CoinDepo offers high-yield annual returns on Avalanche (AVAX) and other cryptocurrencies and stablecoins. All you need to do is deposit funds and passively earn up to 18% APY + compound interest on your AVAX coins.
Avalanche (AVAX) is a cryptocurrency & blockchain network, incepted in 2020 by Ava Labs as a solution to address fundamental challenges in the earlier blockchain platforms. Since its launch, it has become an important asset in the global cryptocurrency landscape due to various benefits highlighting it among other digital assets. The cryptocurrency aims to provide a highly scalable, cost-effective, and versatile tool for traders and businessmen.
AVAX is frequently characterized as a cutting-edge blockchain, as it uses an innovative Avalanche mechanism, which helps it operate on decentralized finance platforms and various applications within the blockchain space. AVAX is accepted on numerous international crypto exchanges that open many ways to earn money: trading, staking, lending, arbitrage, or crypto savings accounts. While the first four require some involvement, the crypto savings accounts provide a passive option to grow your funds.
CoinDepo offers a groundbreaking solution to generate profits on your upholds. These are Compound Interest Accounts that generate interest income on your AVAX coins with a maximum APR of 18% + compound interest. You can choose one of six compounding periods, with the annual as the most profitable one. Before exploring these accounts, let’s take a look at AVAX itself.
What Is AVAX Feature-wise?
The consensus mechanism is a fundamental agreement for many systems, reached by all participants in a network (its nodes) to connect participants like glue, lighten the load, and organize the work. Most networks use the principle of Proof of Stake, where a user adds collateral to the blockchain to use its tokens, or Proof of Work, which relies on “miners” solving math puzzles with their hardware.
The unique consensus is what distinguishes Avalanche from other blockchain networks. Instead of using Proof of Stake/Work, it enables all computers within a blockchain network to check each other’s opinions and select the transaction order within a short period.
This is allowing the blockchain to reduce transaction maintenance time and commissions and increase the number of operations available, while still maintaining a high level of stability and accountability. It can help the users of applications that need quick processing, like those in the DeFi space or NFT.
Additionally, Avalanche is very adjustable, allowing crypto coders to develop their blockchain systems, known as ‘subnets’, and tokens that can easily operate on its platform, fostering greater compatibility via the so-called Avalanche Bridge Protocol.
Avalanche runs its own volatile token called AVAX. According to the October 2023 statistics, its value is about $10, which makes it a cost-effective asset for peer-to-peer payments. As its blockchain continues to expand its portfolio, AVAX attracts a lot of investors, validators, and traders who want to earn more and increase the potential of the blockchain.
How to Earn on AVAX?
The blockchain supports a staking function, where a user closes a certain number of coins in a collateral vault to participate in the management of the platform, and then gets more of these coins as a return. The received AVAX Coins are withdrawn to the blockchain’s cryptocurrency wallet. The earnings can be used for other types of crypto operations, including trading, arbitrage, or lending.
AVAX is popular on crypto exchanges as a trading pair due to its comfortable price. The practice of buying coins in one place and selling them for more in another. However, both options are risky due to unpredictable market fluctuations. Users also tend to lend some of their assets to others on peer-to-peer cryptocurrency lending platforms with collateral and interest rates.
These ways of making money can work if you are willing to spend considerable effort tracking market statistics, news, emerging offers on exchanges, prices, etc. There is another way that, as a minimum, will not make you waste energy that could have gone to profitable projects. It’s the Compound Interest Accounts for AVAX from CoinDepo.
Unveiling the Potential of Compound Interest Accounts
CoinDepo offers a wide portfolio of digital asset financial products that includes crypto credit cards with up to 8% crypto cashback, instant loans without collateral account, and innovative Compound Interest Accounts that earn you interest income. How do the latter work? CoinDepo offers you to deposit your AVAX coins for a selected compounding period to get the whole amount back with interest. Compound interest rates depend on the plan selected. There are six of them in total:
· 12% APR + compound interest daily;
· 12.5% APR + compound interest weekly;
· 14% APR + compound interest monthly;
· 15% APR + compound interest quarterly;
· 16% APR + compound interest every six months;
· 18% APR + compound interest annually.
Stablecoins and volatile cryptocurrencies such as AVAX have different types of Compound Interest Accounts. The above interest rates are for the currencies with floating exchange courses, such as AVAX. For stablecoins, the interest rates are higher, starting at 18% APR + compound interest and ending at 24% APR + compound interest.
Given these numbers, Compound Interest Accounts can become an important addition to your earnings strategy. The longer the term of the compounding plan, the higher the interest rate. So, it’s wise to consider this product as an investment that will pay off over time.
All operations with these accounts are aligned with all security practices of today’s cryptocurrency community, including encryption keys, Email Verification Code, 2FA, etc. Your funds won’t be touched by third parties and your data won’t be compromised.
So, how to get a CoinDepo account and start earning extra funds on your AVAX upholdings? Check the simple tutorial below.
Creating a CoinDepo Account
To start earning on your savings, you must first register on the CoinDepo website. You will only be asked for your email and password, which is quite convenient. In the future, to remove limits on deposits and withdrawals of funds, if you need it, the service will ask you to provide an identification document.
Upon completion, you need to deposit AVAX into your CoinDepo crypto wallet. The service does not charge a commission for any transactions with your assets. After the deposit, you need to choose one of the compounding plans: daily, weekly, monthly, three-month, six-month, or annual.
After that, all that remains is to follow the growth of your cryptocurrency funds with the help of the CoinDepo monitoring system. It will help you understand whether you should deposit more or withdraw funds. You can do this at any time. If you need answers to any questions related to CoinDepo products, you can contact the support team or view the FAQ on the website.
Compound Interest Account Benefits
Here are some valuable advantages of Compound Interest Accounts from CoinDepo:
· Opportunities for passive regular income;
· No knowledge of cryptocurrency exchanges required;
· Safety, simplicity, and transparency;
· Guaranteed income;
· There are no risks of trading and volatility;
· Business diversification opportunities.
