By
Chainwire
April 23rd, 2024
Besides the benefits for the users, Coin Planet also provides liquidity to the wider crypto market.
When it comes to earning money from crypto, most of us are familiar with buying and holding tokens in anticipation of market shifts or mining them. For years, this was the standard way to earn money from one’s crypto holdings.
But as the industry has evolved, so have the methods of making money from it and now, there is a bigger shift towards passive income. Crypto holders now want to have their crypto generate money for them and not the other way around. Few companies exemplify this marker shift like Coin Planet, a CeFi crypto lending platform making waves in the industry.
How Does Coin Planet Work?
Created by one of the biggest liquidity providers in South East Asia, Coin Planet exists to offer crypto users a chance to make money from their tokens. How this works is that users who deposit their tokens on Coin Planet have the tokens lent out to others.
In exchange, the Coin Planet user gets an APY and eventually gets their initial deposit returned to them on top. Rather than the tokens gathering dust in a crypto wallet, the owner can make an income from it.
Beyond just lending them, users can also swap tokens between 292 swap pairs with zero gas fees.
This has clearly been popular as Coin Planet has secured over 4,000 lenders and 50 corporate clients into its program. It has also prioritized robust token support across the crypto industry, with 12 tokens supported for lending and 16 tokens supported for swaps.
The payouts for these tokens are made on a daily basis, which makes Coin Planet suitable for users who want short-term investments. For a lot of HODLers, there is concern about staking or lending their tokens because of potential market switches.
What if there is a bull run and they want to take advantage of it? Coin Planet’s payout setup, thankfully, doesn’t lock its users in long-term agreements but instead, offers them flexibility.
There are also fixed programs for those who want longer-term investments. For those higher in the Coin Planet membership scheme, there are higher APYs and cryptoback schemes to be enjoyed when they swap.
Besides the benefits for the users, Coin Planet also provides liquidity to the wider crypto market. Currently, it is bridged to over 80 crypto brokers and exchanges and has over $180 million in crypto assets under its management.
Passive Income for Crypto
The crypto market is more robust than ever before and for consumers, this means more ways to reap the rewards of their investment. With companies like Coin Planet, they can make money from their crypto literally in their sleep.