Academy Press Room Article

OKEx Launches EARN to Provide Diverse Passive Crypto Income Options

2020.03.24

OKEx (www.okex.com), the world’s largest cryptocurrency spot and derivatives exchange, announced the launch of EARN, a one-stop shop that allows users to access all financial products OKEx has to offer, including staking and Savings, which enable users to earn interest income.

Continuing the passive income dialogue from Blockchain Economy 2020 in Turkey, Lennix Lai, Financial Markets Director of OKEx, furthers his opinion on EARN. “#FinanceAll is our goal at OKEx. The permissionless nature of blockchain basically enables everyone on the planet with access to the internet could earn interests. It’s not about how high the rate is – where it’s an adoption of finance on a global scale,” said Lennix.

“As the blockchain-based financial system is taking shape, passive income in cryptocurrencies will be a game-changer in achieving financial inclusion. Apart from Savings, which is a more common way of earning interest and has been added to EARN, staking generates income in a very unique way compared to traditional financial products,” Lennix added. “Blockchain is still a rather complicated idea to the mass. However, passive income is something we can all enjoy, hassle-free, as simple as a few clicks to buy a cryptocurrency with their local currency and earn passive interest income by staking coins.”

Three Major Ways to EARN Passive Income

1. Term Deposit – new product added to the portfolio
It is fixed-term staking, with which a user can deposit a certain amount of a cryptocurrency in return of rewards for their contribution to a blockchain network.

OKEx offers terms ranging from one month to three months with different rates for a plethora of crypto assets.

2. Savings – a value-added service that grows one’s assets in Wallet
When a user deposits his fund into Savings, the fund will be lent out as margin loan to margin traders. The user can then share OKEx’s interest income received from margin loans. The interest income begins to accrue daily from the second day of depositing.

OKEx currently supports a total of 32 assets in Savings, including BTC, LTC, ETH, ETC, BCH, USDT, BSV, DASH, EOS, NEO, QTUM, TRX, XRP, ADA, ALGO, ATOM, BTM, BTT, ELF, HC, IOST, IOTA, LINK, OKB, OMG, ONT, VSYS, XLM, XMR, XTZ, ZEC, and ZIL.

3. Staking – Gaining extra with great flexibility
Without term limits, staking allows users to stake their crypto coins in their Mining/Staking Accounts for staking income while retaining the flexibility to withdraw their funds anytime. The staking service has also been upgraded to settle yields in the corresponding staked assets for better user experience. For example, all EOS staking orders will be settled in EOS, and IOST skating orders in IOST, giving much more convenience for managing profits.

“EARN is a key puzzle to our #FinanceAll initiative. When designing EARN, we looked for a way to integrate and serve as a one-stop-shop for users to easily manage trades and investments under the same roof on OKEx. Bringing the market a user-friendly crypto asset management platform is important to attract wider participation in crypto and DeFi of the public,” said Alysa Xu, Chief Strategy Officer of OKEx. “At OKEx, we don’t encourage users to speculate on the market but to invest in assets that are truly valuable. If one wants to HODL for passive income and future growth in value, EARN is considered one of the safest options out there.”

For more details about EARN, please refer to OKEx Academy.

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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.

About OKEx

The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact:
Vivien Choi
Email: [email protected]
Telegram: @vivienchoi

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