One of the first things that anyone who is new to the cryptocurrency scene is looking for, is a way to earn interest on their cryptocurrency holdings. Everyone is used to the traditional financial system, where banks pay you interest on money that you deposit.
The problem with savings in the bank, is that the interest they pay is relatively low and at the same time fiat currencies are subjected to annual inflation which devalues your savings year after year.
Earning interest with your Cryptocurrency
With the explosion of bitcoin and cryptocurrencies over the last few years, and the rise of DeFi (Decentralized Finance) platforms, people and companies can now take loans as well as earn interest on their crypto holdings.
OVEX is a leading cryptocurrency prime broker based in South Africa that leverages DeFi and cryptocurrency to offer high-ROI interest accounts, where its members can earn as much as 20% annualised interest on their deposits for low risk.
The ‘holy grail’ of crypto, is the ability earn a passive income paid in cryptocurrency, and earning interest on your crypto is just that.
How much interest can you earn with OVEX?
The annualised interest rates you can get with OVEX range from 4.0% for bitcoin (BTC), to 10.0% for Tether (USDT) on smaller deposits, while customers with over R500k in value can get a quote on a premium rate of up to 20% interest.
The interest is paid out daily at 17:00 in the cryptocurrency that has been deposited into your Interest Account with OVEX.
Customers with over R500k to deposit can get a quote on a premium rate of up to 20%
Who is OVEX and how do they achieve this
OVEX is a cryptocurrency exchange based in Cape Town South Africa valued at more than R2bn, specializing in OTC trading, arbitrage trading and cryptocurrency high-interest savings accounts.
Please read our previous article about OVEX on how to safely make easy money with arbitrage trading
Our aim is to remain a leader in this space and offer clients returns that are superior to those available in traditional finance and to remove as many of the risks as possible.
Using a combination of arbitrage trading and staking, OVEX is able to generate high yield, which it uses to pay the interest to customers on their cryptocurrency deposits.
OVEX uses Staking to lock funds in a smart contract in order provide liquidity on DeFi platforms. Yield is also earned through staking rewards paid to OVEX from the lock up funds in a smart contract in order to secure the Proof of Stake network.