Huobi Earn works like a savings account, allowing investors to park their idle cryptocurrencies in a wallet to earn interest, which is similar to having a savings account in a traditional banking system. Not only is this an accessible service for those unfamiliar with trading, it is also a useful tool for traders who need to park their money profitably while waiting for the next trading opportunity.
Earning interest with Huobi Earn is also much more accessible than depositing money into a traditional bank. There are no fees, queues or forms, and you can do it all online and through the Huobi mobile app.
There are four main types of deposit products available for investors who are signed up with Huobi Global:
- Featured deposits
- Flexible deposits
- Fixed deposits
- New User deposits
Each of these deposit products allows investors to earn yield while leaving their tokens in the deposit. The main differences between them are the lock-in period and token yield.
Featured deposit
The Featured deposit is a special promotion deposit that Huobi Global usually runs for a short period of time.
During the promotion period, investors can earn up to 50% APY on the cryptocurrencies they have deposited, but this deposit comes with a lock-in period of seven to 60 days, depending on the campaign.
These special campaigns have a limited amount of tokens that can be accepted and they will only run for a certain period. Do sign up for the Huobi Global Telegram to get updated whenever a new campaign starts.
Flexible deposit
As the name suggests, this product allows you the flexibility to withdraw and deposit your cryptocurrencies at any given time.
This works best for investors who are looking to buy certain tokens, but whose target prices for the tokens may not be met in the near future.
Interest is compounded daily and by activating the auto-transfer function, investors can let this wallet run on its own without worrying about compounding it.
This deposit provides the most liquidity, as investors can immediately withdraw their funds to purchase or sell tokens, allowing them to capture good buys or take profits when there is a spike in prices.
Fixed deposit
The main difference between the Flexible and Fixed deposit is the lock-in period and yield. While the Flexible deposit allows investors to withdraw funds at any time, the Fixed deposit has a stipulated lock-in period.
However, in return for the lack of flexible withdrawals, the Fixed Deposit gives higher yields on tokens.
Lock-in periods can vary, usually from seven to 30 days, depending on the token. This deposit works best for investors who are HODLing tokens and not selling them anytime soon.
First-Timer deposit
The First-Timer deposit is the latest introduction to Huobi Earn. This deposit provides an easy stepping stone for new users to earn higher rewards for depositing their crypto into Huobi Earn. These special offers are for new users only.
There are two main deposit products for new users on Huobi: Flexible and Fixed. Like the deposits mentioned above, the Flexible Deposit allows immediate withdrawals while the Fixed deposit requires a lock-in period but provides a higher yield.
Millions of investors around the world have turned to cryptocurrency trading because it can provide better gains than traditional investments. But for new investors, trading carries considerable uncertainty and risk because they need to monitor the market in order to know when to buy and when to sell.
Savvy, profitable trading requires attention to market movements, but also an investment of time and effort to learn trading skills such as technical analysis, fundamental analysis, and how to use indicators and trading interfaces.
However, earning an income from the crypto space does not need to be that hard. Huobi Global introduced Huobi Earn on 26 Jan 2021, which lowers the barrier of entry for new investors to get better returns in the crypto space.
Huobi’s vision for the Future of Finance is for financial services to be available to everyone, and their global exchange has enhanced access to trade and investment for millions around the world. Huobi also aims to provide financial services that can supplement the traditional banking system, and that must of course include passive interest-bearing deposit services like Huobi Earn.
For both new and seasoned investors, leveraging Huobi Earn allows you to earn passive income while waiting for your cryptocurrencies to reach their target sell or buy prices. As the interest compounds and grows, it provides more purchasing power if you are looking to buy a token, and increases the number of tokens you have waiting to be sold.
Get onboard with Huobi Earn by signing up for an account with Huobi Global. Access Huobi Earn and start earning passive income with your idle cryptocurrencies. Sign up now!
