CoinEx earlier announced that a brand-new product will go live on their site, known as Financing Accounts.
As of today, September 3rd 2019, users will be able to make use of the new service, which aims to “further advance the crypto trading experience on CoinEx” by allowing users to hold and yield at any time. By doing so, it promises users the ability to accumulate interest and increase the value of the coins which they store within these news accounts.
The way it works is that 70% interest can be accumulated via borrowing coins from the CoinEx margin trading service which went live at the end of June. These funds will be allocated to users based on the ratio of holdings in their financing accounts. The money that has been acquired via borrowing will be accumulated on the second day of the deposit and then paid out on the third.
Users should transfer idle assets to these accounts. Then, over time, these revenues will be increased via the daily compound interest available. The yield of which will then be added directly to the user’s finances account automatically.
There is no minimum deposit and so, users can choose how much or little they want to store in these financing accounts any time of the day. Users can already start depositing to these accounts, via the one currency that is live on the service, USDT. Naturally, though, more will be rolled out over time.
In a nutshell, it provides you with the opportunity to store idle coins and accumulate funds on them while margin trading.
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