to the value stored in fiat currencies. Bitcoin, which is limited in supply to 21 million, makes it an attractive asset to invest in for the long term.
24Carret, offered by Carret, offers crypto users an opportunity to protect themselves from market volatility by investing in stablecoins to earn up to 17% APY. Carret generates returns by diversifying deposited crypto assets across different institutional borrowers, protocol-level staking, and the DeFi ecosystem to maximize returns while minimizing risk. The team carefully selects institutional borrowers after thoroughly screening them to lend crypto assets to earn a return. To eliminate default risk, Carret’s team of experts constantly monitors risk and actively manages the pool of diversified funds.
One of the main reasons compounding works so well for crypto assets is market volatility. Because of how compound interest works, time is on your side. The longer you start investing, the faster it will grow.
Carret aims to address the three main issues consumers face today when adopting blockchain technology: potential losses due to price volatility, the complexity of investing in innovative DeFi protocols, and the lack of a consumer-friendly mobile application. Bitcoin, Ethereum, AVAX, and some stablecoins are popular cryptocurrencies that investors can earn interest on. The interest paid on these accounts is in the form of cryptocurrency, making it possible to easily save and earn with crypto.
Carret offers a step-by-step guide to taxing crypto assets. Carret will try to answer tax-related questions to the best of its ability, but given that Carret is not a registered tax adviser, users are advised to consult a tax adviser before filing a tax return.
Carret has a very thorough risk management system in place to manage the levels of risk associated with revenue generation. Carret only works with world-class partners and blockchain protocols to provide users with optimal returns while minimizing risk. Crypto assets and their custodians, on the other hand, are not covered by any deposit insurance policy.
Carret’s secure crypto investment platform offers top-notch security features to protect investments and personal information. They have partnered with Fireblocks, one of the world’s leading providers of enterprise digital asset custody technology, to ensure the safety of users’ assets and deposits. Carret regularly assesses its partners’ protocols and creditworthiness to ensure funds are safe. They also use multi-signature authentications to ensure asset security as well as DDoS protection.
Carret accepts the following coins for her high-yield crypto account: BTC, ETH, AVAX and two stablecoins: USDC & USDT. When the users request additional crypto assets, Carret adds them to their earning platform.
Users can use the Carret app to login to the Carret platform. After signing up, enter basic information (name, age, etc.), add a bank account, and complete KYC (which takes less than 30 seconds). Carret users can easily deposit INR after signing up and completing KYC. Their platform requires a minimum deposit of INR 100.
Users can transfer the crypto assets from “24Carret” to the trading account in the Carret app before users can either convert them to fiat or withdraw them. Carret allows instant withdrawal of INR funds.
Also Read: What Are the Different Cryptocurrency Trading Strategies?
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