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Earning Crypto Passive Income on OKEx: Savings, Staking, or C2C Loan
Figuring out how much money you need to save and how to grow your own assets could be challenging. Whether you are new to blockchain technology, shifting from conventional banking, or seeking to get out of crypto phobia amid the global gloom, here is a quick start guide to help you understand how to grow passive income on OKEx.
Ways to earn passive income on OKEx
Saving is the most common way to accumulate wealth, whether in traditional banking or in the crypto space. Here at OKEx, you can simply deposit your spare cryptocurrencies inside your Wallet to earn extra even without trading or when the market falls short. With our value-added Savings service, interest will be accrued every day from the second day of depositing, so you can just sit back and wait for the gain to come to your pocket. Currently, we support a total of 32 assets for margin trading in Savings, with no minimum deposit requirement and is very flexible for withdrawals.
You might have heard of staking as essentially the easiest and one of the safest options for gaining extra income, where users are encouraged to hold coins in the long term for higher yield rewards when the staking period expires. To stake at OKEx Pool, simply choose a staking period, check their estimated yield return prior to subscribing to the service, and put the coins in your Mining/Staking Account. You’ll then receive regular yields denominated in the corresponding staked assets. Or you can subscribe to the new Term Deposit service to stake coins ranging from one month to three months with different returns in the corresponding staked assets. Did you know that by participating in staking, you’re also taking part in our supernode consensus mechanisms and will be rewarded for your account’s participation to provide consensus, vote on changes and validate transactions on-chain?
You can also lend your crypto on OKEx as well to earn passive income. Our latest C2C Loan is an open marketplace where borrowers and investors can either take or give loans with ideal interest rates, loan period, alongside a sufficient degree of transparency and safety. Right now, we accept Bitcoin (BTC) as collateral and Tether (USDT) as the loan currency (more assets will be supported in the future). That means, borrowers can hodl their BTC and take on USDT to support their trading strategies and financial needs, while investors can utilize their USDT to earn passive income at good interest rates.
So, what should I choose?
If you wish to opt for a more traditional saving plan, go for Savings – all you need to do is deposit your assets into the Wallet, and you can withdraw them whenever you need. However, the amount of interest you earn will obviously vary with the number of coins you have.
Staking is definitely another safe option for growing your passive income – the longer you stake, the more you make, right? It is, in theory, a reliable means to receive periodic payouts without having to spend time on catching up on the market for your staked assets, you could take the spare time on other investments as well. Despite offering a higher yield than Savings, you might still want to check out the ROIs on your staked assets before committing to decide if it’s worth your while. This is especially true for swing traders, as your assets will be locked up and unable to withdraw until the staking period comes to an end (if you opted for fixed-term staking).
For C2C loan, you’re showing your love to follow crypto traders by maximizing the use of your crypto resources on hand. To minimize the risk of the drop in collateral value (i.e. BTC price here), our C2C Loan platform has already set up an alert level and liquidation level for different loan-to-value ratio, so you could loan out your spare coins worry-free. If the collateral value does drop below the liquidation level, and the borrower still fails to increase the collateral amount, the system will close the position to repay the principal, interest, and overdue penalty interest to you, meaning that you will be able to collect your principal regardless of the collateral value drops.
Whichever way of saving you prefer, you can be rest assured that we have a sophisticated risk management system in place to keep your hard earn assets safe. Grow your passive income today at OKEx!
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
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