Gemini Earn is an interest-earning product from the Winklevoss-owned cryptocurrency exchange, Gemini. It allows Gemini users to immediately begin earning interest on their cryptocurrency holdings including stablecoins, BTC, ETH and several other assets. Unlike most other platforms, Gemini Earn serves the state of New York.

Being a centralized service, Gemini Earn has its own risks compared to decentralized finance (DeFi) platforms that are built on smart-contracts.

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Gemini Earn Interest Rates 2022

1INCH
1INCH
3.51% 3.51%
AAVE
AAVE
1.01% 1.01%
BAL
BAL
1.25% 1.25%
BAT
BAT
1.01% 1.01%
BCH
BCH
5.12% 5.12%
BTC
BTC
1.01% 1.01%
COMP
COMP
2.28% 2.28%
CRV
CRV
5.25% 5.25%
DAI
DAI
6.43% 6.43%
DOGE
DOGE
1.01% 1.01%
ETH
ETH
1.26% 1.26%
GUSD
GUSD
8.05% 8.05%
KNC
KNC
1.25% 1.25%
LINK
LINK
0.5% 0.5%
LTC
LTC
1.51% 1.51%
LUNA
LUNA
4.52% 4.52%
MANA
MANA
0.75% 0.75%
MATIC
MATIC
2.02% 2.02%
MKR
MKR
1.26% 1.26%
SNX
SNX
2.53% 2.53%
SUSHI
SUSHI
1.01% 1.01%
UMA
UMA
0.5% 0.5%
UNI
UNI
1.01% 1.01%
USDC
USDC
7.99% 7.99%
XTZ
XTZ
2.05% 2.05%
YFI
YFI
1.73% 1.73%
ZEC
ZEC
0.5% 0.5%
ZRX
ZRX
1.25% 1.25%

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Background on Gemini Earn

Gemini Earn is a product provided by Gemini, a cryptocurrency exchange that was founded in 2014 by Cameron and Tyler Winklevoss – the famed twins caught up in the Facebook saga.

The exchange that appears to pride itself on playing by the book, complying as best they can with all rules and regulations. It is a fully compliant and fully registered company that serves all 50 US states.

The Gemini Earn product itself was launched in February 2021, designed to provide Gemini exchange users with the ability to earn a return on their crypto holdings. 

Gemini has raised $400 million in funding from a Series A round in November 2021. This was led by Morgan Creek Digital, with participation from ParaFi Capital and several others.

Why Gemini Earn?

Gemini Earn is a lending product from one of the most compliant platforms in the cryptocurrency world, which can provide significant peace of mind for its users. It allows them to earn interest on a wide range of cryptocurrencies, including several assets that aren’t supported by many other lending platforms.

On top of this, it is one of the only crypto lending platforms which serves New York – an area that has typically been notoriously difficult for accessing crypto-related services.

The platform also partners strictly with accredited borrowers such as Genesis, to ensure the utmost safety of Gemini Earn funds. All borrowing partners are vetted through a risk-management framework, with frequent financial checks of those entities throughout the partnership.

Lastly, Gemini Earn is one of the safest alternatives to decentralized lending platforms, which carry a different assortment of risks such as smart contract bugs and network failures.

How Does Lending on Gemini Earn Work?

To get started with lending cryptocurrency via Gemini Earn, visit https://www.gemini.com/earn.

Click on the “Start earning” button and sign up if you don’t already have a Gemini exchange account.

Select a supported cryptocurrency from the asset list to deposit. You will then enter how much of the asset you wish to transfer to Gemini Earn and how often.

Confirm the transfer to complete the process and begin earning interest!

You may also use the Gemini Earn calculator provided to roughly estimate how much interest you can expect to earn on your assets.

Once you wish to remove funds from your Gemini Earn account, simply click “Redeem” next to the asset you wish to move. Enter the quantity you wish to take out and confirm the transaction to complete it.

How are cryptocurrency interest payments made?

Gemini Earn pays users interest on a daily basis, in the form of the same asset that is deposited. A user’s balance and interest accrued can be viewed on the Gemini platform and is distinguished from their exchange balances.

Interest is generated from Gemini lending Gemini Earn balances to vetted institutional borrowers, such as Genesis.

Which assets are supported?

Currently, Gemini Earn supports a wide variety of stablecoins including GUSD, USDC, UST and DAI, as well as BTC, ETH, MATIC and several other assets including DeFi tokens.

How to get involved?

To stay up-to-date with news and announcements from Gemini, follow them on Twitter or keep an eye on their official blog.