Sirwin
Sirwin

Using the Lending Efficiently - Kucoin Earnings Keep Rolling

By PVM | Mind Puzzle | 21 Aug 2022


Kucoin is working hard to build a better Cryptoverse and I am working hard to create a steady flow of passive income on Kucoin! It's not always the airdrop hunt, or the search for gems... sometimes is using your portfolio to earn more by lending lazy crypto! Using the Lend Tool efficiently can create a perpetual flow of crypto earnings.

ceb8cd74462ea416d8347a7a3ffd95209c5cd9bdfe5c66e6bf925bbe01abc62e.jpg

The first half of 2022 was a mix of with scandals, bankruptcy, hacks and a high level of panic over the future of cryptocurrencies. However, Kucoin kept working behind the scenes to expand and evolve. The progress is outstanding, as the trading volume for the first half of the year exceeded 2 trillion USD. This is an outstanding growth for Kucoin, 180% more when compared with the same period of 2021. The highest daily volume peaked at 11 billion USD for daily trading and 23 billion USD for futures volume. 

0f54e3d7bd3569e13659d6da9a13df490734b93873494a4a9f92295f0cfe0146.jpg

The numbers of Kucoin new users between January and June 2022 reached 9.75 million. The 219% growth compared to 2021 means that Kucoin serves more then 18,000,000 million users across the globe. You see growth and I see Alpha signals, as more people will want crypto for trading or DeFi farming. This means that more users will be interesting in lending crypto and pay back interest to the lenders.

I was fortunate and the majority of my cryptocurrencies had the Lend option. HOTCROSS is the newest asset added in the system, with a minimum day rate set at 0.05% and the tokens available for 7, 14 or 28 days.

b0e15e4afd4992c8f8e74eac729f36729a694a9e196a53a38c0812a6586f169b.jpg

I started HOTCROSS lending with 120 tokens and they were borrowed only twice, for 28 and 7 days. I received 0.0102 HOTCROSS in return, and the plan is to let it grow by default until the next bull run.

86c466e951b813f36b02b55f7a7319d79fcdb2429ef942a01a0ce5a74e8cbc87.jpg

ICP Lending is new as well, not expecting high rewards considering the low amount I have. The minimum daily rate was set at 0.02% and my 2.4 ICP were borrowed three times. My reward for the 42 days of lending was 0.00034 ICP, a small fraction for a small amount supplied into the Lending Market.

4306874d02b44e82e3031695e879c8ee8558d208e5deac623371e4351337daaa.jpg

Lending CAKE brought higher rewards, as the daily rate was set at 2%. Three short terms of 7 days generated 0.127 CAKE, a much better result then ICP and HOTCROSS.

6fad2dbeb0ca9bf0ad34fa3e0506dfda7d26df693b473d89b402fa26cd05f271.jpg

Ethereum is the cryptocurrency that I am lending for the longest period of time, starting with 0.8 few months ago. The daily rate was set at 0.02% but this one is always gone. It takes less then a minute to go back on lend after the settlement of the previous lending period.

e5daa2d1fa4d6498e04d9327ebc2830149423816206e6dd626ecbdb0f95e49b9.jpg

The first lending period was on the 4th of May, when the 0.08 ETH was on lend for 7 days. The 0.00000036 ETH was only the beginning of perpetual gains and grows.

e1a51248ae101c7ca3a48bc26107e39dd36bb8167945082e43ec001008a0c311.jpg

The day rate went higher, and 0.025% brings more rewards. Since the Merge was announced, my Ethereum is always needed. The Order History is long as Santa's list and my ETH available for lend is now 0.09 and growing.

a750b1a987638a9e48d9785928b0b14ecbc8a24abe5867b76a7dfacd23685905.jpg

With only few months I reached 0.0955 ETH, marking a 0.0155 growth. Most of the time the loan is repaid before the term, which makes my ETH available quicker and increase the earnings at an accelerate pace. The last loan was paid in less then a day, taken at 15:58 and repaid in full at 8:22 the next morning.

635379fe1d343efd8872a998382e9a211039cfb8ad0e2b55d5a239f9583d20f4.jpg

The only other bonus that gives rewards as fast as Ethereum are the candies. I still claim them while hoping that merchandise will be added as rewards. I'm a good boy and check-in for 7 consecutive days to earn the candy bonus. Will 22,500 candies be enough for a hoodie or a t-shirt?

dbc012161f72665d3ee8b678b427ecec3752234a12929b6b4a56d1b4af310624.jpg

Residual Income:

Join Biswap

Join Binance

Join Upland 

Join Crypto.com

Join Splinterlands!

Hive Blogging - LeoFinance, Peakd, etc

PVMihalache Amazon Books

CakeDeFi $30 DFI for new users

The fountains: Pipe ZCash,  Global ZCash & Get.ZEN

Publishing bundle: Publish0x,   readcash,  noisecash

4029272aab259f9df7f0d091512e70c36bc451edd86dfb4caaf3a805c7e346dd.jpg

How do you rate this article?

139


PVM
PVM Verified Member

UMA Ambassador 🐔 Across Committee Member 🌉 Horizen Ambassador


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.