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Phemex Announces Earn Crypto: Crypto Asset Management Products Offering up to 10% APY
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All crypto traders are intimately familiar with the risks and the volatility associated with these assets. To protect themselves from drastic price swings, they often seek refuge through stablecoins such as USDT. For periods in between trades, when funds sit unused, Phemex will soon offer a way for these cryptos to passively generate some income as well. The official release date is on
January 18, 2021.
These crypto asset management products will allow users to park their crypto assets for a certain duration, providing liquidity to a Phemex investment fund and in return, will earn a certain percentage as interest on their deposits.