{"id":262855,"date":"2024-10-22T15:49:23","date_gmt":"2024-10-22T15:49:23","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/10\/22\/bitcoin-yield-on-dollars-yes-please\/"},"modified":"2025-06-25T17:10:46","modified_gmt":"2025-06-25T17:10:46","slug":"bitcoin-yield-on-dollars-yes-please","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/10\/22\/bitcoin-yield-on-dollars-yes-please\/","title":{"rendered":"Bitcoin Yield On Dollars? Yes, Please."},"content":{"rendered":"

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Follow Frank on X<\/a>.<\/figcaption><\/figure>\n

This morning, River<\/a> announced its Bitcoin Interest on Cash feature through which it will offer a 3.8% interest rate \u2014 paid out in bitcoin \u2014 on the dollars you leave in the custody of the platform, which is FDIC insured up to $250,000.<\/p>\n

This yield is comparable to what you\u2019d earn in a high-yield savings account through an online bank like Ally, but again, you\u2019re earning bitcoin with River.<\/p>\n

If you\u2019re like me, a Bitcoin enthusiast who still likes to keep a sizable cash buffer in case of emergency, this is a pretty sweet deal. See, I have one of those high-yield savings accounts through Ally, and I tell myself I\u2019m going to take the yield I earn each month and buy bitcoin with it, though, I rarely remember to do this.<\/p>\n

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Now, with River, I can essentially automate that process, allowing River to convert that filthy fiat yield into bitcoin for me at the end of each month.<\/p>\n

(Well technically, I can\u2019t do this because I live in New York State, one of only two US states in which River doesn\u2019t serve clients. We have this thing in New York \u2014 a land once home to free people but that is now drowning in bureaucracy \u2014 called the \u201cBitLicense<\/a>,\u201d which makes it quite difficult for Bitcoin startups to do business in the state<\/a>, but I digress.)<\/p>\n

There are no monthly fees or minimums to get started using this product, and users can withdraw their cash whenever they please.<\/p>\n

This isn\u2019t just something for Bitcoiners to celebrate, but it\u2019s also a great way to onboard normies to Bitcoin, most of whom are scared to buy bitcoin because of its volatility. Now, they don\u2019t have to buy it; they can just earn it for holding onto the type of money they\u2019re much more used to holding.<\/p>\n