If you’re looking for a way to earn interest in your cryptocurrencies, 2 platforms that may come to your mind include Anchor Protocol and Nexo. How are they different, and which should you choose? Here’s what you need to know:

The difference between Anchor Protocol and Nexo

The Anchor Protocol is a decentralised platform that only allows you to earn interest on UST. Meanwhile, Nexo is a centralised platform that allows you to earn interest on a wider variety of cryptocurrencies, such as BTC, ETH, and many more. Here’s an in-depth comparison between both platforms:

Supported cryptocurrencies

Here are the different cryptocurrencies that you can deposit into either account:

Anchor Protocol only allows you to deposit UST

The only cryptocurrency that you can deposit on Anchor Protocol is UST, which is an algorithmic stable coin. This is a stable coin on the Terra Network, and...