As cryptocurrencies continue to gain mainstream adoption, many people are looking for ways to join and benefit from the market. Although day trading is the most common way to make money with digital assets, there are many other money-making opportunities in the crypto space that users can leverage if they know where to look.
For instance, users could easily earn passive income on their idle crypto assets via staking and saving instead of going through the hassle of reading charts and monitoring market movements.
Sadly, while users can stake their digital assets on DeFi platforms, many people are not familiar with the processes involved as they can be too complicated, which consumes time and can also lead to loss of funds.
However, CEX.IO has streamlined the entire process for users, and anyone can earn passive income by simply holding their digital assets on the platform.
What is CEX.IO
CEX.IO is a regulated multi-functional cryptocurrency exchange that offers users access to the digital asset market.
CEX.IO was launched in 2013 and has built an ecosystem that services more than five million customers worldwide.
The exchange supports more than 100 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Uniswap (UNI), among others. The platform also has a fiat-to-crypto gateway that offers customers card payments and bank transfers.
In addition, the exchange provides the necessary tools for crypto trading, staking, and saving, which users can access through its website and mobile apps.
CEX.IO is developing and maintaining robust relationships with several reputable banks across key markets. Thanks to this, the platform can offer a wide variety of payment methods: Visa and Mastercard, bank transfers (SWIFT, SEPA), e-wallets (Skrill, Epay), ApplePay, GooglePay, and more.
Features of CEX.IO
Using a regulated exchange gives customers a measure of security, and as such, CEX.IO focuses on regulatory compliance. The platform is currently regulated and licensed in all the countries it operates in. It is registered with the US FinCEN, Canada’s FINTRAC, and Gibraltar’s Financial Services Commission (GFSC) as a Money Services Business (MSB) and a DLT provider.
CEX.IO is concerned about the security of users’ funds. The exchange holds a significant portion of users’ funds in cold wallets and only a small amount in hot wallets.
The proportion of how much crypto is held in cold and hot wallets is determined by the amount needed to cover day-to-day trading activities on the exchange. Even if there is a compromise, user funds will not be affected as they are kept in cold storage.
CEX.IO attends to its users’ complaints through its customer support system. Customers on the exchange can contact the team via live chat, phone call, email, or the online support center.
While some exchanges target specific regions, CEX.IO adopts a global approach to offer crypto services to millions of people from different parts of the world.
CEX.IO boasts availability in 99% of countries across the globe. It has established its presence in 48 US states.
Staking and Saving Crypto With CEX.IO
Aside from offering crypto trading services to users, CEX.IO has a section for users who wish to earn passive earnings without engaging in day trading. Crypto enthusiasts can save or stake their idle digital assets on CEX.IO and earn rewards.
The exchange allows users to save six crypto assets in two types of savings plans – flexible savings and locked savings.
The flexible savings plan allows users to save four stablecoins – DAI, TUSD, USDC, and USDT. Users can earn up to 3% APY and withdraw their funds and interest at any time.
Although the locked savings plan is yet to be launched, it will allow users to save bitcoin (BTC), ether (ETH), and USDT for a fixed period (between 30 to 90 days). This plan offers higher APYs, and users can earn as much as 20% when it finally goes live.
CEX.IO also offers staking services, with over $ 42 million staked on the platform.
Staking in cryptocurrency simply means committing crypto assets to support PoS-based blockchain networks. In return, users earn rewards for staking their assets.
On CEX.IO, users can earn yield by just staking their idle coins with no lock-up period required. The exchange allows customers to stake 14 crypto assets, including Solana (SOL) and Avalanche (AVAX).
Staking on CEX.IO is automatic, meaning users just need to have stake-able tokens in their wallet, and the exchange will handle all the technical steps involved.
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