Since the beginning of this year CEX.IO, one of the leading crypto to fiat exchange platforms has been introducing opportunities that allows you to get paid for holding your cryptos in your wallet. They started with Staking which I tested and have reviewed before. Staking has been successful with APY going up to 25%. This month they have introduced another opportunity called Savings Account. All this opportunities are the efforts to help clients profit from their hodled cryptos without having to risk trade.
These opportunities are part of the passive incomes streams I have taken and continue to benefit from. My interest in passive income is inspired by Warren Buffett, billionaire investor and co-founder of Berkshire Hathaway. He once said;
If you don't find a way to make money while you sleep, you will work until you die.
So I have gathering, testing and reviewing some passive income opportunities and CEX.IO has been one of those on my portfolio. Now, the earning opportunites under CEX.IO include staking and savings account. I have dealt with staking before, where I have invested on Zil and TON tokens with 20 and 12.5% APY respectively. So let's dive into the savings account.
Savings Account
Just like in the fiat banking business, CEX.IO has 2 savings accounts; the Flexible and Locked (fixed) savings account. With the flexible savings account, you deposit your cryptocurrencies to earn interest with flexibility to redeem any time you want. This means you can withdraw any day without be charged or loosing the interest you made as in fixed account. The interest in savings account is calculated daily after 24 hours of subscribing and the good thing you are guaranteed of interest even the market misbehaves. The following screenshot shows the top 7 coins you can invest on under flexible savings account with highest APY being 20%.
On the other hand, locked savings account which not yet running as of today, allows you to deposit coins and hodl them and interest for a defined time frame. One characteristic of locked savings accounts is that the interest is directly proportional to the savings time frame i.e If you take 30 days its 4%, 60 days its 7.5% and 90 days may be 10.5%. CEX.IO has only BTC, ETH and USDT under locked savings and be locked for 30, 60 and 90 days with varying interests as shown by the screenshot below.
Advantages of savings account
- Guaranteed interest: Whether the market goes down or up, you always get the interest.
- Interest is paid crypto: If you ZIL, you are paid in ZIL and this grows you crypto balance.
- High profits: Unlike coins sitting on you wallet and not doing anything, here they give you fruits. And, also because you are hodling, increase in price value of the coins means you be getting bigger profits due to accumulated coins by interest.
So do not waste time, Join CEX.IO and starting seeing your money working for you while you sleep.
To join click here
NB: This is not financial advice, seek financial advice from relevant authorities/experts.
Thank you my readers and followers, Let thy money profiteth thyself!
