CoinDepo is a growing platform that offers several promising ways to earn crypto online right now. It’s not a common crypto exchange – rather, it is a next-generation financial services provider for digital assets with several important decentralized banking-like solutions. That includes loans without a collateral account and micro-credits in crypto and earning interest on crypto and stablecoins.
These methods of earning money are a lot more reasonable and responsible than what most other providers in the crypto world have. Although the CeFi and DeFi sector for digital assets is growing, there aren’t many actual platforms that offer traditional banking services – at least, there aren’t many reputable sources.
So, let’s see how you can start investing and earning money with CoinDepo.
Earning on Interest
On CoinDepo, you can deposit any amount of funds in the form of digital assets and start earning money passively from it. It’s one of the two main features of this platform. It’s essentially the same thing as the savings accounts that regular banks have.
You can deposit stablecoins or cryptocurrencies and choose the type of CoinDepo Compound Interest Account. Depending on how often you want to collect your return and what type of digital asset you want (stablecoins are valued more), you can receive a gradually higher interest rate (from 12% to 24%).
The interest rate is the APR. It means that this amount represents your yearly profit or how much your deposit will increase in a year. You can still collect the returns every day, but the APR will be 18% for stablecoins in this case. If you want to collect it once a year, it’ll be 6% larger. By keeping, regularly paid interest on your CoinDepo account, your annual income will be even higher, taking into account the compound interest effect.
So, it’s different from the usual way of making money off crypto – making quick actions and taking advantage of huge market movements. Instead, it’s a long game of patience. You literally let your money grow over time, which makes it an excellent long-term investment.
Loans Without Collateral Account
Crypto loans without collateral account are a largely unheard-of feature if applied to cryptocurrencies. What you can usually expect in the decentralized part of the web is regular margin trading. It’s the basic way of investing using the money of a broker, found everywhere among non-crypto brokerage providers.
You don’t need any collateral account to get loans on CoinDepo. The collateral account is a thing you create on exchanges in order to start trading on leverage or on other crypto lending platforms to get a loan. Funds in the collateral account are frozen until the loan is repaid and are idle without bringing you interest income.
CoinDepo offers loans on a different basis – Instant Credit Line without a collateral account. It wouldn’t be fair to say that you can just take a loan without some sort of deposit, though. The thing is: you can only take a loan if you’ve deposited your digital assets in CoinDepo Compound Interest Accounts.
The loan can’t be more than 50% of the value of your deposits in CoinDepo Compound Interest Accounts, in other words, of the value of your CoinDepo portfolio, which is the collateral for the credit line. If you take on a loan and lose it, you’ll be able to repay the debt using your deposited funds. It’s an overall safe system that generates much less stress compared to other methods.
Interest Free Loans
Also, you should note that you don’t have to pay any interest on your loan. There is some interest rate, naturally. However, since you’ll continue to earn interest on your funds in CoinDepo Compound Interest Accounts while you use the loan, the interest required on the loan will simply be deducted from your deposit interest rate. You’ll be able to continue earning money and take on a loan, and since the amount of interest earned will always be higher than the amount of interest on the loan, you will always benefit.
There isn’t a minimal limit on these loans, which means that you can technically deposit even a small amount of crypto into CoinDepo, take an even smaller loan, make a sound investment, return, redeposit, take a slightly bigger loan, and continue to earn interest in CoinDepo.
Simply taking a moderate-to-big loan to invest in a promising crypto project is also a sound decision, as you will continue to earn interest on your CoinDepo portfolio for the duration of the loan, which is unlimited. That’s what most people take these loans for. They won’t be as big as what you can borrow by trading on leverage, but the requirements are also not nearly as strict. They are more humane and mutually beneficial.
Disclaimer:
The information provided in this article is not financial advice. The CryptoTimes is a news and information website that provides information about cryptocurrencies and blockchain technology. The CryptoTimes does not endorse any specific cryptocurrency or blockchain project. Readers are advise
