Here’s What New Users Need to Know About Trading on the KUCOIN Exchange: Part Five
In this fifth series, we focus on how to make a passive income when you don’t want to trade.
How To Make Passive Income on KuCoin Lend
- What is KuCoin Lend?
KuCoin Lend is a C2C product launched by the KuCoin Spot Trading Platform. Users can lend their crypto assets through the KuCoin Lend platform. Users that need to borrow funds will match with lending orders on their own. Once the transaction is matched, the lending user will receive value-added income.
- Advantages of KuCoin Lending
Well, the KuCoin Lending platform has the advantages of low fees, high annualized yield (annual yield is about 8–12%) and low risk. It currently supports double digit cryptocurrencies and has a perfect risk control system, which can better protect the users’ assets.
- How to Lend Funds to KuCoin
Step 1: Log into the website (preferably bookmarked to avoid phishing) and ensure that the assets to be lent are in your Main account.
Step 2: Go to “Earn” and click to proceed to the “Lend” page.
Step 3: Fill in the USDT amount ($10, other currencies require more or less) to lend and the range for the daily interest rate (0–0.2%), select the period (7, 14, 28 days), and then click on “Confirm” to complete.
For more information about KuCoin Lend, you can refer to: https://support.kucoin.plus/hc/en-us/articles/360036053154-How-to-Lend-Your-Crypto-
How To Make Passive Income on Staking
- What is Staking?
Staking is holding funds in a cryptocurrency wallet to support the operations of a blockchain network. Most commonly, users get rewards for simply depositing and holding coins in an exchange.
By staking on Pool-X, users can earn double income: namely the staking income and POL mining income, which are released daily.
- What are Types of Pool-X Staking Products?
Pool-X has two types of staking products: Flexible Deposit and Fixed Deposit.
Flexible Deposit products can be staked, and you can apply for redemption (though you will need to wait for the redemption waiting period determined by the project). The staking period for Fixed Deposit products is fixed and redeemable after they have expired.
The staking period varies for each Fixed Deposit product. Usually, the periods for Pool-X Fixed Deposit products are 21, 30, and 90 days. Just like with the product COTI-30D, the staking period is 30 days.
- How to Take Part in Staking on Pool-X
Step 1: Log into the website, go to “Earn” and then “Pool-X”. Click on “Staking” and select ATOM-Staking (which is “Proceeding”) then click “Stake Now”.
Step 2: Enter the “Amount of Staking” and your “Trading Password”, agree with the Cryptocurrency Mining Agreement, and click “Stake Now”. Read the information on each product carefully and cautiously.
Step 3: Users can check the lockup history directly by clicking “Lockup History” once you have staked successfully, or by clicking “Assets” in the upper right corner of the Pool-X webpage. Then, click “Lockup History” and select the coin type you staked whenever you need.
NB: This content is for informational purposes only, and not for financial advice. Trading in cryptocurrency is risky, and while its market is available worldwide 24/7, please do your own risk assessment as you explore. Tell us your experience trading on the KuCoin exchange.
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