HomeCryptocurrencyCoinSwitch Launches New Feature to Let Users Earn Passive Income Through Crypto...

CoinSwitch Launches New Feature to Let Users Earn Passive Income Through Crypto Holdings

CoinSwitch is expanding its service portfolio to attract more users to its platform. In an announcement shared this week – the exchange has launched a new feature called ‘Earn’. CoinSwitch will let users ‘lock in’ their crypto assets and earn rewards in the form of cryptocurrency.

With this offering, CoinSwitch is looking to increase the number of people engaging with crypto on its platform, given that the sector is still largely unregulated and volatile in India.

For the first phase of its rollout, CoinSwitch users will be able to use four cryptocurrencies – Solana, Cardano, Polygon, and Near – as crypto deposits. Each of these four crypto assets already has a fixed reward rate.

CoinSwitch Launches New Feature to Let Users Earn Passive Income Through Crypto Holdings

Users will be able to earn up to seven percent rewards when they deposit Solana coins. Similarly for Cardano, Polygon, and Near – the reward rates are three percent, 5.5 percent, and 8.5 percent respectively. It should be noted that these rewards earned may be subject to market fluctuations, depending on the number of people locking their cryptocurrencies on the platform.

Also Read: Cryptocurrency lost so many million dollars in the month of November

The platform further specified that if anyone using the Earn feature wishes to unlock their crypto deposits, they will be allowed to do so at any time.

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