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I have been a KUCOIN customer for some time now. I was really happy when @Publish0x defined a really simple and convenient withdrawal process using this centralized exchange, where I can quickly withdraw some earnings and exchange them for BTC or ETH, which I prefer to HODL long-term.
I believe I was among the first one to test this @Publish0X feature and compliment it in a specially dedicated blog post.
Today I would also like that KuCoin is also turning into one of my favorite CEX providers to HODL a part of the portfolios, where I could earn a passive income lending BTC and ETH assets. Please note - this is not a referral and there is no referral link to be clicked. I would just like to iterate my personal experience hopefully readers can find it informative and helpful.
While the assets sit parked in a main account for HODL the user has possibility to just click "Lend":
This immediately opens up the order screen where the use could easily see how this internal lending market is organized and the latest rates:
I would like to point out that there is an Auto-Lend function, which is supposedly targeted at making this process completely passive, however I am not completely satisfied with it. It asks the user to select a desired rate range and the market seems to be fluctuating and gradually going down, i.e. rates gradually finding lower levels. Thus the Auto-Lend would create orders, which may remain unfulfilled for a prolonged periods of time. I was not satisfied with that as I found out the assets I hold on KuCoin would not earn passively all the time.
As a result, I ended up using the manual mode and got into the habit of using the mobile KuCoin App several times a day to see of some of the lending positions were repaid in order to place new orders. Despite the fact that one lends the asset for 7-day, 14-day, or 28-day period, I found out that often the position is repaid within the same day with some interest earned and I could lend it again and this may happen several times a day. So when I switched from Auto-Lend to doing it manually through my phone, the pace of earning increased.
It is important to note that the rates on KuCoin are probably not the best ones out there, so if your primary purpose is to earn interest on your assets, perhaps it is not going to be the best venue to do so. I just happen to be a KuCoin user for some time and together with the PUBLISH0X convenience and other good features, I found out I could further strengthen my HODL and accumulate philosophy on crypto as I have described in previous posts.
