How does M1 Finance calculate the APY for digital currencies?

3 answers

• Nov 24, 2021 · 3 years ago
  Sure! When it comes to calculating the APY for digital currencies on M1 Finance, they use a formula that takes into account the current price of the currency, the interest rate, and the compounding period. This formula allows them to determine the annual percentage yield (APY) for each digital currency. It's important to note that the APY can fluctuate based on market conditions and changes in interest rates.
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• Nov 24, 2021 · 3 years ago
  Calculating the APY for digital currencies on M1 Finance is a straightforward process. They consider the current value of the currency, the interest rate, and the compounding period to determine the APY. This helps investors understand the potential returns they can expect from their digital currency investments on the platform.
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• Nov 24, 2021 · 3 years ago
  M1 Finance calculates the APY for digital currencies by taking into account the current market value of the currency, the interest rate, and the compounding period. This calculation helps investors understand the potential growth of their digital currency investments over time. It's important to keep in mind that the APY is subject to change based on market conditions and fluctuations in interest rates.
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