CoinDCX, India’s most valued crypto business, has created a crypto yield service called ‘Earn,’ where consumers may generate a return on their crypto assets.
The platform will move the assets under ‘Earn’ across numerous yield-generating options like margin trading, lending, and staking to create profits. The function provides customers with complete freedom and control over their cryptocurrencies, with no lock-in durations and withdrawal at any moment.
The minimum tenor is seven days.
Currently, the organization offers this service on 16 different cryptocurrencies. Tether (USDT) will pay the highest interest rate of 13.05 percent each year, trailed by USDC Coin (USDC) at 9.50 percent, Near Protocolt (NEAR), and Dai (DAI) at 8% each.
The interest rate on Bitcoin (BTC) will be up to 4.75 percent, while Ethereum (ETH) will be 6.01 percent.
The service will be made available to waitlisted users, who will be able to advance up the list by referring new members. However, you must first register and comply with KYC requirements to use the product.
Cryptocurrency exchange, CoinDCX collaborates with major institutional borrowers, third-party loan partners, and staking platforms. The firm is completely committed to protecting users’ assets and has implemented the tightest asset protection procedures to ensure customers’ funds’ security.
“Today’s launch is a tribute to the hard effort our team has put in to create unique goods and services for our community,” stated Sumit Gupta, Co-Founder and CEO of CoinDCX. “ We’re delighted to provide a reliable and accessible alternative for consumers to earn income in cryptocurrencies on their crypto holdings while maintaining exposure to the emerging asset class as digital assets become more widespread.”
CoinDCX’s ‘Earn’ feature follows the recent debut of its Crypto Investment Plan (CIP), which allows users to invest a predetermined sum in cryptocurrency at regular intervals.
CoinDCX, India’s first crypto unicorn, secured $136 million in Series D fundraising in March at a valuation of $2.15 billion, more than doubling the previous funding round of $90 million at a valuation of $1.1 billion. As a result, CoinDCX is now the most valuable cryptocurrency startup in India, surpassing CoinSwitch Kuber, which was valued at $1.9 billion in October.
Author: To The Verge Team
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