As cryptocurrency adoption continues to grow, users worldwide seek more ways to maximize their earning potential by putting their holdings to work. While trading is among the more traditional avenues for users to generate returns, most exchanges don’t usually offer any additional benefits for crypto holdings sitting idly in customer’s wallets.
This is where CoinZoom comes into the picture. To enable users to generate maximum value from their digital assets, CoinZoom, one of the largest and highly regulated crypto exchanges, offers users an option to earn as much as 20% APY on crypto savings accounts via its CoinZoom Earn feature.
Opening A Passive Income Stream While HODLing Crypto
With cryptocurrency adoption growing at an unprecedented rate, governments and financial regulators worldwide are continuously adding new regulations and guidelines for better governance of the blockchain and cryptocurrency ecosystems.
Owing to the increasing regulations, several crypto exchanges, both centralized and decentralized, have found themselves running afoul of governments and regulators. While some platforms were able to adapt and thrive, several prominent exchanges are finding it difficult to operate in certain jurisdictions.
For instance, Binance, one of the largest crypto exchanges, has received notices from governing bodies of the US, Canada, Europe, Japan, Singapore, and several other countries. Regulatory policies have become so complex that the UK's Financial Conduct Authority (FCA) has prohibited Binance from operating in the UK.
Since each country has specific KYC, AML, and other regulatory guidelines, both centralized and decentralized exchanges have a tough time implementing and adhering to them. Amidst the chaos, CoinZoom has emerged as the only fully-regulated cryptocurrency exchange that adheres to AML, KYC, FinCEN, and OFAC compliance demands of more than 140 countries.
CoinZoom is much more than a crypto exchange, offering a full suite of crypto-related services like crypto-backed debit cards (CoinZoom Visa Cards), crypto savings account (CoinZoom Earn), a remittance service (ZoomMe), and many more features.
Per Todd Crosland, CEO of CoinZoom, “We are striving to be more than just a crypto exchange for our customers. We provide a platform that allows customers to invest, spend, send, and now earn interest on all of their digital assets as well as USD, making it seamless to utilize CoinZoom for all of their banking needs.”
While each of these products offers advantages for users, CoinZoom Earn stands out as another value-added offering that complements the existing suite of services, given its ability to generate passive income from the crypto users already hold.
Users who already trade on CoinZoom’s exchange can opt for the CoinZoom Earn feature and receive up to 10% APY on over 40 different cryptocurrency and USD deposits. Other than the base APY, CoinZoom Black VIP users can earn up to an additional 20% APY (paid in Zoom tokens) for a total of up to 30% APY on their crypto holding.
New users simply need to open and fund a CoinZoom wallet with fiat currency, purchase cryptocurrencies, and opt for the Earn feature to begin earning interest. One of the standout features of CoinZoom Earn is that it doesn’t require any long-term commitments from the customer’s end.
Interest earned on cryptocurrencies accrues daily and is paid out every 7th day of each month. Furthermore, there is no capping on withdrawals. Users can withdraw the interest earned from their wallet as and when they please, re-invest the earnings into their trading account, or spend it via the CoinZoom Visa card.
Currently available for all customers across 192 countries, the CoinZoom Earn service doesn’t charge users fees to transfer crypto balances. Moreover, besides earning interest on their crypto deposits, users also generate 10% interest on USD deposits - something many crypto exchanges do not offer.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.