Hoo has always been thinking of an interesting way to generate revenue for its users and has recently created a short-term opportunity with great profits. The exchange has increased the USDT and USDC stable coin deposit rates to 15% and 12% APR for 30 days and 15 days in the Hoo Earn section, respectively, so do not miss the opportunity.
This feature will expire on June 15, 2022. Join now: https://hoo.com/invest/home
Introduction to StableCoin USDT / USDC
StableCoin is a type of cryptocurrency designed to reduce price fluctuations. It is also used as a storage of value and a means of exchange. StableCoin is dependent on a "stable asset" that can be anything; From gold to physical currency or any kind of asset that can be priced and agreed upon.
If traders are looking for investing or trading cryptocurrencies, they have probably heard of Tether. Tether, abbreviated USDT, is a cryptocurrency whose price is always stable. The value of each Tether unit is always equal to 1 US dollar.
USD coin was launched in September 2018 by the CENTER consortium in collaboration with Circle and Coinbase. The USDC has one of the fastest growing stocks and has a 1: 1 ratio with the US dollar.
How To Make Money From Our Stable Coins?
traders can get 15% annual profit from your unused stable coins in addition to holding and maintaining. But which platform has 15%?
Take a look at the return on investment of StableCoins in different platforms:
• Celsius platform: 8.5% to 11% profitability on USD stable coins
• BlockFi platform: 8.85% profitability on USD stable coins
• Nexo platform: 8% to 10% profitability on stable USD coins
• Crypto.com platform: Nearly 10% profitability on USD stable coins
According to the list above, traders will realize that a 15% profit is excellent in this field. So now let's take a look at Hoo Exchange and see what the conditions for receiving a 15% profit are.
Earning Passive Income At Hoo Exchange By Staking To StableCoin
Hoo.com is a cryptocurrency exchange platform based in Hong Kong. This exchange is one of the leading cryptocurrency trading platforms in the world. It also supports a huge number of coins and tokens. Hoo Exchange aims to provide efficient and lucrative trading services.
Users must register to use Hoo Exchange Services: https://hoo.com/register
After registering and logging in to the user account, traders can enter the Hoo Earn's monetization section and view the list of coins and tokens that can be invested.
As can be seen, Hoo Exchange offers a return of up to 15% APR for users' investment over a 30-day period.
"Short-term periodical earning" product, will be available soon. Terms and conditions are as follows:
What Are APR & APY And What Is The Difference?
APR stands for Annual Percentage Rate. The practical meaning is the percentage of profit or interest traders receive in return for an investment over the course of a year. This declared percentage is exactly equal to the declared profit of the platforms; And usually additional costs such as fees, etc. are involved and expressed in net. It should be noted, however, the percentage expressed in the APR format does not include Compounding. That is, the percentage declared in the form of APR assumes that the investor is allowed to withdraw their interest and does not intend to re-deposit the interest received. In other words, APR is equivalent to a simple interest rate.
In contrast, APY stands for Annual Percentage Yield, meaning "annual percentage return". APY is the real rate of return on an investment obtained by considering compound interest. APY or compound interest rate, unlike APR or simple interest rate, allows investors to add their profit to the initial investment and actually receive profit on their profit. For example, in the world of Defi, traders can get stake rewards and add them to the staked tokens to get more profit next time.
Hoo Earn, Stable Income
HooEarn offers various saving plans where users can invest to earn passive income. The categories of the saving plans are listed below:-
Dual Currency: This plan allows the investor to deposit two tokens of his choice in this cryptocurrency exchange platform.
Locked: As the name suggests, after depositing a certain amount of the Hoo token, the user should wait for a certain period of time before withdrawing the amount. If the withdrawal is made before the said period, the user will not avail any interest, as it can only be made at the end of the lock-in period.