Crypto holders usually choose between exchanges or cold wallets when looking for storage for their assets. Today we present an alternative that allows earning high interest just for parking money on CoinLoan.
Interest Account is a CoinLoan new product that offers best of the worlds of crypto and traditional banking. It works as a bank deposit and enables users to earn an 8% interest rate just for depositing USDC, USDT, and PAX. Shortly, we are planning to exceed the list of supported currencies.
How Does It Work?
In the left-sidebar on the CoinLoan platform, there is a new Interest Account tab, see Figure #1 below. Here, you can deposit and withdraw your funds in one click. Minimal deposit balance is 100 units in any currency available, maximal is unlimited.
Please note, that all the operations at the Interest Account are executed daily at 14:00 UTC. It means that your request for deposit or withdrawal will be in a pending status until processed in due time. You can have only one pending deposit/withdrawal request in the same currency. However, you can always cancel the pending request to create a new one.
All the pending and complete deposits are available in the Transactions section of the Interest Account tab, as shown in Figure #2.
Interests are accrued to your account daily at 14:00 UTC, while interest payments are processed monthly, on the first day of the next month, at the same hour.
How to Start?
Interest Account was designed to give you high-interest returns with the benefit of stablecoin flexibility and ease of use. That’s why our new product is one of the most intuitive and accessible in our portfolio.
To make your assets work, all you need is to have an account on the CoinLoan platform and deposit some stablecoins to your Main Wallet balance.
To make a deposit, go to the My Wallet tab, choose the desired currency, and press the Deposit button.
After, all you need to do is to open the Interest Account tab, choose the desired currency, and the needed amount.
Thanks for reading, we hope you enjoy CoinLoan’s new product!