It’s tough being a crypto HODLer. You store away your tokens hoping for a market shift that will make you a profit a la Bitcoin’s bull runs in 2017 and 2021. The waiting game of constantly checking the market and not getting any income while you do so can be taxing.
The good news is that the crypto market has continued to innovate and now, there are many options for HODLers to make some money while they watch the market. One of these, Coin Planet, has announced a slew of features to appeal to all types of crypto HODLers.
Welcome to the Coin Planet
Coin Planet is a CeFi lending platform that helps crypto holders make a passive income from their coins. This can be done either through lending or token swapping.
In the case of the former, the Coin Planet user deposits their coins and these are then lent out to other people. These people then pay an interest (APY) on the tokens which are paid out to the owner. While a lot of token holders are reluctant to give up their tokens for large periods of time, Coin Planet offers a solution to this.
The platform offers both fixed-term investments and more flexible ones that give daily payouts. For those who want to get even more rewards, Coin Planet has a tiered membership system. Those on the top levels can enjoy higher APYs and will even get some of their crypto back when they initiate swaps.
For token swaps, Coin Planet has 14 cryptos that can be swapped and over 292 swap pairs. For lending, 12 tokens can be used to earn interest and build a portfolio of passive income.
As a company, Coin Planet has some impressive backing behind it. Created by one of South East Asia’s biggest crypto liquidity providers, it operates in Singapore under Lithuania crypto licensing.
Currently, over 4,000 lenders and 50 corporate clients make use of Coin Planet and it is bridged to more than 80 crypto brokers and exchanges. Besides serving consumers themselves, Coin Planet is also focused on increasing marketing liquidity for its parent company and so far, has accumulated over $180 million in crypto under its management.
Empowering Crypto Holders
One of the biggest philosophies behind cryptocurrency is the empowerment of the everyday person. One of the ways that platforms like Coin Planet do this is by giving users a chance to earn a passive income from their crypto.
While they wait for market changes, they can enjoy all the benefits of cryptocurrency, whether they are trading or not.