Best XSGD (StraitsX Singapore Dollar) Interest Rates of Mar 2023

Best XSGD Interest Rates

The table above compares the best XSGD interest rates. As you’ll notice, there are base rates and max rates. Since the max rates often have certain requirements, such as locking the asset for a fixed amount of time, the best StraitsX Singapore Dollar interest rate will depend on your willingness to fulfill any of those requirements.

For example, platform A might have a higher base rate than platform B, but platform B can offer a higher max rate if you lock your XSGD for one month. So the best XSGD interest rate would depend on your willingness to lock the asset.

Where To Earn the Highest XSGD Yield

The max APY column will show where you can earn the highest XSGD yield, depending on your willingness to fulfill any requirements specified. Some platforms also have tiers, as specified, so you may only be able earn the highest XSGD interest rate on the first X amount of XSGD.

In addition, there is a toggle above the table where you can change the location between United States and International. The platforms and StraitsX Singapore Dollar rates may change for US vs non-US. The table also includes other details relevant to determining the highest XSGD interest rates, such as pointing out when a platform is unavailable in a specific US state.

Best XSGD APY / Best XSGD APR

The table shows XSGD rates in APY (Annual Percentage Yield) by default. However, some platforms advertise their rates in APR (Annual Percentage Rate), so the table will specify when rates are in APR. APY takes into account compound interest, while APR does not. If a platform has XSGD rates in APR, you can use tools like this to convert XSGD APR to XSGD APY.

Best XSGD Staking Rates / Best XSGD Lending Rates

For earning yield, staking XSGD is sometimes used interchangeably with lending XSGD. So those looking for the best XSGD staking rates to earn interest might be looking for the best XSGD lending rates to earn interest. With the CeFi platforms covered here, you are lending your XSGD to centralized entities, as a way to earn yield on XSGD.

How To Earn Interest on XSGD

To earn interest on XSGD, an individual would create an account, then there is usually a KYC (Know Your Customer) process to verify your identity. From there, you can often just deposit XSGD to start earning interest. To earn the highest XSGD APY, as shown in the max APY column, there are sometimes other requirements, as specified in the table.

Why Earn XSGD Interest

The high yield offered by XSGD interest accounts is likely the main reason an individual would want to earn XSGD interest, rather than letting it sit idle. Also, since StraitsX Singapore Dollar is a stablecoin pegged to the US dollar, one might want to earn yield on XSGD due to the low volatility relative to the US dollar.

However, there is always risk that you lose some or all of your assets. For example, StraitsX Singapore Dollar could depeg from the US dollar, or a CeFi platform could halt withdrawals on the coins you deposited. Do your own research to make sure you understand all the risks of any particular cryptocurrency, or platform holding your crypto. No cryptocurrency or platform is without risk.

Best XSGD Interest Account / Best XSGD Savings Account

CeFi platforms are sometimes referred to as crypto interest accounts or crypto savings accounts (though very different from traditional bank accounts). The best XSGD interest account / best XSGD savings account might vary based on an individual’s preferences and situation.

For instance, some platforms have tiers, so what might be ideal for one person, might be less ideal for someone with a much higher amount of XSGD. You also wouldn’t want to use a platform that you believe is too risky, even if everything else seems ideal.