Steemit Crypto Academy – Season 2 - Week 7 - Post for @imagen

Earning passive income and generating more income has always been one of the main aims of a lot of people most especially investors who want to let their money earn yields for them, instead of letting the money that is not in use stay idle, the funds can be invested to earn more money. In the cryptocurrency space, there are many ways that anyone can earn passive income and generate more income, and some platforms have made it easy to do. Some ways that anyone can generate more income include staking which is very popular in the crypto and DeFi space. Staking and earning interest is one of the main aspects of DeFi and has become one of the most popular ways to generate more income. Farming is also another very popular way to earn more income. Providing liquidity and earning from the fees is also another very good way to earn and generate more income as well as savings. In this post, I will be talking about savings as it is also a good way to earn more income.

What platform did you choose? Why did you choose it? What other types of services do you offer?

Flexible savings on OKEX

The platform I chose to generate more income is OKEX exchange. OKEX exchange is a top crypto exchange and one of the most popular exchanges in the crypto space at the moment. The main reason why I chose the OKEX exchange is because of simplicity and ease of use. Also, OKEX is known to have amazing features. Also, the interest rates of OKEX is also very good, offering 1.17% APY for the flexible savings.

Why I chose flexible savings is that it is one of the secure way and less risky way of earning passive income on many platforms. OKEX offers both flexible and fixed savings but I prefer flexible because it means that I can withdraw my earnings at any time. The fixed savings locks up the funds for a period of time. This can be risky especially in the world of cryptocurrency that is very volatile. Choosing flexible saving means that I can withdraw my invested USDT earnings anytime I want. The only downside is that the interest rate is smaller than the interest rate of fixed savings.

Explain the process to transfer the funds to that web platform

To transfer funds to OKEX, login to OKEX your exchange account

Click on assets and select deposits. We will be depositing USDT because that is what I want to invest in the flexible savings.

Select USDT and choose your preferred blockchain network. For me I always go for tron network because of the low transaction fees and the faster transaction times.

After the deposit is completed, click on the finance drop-down menu at the top and select earn I choose earn because I want to invest my USDT to earn passive income on OKEX exchange.

On the USDT row, click on select, choose savings because that is the financial service I want to use to earn more passive income. Click on subscribe to activate the savings.

On the input section, type in the amount of USDT you want to save in the savings. For me, I inputted 23 USDT. It has already defaulted to flexible savings which is what we want. After that, click on continue. You will be shown the annual yield percentage, the period and the estimated return. Click on subscribe. Accept the terms to complete.

Congrats, the subscription is completed

Explain the profitability of the chosen method

For my flexible savings, I invested $23 USDT. My estimated returns is 0.00073726 USDT per day. I will be leaving the USDT in the savings for as long as I want to continue to yield daily earnings. This is not bad considering that I only invested a small amount. Investing a large amount of USDT in the savings will yield more earnings. The main benefit of investing in USDT is that it is a stable coin which means that there is no price volatility. My 23 USDT will always remain the same value + my earned interest which makes it a good way to earn passive income without worrying about price volatility. The benefit of flexible savings is that I can decide to withdraw my funds anytime I want to. This for me is great because I don’t need to lock up my funds and miss other opportunities. Whenever a better investment opportunity comes up, I can withdraw my investment + earnings and capitalize on the investment opportunity.

@imagen