Earn Daily Interest On Your Crypto By Lending On OkEx Cryptocurrency Exchange

by | Dec 28, 2018 | Cryptocurrency, Cryptocurrency News

OKEx | Cryptocurrency exchange | Daily Loans | Daily interest

OKEx, a popular cryptocurrency exchange has now incorporated a new feature that will enable its users to lend their tokens to margin traders and earn interest on them. Pegged as OK PiggyBank will be available for all users, they just have to transfer their spare tokens into the PiggyBank and receive daily rewards.

The company’s website announced and elaborated more about the service on their support section. OKEx will be lending the funds placed by the users in their PiggyBank. A part of the interest received from the margin loans will be kept by them and rest given to the users. The blog post stated:

The logic is simple. When you put your spare coins into OK PiggyBank, we will lend the funds as margin loans to our margin traders. And then, part of the margin interest collected from traders will be allocated as the interest for your OK PiggyBank.

PiggyBank

As of now, the  PiggyBank offers support for Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Tether (USDT), Ethereum Classic (ETC), EOS, and XRP.  All these tokens are also available for margin trading.

The platform will charge 15% of the daily margin interest and the rest will be distributed to the users as per the coins they hold in their account. Furthermore, the profit earned by the exchange will be employed to increase the insurance fund, in case there are some issues with the platform. As and when the system grows these funds could be employed for other purposes as well.

For around a month, OK PiggyBank have been in a testing period. The users can now start receiving daily interest from clients that use margin trading. Notably, there is no lock-up restriction and no minimum deposit requirement in the feature, so the user can withdraw their fund as they see fit.  Indeed the feature is quite lucrative for the small investors who would like to earn an extra profit a day with their funds.

Read more: OKEx Cryptocurrency Exchange Launches No-Expiry Bitcoin Perpetual Futures Contract

 

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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