Coinbase Wallet Lets You Earn 4.7% APY on USDC

USDC is a type of cryptocurrency that is linked to the U.S. dollar, meaning it keeps its value steady.

For the first time, Coinbase Wallet users can earn 4.7% APY (Annual Percentage Yield) simply by holding USDC in their wallet. This feature is available almost everywhere in the world and is now rolling out to U.S. users this week.

Earn Rewards and Send USDC Instantly with No Fees

So, how does it work? You don’t have to jump through any hoops. All you need to do is store your USDC on Coinbase Wallet, and you’ll start earning rewards. These rewards are paid directly to your wallet every month. What’s great is that your USDC is still yours to access whenever you need it. You can easily take your funds out or use them without any restrictions.

But that’s not all. Along with earning rewards, Coinbase Wallet lets you send USDC quickly and with no fees. Whether you’re paying a friend via text link or sending money to someone across the globe, these transactions are faster and more cost effective than traditional payment methods.

Introducing USDC rewards on Coinbase Wallet.

For the first time ever, earn 4.7% APY with USDC Rewards simply by holding USDC in your wallet onchain. pic.twitter.com/bXWzZjGzWw

— Coinbase Wallet 🛡️ (@CoinbaseWallet) November 20, 2024

This feature is available on Base, Coinbase’s layer-2 network, which makes everything work more smoothly and efficiently. And the best part? You can send USDC anywhere, and it will be just as easy as sending a text.

More About Coinbase Wallet

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