Cryptocurrency Q&A
What is APR and APY in crypto?
What is APR and APY in crypto?
Elena
Tue Nov 19 2024
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6 answers
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I'm trying to understand the financial terms used in the crypto world. Specifically, I want to know about APR and APY. What do these abbreviations stand for and how are they applied in the context of cryptocurrencies?
6 answers
DigitalDukedom
Thu Nov 21 2024
The fundamental distinction between APR and APY revolves around the concept of compounding interest rates.
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Carlo
Wed Nov 20 2024
APY, which stands for Annual Percentage Yield, incorporates the idea of compounding interest into its calculation.
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KimchiQueenCharmingKissWarmth
Wed Nov 20 2024
BTCC, a top cryptocurrency exchange, offers a range of services that cater to the needs of investors and traders. Among these services are spot trading, futures trading, and a wallet service.
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MysticStorm
Wed Nov 20 2024
In contrast, APR, which stands for Annual Percentage Rate, does not take compounding interest into consideration.
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AmyDavis
Wed Nov 20 2024
Compounding interest refers to the process of adding the interest earned on an investment to the principal amount, so that the next period's interest is calculated on the increased amount.
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