Zebpay lending platform: now deposit Bitcoins, other cryptos like FD bank and earn interest on them

NEW DELHI: If you are still not satisfied with the mind-blowing returns that cryptocurrencies provide, you can also earn extra by depositing your Bitcoins and other coins as a fixed bank deposit and earning interest.

ZebPay, one of the largest cryptocurrency exchanges in India, announced Thursday that it will launch a lending platform where crypto investors can lend their coins to the company to earn fixed passive returns. This will be in addition to any capital appreciation.

At launch, the lending feature will support Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Dai (DAI). Depending on the length of the deposit, users will be able to generate returns of up to 3% on BTC, up to 7% on ETH and DAI, and up to 12% on USDT.

The company said investors can lend their cryptos for an open term or a fixed term on the ZebPay lending platform. Under the open term, investors will not need to lock their crypto into the deposit system and will earn returns if any for the day, and these will be deposited into the trading book of the investor with the principal amount.

The fixed term allows investors to lend their cryptos for 7 days, 30 days, 60 days and 90 days, with the rate of return varying for each term. Also in this case, the tokens cannot be withdrawn before the end of the term. In the event that the investor chooses to withdraw early, a small penalty will be applied.

“ZebPay has always encouraged investors to hold their cryptos for the long term in order to benefit from the best possible returns. Thanks to the HODLers of the ZebPay lending platform, as we call them, one can get passive returns in addition to those obtained through a rise in the price of crypto. ZebPay customers’ crypto holdings are basically going to do the work for them, as investors easily earn passive income, ”said Avinash Shekhar, ZebPay co-CEO.

Cryptocurrencies have been all the rage for the past year and a half, as the prices of all major coins have increased exponentially. They have emerged as the best investment class today, amid wider acceptance among the investment community.

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