Don’t want to make crypto gains by traditional ways of Buying/Staking? Here’s another way for you!
Bitget, in a striking move towards driving smarter crypto investment solutions, has launched its highly rewarding and innovative Hold-to-Earn service – Bitget HolderYield.
This Hold-to-Earn service is currently launched only for two interest-bearing tokens, weETH (Wrapped eTH, a liquid staking token) and USDE (stablecoin). Bitget aims to continuously add more tokens soon apart from the mentioned two.
How much will the Bitget users earn from HolderYield tokens?
In a rewarding way to distribute passive income to its users, Bitget offers baseline Annual Percentage Returns (APR) and other ways of earning by participating in promotions.
Just by holding weETH and USDE, regardless of the account in which the crypto holdings are stored, an APR of around 20% can be expected for users.
On partnership with Bitget by offering its token – weETH as collateral – Ether.fi founder and CEO, Mike Silagadze commented, “We’ve had a ton of customer demand for weETH as collateral and are excited to partner with Bitget to make that a reality! Bitget users who hold weETH will passively earn on their ETH while maintaining price exposure.”
Calling the move as more “user-friendly”, Bitget CEO Gracy Chen also expressed enthusiasm, commenting, “This has simplified the steps required for users to start earning yields on our platform, making it even more user-friendly as users no longer need to worry about liquidity and lock-up periods”.
What are the ways to invest in HolderYield tokens?
After having Bitget main account with complete identity verification, users can buy these interest-bearing tokens in three ways:
Spot Holdings – where users can purchase and hold tokens directly, enjoying baseline APR.
Future Holdings – in this, users can use these tokens as margins for futures trading in multi-asset mode, making the margin amount also eligible to make earnings.
Sub-account Holdings: for assets held in regular sub-accounts and virtual sub-accounts.
Daily Settled Earnings
Though you can sell your holdings at any time, to maximize earnings, during promotions, maintaining sufficient holdings are suggested. There are also minimum holding requirements as users must hold at least 1 USDT worth of weETH in their respective account. After investing, earnings are settled daily in respective tokens only. Distributions will be calculated based on the closing price of ETHFI at 8:00 AM (UTC+8) the following day. Users will receive the distributed earnings next day in their respective accounts at 06:00 AM (UTC+8).
Bitget’s initiative user-friendly but demands caution
Users have to be cautious about investing as APR at HolderYield token holdings is supposed to fluctuate, owing to market price volatility. Moreover, users also need to keep in mind the profit-generating mechanism of the respective tokens protocol, for example, for WEEETH, it is Blockchain staking yield. Change in its network conditions and staking returns can lead to adjusted yields.
Nonetheless, if the tokens experience a rise in price at the time of sale after their holding period, users are poised for good returns – making HodlerYield a good non-chaotic investment solution.
The post Bitget launches Hold-to-Earn Service with these two tokens; Know Key Details appeared first on CoinGape.
