Many newcomers to cryptocurrency buy assets and retain them for the long term, hoping that prices will rise. Others who are a little savvier try to profit from the high payouts offered by specific wallets.
However, there are a variety of alternative strategies to build up your crypto holdings. But first, let’s define passive income. Said, it’s the capacity to profit from your idle assets while doing virtually nothing. KuCoin also makes passive income simple.
We tell you that there’s a better method if you’ve solely been trading and holding crypto on KuCoin. The bitcoin exchange provides its users with far more options for passive income than first appears.
On KuCoin, there are numerous ways to get passive income:
KuCoin, as previously said, has swiftly become one of the most popular KuCoin exchangers. However, investors who regard it as the only option are doing a disservice. As savvy investors have noticed, the KuCoin team has been rolling out several profit-generating tools.
Lending with KuCoin is the way to go:
On the KuCoin platform, lending is the most popular way to generate passive money. KuCoin lending now offers roughly 90 digital assets for lending, including several that aren’t widely used on other crypto lending platforms. Traders have favored USDT lending up to this point. More established coins like ETH and SOL and meme coins like SHIB are among these tokens.
Unlike traditional financial institutions, which face significant entry barriers owing to credit checks, laws, legacy technology, and other factors, the crypto lending market makes it easier to lend and borrow money swiftly and easily. To qualify for a loan, borrowers must put up collateral to secure their investments.
The Bonus from the KCS:
KuCoin Token (kcs) holders are generously rewarded for their loyalty and support of the exchange. There are numerous reasons to buy and hold KCS, but the following four stand out:
If you pay your trading expenses using KCS, you will receive a 20% discount.
You can get additional tokens by just keeping KCSas low as 6. The exchange provides a KCS Bonus scheme in which KCS holders receive 50% of the daily trading fees.
KuCoin has revealed plans to destroy 100 million of its 200 million supply (i.e., half the total supply). Theoretically, such a change would quadruple scarcity, hence increasing demand.
In addition, KCS will serve as the fuel for the KCC public chain.
How can the Trading Bot help you?
The KuCoin trading bot is a new program built to allow individuals from all walks of life to automate trading. The trading bot presently supports four major methods for beginners to more experienced traders:
- Trading on the Spot Grid
- Trading on the Futures Grid
- Averaging Costs in Dollars (DCA)
- Adaptive Rebalancing
The simplest approach available is Spot Grid Trading. It’s because of this that it’s so beginner-friendly. Your investment is divided into different grids as part of the strategy. It then places buy and sell orders on the market. It works by selling when the maximum price objective is attained and purchasing when the minimum price target is reached.
Conclusion|KuCoin is the future of passive income:
The KuCoin crypto exchange’s current features include the tools and methods described in this article. However, the team is already hard at work on other game-changers that will help investors generate a steady source of income.
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While passive income options might enable those who don’t want to watch their portfolio 24 hours a day to earn consistent returns, no investment is without risk. As a result, before plunging into deep waters, please do your study on each choice. Also, remember that “practise makes perfect.” You’ll be more likely to produce a continuous source of money in the long run if you gain more hands-on experience. You can also view the live chart such as, BTCUSDT and ETHUSDT from KuCoin trade page.