Cryptocurrency Q&A
What does 100% APY mean?
What does 100% APY mean?
SamsungShiningStar
Mon Nov 18 2024
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5 answers
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I'm trying to understand the concept of APY, specifically what it means when something offers a 100% APY. I want to know how this percentage affects my investments and what kind of returns I can expect with such a rate.
5 answers
CryptoLord
Wed Nov 20 2024
APY is an acronym that stands for annual percentage yield.
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DavidJohnson
Wed Nov 20 2024
This metric provides a comprehensive view of the interest earned on an account over a one-year period.
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JejuSunshineSoulMateWarmth
Tue Nov 19 2024
It takes into account not only the basic interest rate but also the effects of compound interest.
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Margherita
Tue Nov 19 2024
Compound interest is the process by which interest earned on an account is added to the principal balance, and subsequent interest is earned on the new, higher principal balance.
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CryptoNerd
Tue Nov 19 2024
In essence, APY demonstrates the rate at which an account's balance can grow each year, factoring in the power of compounding.
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