Krystle Blough • • AAVE
Crypto APY calculator: How much can my crypto earn me?
You’ve got some crypto tokens to your name and you’re wondering, can I make good money by lending these? Probably! Here’s how to find out by calculating APY, short for “annual percentage yield”, which basically tells you how much you can make for depositing your tokens for a year.
Getting the Crypto APY
First, get the APY for your token. You can search “apy” and the name of your token to dig up some APY rates. So if we have DAI, we’d search for “DAI apy”.
Don’t have any tokens yet? Check out our article on 30+ Easy Ways to Get a Little Crypto to Play With, for Free
In this example, we’ll look up APY on the popular defi platform, Aave. Go to app.aave.com/markets and find your token on the list. There you’ll see the supply APY (what you earn for depositing) of 2.26%
How to Calculate Crypto APY
Now let’s calculate yield! Yield is how much you can earn by depositing, or lending, your tokens. Take the APY rate, and divide it by 100. Or you can just move the dot two places to the left. So 2.26 becomes .0226.
Multiply that by the number of tokens you have, which is your token balance. So if I have 50 DAI tokens, it’s 50 * .0226 = 1.13
THAT is your annual yield. In other words, that’s about how many DAI tokens you would earn in a year if you deposited your 50 DAI in Aave. Granted, it’d be a little less than that because you have to pay deposit and transaction fees, but it gives you a rough idea of your tokens’ earning potential.
What if that APY seems low and you’re thinking nah, I’d only deposit if APY went up. You could keep checking back to see if’s changed, or… set up a bot to check for you! You’ve already done most of the work, so here’s how to take a just a few extra steps to get alerted instantly when that APY changes.
How Do I Track Crypto APY?
Go to boto.io and create an account, super easy with google login or just email & password.
Let's go to this recipe: Crypto Aave APY Calculator & Email Updates https://boto.io/bots/46043/
Click "Use This Recipe".
Put your wallet address in the token block and choose the token you want to get APY alerts for.
Get the token contract address from Aave and plug that into the token APY block. To get that, let’s go back to app.aave.com/markets, click on the token, then click on the contract. Copy & paste into your boto.
Now just put in your email address, save, and turn on! You’ll get an email almost immediately, and every day from there. The bot will check your token balance, check the APY, and calculate your potential yield every day.
Want to get these updates more or less often? Adjust the scheduling at the top of your bot. You can also have these alerts go to Telegram, Discord, Slack, or even Twitter.
If you've already made a deposit and want to track how much yield you've accumulated so far, here's a simple tracker for that:
Need any help? Join our Discord or email us: email@example.com
Explore all of our no-code bot recipes, created and shared by people like you: https://boto.io/bots
Check out what we’re up to on Twitter and YouTube!
Krystle Blough is the Head of Community at Boto.io and has been working in education & automation for 15+ years. She has presented at CMX Summit and Wikimania conferences about her experience in increasing adoption of emerging technology. She ran a 50k trail marathon once and now people think she runs fast (false).