ZebPay introduces FDs for bitcoins

Cryptocurrency has gained a lot of popularity. Now there is an option to deposit your Bitcoins and other like coins just like a bank FD. It gives one a chance to earn interest on them. 

There has been an announcement made by ZebPay about launch of a lending platform. The company being one of the leading cryptocurrency exchange of India, informed that this platform would enable the investors to deposit their coins to earn income just like interest on a fixed deposit. This being a cherry on cake, an additional advantage on top of any capital appreciation.

ZebPay is one of the fastest growing cryptocurrency exchanges headquartered in Singapore with a recently established presence in Australia. In December 2018, the company launched its global exchange. 

The investors can either opt for the open term or the fixed term for lending cryptos on this platform. Under the open term, investors do not need to keep their cryptos locked in for a fixed period. They shall get returns as applicable for the day together with the principal amount in their trading wallet.

The returns offered on the ZebPay Lending Platform will be calculated directly based on the amount of crypto an investor holds. 

In the case of the fixed term, the investors can lend their cryptos for a period ranging from 7 days to 90 days. There is an option available for lending up to 30 days and 60 days too. The returns are dependent upon the tenure of lending.  The investors cannot withdraw the token before the end of the term and if it is done, he/she shall be charged a small penalty for the withdrawal. 

Bitcoin-BTC, Ethereum-ETH, Tether-USDT and Dai-DAI, will be supported by this lending feature. The users shall be able earn returns up to 3% on BTC, up to 7% on ETH and DAI and up to 12% on USDT.

Acceptance of Cryptocurrency is increasing as an emerging asset class. There is a rise in the prices of crypto and the investor can also earn passive returns on it at the same time. 

ZebPay customers are likely to earn fixed passive income with ease as the company encourages them to hold on to their cryptos for a long term through its lending platform. As the lending platform is known as HOLDers, HODL stands for “hold on for dear life” meaning that one is holding onto their cryptos despite of the declining prices.

Bitcoins and other coins now inspire the holders to gain extra benefits because of this lending feature over and above the high price benefit.  

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Krishna Rath is a SEBI Registered Investment Adviser, and since 2015 has been educating netizens on investments and insurance. Krishna is a fee only SEBI RIA and is Odisha's first SEBI RIA. With background in IT, Krishna is changing the advisory space with new innovations in AdvisoryTech.

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