There are various ways where you can earn in cryptocurrency using Cofinex earn let’s run through them one by one:

• Liquidity mining with DeFi tokens
• Savings
• Staking
• Staking with Ethereum 2.0
• C2C loans

How to start?

Step 1: Go to Earn Section

Advance to Cofinex homepage and steer to Finance at the top menu to access the Cofinex Earn section.

Step 2: Choosing or specifying the digital asset holdings

The next step in the Cofinex Earn page would be for you to select the Earn tab and select the cryptocurrency you own from the mentioned list of the cryptocurrencies. For each token, the estimated APY and the available term is visible (fixed or flexible).

Then, select the desired product to earn the passive income from the “All Products” dropdown.

Liquidity mining with DeFi tokens

With Defi and its liquidity coming into the picture brings ampful opportunities for the traders and also for the people interested in the market who are in it for an extra source of income.

Earn crypto with Compound

One of the dominant decentralized lending protocols is Compound , which has obtained extensive popularity in the DeFi community after the release of its governance token, COMP. COMP is an ERC-20 asset that empowers community governance of the Compound protocol; COMP token-holders and their delegates debate, propose and vote on changes to the protocol. By placing COMP straight in the hands of the end users and applications, an ever-growing ecosystem will be able to upgrade the protocol, and will encourage to collectively steward the protocol into the future with good governance.

There are a number of tokens that you can deposit to earn some crypto income that will support the compound ecosystem. The tokens are DAI, USDC, Tether(USDT) and 0x(ZRX).

Let us skimm through how to subscribe to earn USDT with Compound

Step 1: Subscribe to earn USDT with Compound

Select USDT as the cryptocurrency in the “Earn” tab to put forward the deposit period, net rate and estimated daily return for earning USDT with Compound. The net rate is calculated using the subscription interest and staking return. Tap on Subscribe to proceed.

Step 2: Supply USDT to Compound protocol

Go in for the amount of USDT you would like to supply to the Compound protocol. 50 is the minimum subscription amount. Click Max if you would like to subscribe to Compound with all the available balance. Then click Continue.

Verify the transaction details, including the estimated return and estimated bonus rate. You need to acknowledge the fact that the estimated yield does not mean that is the actual yield and that you have free access to the assets at any given instance. Click Subscribe to move ahead.

Step 3: Review the transaction

Unter “My Assets” at the bottom of the Cofinex Earn section you can review the transaction.

By clicking on the document icon under “Action” you can withdraw USDT anytime and then click Redeem to proceed.

Earning Crypto with SushiSwap

SushiSwapis a protocol for creating liquidity and trading ERC-20 tokens on Ethereum. It eliminates trusted intermediaries and unnecessary forms of rent extraction. Allowing for fast, efficient trading. Where it makes trade offs – decentralization, censorship resistance and security are prioritized. SushiSwap is open-source software licensed under GPL.

Cofinex Earn has a product to help the users to deposit funds for SushiSwap’s smart contract, splitting the fee between all the traders.

To start earning SUSHI token the users can take any of the digital asset trading pairs listed below:

• USDT-ETH
• WBTC-ETH

Let us subscribe via USDT-ETH to earn SUSHI tokens. This implies that we need to provide both ETH and USDT to the SushiSwap protocol in order to earn SUSHI. But, no interest will be earned on the actual supplied digital currencies.

Step 1: Subscribing to earn UNI with Sushiswap

Select USDT as the crypto in the “Earn” tab to bring up the deposit period, APY rate and estimated daily return for earning SUSHI with SushiSwap. Click Subscribe to move ahead.

Step 2: Go through the terms for SUSHI subscription

Users who subscribe to SushiSwap need to understand and acknowledge the risks present, and after clicking I understand it you will be able to earn SUSHI with SushiSwap on Cofinex, as shown below.

Step 3: Provide USDT and ETH to the SushiSwap protocol

To supply USDT and ETH to the SushiSwap protocol enter the amount of USDT and ETH. To subscribe with all the available balances, click on Max. Remember to go through a warning message at the top of the Q&A at the bottom for answers to any questions one may have. Click Continue to move ahead.

Step 4: Verify transaction details

Verify the transaction details, including the estimated return and service fee. One needs to acknowledge the fact that the estimated yield does not represent the actual yield and that you have free access to the assets at any time. Click Subscribe to proceed.

Step 5: Review your transaction

Under “My Assets” review the completed transaction at the bottom of the Cofinex Earn section.

Again you can withdraw the USDT and ETH anytime by clicking on the document icon under the “Action” and clicking Cancel to proceed.

Savings

Savings is a product that enables the Cofinex users to earn interest by depositing their digital assets on the platform. Then the assets are lent as margin loans to the users, Cofinex collects and distributes the interest to the users. There is no minimum amount or time period for the deposit , the interest starts accumulating from the second day of the deposit.

How to subscribe to savings.

Step 1: Subscribe to savings

Here in the below example we will deposit 1 USDT in the savings account. To begin, go to the Cofinex Earn section and click on the Earn tab as mentioned earlier.After that you will be able to see many options available and one of them will be “Savings”.

The details will be visible as shown in the below shown example. In the example, we have further chosen the option “Subscribe” to proceed further.

Step 2: Enter and verify the transaction details

You need to verify the subscription amount and deposit period. Click continue after you have entered everything.

You will see a Savings User agreement read it and, if you agree to it, click continue to proceed.

Review the transaction and click on Subscribe.

Step 3: Review transaction

Review the transaction which is there under the “My Earnings” of the Cofinex Earn section. Choose “Detail” to review the further details.

Staking

Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.

How to earn through staking in Cofinex Earn.

Step 1: Subscribe to staking

Here in this example v.systems is used. Select VSYS as the cryptocurrency in the “Earn” section and navigate to “Staking” to view the available options for VSYS. Click on Subscribe to proceed.

Step 2: Enter the details and verify the details for staking

To stake initially enter the amount you desire to stake. For VSYS, the minimum subscription is 10 VSYS. To subscribe with all the remaining balances click Max. The user can also go to “Show Wallets” to view the available VSYS balance. Click Continue to go ahead.

Verify and confirm the transaction details like amount used for staking and acknowledge the Staking User Agreement and that the yield does not represent the actual yield. Click Subscribe to proceed.

Step 3: Verify the transaction

To verify the finished transaction under “My Earning” at the bottom of the Cofinex Earn section.

To withdraw your staked cryptocurrencies anytime by clicking on the detail and then clicking Redeem. Note that it takes up to one day to process the transfer of staked crypto or earned interest.

Fixed-term staking

We can also earn attractive returns at an acknowledged rate of interest by depositing the cryptocurrencies using fixed-term staking.Withdrawing of the deposited cryptocurrencies during the selected time of the fixed-term staking by the user is not possible without paying the compensation.

In the following instance, we have considered a fixed-term stake of 10 EOS for 30 days

Step 1: Subscribe to fixed-term staking

To subscribe, under the “All Products” dropdown menu, select staking and enter EOS in the search bar positioned on the right. Then choose periods for the EOS fixed-term staking with the respective rates of returns by clicking on Select. After selecting the term click, Subscribe to proceed.

Step 2: Enter and confirm details of the fixed-term stake

The minimum amount for subscription is 1 EOS, the user can select accordingly.

The maximum amount required for a subscription is the available balance in your account and you can do that by clicking on Max. To view the available balance click on Show wallets. To proceed click Continue.

Validate the details of the transaction which includes the deposit period and make sure that the estimated yield does not match the actual yield, and proceed further by clicking on Subscribe.

Step 3: Review your transaction

The completed transaction can be reviewed in the Cofinex Earn section under the option “My Earnings”.

By choosing the option “Detail” and “Withdraw“, the user can withdraw the staked cryptocurrencies anytime. However, compensation will be charged for withdrawing the amount prematurely.

Stacking on Stacks to earn BTC

Originally known as Blockstack is the name of the Layer-1 blockchain network that enables the development of smart contracts and decentralized applications on Bitcoin.

There is an option to stack STK and earn BTC rewards that OKEs allows its users to promote participation in the Stacks ecosystem. Stacking is the process of securing the network by staking STX, which is available to the end-users through the Cofinex Earn platform for the Cofinex users.

Tokenlon staking

The token-to-token build on the 0x protocol is called Tokenlon. The primary token of Tokenlon is LON and is used to reward the users for their participation in the ecosystem.

By depositing LON the users can earn staking rewards through Cofinex Earn.

Step 1: Subscribe to Tokenlon staking

To subscribe, under the “All Products” dropdown menu, select Staking.

To view the estimated APY for staking Tokenlon click Select. To proceed click Subscribe.

Step 2 : Enter the subscription amount

Enter the desired amount of LON you want to stake. The minimum amount for a subscription is 10 LON and the maximum amount for the subscription the user can avail will be the entire available balance in your accounts by selecting the option “Max“. To check the available LON balance in the account, the user can check in the option “Click Wallets” and click “Continue” to proceed further. In case of any further queries, one can go to Q&A section.

Review all the transaction details such as fund source and read the details related to the interest accumulation and the fund redemption click on Subscribe to proceed.

Step 3: Review your transaction

Under the option “My Earnings” of the Cofinex Earn section reevaluate your completed transaction and to check your order status click on “Detail“.

Ethereum 2.0 Staking

Ethereum 2.0 will replace Ethereum’s current protocol’s proof-of-work

consensus mechanism to proof-of-stake. The transition of Ethereum’s consensus mechanism is done with the aid of the Beacon chain.

To be a part of the Ethereum 2.0 ecosystem, users can stake their ETH on Cofinex to acquire Beacon ETH In rewards. In the following instance, we stake 0.1 ETH to earn BETH staking rewards.

Step 1: Subscribe to ETH 2.0 staking

Initially, go to the dropdown menu “All Products” to choose the ETH 2.0 staking. To check the estimated APY of ETH 2.0 staking choose the option “Select” and subscribe to proceed further.

Step 2: Read the terms and conditions of ETH 2.0 subscription

All the users are required to understand and acknowledge the risks involved hence, the users need to read the terms and conditions and click on “I Understand” before making any transactions to earn BETH on OKex as shown below.

Step 3: Enter the subscription amount

Enter the desired amount of ETH you want to stake. The minimum amount for a subscription is 0.1 ETH and the maximum amount for the subscription the user can avail will be the entire available balance in your accounts by selecting the option “Max“. To check the available ETH balance in the account, the user can check in the option “Click Wallets” and click “Continue” to proceed further. In case of any further queries, one can go to Q&A section.

Review all the transaction details such as fund source and read the details related to the interest accumulation and the fund redemption click on Subscribe to proceed.

Step 4 : Review your transaction

Under the option, “Assets” at the right-hand corner go to “My Assets” and then click on “Funding Account” and “Recent Transactions” to reevaluate your completed transaction and to check your order status click on “Detail“.

C2C Loan

C2C loan is an open marketplace where borrowers and investors can either take or give loans with ideal interest rates, loan period, alongside a sufficient degree of transparency and safety.

Let’s see how to subscribe to C2C loan

Step 1: Subscription for C2C loan

Select USDT as the cryptocurrency in the “All Products” section and navigate to “Select” and view estimated APY and the term of the USDC C2C loan.. Then click Subscribe to proceed.

Step 2: Select a loan offer to invest

To view all the available loan plans with rates and return, loan periods, minimum and maximum investments, etc. In the following example let us select the loan plan for 50 USDT, with a return rate of 8.03% APY for a period of 90 days. Click on Invest to proceed.

Step 3: Enter the subscription amount

The minimum amount for subscription is 50 USDT and the maximum amount is 500 USDT. Under the “Subscription Amount” tab, you can enter the amount for subscription in multiples of 50.

Step 4: Read and understand risk-control

Before moving ahead with the C2C loan plan, it is recommended to read the details and understand the details under the Risk Control tab. There are some important bits of information in the section, namely pledged, loan-to-value and late interest rate.

Pledged assets are the collateral held by the lender in return for lending funds. Collateral values is the amount of assets accumulated to secure the loan. When value falls below the alert level, the borrower will receive a reminder to increase the amount. And if it reaches below the liquidation level, and the borrower fails the collateral amount, the loan position will be closed to repay the principal, interest, and overdue penalty interest to the investor.

Loan-to-value means it is the ratio to the value of an asset purchased with a high LTV ratio i.e. the loan is riskier to take. The beginning level refers to the percentage of the loan amount that must be covered by your own money. The margin call level here refers to the minimum amount of USDT that must be maintained in your account. The loan position will be closed if the LTV reaches the liquidation level.

Late interest rate refers to the penalty rate for late interest payments.

Later after acknowledging the risks involved in C2C loans, click Continue to proceed.

Step 5: Review the loan balance

Navigate to My Earnings of Cofinex Earn sectionto review the loan balance.

The loan amount is shown in the “Investment” column.

Recommended

What is CNX? Why do we need CNX?

Technical analysis in cryptocurrency market

What is stop order and how does it work?