One crypto exchange is finding a way to attract investors as Indian banks and cryptocurrency exchanges continue to be in a love-hate relationship.
ZebPay launched a product that allows investors deposit cryptocurrency like bank fixed deposits to earn an interest. Now, they will pay interest on cryptos investors keep in their wallets.
ZebPay introduced ZebPay Earn this week. This new feature allows customers to earn rewards on cryptocurrencies that are available in their trading and spot wallets. ZebPay claims it is the first Indian exchange to offer this feature.
ZebPay Earn will provide support for earnings on Bitcoin (BTC), Ether(ETH), Tether [USDT], Polygon (MATIC), Binance Coin/BNB) and Dai (DAI). The balance in an investor’s trading or spot wallet can earn you returns.
The daily eligible balance at 5.30 am each day will determine the return. According to the company, the earnings cycle will last for a month. The monthly earnings will be credited on the 7th of each month.
Minimum earnings will be 1 Satoshi for each coin. One Satoshi, which is equivalent to 100,000,000ths of Bitcoin’s token value, is the smallest unit in Bitcoin. It currently stands at Rs 0.0224.
“At ZebPay we are always thinking of ways to encourage our customers to invest in crypto over the long-term to get the best returns. ZebPay customers can now trade while they earn return on their balance. Avinash Shekhar (CEO ZebPay) stated that customers should continue to earn in multiple ways as long as their coins are in their wallets.
After logging in, all users will be able see the list and earnings of coins on which they can earn returns. The company stated that all ZebPay customers who have completed their KYC will be eligible for returns on trading wallet balances by default via ZebPay Earn.