How to Earn USDT in 2022
USDT is a cryptocurrency that imitates settings intrinsic to the U.S. dollar. This asset is collateralized with reserves of fiat currency held by its issuer Tether Limited. One of its main advantages is extremely low volatility. In this guide, we’ll tell you how to earn USDT in 2022 using Honee crypto wallet.
Honee allows you to earn USDT through farming and staking in liquidity pools. By locking your USDT into the pools, you’ll be getting part of the fees paid by other participants for making swaps.
On top of regular liquidity provision, Honee provides you with an opportunity to farm yield. ‘Farming’ refers to additional rewards for liquidity providers. Apart from the usual fees, they receive extra everyday payouts.
Before You Start Farming in the Pools
- Any coins or tokens are added into a pool in the same proportions
- Pools can vary greatly in terms of yearly returns (check out the APY value on a specific pool’s page prior to supplying liquidity)
- You can add or remove your coins/tokens at any time
- Remember that when staking and farming highly volatile crypto assets, you are prone to Impermanent Loss
Little-To-No-Risk Farming
For those who want to earn USDT almost risk-free, a go-to option would be stablecoin farming. In Honee, you can select a special farming program for the USDTE/USDCE pair and make an additional 0.1% in BIP coins every day.
USDTE and USDCE in Honee are fully backed USDT and USDC tokens mirrored from the Ethereum network.
The difference between USDT and USDC is that they are issued by different parties. USDC is minted by Circle and Coinbase, while USDT, by Tether Limited.
How to Earn USDT in 2022
To start earning on swaps, add USDTE liquidity into the pool:
- Select the Yield farming USDTE / USDCE card and click on Add liquidity;
- Enter either of the tokens you’re adding, the amount of the other one will be calculated automatically;
- Press Add;
- Double-check everything and if correct, click Confirm;
- Once the operation has gone through, the information about the transaction will be available in Minter Explorer.
Now you know how to earn USDT in 2022 with Honee. We hope that this simple guide will help you become more financially independent, and you’ll be associating the process of earning crypto with ease and safety.
