Cryptocurrencies are quickly entering the mainstream consciousness as global adoption continues to grow at an unprecedented rate. With billions of dollars in total value locked, the decentralized finance (DeFi) ecosystem has established itself as a disrupting force that can catalyze a paradigm shift from dated financial services offerings.
The emergence of DeFi paved the path for a new era of decentralized financial solutions, offering everyone several opportunities to generate yield on digital assets they already own. As retail and institutional investors continue to flood the DeFi ecosystem, the demand for passive yield-generation opportunities, like those offered in traditional finance (TradFi), has increased substantially.
While there are dozens of centralized (CEX) and decentralized exchanges (DEX) that support these activities, the vast majority of the global population hasn't been able to benefit from them. One of the primary reasons preventing the general public from embracing the DeFi space is increasing regulatory concerns.
Due to the surprising speed cryptocurrencies garnered mainstream attention, governments and financial regulators worldwide were caught woefully unprepared. Accordingly, several countries implemented regulations to manage the growing market, contrasting sharply with others still determining the best way forward. Meanwhile, countries like El Salvador and Japan have already embraced bitcoin (BTC) as legal tender.
Still, some of the most prominent exchanges, both CEXs and DEXs, frequently find themselves in the crosshairs of regulators and governments. For instance, one of the largest global crypto exchanges, Binance, has had to scale back local offerings in the UK, echoing the limited services Binance US offers compared to the international platform.
Singapore, too, ordered Binance to stop offering certain products in the country. At the same time, DEXs are also finding themselves answerable to the US SEC, FinCEN, and several other global organizations. These problems have led the users to question the safety of their assets.
What if you lock your cryptocurrencies in a savings account, stake them, or add them to some liquidity pool, only to discover that the platform has been banned from operating in your country of residence?
Who will guarantee the security of your assets?
Is there a way to generate returns on assets that you already own without having to worry about the shifting regulatory environment?
Fortunately, yes. There’s a way.
CoinZoom, one of the world’s most highly regulated cryptocurrency exchanges, has launched the CoinZoom Earn feature, empowering users to earn interest on over 40 different cryptocurrencies and USD stablecoin deposits.
The platform is licensed in the US as a Money Service Business with FinCEN and has a US Money Transmitter License. It is also registered with the Australian Digital Currency Exchange and has a registered office in Dublin as part of its European subsidiary. All told, CoinZoom is licensed to operate across 192 countries and counting, so you can rest assured about its regulatory compliance.
That said, let’s take a closer look at what CoinZoom Earn is all about.
Put Your Idle Assets To Work With CoinZoom Earn
CoinZoom Earn is a crypto and fiat savings account that offers users up to 10% APY on their cryptocurrency and USD deposits. Currently, Earn supports over 40 different coins like BTC, ENJ, DASH, ETH, BCH, and more. It also supports stablecoins like USDC and USDT, as well as USD.
This feature is limited to registered CoinZoom users only and is available in all the countries where the platform legally operates. While basic users can earn up to 10% APY, CoinZoom VIP users can receive an additional bonus interest as high as 20%.
Enrolling in the CoinZoom Earn feature is straightforward and existing users can simply opt-in from the mobile application or web app to start earning interest immediately. Furthermore, signing up for Earn doesn’t demand any long-term commitments, and interest accrues daily before being transferred to the user’s wallet on the 7th day of every month.
Once the interest is processed, users can reinvest their gains in a CoinZoom trading account, spend it with their CoinZoom Visa card, or redeem it to their fiat wallet. There are no redemption fees, and the requested amount is transferred to the user’s wallet instantly. To top it all, CoinZoom has partnered with Genesis, one of the most prominent securities broker-dealer regulated by the FINRA and SEC, to insure customer funds in case of any foreseen circumstances.
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2021-11-29 13:43:54
