The crypto investors were extremely unsettled over the weekend after the TerraUSD Stablecoin briefly fell short of its dollar peg causing a 53% price fall in Terra’s native token, LUNA.
The recent downfall in the price of Bitcoin can be accredited to the stringent central bank monetary policy, and inflation but the biggest reason to be factored in for the downfall is the TerraUSD Stablecoin losing its dollar beg.
During this period of high volatility, major cryptos showed a decline in their prices pointing toward a downward trend in the crypto market. With the recent downfall in the Bitcoin price, the crypto fear and greed index shows great fear in the current market. Bitcoin price fell more than 50% since its peak price of $68,990.90 in November 2021. Since the beginning of 2022, Bitcoin has changed -by 32.50% as per CoinDesk.
Although the price of Bitcoin fell due to UST losing its US peg there is still a silver lining. Joseph Kelly, CEO of bitcoin financial services firm Unchained Capital, on being asked about his comments on the UST de-peg being a scary headline in an interview said, “It’s one of those things that you get to hold in contrast to bitcoin as a more sound, more explainable asset that isn’t overpromising and trying to do things like maintain a dollar peg. It’s one way that Bitcoin continues to shine in the long run.”
But since the market still points toward a downfall with increased volatility in the crypto market the investors are deemed to be scared and prefer exiting the market. The majority of the investors are continuing to hodl their initial investments as they are suffering huge capital losses. With investors exiting and not entering the current bearish market, the opportunities to earn or make money through the crypto market seem thin or almost as good as none.
But what if we told you that there are ways to earn passive income through the CoinDCX platform even in a bearish market. Let me walk you through the ways you can make money in the current market.
Ways to create a stream of passive income on CoinDCX
Through the power of compounding, investors can gain returns and these yields can help investors generate more returns, as a consequence, it helps the investor earn more returns in a short period of time. But instead of investing a lump sum amount to earn compounded interest investors can instead break this amount into weekly or monthly installments which will provide increased liquidity in the investor’s hand and investing in such a way can help in accumulating returns in an expeditious manner.
Given the volatile nature of the crypto market, it is the perfect place for compounding to work for crypto assets. Investors can set up their wallets to earn passive income on the basis of their base capital investment which will act as the ground for generating continued regular investing. But to make this a hassle-free activity investors can set up automated crypto investing module and CoinDCX has its very own Crypto Investment Plan or CIP by CoinDCX and through this plan, investors can continuously earn passive income.
The CIP in Cryptocurrency with CoinDCX helps investors with the following:
A. Compounding: CIP installments that are made at regular intervals help in creating wealth over a long-term period as the earnings on the initial capital invested are re-invested with the power of compounding.
B. Discipline: A weekly CIP installment is made at regular intervals.
C. Flexibility: Investors are free to choose any amount they wish to invest in the CIP starting from Rs. 2000 up to Rs. 20,000.
D. Rupee-Cost Averaging: The CIP module helps in lowering the market volatility risk in the long run. When markets are high, investors buy less quantity of crypto-assets through CIP, and when markets are down investors buy more quantity of crypto assets from the same amount invested in CIP.
E. Convenience: As the CIP is an automated crypto investment plan it makes it a frictionless experience for investors as the installment is automatically debited and invested in the investor’s chosen scheme.
F. No Lock-in Period: There is no fixed lock-in period and investors are free to cancel the CIP scheme at any time as per their convenience.
Staking helps users earn passive income by putting their crypto to work without selling them. Staking is a process in which a wallet uses to validate transactions on a Blockchain and the node is rewarded on the addition of a new block of transactions.
CoinDCX offers staking to its investors, all registered users who hodl a minimum amount of the crypto on which staking is offered are eligible to stake. The cryptos staked are free to be traded and are not locked in on the platform providing liquidity and they can be withdrawn at any time. No transaction fee is charged by CoinDCX to users for staking.
CoinDCX does not have its own proof-of-stake Blockchain nodes and it provides staking rewards through a hybrid approach of accumulating staking rewards with exchanges it has partnered with like Binance and natively Staking them with blockchains.
To stake on CoinDCX investors need to buy and hodl a minimum amount of crypto as per the platform’s requirement and deposit them in their CoinDCX Pro wallets that they want to stake and hodl. The returns on staking are sent to investors on a monthly basis and are calculated by taking snapshots of the deposit every 24 hours.
Investors holding cryptocurrencies on the CoinDCX exchange can LEND them to the exchange and earn an annual interest of up to 18.01%, the minimum lending period is 7 days and beyond that, the investors can cancel and receive their cryptocurrency back with the interest accrued on them.
The investor’s funds received by the CoinDCX exchange are completely secure as the platform relies on MultiSig Cold wallets making it impossible for anyone to access the crypto assets held by CoinDCX.
Don’t wait for the bear market to end, go ahead and invest your funds with CoinDCX and create your stream of passive income while hodling your crypto assets. Don’t let your idle funds sit in your wallet when you have a good opportunity to earn returns through CoinDCX CIP, Staking, and Lending.