Cryptocurrency lending Platform by Zebpay launched in India: Cryptocurrency exchange ZebPay on Thursday announced the launch of ZebPay Lending Platform which will allow users to lend their coins to ZebPay, on which they can earn returns depending on the coin and the time period it is loaned for. The crypto exchange said in a statement that the ZebPay Lending Platform will generate returns on users’ crypto investments if they lend select cryptos. This will provide them an opportunity to earn a passive income by adding on to the returns gained from rising crypto prices, it added.
According to the statement, the lending feature will support Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and Dai (DAI). “Depending on the term of deposit, users will be able to generate returns of up to 3% on their Bitcoin (BTC), up to 7% on Ethereum (ETH) and Dai (DaI) and up to 12% on Tether (USDT),” it claimed.
Cryptocurrency Lending terms
ZebPay said that investors can lend their crypto for an open term or a fixed term with the ZebPay Lending Platform. Under the open term, investors will not need to lock-in their crypto under the open term deposit and will earn returns as applicable for the day, with the returns being deposited in the investor’s trading wallet along with the principal amount.
The fixed-term will allow investors to lend their crypto for 7-day, 30-day, 60-day and 90-day periods, with the rate of return varying for each. In this case, tokens cannot be withdrawn before the end of the term. In case the investor chooses to withdraw early, a small penalty will be applied.
Upon maturity, the returns earned will be deposited in an investor’s trading wallet along with the principal amount. The returns offered on the ZebPay Lending Platform will be calculated directly based on the amount of crypto an investor holds.
Cryptocurrency Lending platform for passive income
Commenting on the launch of the cryptocurrency lending platform, Avinash Shekhar, Co-CEO, ZebPay, said, “ZebPay has always encouraged investors to hold on to their crypto for the long-term in order to benefit from the best possible returns. Through the ZebPay Lending Platform HODLers, as we call them, can earn passive returns on top of those gained from a rise in crypto prices. The crypto holdings of ZebPay customers are essentially going to do the work for them as the investors earn passive income with ease.”
